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The Market For Restriction Enzymes: Cutting Out Your Competition


Description: It is difficult to imagine life in the lab today without the benefit of restriction enzymes. Because they are so ubiquitous, these tools have become indispensable to many scientists even at the same time that they are often taken for granted. Nonetheless, restriction enzymes support many quintessential molecular biology applications including cloning, genotyping, mutation analysis and sequencing. Furthermore, given their wide degree of usage and the fact that most suppliers have long ago re-cooped their R&D investment on them, restriction enzymes are a reliable source of income for many suppliers. Additionally, since many scientists tend to use related kits and reagents from the same supplier, restriction enzymes serve as a conduit for increased product sales.

Scientists must decide amongst the many suppliers that offer a variety of restriction enzymes—often with similar label specifications. The challenge suppliers face is how to "brand" their products to distinguish their enzymes from their competitors. To effectively create a brand, suppliers must first inform their customers "who" the product is by creating an identity for it. Next, suppliers must tell customers "what" a product does and finally, "why" their product is better than others on the market.

For branding strategies to be successful—regardless of whether the brand has been around for decades or is brand new, customers must be convinced that there are significant and meaningful differences among restriction enzymes.

Produced from the results of a 23-question survey of over 700 researchers who use restriction enzymes, The Market for Restriction Enzymes: Cutting Out Your Competition will examine what motivates scientists to purchase a restriction enzyme from one supplier over another and whether market segment or geographic region influence these decisions. It will provide insights into scientists' purchasing preferences, i.e., how scientists prefer to buy restriction enzymes (e.g., central stockroom versus director from the supplier) and what factors (e.g., pricing, institutional practices, convenience) influence their purchasing decisions.

Additionally, the report will present a detailed brand share analysis based upon usage rates and relative expenditure in two different market segments: industrial and academia and three geographic regions: North America, Europe and the rest of the world. Accompanying this analysis is an assessment of study respondents' likelihood for brand switching and the motivations driving these decisions. Unique to this study is the estimation of brand equity in the restriction enzyme market based upon the past performance and future value of the major brands. This report is designed to help suppliers better understand how their customers use their products as the essential first step in evaluating the effectiveness of their existing brand.

The report looks at the relationships between retention, satisfaction and loyalty and provides suppliers with a custom evaluation of these fundamental components, which determine one's customer base. With these detailed insights, suppliers should be able to reassess their market position and develop new or adapt existing strategies to both increase customer value and achieve their profitability goals.

Report Highlights
The Market for Restriction Enzymes: Cutting Out Your Competition contains over 40 charts and/or tables and more than 15 cross-tabulations for the 23 survey questions (see Page 4). Below is a glimpse of the key findings derived from just a few of the survey questions:
- On average, respondents devote 62% of their restriction enzyme usage to cloning and about 11% to genotyping.
- 33% of respondents expect their restriction enzyme usage to increase over the next 12 months, while 52% do not think their restriction enzyme usage will change.
- New England Biolabs, Promega, and Invitrogen are the three brands most commonly used by respondents.
- 69% of respondents would consider using an additional brand of restriction enzymes beyond those that they currently use.
- 54% of respondents have never experienced a problem with the restriction enzymes that they use. The most common problem respondents experience with their restriction enzymes is partial cleavage of DNA.

Objectives
The major objectives of this report are as follows:
- Identify the applications and purchasing preferences of customers
- Reveal market specific differences in usage and preferred suppliers by segmentation analysis
- Assess market growth potential
- Determine brand share by usage rates and relative expenditure for different market segments and geographic regions
- Assess brand familiarity and market factor(s) that influence a customer's decision to purchase one brand over another
- Examine factors that contribute to customer retention and determine the likelihood for brand switching
- Understand the role of customer satisfaction and brand loyalty in the purchasing decision
- Analyze brand equity in the restriction enzyme market based upon the past performance and future value of each brand

Methodology
765 scientists completed a 23-question survey (Arlington, Virginia, USA) between February 1 and 6, 2006.

The electronic questionnaire was fielded to registered members of The Science Advisory Board. Our sponsors The Science Advisory Board, an online community of more than 28,000 scientists, physicians and healthcare professionals from around the world. The Science Advisory Board is divided into two panels (Research and Clinical) and "convenes" regularly via the World Wide Web (www.scienceboard.net) to voice their opinions on a wide variety of issues relating to biomedical research and clinical technologies. These experts—representing all aspects of the life sciences and medicine—have agreed to make themselves available to participate in our online research activities. The Science Advisory Board members who participated in this study were drawn from the Board's Research Panel.

Questions 10, 11, and 15-18 were asked in relation to a supplier indicated by the respondent in Question 6.


Contents: Section 1. Analysis and Interpretation of Survey Results
1-1 Executive Overview
1-2 Applications and Purchasing Preferences
1-3 Market Profile
1-6 Market Growth Potential
1-8 Brand Share
1-9 Brand Familiarity
1-10 Customer Retention
1-11 Customer Satisfaction
1-15 Customer Loyalty
1-16 Brand Equity
1-18 Conclusion

Section 2. Study Methodology and Demographics
2-1 Methodology
2-6 Definition of Terms
2-7 Demographics
2-8 Questionnaire

Section 3. Presentation of Survey Data
Restriction Enzyme Usage
3-1 Applications for which restriction enzymes are regularly used
3-2 Percent of restriction enzyme usage by technique
3-3 Enzymes used regularly
3-5 Reactions performed per week
3-6 Expected change in number of reactions using restriction enzymes over the next 12 months
3-8 Brands of restriction enzymes currently used
3-10 Breakdown of enzyme usage by brand
3-11 Breakdown of money spent on enzymes by brand
3-12 Importance of specific factors in decision to purchase a given brand of enzymes
3-13 Methods of purchasing restriction enzymes
3-14 Length of time using a brand of enzymes
3-15 Changes of brand usage over the past 12 months
3-18 Primary reason for changing brand usage
3-19 Brand—other than those currently used—that users would consider
Restriction Enzyme Satisfaction
3-20 Assessment of potential obstacles to switching brands
3-22 Level of satisfaction with specific features of enzymes from a given brand
3-24 Overall satisfaction with a given brand of enzymes
3-25 Most frequent problem with a brand's enzymes
3-26 Assessment of perceived differences between various brands of enzymes
Demographics

Section 4. Appendices
4-1 Insights and Perspectives
4-15 Cross-Tabulations of Survey Data
4-63 Other Recent Publications
4-65 About Us
4-66 Our Valued Clients


Companies Mentioned - American Allied Biochemical - Fermentas - Fisher Scientific (BioReagents) - GE Healthcare - Invitrogen - MP Biomedicals (Qbiogene) - New England Biolabs - Promega - Roche Applied Science - SBS Genetech - Sigma-Aldrich - Stratagene - Takara Mirus Bio (Takara) - USB Corporation


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