User Account

All Pages

Pharmaceutical company rapid diagnostics pty ltd marketing

Assignment Help Marketing Management
Reference no: EM13827642

Rapid Diagnostics Pty Ltd (RD) is a Brisbane-based biotechnology company. It is Australian owned by a group of medical scientists, who established the company in 2009 to commercialize a range of medical diagnostic products for infectious diseases.

Many of the ideas for the Rapid Diagnostics products came from the Biosciences research program at the University of Queensland. A number of products were working prototypes in the Biosciences laboratory. These products included a range of infectious diseases, including meningococcus and MRSA.

During its early start-up phase, the company conducted preliminary market research to identify the greatest opportunity for a rapid diagnostic product using immunochromatographic technology. During the market research study a major outbreak of meningococcal disease occurred at a Brisbane-based high school, infecting a small group of students. Many of the medical customers surveyed felt that a rapid diagnostic assay for meningococcal disease would be beneficial. However, the meningococcal outbreak was quickly under control and the disease rapidly dissipated.

The company wanted to differentiate itself in the market place to ensure it would have an excellent opportunity for early success. Choosing the right product and successfully commercializing it would provide early revenue streams to ensure further product development.

After reviewing the market research data RD decided to develop and commercialize a rapid diagnostic product for meningococcal disease. Market research data showed that current detection for meningococcal disease was difficult using current testing methods. Blood culture was slow taking at least 48 hours to obtain a result, while PCR testing conducted at the Royal Brisbane Hospital took more than 3 hours, sometimes this timeframe being quite critical. By developing a rapid 5 minute assay, this would provide a quick diagnosis of meningococcal thereby offering doctors and medical staff the ability to administer therapy as soon as possible. A rapid diagnostic test could also be used to screen other students who showed some of the symptoms of meningococcal disease. Meningococcal disease occurs worldwide, predominantly during spring but can emerge at any time during the year.

Before making the final decision to proceed with the product development project, the
CEO of RD requested that a brief marketing plan be developed to ensure that the product would achieve success in the marketplace.

Additional Requirement 

This question is based on the Marketing. It is a case study of a biotech company. The company has been started to produce medical products for infectious diseases. The company now wants to conduct a market research in order to understand and develop a suitable marketing plan to identify the right product to begin with. The right product mix for the company has been devised in the solution.

Word limit 3000

Reference no: EM13827642

Questions Cloud

Keeps records of the annual precipitation in different citie : A meteorological office keeps records of the annual precipitation in different cities. For one city, the mean annual precipitation is 15.3 and the standard deviation of the annual precipitation amounts is 4.2. Let x represent the annual precipitation..
Computing pension expense-underfunded retirement plan : Taylor Corp reported the following items in the 2012 pension footnote (in millions).
Pros and cons of the mean and the median : Investigate the comprative pros and cons of the mean and the median. Find examples where the mean is more appropriate than the median and vice-versa. Discuss the locations of the mean, median and mode for a normal, left-skewed and right-skewed distri..
Discuss issue of statistical power in non-parametric tests : Discuss the issue of statistical power in non-parametric tests (as compared to their parametric counterparts). Which type tends to be more powerful? Why
Pharmaceutical company rapid diagnostics pty ltd marketing : Pharmaceutical Company Rapid Diagnostics Pty Ltd Marketing Case Study
How everyone else performed in comparison : Consider a time when you took an exam in school and received your results. Your score meant more when you also knew how everyone else performed in comparison. More than just knowing the average score, maybe you were also able to see how many students..
How family and school have influenced your own socialization : The problem is related to Sociology and the problem discusses about how your family, school, your peer group and the media have influenced your own socialization. This has been explained in the answer.
American eagle outfitters and the gap : Selected recent balance sheet and income statement information for American Eagle Outfitters and The Gap, Inc. follows:
Marketing plan for a car sharing or car pooling company : Marketing Plan For A Car Sharing or Car Pooling Company

Reviews

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd