Case study: B2P: Micro-Bioinformatics Technology and Global Expansion
DISCUSSION QUESTIONS: 1. What are some of the challenges the company faces when entering the U.S. testing market and how can B2P overcome them?
Breadth of Services
· Challenges: B2P offers a niche product which may make it difficult to compete against labs that conduct multiple tests.
· Solutions: Identify and pursue markets in which multiple types of tests are not required.
Reputation
· Challenges: Without a proven U.S.track record, entering the testing market may be a challenge.
· Solutions: Build off current reputation to generate partnerships with established U.S. companies. Build reputation by providing complimentary samples, attending tradeshows, and establishing partnerships with industry influencers.
Regulation
· Challenges: U.S. is a highly regulated market and obtaining government approvals is expensive.
· Solutions: Begin process for government approval (EPA, FDA, etc.) as soon as possible.
Deniability
· Challenges: When possible, companies sometimes choose not to test their products at all. If testing is not required and its cost exceeds the cost of a product recall, many-especially in the meat industry-choose not to test their products.
· Solutions: Work with government and/or trade organizations to educate suppliers and consumer outlets to demonstrate cost of savings of testing vs. recalls/negative reputations.
2. Is the B2P product an industry game changer? Is the product better than the other testing devices on the market? Why? Why not?
The company's product is more reliable, more efficient, and more convenient than any other product on the current market. Despite its limitations in the number of items it can test for, there is no other product like it. Getting people to use it, however, will be the challenge. The company will have to develop a strong market presence early on in order to differentiate itself from competitors in the minds of the users.
3. What are some of the opportunities for B2P?
· Water testing for:
- Drinking/ground water
- Private wells
- Oceans, lakes, rivers, etc.
- Amusement parks
- Hotels, cruise ships
- Post-disaster
· Food testing:
- Suppliers of products related to:
i. Beef
ii. Dairy
iii. Leafy Greens
iv. Chicken, other meats
- Restaurants
- Hotels, convention centers, etc.
Part 1: Discussion 1: "Strong Brands" Please respond to the following:
• Several companies use their brand as a competitive advantage. Given your knowledge about the global economy, identify three brands you believe have the strongest likelihood of remaining a source of advantage in the 21st Century and explain why. Explain the affects you believe the Internet's capabilities will have on the brands you identified in the previous discussion and what the owner of the brand should do in light of them.
• From the e-Activity, analyze the internal environment of the company you researched to determine that company's strengths and weaknesses. Based on the strengths and weaknesses you discovered, determine what steps the company could take to positively impact the company's competitiveness. Explain your rationale.
eActivity: • Use the Internet or the Strayer Library to research a company of your choice with a focus on the company's internal environment. Be prepared to discuss.
Discussion 2: "Competitive Analysis" Please respond to the following:
• From the case study, the company defined its market as the biological testing industry. Using Porter's competitive model from Chapter 5 of the text, predict the challenges that the company will face as it competes in this industry and suggest the solutions to mitigate the challenges.
• Select a company with which you are familiar. Generate a quick summary of a Political, Economic, Social, and Technological (PEST) analysis, and predict this company's market growth or decline. Support your prediction.
Discussion 3: "Industry Analysis" Please respond to the following:
• From the e-Activity, analyze how the knowledge of job titles, salaries, and hiring practices provides information for the business planning for your business.
e-Activity: Imagine you are running a small business. Research the Bureau of Labor Statistics Occupational Outlook Handbook. Take note of job titles, salaries range, and hiring practices applied for your business. Be prepared to discuss.
• From the business you proposed in Week 2, Discussion 1, use competitive information to generate a set of challenges you would have to overcome to succeed in that business. Support your answer.
Part 2: Discussion 1: A business I could create deals with retail. It specializes in different product groups and has both physical stores and online one. The value offered by this business to its customers will be in its high attention to customers and they needs, as well as customer care in everything. For example, the business would offer special services to help in selecting products, as well as special warranties and other services. I think the value offered to customers would be enough to succeed. There are many retail firms in our days. However, most of them do not offer such services and benefits to customers. There are many complaints about unsatisfactory level of customers services. Thus, it would positive influence competitive position of the new business.
The value proposition, which Rosenblatt offered with iMall was in the benefits of this platform in relation to its competitors. This platform offered special propositions for small merchants, and they were not offered by competitive firms in 1990s (Allen, p.491). This value proposition contributed to high sales price of iMall. If compared to the state of e-Commerce today, this value proposition would not work. Nowadays, e-Commerce is more developed, and many companies offer such benefits to their customers.
Reference: Allen. K. R. (2011). Launching new ventures: an entrepreneurial approach. Cengage Learning