ARLINGTON, Va., Aug. 13 /PRNewswire/ -- According to new research from BioInformatics, LLC (http://www.gene2drug.com) -- the leading market research and consulting firm serving the life science industry -- service providers in the life science industry must innovate to find new ways to demonstrate customer value. As offerings become more diverse, including multi-vendor, original equipment manufacturer (OEM), in-house and a combination of all three, vendors must respond to customers’ increasing demand for choices. In its latest report, “Instrumentation Service Contracts: Opportunities for Differentiation,” BioInformatics, LLC explores optimal ways to balance risk, quality and costs of service and/or maintenance contracts.
“Navigating the complex terrain of service and/or maintenance contracts poses new challenges for life science suppliers,” observed Tamara Zemlo, Ph.D., Director of Syndicated Research and Analysis at BioInformatics. “Instruments have become more sophisticated and customers are more demanding.” According to Dr. Zemlo, structuring contracts in a way that responds to the unique needs of each client is the key to winning in this increasingly competitive landscape.
This report provides an in-depth market overview and competitive analysis of the most common types of contracts offered in the life sciences market. While almost one-half of maintenance and/or service contracts are with the OEM, customers are more frequently turning to alternative suppliers. According to the life scientists surveyed for this report, in addition to dependability, customers expect personalized service and maximum flexibility as well.
The report has a number of significant findings for scientific and lab equipment suppliers. 49% of maintenance and/or service contracts are for a single-year duration. 36% of scientists who are disappointed with service would give contract providers a second chance and request a contract extension. 41% of respondents are highly interested in consolidating maintenance and/or service contracts with a single OEM. This invaluable report provides suppliers with a roadmap for differentiating service offerings in order to build customer loyalty and charge premium prices.
While customer preferences have been measured independent of specific vendors, profiles for five major OEM’s -- Agilent Technologies, Applied Biosystems, Beckman Coulter, Bio-Rad Laboratories and GE Healthcare were studied as well. Significant differences by market segment are also highlighted in this report.
“The vendor-client relationship necessarily includes understanding customer preferences, pro-actively increasing positive touchpoints and educating customers as to how a particular service offering is unique,” Dr. Zemlo noted. “Instrumentation Service Contracts: Opportunities for Differentiation” provides suppliers with insights from over 500 life scientists with regard to all of these strategic areas. Plan to attend a free webinar to discuss ways to optimize service and/or maintenance contracts on Tuesday, September 9 at 1pm EDT. To register for your seat at the webinar, email m.follin@gene2drug.com. For a complimentary Executive Summary of this report, please visit http://www.gene2drug.com/report/195/ .
ABOUT BIOINFORMATICS, LLC
BioInformatics, LLC is the premier research and advisory firm serving the life science industry. By leveraging our professional social network of more than 36,000 biomedical researchers, we have supported more than 300 companies and provided insights that lead to better business decisions. Our assignments include assessing the size and attractiveness of markets, optimizing product configurations and pricing, validating corporate acquisitions, measuring customer loyalty, and evaluating brand strength and positioning.
CONTACT: Mary Follin, Director of Communications of BioInformatics, LLC,
+1-703-778-3080 ext. 13, mfollin@gene2drug.com
Web site: http://www.gene2drug.com/
