Marketing decisions and planning Essay Example | Topics and Well Written Essays - 1750 words

Marketing decisions and planning - Essay Example For Hemopure, competitive market is represented by the donor blood market and substitute products. The main competitors of Biopure are Baxter and Northfield. Both companies are market leaders relying on the high quality of products and selling history. Competition refers to the creation of differential advantage particularly by the effective management of innovation to meet changing marketing opportunities (Cooper et al 133). Programmed innovation, like Hemopure, is the method of achieving continuous market adjustment; competition is its stimulus. The main difference between Baxter’s and Northfield’s products and Hemopure is that the latter is based on cattle blood used as the main source of hemoglobin. External factors that place a limit on competition and innovation include various types of governmental regulation, accepted industry practices and agreements, and the social. The main strengths of Hemopure are innovative methods of production and hemoglobin extraction. The main weakness is that the product is not ready for immediate launch and will need two additional years of research and development. Also, Northfield laboratories received FDI approval in 1999 (Biopure Corporation 8-9). Veterinary market proposes enormous opportunities for Biopure because it will be the only company producing such products. The main strength is that for the next 3-5 years, Biopure will be the only market leader in this sector. The main weakness is that any other company can enter this market and reduce the price level. Thus, even such lead