What Does the Economy Hold For the Life Sciences In 2003?

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A recent market survey of life scientists reveals purchasing trends for 2003. The information contained in the report holds relevance for life science suppliers and investors in the life science arena, providing insight into what bench researchers plan on purchasing in the near term.

SAN FRANCISCO, CA – February 19, 2003 – After a recent market survey of over 1,500 life scientists, Cardea Marketing published results that are essential for life science suppliers and investors in the life science arena.

The survey, titled “2002 Fall Purchasing Survey”, was emailed to over 20,000 scientists, and received over 1,500 responses. Scientists were asked detailed questions about their purchasing habits and plans. Survey questions included: What lab equipment do you plan on purchasing within the next 3, 6, and 12 months? Will your laboratory budget increase, decrease or stay the same? Will you be starting a new lab and if so, when? Complete demographic and contact information was collected for each participant, and was provided to each supplier that provided a question for the survey.

Questions were submitted by some of the industry’s largest suppliers that were interested in gathering specific information about bench researchers plans for the coming fiscal year. “In a time when companies are holding back on spending and CEO’s are under the gun to increase profits, it is extremely important to be able to get a glimpse into what scientists’ purchasing plans are. Every marketing dollar needs to be justified, and each marketing campaign needs to show ROI”, commented Alison Martin, Managing Partner of Cardea Marketing.

“This survey provided me with information that surprised me. I was very pleased with what I learned, but it emphasized the importance for a marketer to regularly check the assumptions we make about our market through market research. It was also a great lead generation tool”, commented Valerie Bressler-Hill, Vice President of Marketing for Biosource International (NASDAQ:BIOI). “Even without the leads, this was an incredibly valuable report.”

The report is available for purchase and is being distributed by Biocompare, the buyers guide for life scientists. "We feel that the Fall Purchasing Survey is a natural extension of what Biocompare has to offer", commented Paul Gatti, President and CEO of Biocompare. "Biocompare provides high quality product information to life science researchers and highly qualified sales leads to life science suppliers. This report will help suppliers make critical decisions about marketing and product development and is also a good source of targeted sales leads.” An executive summary can be viewed by downloading the file associated with this release.

<B>ABOUT CARDEA MARKETING, LLC</B>

Cardea Marketing, LLC is a marketing services firm located in San Francisco, California. Cardea Marketing is a marketing services company specializing in market research, custom research, online marketing, communication, and design for the life science marketplace.

<B>ABOUT BIOCOMPARE, INCORPORATED</B>

Biocompare is an online buyer's guide for life scientists. Every day thousands of life scientists, lab directors, and purchasing agents go on-line and use Biocompare to learn about the latest technologies and products available for their labs. Visit http://www.biocompare.com to search for products, read product spotlights and reviews, find out about new technologies and view streaming videos. Biocompare's product email alerts and e-newsletters provide subscribers with information on news, new products, technologies, events and more.

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Alison Martin
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