Using this tool, they’ve been able to test different price points and to see how well they’re communicating their product’s value. Our clients have been overwhelmingly positive about the outcomes.
ARLINGTON, VA (PRWEB) December 11, 2012
BioInformatics LLC, life science industry market research experts, announces the launch of RateMyProduct™. RateMyProduct is an automated product assessment tool providing life science suppliers with customer feedback about their product concept, product or service.
RateMyProduct enables life science marketing and product managers to create an online presentation about a lab product or service, have it reviewed by a chosen target market and get an online report within 5 days. The automatically generated online report provides feedback from prospective customers on the following predictors of market success:
Overall RMP Score
“In addition to receiving a product evaluation, suppliers will receive comparisons of their results to industry averages,” says science analyst Nicole Camara, Ph.D. “Our proprietary scoring methodology is based on our experience with helping clients successfully launch and market hundreds of products over the years. Additionally, we’ve been working closely with product managers from multiple life science tools companies to maximize the value of RateMyProduct.”
Prospective customers who evaluate the products are drawn from The Science Advisory Board – an expert network of more than 71,000 scientists engaged in biological research, drug discovery and biopharmaceutical production.
“RateMyProduct has been designed to be flexible. Our methodology equally supports instrumentation and consumables, as well as new products and those already on the market,” says Bill Kelly, president of BioInformatics LLC. “Over the last few months, our clients have tested RateMyProduct by deploying it in their own product development cycles. Using this tool, they’ve been able to test different price points and to see how well they’re communicating their product’s value. Our clients have been overwhelmingly positive about the outcomes.”
RateMyProduct is being introduced at a price of $1,500 for a summary report that contains value scores on a single product or service. In this initial offering, RateMyProduct will be available for fielding in two geographic regions—Europe and the United States.
ABOUT BIOINFORMATICS LLC
BioInformatics LLC is the premier research and advisory firm serving the life science industry. By leveraging our expert network of more than 71,000 life scientists, we have supported more than 500 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.