over PowerPoint presentation that Valerie will use to “pitch” the Boomers Best Bets to
the Strategic Planning Committee.
Valerie has given detailed directions for the PowerPoint so it is crucial for you to follow
instructions. Your team is required to research the nutraceuticals and supplements
industry to assess the external environment of the business.
? You should look to the Company Profile for internal information regarding the
? The PowerPoint slides will use the note section to explain the slides as well as
the voice over feature.
*For the purpose of this project assume that budget and financial issues can be
Strength of Biotech:
Weaknesses of Biotech:
As the part of the industry it earns enough revenues which will lie with the break even as per the investment and that is utilised for development. There are the technological risk which is compounded with the ebb as well as the flow of interest for the investment community.
Opportunities for Biotech:
It is also true that for the convergence of biotechnology there are engineering, imaging as well as the optics, bio-imaging or the bio-engineering for the bio-optics which will be held with tremendous promise for future.
Threats to Biotech:
There are biotech companies which already begun offshoring for certain activities when there is one of the main ones for being the sheer volume for medical chemistry contract work and that has been done more in number in China.
Another major threat in US is that due to the immigration policies after the terrorist attack in 2011, there are numerous restrictions that have been found to be enacted within these recent years and thus these facts have been discouraging the biologists, engineers, chemists or the physicists from studying as well as working in U.S (Dr. Kerppola, 2017).
There are some major countries which try to expand in this sector. Biotech also gets the same privilege to expand in other countries. They can deliver that medicine with emerging market. Moreover, there is the social responsibility, like strike out the copy product in those developing countries.
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The reduction in consumer disposable income will have an impact on those countries using health insurance models particularly where part payment is required.
These economic pressures are seeing an increased growth in strategic buying groups who are forcing down prices.
Increased pressure from shareholders has caused a consolidation of the industry: more mergers and acquisitions will take place over the coming years (Veleva & Bodkin, 2017).
The population thus offered a range of opportunities as well as the threats in case of Biotech.
As the population becomes older, there is more demand of medicine. Thus, the population has risen where the medicine is required more.
The drug is thus provided to take care for the employees as well and it has been thus make up the cost of the increase health issue and thereby it has been seen that there is a declination of the business competitive power (Veleva & Bodkin, 2017).
Moreover, the innovation as well as the redevelopment of the people life has lived longer. It means that the technological raise in case of population has been increased. The demand of the medicine is also rising. Thus with the help of technological structure, there is the higher quality of medicine that will be produced while competing with others.
The research and development expenditure also rose very sharply. It is most costly along with more complexes for this special biotechnology. Thus, if the new product has launched the effect of the growth of the industry is thus turn down.
Moreover, the bad environment is the cause to raising the health risk of human being. For this Biotech has to provide the better medicine and thereby, there is needed of more and more investment to develop the research department at its best.
For government regulation there are help to increase the confidence within the consumers. The patent system also will be found protect to the original brand for predicting the generic medicine attack.
Although there is the patent system which is found to be sure for the medicine that is protected. Although there are some generic products with the same healing effect which will lower the price that will enter the market as well as to compete with the some patented medicine (Pandey, Verma, & Saraf, 2010).
2. Threat of substitutes: As the substitute s offer same benefit with the industry, there can be reduced in case of demand of the product as the customers has been switched for alternatives. Government has also set up the legal patent for the original band as the phenomenon of “Generic Medicine” as it contains the same intergradient like the original brand.
3. Power of buyer: Buyer can perform with high bargaining power when the suppliers will hard to make profits. In this case, government becomes largest purchaser in the market. That would have a high impact in this industry when the purchaser is found to buy medicine lower than that of the other market, like Canada.
4. Power of supplier: It has been found that there are many different suppliers present in the market of USA, Asia or in European. Also, there are more than thousand pharma companies which provide medicine. Therefore, there is a wider selection to the buyer. If there is only one supplier, automatically, production of the industry will low.
5. Competitive rivalry: It is very important for customers that with movement of the substitute products the rivalry will become high. As there are lots of similar medicines has been appeared and those: generic medicines” will provide the same performance like the original product (Pandey, Verma, & Saraf, 2010).
1. As per the mission of Biotech, it wants to produce safe, effective along with affordable as well as natural medicines for the help of consumer’s health.
2. SWOT analysis has looked upon these matters so that company can provide some affordable as well as effective medicines which can be used for curing for critical disease as well.
3. As Biotech has the vision to provide the healthiest life to the consumers. Through Porter’s five force models it will become simpler to achieve the vision.
4. Also through PESTLE analysis, Biotech can have a fair strategy so as to reach its mission as well as Vision in true sense.
5. Government is also there for supporting the research and development to meet the demand of medicines.
6. For any means the cost for research and Development has raised sharply for complex Development, productivity also decreases proportionately. Government will help to recover some Portions so that it achieves the target (Veleva & Bodkin, 2017).
1. As per Valerie, the future research is going to be proven that there is the best Bets for baby boomers to meet the strategic marketing plan of Biotech.
2. The research has been carried out over 50 customers where the result shows that there are two types of diabetes groups.
3. Alzheimer's or dementia is the few major health concerns in this case.
4. For protecting against Alzheimer or dementia, there is a protein bar test that is made with coconut dark chocolate, almonds or blueberries. The bar has contained all natural products while protecting against dementia as well as Alzheimer.
5. The purpose of the development in case of Boomer’s Best Bets, the sample costs and overall expenses has found to be more descriptive and affordable to carry out the test, which eventually meets the vision and mission plan of the company.
2. The research has been carried over the household’s food ingredients so that it will be affordable one and thus there would not be any hazards to buy other medicines. Only the food habits will improve health conditions.
3. Thus, Biotech has a large part in research and development to study the Nutraceuticals and their supplementary (Coppens, Da Silva, & Pettman, 2006).
2. As only through biotechnical process, it is trying to found out any curing process for critical diseases, thus there is supports from all other people in societies as well as government.
3. More number of researches should be introduced in the school and college level as well so as to not to depend on the company's result (Veleva & Bodkin, 2017).
2. This technological survey as per the research based company will necessary to meet the mission as well as the vision of the company itself.
3. Through the research, it has been clear to know about the present trend of the food habits of public that would be a necessary change for taking care for the other critical diseases.