Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility Description

Two companies, Myriad Genetics and OncorMed, competed to develop a genetic test for breast and ovarian cancer susceptibility. Although the two companies had offered genetic testing only to women who participated in their research studies, in 1995, both were considering selling their testing services to physicians generally. Despite the promising market for this testing service, some scientists and patient activist groups believed that it was premature to provide testing outside a carefully controlled research environment, where data could be collected on an ongoing basis to answer significant questions about the health consequences of genetic mutations and the potential benefits and risks of testing. Specifically, they argued that commercialization should wait because knowledge about an inherited predisposition to breast cancer was still emerging, and medical care options for mutation carriers were limited and not proven to be of benefit. In addition, data on the psychological and social effects on women who were tested were still evolving. Those in favor of restricting such testing to the research setting wanted laws in place to protect individuals from irresponsible testing practices, loss of privacy, and genetic discrimination. Details the decisions that Myriad and OncorMed made regarding their testing services and how the two companies addressed the concerns of those outside the company.

Case Description Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Strategic Managment Tools Used in Case Study Analysis of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

STEP 1. Problem Identification in Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study

STEP 2. External Environment Analysis - PESTEL / PEST / STEP Analysis of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study

STEP 3. Industry Specific / Porter Five Forces Analysis of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study

STEP 4. Evaluating Alternatives / SWOT Analysis of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study

STEP 5. Porter Value Chain Analysis / VRIO / VRIN Analysis Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study

STEP 6. Recommendations Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study

STEP 7. Basis of Recommendations for Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study

Case Analysis of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility is a Harvard Business (HBR) Case Study on Sales & Marketing , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.

Case Study Solutions Background Work

Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study solution is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Sales & Marketing, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility, is to not only build a competitive position of the organization but also to sustain it over a period of time.

Strategic Management Tools Used in Case Study Solution

The Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

Texas Business School Approach to Sales & Marketing Solutions

In the Texas Business School, Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Step 1 – Problem Identification of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility - Harvard Business School Case Study

The first step to solve HBR Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Testing Genetic is facing right now. Even though the problem statement is essentially – “Sales & Marketing” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Testing Genetic, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.

Step 2 – External Environment Analysis

Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility.

The external environment analysis of Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.

What is PESTEL Analysis? Briefly Explained

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study. PESTEL analysis of " Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?

As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility macro-environment and how it impacts the businesses of the firm.

How to do PESTEL Analysis for Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

To do comprehensive PESTEL analysis of case study – Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility , we have researched numerous components under the six factors of PESTEL analysis.

Political Factors that Impact Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.

Policy Making Impact on Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Government policies have significant impact on the business environment of any country. The firm in “ Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.

Data safety laws – The countries in which Testing Genetic is operating, firms are required to store customer data within the premises of the country. Testing Genetic needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.

Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility has numerous instances where the competition regulations aspects can be scrutinized.

Import restrictions on products – Before entering the new market, Testing Genetic in case study Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility" should look into the import restrictions that may be present in the prospective market.

Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Testing Genetic in case study “ Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility ” should look into these export restrictions policies.

Foreign Direct Investment Policies – Government policies favors local companies over international policies, Testing Genetic in case study “ Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.

Taxation & Regulation Impact on Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.

Tariffs – Chekout how much tariffs the firm needs to pay in the “ Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Testing Genetic can compete against other competitors.

Government Scheme & Subsidies Impact on Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study have to assess whether their business can benefit from such government assistance and subsidies.

Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.

Political System & Stability, and its Impact on Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.

Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.

Corruption level – Testing Genetic needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.

Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.

Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.

Economic Factors that Impact Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Social Factors that Impact Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Technological Factors that Impact Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Environmental Factors that Impact Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Legal Factors that Impact Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility

Step 3 – Industry Specific Analysis

What is Porter Five Forces Analysis

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study. PESTEL analysis of " Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

Step 4 – SWOT Analysis / Internal Environment Analysis

Step 5 – Porter Value Chain / VRIO / VRIN Analysis

Step 6 – Evaluating Alternatives & Recommendations

Step 7 – Basis for Recommendations

References :: Myriad and OncorMed and the Marketing of the First Genetic Tests for Breast Cancer Susceptibility case study solution