Genomic Health: Launching a Paradigm Shift...and an Innovative New Test Description
In late October 2003, Randy Scott and the Genomic Health team had just received the results of Genomic Health's first pivotal trial. The company's product, Oncotype DX, a first-of-its-kind genomic assay that quantified the likelihood of breast cancer recurrence, had exceeded the standard measures of patient age, tumor size, and tumor grade in predicting recurrence outcomes. The study results would be presented at the 2003 San Antonio Breast Cancer Symposium in December and published in the New England Journal of Medicine in December 2004. Scott and his team now faced the challenge of determining how and when to launch this groundbreaking product. The team was eager to get the product to market as quickly as possible. However, extensive market research performed earlier in the year reveals that it had less than 10% awareness in the physician community and even less among consumers. When asked about what factors would influence their adoption, physicians overwhelmingly cited clinical validation studies--and lots of them. Many skeptics within the oncology field felt that the legitimate use of genomics in making treatment decisions was still 10 to 20 years in the future. Finally, Genomic Health still lacked firm commitments from any payers to reimburse Oncotype DX. Explores the decisions the Genomic Health team had to make in defining the marketing plan, pricing, and reimbursement strategies that would give it the greatest chance of success in bringing its new product to market.
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Case Analysis of Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
Genomic Health: Launching a Paradigm Shift...and an Innovative New Test 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. Genomic Health: Launching a Paradigm Shift...and an Innovative New Test 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. Genomic Health: Launching a Paradigm Shift...and an Innovative New Test case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Genomic Health: Launching a Paradigm Shift...and an Innovative New Test will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.
Case Study Solutions Background Work
Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test, 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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test 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, Genomic Health: Launching a Paradigm Shift...and an Innovative New Test 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 – Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
Step 1 – Problem Identification of Genomic Health: Launching a Paradigm Shift...and an Innovative New Test - Harvard Business School Case Study
The first step to solve HBR Genomic Health: Launching a Paradigm Shift...and an Innovative New Test 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 Genomic Dx 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 Genomic Dx, 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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test.
The external environment analysis of Genomic Health: Launching a Paradigm Shift...and an Innovative New Test 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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test case study. PESTEL analysis of " Genomic Health: Launching a Paradigm Shift...and an Innovative New Test" 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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test macro-environment and how it impacts the businesses of the firm.
How to do PESTEL Analysis for Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
To do comprehensive PESTEL analysis of case study – Genomic Health: Launching a Paradigm Shift...and an Innovative New Test , we have researched numerous components under the six factors of PESTEL analysis.
Political Factors that Impact Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
Government policies have significant impact on the business environment of any country. The firm in “ Genomic Health: Launching a Paradigm Shift...and an Innovative New Test ” 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 Genomic Dx is operating, firms are required to store customer data within the premises of the country. Genomic Dx 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. Genomic Health: Launching a Paradigm Shift...and an Innovative New Test has numerous instances where the competition regulations aspects can be scrutinized.
Import restrictions on products – Before entering the new market, Genomic Dx in case study Genomic Health: Launching a Paradigm Shift...and an Innovative New Test" 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. Genomic Dx in case study “ Genomic Health: Launching a Paradigm Shift...and an Innovative New Test ” should look into these export restrictions policies.
Foreign Direct Investment Policies – Government policies favors local companies over international policies, Genomic Dx in case study “ Genomic Health: Launching a Paradigm Shift...and an Innovative New Test ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.
Taxation & Regulation Impact on Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
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 “ Genomic Health: Launching a Paradigm Shift...and an Innovative New Test ” 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 Genomic Dx can compete against other competitors.
Government Scheme & Subsidies Impact on Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test 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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
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 – Genomic Dx 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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
Social Factors that Impact Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
Technological Factors that Impact Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
Environmental Factors that Impact Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
Legal Factors that Impact Genomic Health: Launching a Paradigm Shift...and an Innovative New Test
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 Genomic Health: Launching a Paradigm Shift...and an Innovative New Test case study. PESTEL analysis of " Genomic Health: Launching a Paradigm Shift...and an Innovative New Test" 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.
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