Avacta Group is a small biotech company that is based in Wetherby, Yorkshire. It is focused on the production of high-end biological testing systems that are needed for the pharmaceutical industry and the veterinary market (Blythe 25). It also produces a device known as Optim 1000. It helps drug companies to determine whether their new medicine will be successful or not.
The importance of the given tool could hardly be overestimated as it guarantees good perspectives for a new venture. Avactas second product AX-1 is a desktop blood-testing machine that could help to test blood, saliva, or serum and provide credible results without the additional usage of laboratory equipment. Finally, the companys other important project is the artificial manufacture of antibodies that are used for medical research.
Besides, the above-mentioned product AX-1 has a number of important functions. First, it provides an opportunity to test blood and other important biological substances without the usage of some additional equipment (Blythe 25). Moreover, it helps to save costs and avoid extra spending on transportation and other aspects. Furthermore, AX-1 reduces the risk of samples becoming contaminated or mixed with other important substances (Blythe 25). The given equipment is expected to become an efficient tool and alter the situation in the market. In this regard, AX-1 should be considered an important product that could help Avacta become prosperous.
It is obvious that the company is oriented on the functioning in the biotech area. It tries to create new devices to guarantee a scientific breakthrough and obtain a significant competitive advantage. The given sphere is one of the most promising at the moment as it assures great incomes for the main actors. Moreover, the further evolution of science preconditions the appearance of new opportunities for companies working in the given sphere. That is why Avacta Group might have good perspectives for its further evolution.
However, the main peculiarities of the companys functioning and the nature of its major products predetermine the appearance of conflicts between Avactas researchers and marketers. Yet, implementation of AX-1 could guarantee great incomes for the company. Besides, it is crucial to prove that the equipment is able to work on human beings.
Researchers have already performed a number of tests to assure that AX-1 is able to work on animals. However, it is not enough as the numerous demands for a new medical equipment state that it should be totally safe. For this reason, researchers have to assure that while working with people, AX-1 will not do harm to patients and provide the credible results needed for the investigation. Hence, marketers are obviously interested in the speedy market launch and acquisition of great incomes.
Avacta Group should be considered a creator of the unique equipment that could bring it a significant competitive advantage. At the same time, the introduction of the revolutionary new product provides the company with a unique opportunity to impact the formation of market prices and predetermine their oscillations. For instance, antibodies are rather expensive at the moment. Yet, the creation of artificial antibodies is a complex process, but the final product is cheaper. That is why Avacta Group is able to set prices as it will become the only company that will be able to produce these substances and provide them to research groups, medical establishments, etc. Avacta obviously obtains a serious competitive advantage.
Works Cited
Blythe, Jim. Principles & Practice of Marketing. London: Sage, 2014. Print.