eCommerce Strategies for the Life Science Market

Life science suppliers were among the first companies in any industry to grasp the commercial potential of the Web and some leading companies are now receiving up to 40% of their orders online. Many companies, however, have found that simply launching an electronic catalog and shopping cart are not enough to generate online purchases, so this report probes the technological and organizational challenges associated with eCommerce. Specifically, the report examines the critical elements of a successful eCommerce strategy from developing the optimal mix of relevant content to scientists’ need for easy access to product information, pricing, convenient ordering and technical support.

Study Objectives:

This report will help life science companies identify the critical elements of a successful eCommerce strategy. From the perspective of life scientists, this report:

Assesses customer perceptions of the risks and benefits of eCommerce in the life sciences

Determines the percent of product orders placed online by product category

Quantifies the customer value of eCommerce purchases by calculating the amount, frequency, and recency of online orders by product category

Explains the influence of pricing on the online ordering process and customer’s use of online ordering tools to obtain pricing information

Specifies customer preferences for page load times, product locators, and Web site speed during the check-out process

Details the types of information customers need to facilitate their online ordering

Identifies the types of assistance customers need to facilitate their use of a Web site’s eCommerce functions

Ascertains which suppliers have model eCommerce sites

Measures customer satisfaction with key online ordering tools

Highlights Web site features that help customize the eCommerce experience

Reveals Web site features that encourage repeat eCommerce business

Outlines challenges customers perceive that limit their further adoption of online ordering

Summarizes the reasons life scientists do not purchase products online

PDF Format

Publication Date: June 2007

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