Essay: Business strategies of Bio-Rad Company
Bio-Rad’s follow a direct sale strategy using 1000 trained employees and experienced industry practitioners worldwide. This strategy provides Bio-Rad a competitive advantage over competitors who primarily use distributer approach which is less profitable as compared to direct sales strategy (Bio-Rad Laboratories, 2011)
In terms of Marketing Bio-Rad uses mass marketing strategy by capturing different market segments. This allows the company to attract a larger customer base from various sectors of economy. However they usually prefer those markets where their products and technologies have a significant competitive edge over their opponents (Bio-Rad Laboratories, 2011)
Another very significant business strategy of Bio-Rad involves consolidation of business activities with other companies, products and technologies. In order to be successful this strategy requires certain goals to be accomplished. These goals include consolidation of activities and employees of the acquired companies, managing a profitable relationship with the customers of the acquired company, avoiding any possible disturbance to the current business activities, effective HR management of the employees of new company, properly assessing the worth of new company and assimilating it with the existing business operations and strategies, effective compliance with requirements of business consolidation and mitigating any current or prospective impediments in conduct of business (Bio-Rad Laboratories, 2011)
Bio-Rad has strict quality control procedures to assure consistent quality provided to its customers, generation after generation. This is a part of overall business strategy of Bio-Rad (Bio-Rad Laboratories, 2011).