Customer Value Product
Product features are the actual characteristics that illustrate the product’s appearance, capabilities and components, and they should provide benefits to the end-users (Armstrong & Kotler, 2020). Our 3D bioprinter focuses on speed, size, accuracy, durability, and materials (Stokes & Lomax, 2008). Unlike regular bioprinters that operate at a speed of 150mm per second, our bioprinter works at 260mm per second with a travel speed of 410mm per second. Our 3D bioprinter is the fastest in the market because we understand that time is vital to the user. Further, while other products on the market contain size limitation, our product can print huge models without printing numerous pieces which makes it the best 3D bioprinter in the world. The 3D bioprinter is also tremendously accurate with a 43-micron minimum layer and high resolution. The product balances resolution and speed to provide the most accurate results to the users. Additionally, unlike other 3D printers in the market, our product is durable and requires minimal maintenance. The product is developed to be used on a daily basis, and therefore they contain the best quality parts possible. Finally, our 3D bioprinter can print numerous and endless possibilities of materials such as tissue and organs, and pills and drugs.
Currently, 3D bioprinters prices range from around 180,000-200,000 USD. Since our product is of the highest quality in the market, the price will be 200,000 USD to reflect the quality (Waghmare & Jagtap, 2019). The pricing will include discounts depending on the number of 3D bioprinters purchased. Payment arrangements will be agreed upon according to the customer, which might differ from individuals to institutions. Unlike other companies, our price contains some benefits to the customers, such as guarantee, installation, free delivery, and free after-sale services. Further, the price is based on various factors such as product cost, characteristics, company objectives, competitive situation, product demand, consumer’s behaviour, and government regulations (Schindler, 2012).
References
Armstrong, G., & Kotler, P. (2020). Marketing: An Introduction (14th ed.). Pearson.
Schindler, R. (2012). Pricing strategies : a marketing approach. Sage Publications, Inc.
Stokes, D., & Lomax, W. (2008). Marketing : a brief introduction. Thomson.
Waghmare, M. P., & Jagtap, S. D. (2019). Marketing and Salesmanship (Part – I). In Google Books. Prashant Publications.