Team:Aachen/PolicyPractices/Economics
From 2014.igem.org
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In the center of every economic analysis are the customers and their needs and desires. Every commercial company is interested in satisfying and dealing with all customer needs for better sales figures, in order to maintain regular clientele. Both measures aim for '''higher financial profits'''. On the global seller’s market of technical laboratory equipment there is a permanent competition between the existing providers. On the one hand, this competition depends on the mentioned financial profits and, on the other hand, on the following factors: technical improvement followed by price wars. Due to globalization products from the Asian market are increasingly competing with the American and European market resulting in intensitief price wars. On the Asian market personnel and production costs are much less and thus the same product can be sold with higher profits. Some of these products are less expensive but are often of lower quality, too. However, for a company it is important to chose a good '''price-performance ratio''' because this factor always catch customers and influence their purchase decision. | In the center of every economic analysis are the customers and their needs and desires. Every commercial company is interested in satisfying and dealing with all customer needs for better sales figures, in order to maintain regular clientele. Both measures aim for '''higher financial profits'''. On the global seller’s market of technical laboratory equipment there is a permanent competition between the existing providers. On the one hand, this competition depends on the mentioned financial profits and, on the other hand, on the following factors: technical improvement followed by price wars. Due to globalization products from the Asian market are increasingly competing with the American and European market resulting in intensitief price wars. On the Asian market personnel and production costs are much less and thus the same product can be sold with higher profits. Some of these products are less expensive but are often of lower quality, too. However, for a company it is important to chose a good '''price-performance ratio''' because this factor always catch customers and influence their purchase decision. | ||
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- | {{Team:Aachen/FigureFloat|TeamAachen DiagrammThermoScientific.png|title=Costs and operating expenses for companies producing technical laboratory equipment|subtitle= | + | {{Team:Aachen/FigureFloat|TeamAachen DiagrammThermoScientific.png|title=Costs and operating expenses for companies producing technical laboratory equipment|subtitle=(Thermo Fisher Scientific, 2013)|width=600px}} |
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Take a look at cost calculations for technical laboratory equipment including development, production, transport, warehousing and sale. Usually, you will find that in this branche there are really low costs for research and development, restruction and amorthilisation. In contrast, general expenses and costs for administartion, revenues, and sales are high. Lastly, financial profit is a big cost point cause businesses have to be self-financing. In general, these factors are making '''technical equipment for labs really expensive''', and therefore unaffordable for low budget instutions. | Take a look at cost calculations for technical laboratory equipment including development, production, transport, warehousing and sale. Usually, you will find that in this branche there are really low costs for research and development, restruction and amorthilisation. In contrast, general expenses and costs for administartion, revenues, and sales are high. Lastly, financial profit is a big cost point cause businesses have to be self-financing. In general, these factors are making '''technical equipment for labs really expensive''', and therefore unaffordable for low budget instutions. | ||
- | One of the world's biggest producers of laboratory products is [http://www.thermofisher.com/en/home.html Thermo Fisher Scientific]. They also offer photometers and other equipment. The image on the left side shows all costs and operating expenses listed in the [http://ir.thermofisher.com/investors/financial-information/annual-reports/default.aspx | + | One of the world's biggest producers of laboratory products is [http://www.thermofisher.com/en/home.html Thermo Fisher Scientific]. They also offer photometers and other equipment. The image on the left side shows all costs and operating expenses listed in the [http://ir.thermofisher.com/investors/financial-information/annual-reports/default.aspx Annual Report 2013] from Thermo Fisher Scientific. |
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+ | ==References== | ||
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+ | Annual report. (2013). Thermo Fisher Scientific. Available at http://www.thermofisher.com/en/home.html. | ||
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Revision as of 15:28, 17 October 2014
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