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Good To Go Test Case Solution
Good To Go Test is a life sciences-based start-up with large competitors in the market like the Shoppers Drug Mart and Life Labs. Thus, it is extremely crucial for the start-up to effectively position itself in the market. Positioning is an extremely vital element in healthcare marketing, whereby brands and organizations work upon the hefty task to create a good and a unique perception in consumer’s minds, different from its competitors (Hayzlett, 2016). An efficient positioning strategy is one that adopts attributes which simultaneously targets its customers needs and fill out its competitor’s weaknesses.
Following questions are answered in this case study solution
How does GTGT position itself to achieve and sustain competitive advantages in a crowded competitive space that has some large company competitors (e.g., Shoppers Drug Mart, LifeLabs)?
Other than Pharmacy partnerships and Social Media awareness building, what are the most effective strategic avenues that GTGT needs to undertake to build a substantial market share?
What should GTGT business model look like for future revenue growth?
What are the innovation strategies should Bay Area Health Trust consider to sustain the longevity of Good To Go Test given that the volume of COVID testing in the future is unknown?
Case Analysis for Good To Go Test
In order to devise an effective positioning strategy and achieve a competitive edge, GTGT must conduct extensive market research to identify the present challenges that its target market is facing. It should then adopt such features in its screening services that would target those gaps in the market and thus, adhere to the current needs and wants of the customer. For instance, if through market research GTGT finds out that customers are finding the testing and screening services of LifeLabs increasingly expensive, then GTGT can target its customers by offering them a relatively lower price charge.
With the advent of the COVID-19 pandemic and the ongoing lockdowns, it has become quite challenging for companies, especially start-ups like GTGT, to physically market its products and services. Thus, GTGT must step up its digital game by becoming more tech savvy and informed with information technology. This includes several things ranging from building a responsive website and adopting search engine optimization tools, to using display online ads and leveraging social media (Bina, 2018). Since GTGT would be targeting young individuals who needs PCR tests for attestation and similar purpose and private event organizers, it is essential that the business puts great focus upon paid ads with SEO optimization whereby the right optimal phrases and keywords would help Google to put GTGT to the relevant search ranking. Not only that, but social media marketing and positioning through the right platforms is of high significance. Social media platforms that best suits GTGT positioning are Facebook, Twitter, LinkedIn and Instagram. This would help GTGT in getting better and farther reach to its customers. These platforms are imbedded with free analytics that can act as valuable insights for GTGT to make better informed decisions regarding targeting specific audiences.
In addition to this, GTGT must double check the quality of the screening service it provides. Since COVID-19 is a deadly disease that has been on the rise for the past years, quality would definitely be one of the main priorities of customers. GTGT must follow the guidelines aforementioned by the Quality Management System and must work towards becoming recognized by the International Standard Organization (Gupta, 2018). This would further add credibility in its services as being a start-up that pays great heed to its quality standards and thus, draw GTGT’s image in the target audience’s mind as being customer-centric.
Moreover, GTGT can also position itself in the market through strategic partnerships with reputable pharmacies. This would not only create more brand awareness, but also add more credibility and authenticity in the minds of the target audience regarding the services it provides. Through pharmacy partnerships, GTGT can indulge in activities that can enhance its brand positioning like live screening services being provided on a special occasion. These strategic partnerships when aligned with effective market research and online and social media marketing would greatly help GTGT in creating brand awareness in the market.
2. Other than Pharmacy partnerships and Social Media awareness building, what are the most effective strategic avenues that GTGT needs to undertake to build a substantial market share?
Since COVID-19 is a deadly virus that has spread like wildfire around the globe, governments of all countries are working towards eliminating it completely. GTGT screening services are solely related to detecting coronavirus hence, automatically adding a sort of competitive edge in its services. Seeking government’s support in terms of subsidies and increasing more brand awareness amongst the target market, can prove to be a strategic decision for GTGT.
Moreover, since GTGT target market also include large organizations like business corporations, educational institutes and even hospitals, it would be fruitful for the start-up to form strategic alliances with these organizations as well. Some examples of how GTGT can enhance market share through these strategic alliances can be giving promotions or discounts to students and their families who belong to a school that GTGT has partnered with. GTGT’s beneficiaries Hamilton Health Sciences and McMaster University could be of great assistance for such objectives.
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