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by specialp
4323 days ago
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Image does not mean anything when you are entering a business that is already super competitive, and is amongst the most highly regulated industries. Suppose they actually do get direct to patient testing going, what is to stop Quest/LabCorp for doing the same thing for cheaper? They have massive volume and price advantages. |
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I'd say it matters a great deal. Theranos has assembled a board with very strong ties to the government and, presumably, with an eye toward overcoming -- prophylactically or reactively -- any regulatory challenges that may arise. So, with the regulatory "defensive line" in place, so to speak, Theranos is free to focus on image, consumer marketing, and a steadily growing media blitz.
I would presume that its strategies right now include business development and channel alliances. As such, growing its mindshare and establishing itself as a breakthrough company -- and courting emotional comparisons to Apple -- will help with those goals. They will help by establishing awareness among partners, and indirectly, they'll help by fueling consumer demand. That's a time-tested channel marketing strategy. Companies as diverse as Apple, Nike, and Procter & Gamble are very good at running that playbook. Theranos is in a very differently industry, with a very different rulebook, and very different competitors. And it remains to be seen to what degree these efforts will matter. But they're not wasted efforts.