Theranos Inc.: Pivoting Consumer Health Care
Theranos Inc. (Theranos) was a medical diagnostics enterprise based in Palo Alto, California. Having developed an innovative blood-testing system for deployment in clinical trials by pharmaceutical companies, Theranos was keen on extending the use of its system to individual consumers in the United States and Mexico. In leveraging growth opportunities for its innovation in the burgeoning field of personalized medicine, the company’s chief executive officer faced two managerial dilemmas: How should Theranos navigate the chasm between early adopters (the pharmaceutical companies) and mainstream consumers? And how should Theranos navigate the cost-benefit trade-off, as perceived by individual consumers, in a bid to promote product adoption in the mainstream market?
Collection: Ivey Business School (Canada)
Ref: IVEY-9B15A056-E
Format: PDF
Number of pages: 10
Publication Date: Nov 26, 2015
Language: English
Review date: Nov 26, 2015
What material is included in this case:
Description
Theranos Inc. (Theranos) was a medical diagnostics enterprise based in Palo Alto, California. Having developed an innovative blood-testing system for deployment in clinical trials by pharmaceutical companies, Theranos was keen on extending the use of its system to individual consumers in the United States and Mexico. In leveraging growth opportunities for its innovation in the burgeoning field of personalized medicine, the company’s chief executive officer faced two managerial dilemmas: How should Theranos navigate the chasm between early adopters (the pharmaceutical companies) and mainstream consumers? And how should Theranos navigate the cost-benefit trade-off, as perceived by individual consumers, in a bid to promote product adoption in the mainstream market?
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Year: 2015
Geographic Setting: United States
Industry Setting: Health Care Services;
Learning Objective
The case can be used in programs at the introductory undergraduate, advanced undergraduate, graduate, and executive levels. The case material works well in marketing, strategy, new-product development, innovation, entrepreneurship, and health care courses. Objectives are: ·To understand how a company should transition from dealing with institutional buyers to dealing with individual consumers. ·To understand how a company should navigate the cost-benefit trade-off in a bid to promote new product adoption.
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