Please read the case study provided below and answer the questions asked.
Case: Biopure
Reading: Gourville, J. T. (2006). Eager Sellers and Stony Buyers: Understanding the Psychology of New Product Adoption. Harvard Business Review, 84(6), 98-106. ( I have also attached the article in this order)
The three questions will be equally weighted and so the answer to each should be of roughly equal length. You will need to be concise in this and future papers. Remember that while you need to refer to case facts, your main focus should be on developing and elaborating your own analysis, argument, and key conclusions.
Question 1:
Consider Biopures Hemopure human blood substitute product. Drawing on the video lessons & Eager Sellers article (particularly prospect theory), explain the tradeoffs that switching to Hemopure would present for two consumer segments: (a) the elective surgery segment and (b) the trauma segment. As part of this analysis, explain the gains and losses that would arise from use of this new product for each segment separately. Determine which segment would be a better fit for the Hemopure product.
Question 2:
Now, assume Biopure launches the Oxyglobin product in the veterinary market. Drawing on the video lessons and the Eager Sellers article (e.g., consider gains and losses), craft a winning customer value proposition for Oxyglobin. Describe and briefly justify each facet of your proposed customer value proposition (i.e., what, who, how).
Question 3:
Classify Oxyglobin from among the four types of innovation in the Eager Sellers article (i.e., Easy Sell, Smash Hit, Sure Failure, Long Haul on p.105). Justify your classification according to the criteria used in the article. Then, based on your classification, draw from recommendations in the article to provide Biopure with one key piece of advice about their strategy for Oxyglobin (briefly explain why your advice is important).
Instruction:
Please indicate the word count at the start of the document by writing something like ” “xx” words of answer text” at the start of the paper. The word count only needs to include words that are actually part of your answer text. That is, you can exclude citations, cover page text, and the like from the word count. For fairness, we can only grade content up to 800 words of answer text point. We ask that you use a 12-point-font and double spacing because it makes the paper easy to read. Please also label the answer with “Q1”, “Q2”, etc. for the same reason. Avoid using appendices on assignments.
If the writer has any queries, please feel free to reach out to me at the earliest.
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