Eli Lilly and Company: Innovation in Diabetes Care. Essay

808 Words Sep 30th, 2013 4 Pages
Eli Lilly and Company: Innovation in Diabetes Care Eli Lilly and Company has success in produce and sells insulin in the United States in 1923 and in 1995 Eli Lilly has dominated the world insulin market with another company. But Eli Lilly has miss some of its’ opportunity in diabetes care when it trying to sell its’ product to the world.
What went wrong with Eli Lilly during that time? Here are few points. First of all, Lilly has trying hard to improve their product. But as the case mentions when Lilly’s “Match” product come out, it become a rival commodities to Lilly’s own old product. When it comes to product life cycle, it true that company needs to put out new product before the old product become less revenue but in this situation
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And the customer are sensitive to the price since those products are using only few times and need to be change all the time. Even though there are some parts that Eli Lilly fail on it but it try hard to understand what their customer really need. Eli Lilly found out that customer would willing to use their new product if they did some change to it such as more easy for customers to using new product or using other technology instead of need to inject. And more important is that Eli Lilly found out that most of their customers don’t have enough of information about diabetes care. So Eli Lilly set up an Controlled Diabetes Services program (CDS) which educating people and building a community of patients the value of their insulin therapy. I think Eli Lilly made a good decision about setting up CDS which can indirectly understand what their customers need and allow more people have more opportunity to get to know their product and use their product. Focusing on know their customer and educating their customer will let more and more people know their new product and form a habit of using their new product. If CDS successfully then Eli Lilly new product such as Match and Insulin pens will have less problem when it sales on the market. Instead of keep on compete with similar product on the market, Eli Lilly should look for new opportunities. Eli Lilly should ask their customers what their value for the
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