The Internet changed our lives thoroughly. It brought an irreversible change in the way we communicate, obtain information, look for solutions, jobs or goods. It changed our purchasing behavior, created greater market awareness and opened the doors to a whole world “out there”. Companies started sourcing, purchasing, distributing, marketing and selling in a completely new way. No business area left unaffected by internet – but each one reacted differently.
How was the serum market changed by the Internet and to which extent did it remain “traditional”?
The Internet brought a number of benefits to serum users:
At first place the number of potential sources for serum products and information about them increased enormously. Today people must no longer stick to a bunch of local distributors (big or small). They are no more dependent on information given to them by a sales representative either in the form of a brochure or in a conversation. One can easily and conveniently search and access all different serum products with information about their features, origins and grades offered by businesses around the globe. Alternative supply sources can be quickly found, prices compared - the number of options has greatly increased.
Internet also increased the number of serum offers on the market, created a bigger, international market place where a much greater variety of products is displayed.
Internet brought along more information about serum products in general. As in all other areas, this is indeed A LOT OF information, and may be as well confusing and not always reliable.
Internet created shorter and faster connections between serum sellers and buyers. It brought speed and convenience to the business process.
Internet made important regulatory information available to stakeholders helping them understand better governmental requirements around the globe. There is a challenge however – the information is spread over numerous official and unofficial sites. Searches are difficult and there is still no “quick and easy” guide how to handle specific questions regarding serum imports and exports, for example.
Thanks to Internet, information about serum quality standards became more accessible. In general there is a great variety in the design of quality reporting documents making comparison among different suppliers difficult. However some standards have been already created and published. Some years ago the International Serum Industry Association developed a standard (setting minimum requirements) for the Certificate of Analysis for Fetal Bovine Serum.
What remained the same:
Despite the increased market transparency certain information still remains hidden – e.g. the sources of raw material. Serum starts its life in the “black box” of a slaughter facility from by-products of the meat manufacturing process. This is an area where high visibility and transparency are not common or welcome. Internet hasn’t brought much changes here.
For many end users it remains unclear which company is a real manufacturer and which one is only a retailer selling under own brand. This information is mainly accessible to market insiders and cannot be found on the Internet.
Although serum suppliers publish a lot of quality information on the Internet comparison is still difficult for the end user – due to the lack of widely accepted standards in serum quality reporting.
The need for physical testing of serum batches against each other continues to exist. Serum as a biological product is subject to batch-to-batch variations – Internet information alone is not enough to support the best purchase decision or determine which batch works best.
Even though a lot of information is easily available on the Internet some serum products and sources can remain inaccessible to the end user. Import / export restrictions or other regulatory requirements may be prohibitive to business. Personal contacts to consultants and regulatory bodies cannot be replaced by checking the Web for relevant instructions.
Serum origin traceability is a concern for many end users. In most cases Internet information is not sufficient for making a purchasing decision. Prior to closing a deal with a serum supplier many end users would consider a paper audit or a site visit. “Know your supplier” is a common rule in the business, personal knowledge is highly valued and of great importance.
Bottom line:
Internet changed to a great extent the way serum is dealt with on the market. From a “voodoo” kind of product serum became a commodity that users access and understand much better now. The mystery is long gone but the sensitivity is still there. Serum business remains in many areas a traditional business built on personal relationship and trust. Consulting an expert with deep market knowledge continues to be a valuable step. It reduces decision risks and helps customers find the best product for the best price. Something Internet cannot do.
