Case Study: Understanding New Market Segment Requirements
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USA 502 Mace Blvd, Suite 15 Davis, CA 95618 United States Tele: (+1) 530-792-8400 BACKGROUND CHALLENGE IMPACT The Client, a worldwide market leader in software and integrated solutions for minimally- invasive medical treatments, develops and distributes medical systems for use in surgical navigation. Having a strong consolidated presence among academic, tertiary care hospitals, the Company wanted to expand into smaller, community-based hospitals. The Client needed to determine and understand the specific characteristics pertaining to the community-based hospitals. With a restricted budget, it wanted to identify market characteristics among the different segments, as well as, pinpoint to what extent the Company’s marketing mix was aligned with customers’ expectations and needs. SOLUTION Including both current and prospective clients, The MarkeTech Group (TMTG) conducted 20 In-Depth Interviews (IDIs) with key decision makers (administrators, clinicians, and service directors) distributed across 15 U.S. hospitals. The interviews were tailored to meet the particular needs of each type of the different stakeholders. From the information collected, a detailed picture of the secondary market landscape was developed. The study provided a better understanding of the hospital’s decision process for adopting the Client’s products, which allowed the Client to adapt its marketing mix to the targeted segment of community-based hospitals. As a result, the Client incorporated TMTG’s recommendations to move forward with identified product features, pricing alternatives, distribution channels, and promotional needs into its sales and service processes. EUROPE / FRANCE 3 rue Emile Péhant 44000 Nantes France Tel: +33 (0)2 72 01 00 80 www.themarketechgroup.com MARKET METHODOLOGY MIX South America Europe Qualitative Research Strategic Consulting Quantitative Asia PROFILE CLIENT TYPE PROJECT CATEGORY PRODUCT CREATION LAUNCH PREPARATION Medical Device Medical Imaging Medical Diagnostics Medical IT/eHealth Biotechnologies Pharmaceuticals Technology Assessment Opportunity Analysis Customer and Product Requirements Product Concept Testing Segmentation Analysis Brand Positioning Packaging and Materials Testing Go to Market Planning Pricing PRODUCT MONITORING Customer Satisfaction and Loyalty Post Launch Acceptance MARKET RESEARCH AND PLANNING Custom Market Analysis Market Mix Analysis Understanding New Market Segment Requirements TECHNOLOGY GO / NO GO North America
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Visit us on the web: http://www.themarketechgroup.com/?utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=Case+Studies About Us: With offices in North America and Europe, The MarkeTech Group provides a unique combination of extensive marketing research methodology expertise, deep medical technology domain knowledge and value-added strategic marketing consulting to medical technology companies who seek high quality marketing research studies and professional marketing strategy consulting. The MarkeTech Group's team of marketing research and strategy experts take pride in integrating their leading voice of customer (VOC) research expertise and strategic consulting into their clients' marketing and R&D departments to help successfully launch and maintain profitable products in healthcare. The MarkeTech Group, LLC 502 Mace Blvd, Suite 15 Davis, CA 95618 Tele: (+1) 530-792-8400 Fax: (+1) 530-792-8447 The MarkeTech Group, SARL 3, Rue Emile Péhant 44 000 Nantes Tele: +33 (0)2 72 01 00 80 Fax: +33 (0)2 40 48 29 40 Contact Us: http://www.themarketechgroup.com/index.php?page=Contact_TMTG&utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=Case+Studies
Transcript of Case Study: Understanding New Market Segment Requirements
USA502 Mace Blvd, Suite 15Davis, CA 95618United StatesTele: (+1) 530-792-8400
BACKGROUND
CHALLENGE
IMPACT
The Client, a worldwide market leader in software and integrated solutions for minimally-invasive medical treatments, develops and distributes medical systems for use in surgical navigation. Having a strong consolidated presence among academic, tertiary care hospitals, the Company wanted to expand into smaller, community-based hospitals.
The Client needed to determine and understand the specific characteristics pertaining to the community-based hospitals. With a restricted budget, it wanted to identify market characteristics among the different segments, as well as, pinpoint to what extent the Company’s marketing mix was aligned with customers’ expectations and needs.
SOLUTIONIncluding both current and prospective clients, The MarkeTech Group (TMTG) conducted 20 In-Depth Interviews (IDIs) with key decision makers (administrators, clinicians, and service directors) distributed across 15 U.S. hospitals. The interviews were tailored to meet the particular needs of each type of the different stakeholders. From the information collected, a detailed picture of the secondary market landscape was developed.
The study provided a better understanding of the hospital’s decision process for adopting the Client’s products, which allowed the Client to adapt its marketing mix to the targeted segment of community-based hospitals. As a result, the Client incorporated TMTG’s recommendations to move forward with identified product features, pricing alternatives, distribution channels, and promotional needs into its sales and service processes.
EUROPE / FRANCE3 rue Emile Péhant
44000 NantesFrance
Tel: +33 (0)2 72 01 00 80www.themarketechgroup.com
MARKET
METHODOLOGY MIX
South AmericaEurope
Qualitative ResearchStrategic Consulting
Quantitative
Asia
PROFILECLIENT TYPE
PROJECT CATEGORY
PRODUCT CREATION
LAUNCH PREPARATION
Medical DeviceMedical Imaging
Medical DiagnosticsMedical IT/eHealth
BiotechnologiesPharmaceuticals
Technology AssessmentOpportunity Analysis
Customer and Product RequirementsProduct Concept Testing
Segmentation AnalysisBrand Positioning
Packaging and Materials Testing
Go to Market PlanningPricing
PRODUCT MONITORINGCustomer Satisfaction and Loyalty
Post Launch Acceptance
MARKET RESEARCH AND PLANNINGCustom Market Analysis
Market Mix Analysis
Understanding New Market Segment Requirements
TECHNOLOGY GO / NO GO
North America
