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How To Identify Opportunities & Grow Market Share in a Specific Hospital Segment
1. HOW TO IDENTIFY OPPORTUNITIES
CASE STUDY
METHODOLOGIES USED:
1. Qualitative Interviews
& GROW MARKET SHARE in a
SPECIFIC HOSPITAL SEGMENT
2. The following case study and data is from a
actual CLIENT project, however the data has
been de-identified to avoid sharing any sensitive
client or confidential information and is intended
for general information only.
5. Research Objectives
CENTRAL RESEARCH QUESTION:
How can we successfully sell our diagnostic imaging product into a specific
hospital market and what is the typical KAP (Knowledge/Attitude/Practice) in
these segments?
6. Research Objectives
CENTRAL RESEARCH QUESTION:
How can we successfully sell our diagnostic imaging product into a specific
hospital market and what is the typical KAP (Knowledge/Attitude/Practice) in
these segments?
1. Define customers’ attitudes in the specific
hospital segment that can be used to support
key marketing decisions
7. Research Objectives
CENTRAL RESEARCH QUESTION:
How can we successfully sell our diagnostic imaging product into a specific
hospital market and what is the typical KAP (Knowledge/Attitude/Practice) in
these segments?
2. Confirm the sales process and the key players involved in
the purchasing process
1. Define customers’ attitudes in the specific
hospital segment that can be used to support
key marketing decisions
8. Research Objectives
CENTRAL RESEARCH QUESTION:
How can we successfully sell our diagnostic imaging product into a specific
hospital market and what is the typical KAP (Knowledge/Attitude/Practice) in
these segments?
3. Identify whether we need to do more to establish brand
awareness
2. Confirm the sales process and the key players involved in
the purchasing process
1. Define customers’ attitudes in the specific
hospital segment that can be used to support
key marketing decisions
9. Research Objectives
CENTRAL RESEARCH QUESTION:
How can we successfully sell our diagnostic imaging product into a specific
hospital market and what is the typical KAP (Knowledge/Attitude/Practice) in
these segments?
3. Identify whether we need to do more to establish brand
awareness
2. Confirm the sales process and the key players involved in
the purchasing process
1. Define customers’ attitudes in the specific
hospital segment that can be used to support
key marketing decisions
4. Formulate “best practice” approach to optimize the sales
call using input and evidence for training
10.
11. …and to provide the Client a comprehensive, unbiased view
of the current KAP (Knowledge/Attitude/Practice) in the
hospital market.
12. 30 IN-DEPTH INTERVIEWS
10 Radiologists
10 Imaging Administrators
10 C-Level Executives
GOALS
PHASE Qualitative Analysis
Identify most important
purchasing drivers and pain
points
Assess brand awareness
Identify opportunities to
grow market share
1
2
3
13. In-Depth Interviews Key Findings 1
Based on the interviews, we found
that Radiologists are the most
influential in this type of product
selection, but consensus has to be
achieved by a purchasing committee.
GOALS
Identify most important
purchasing drivers and pain
points
1
15. In-Depth Interviews Key Findings 1
Variable
?
Respondents INDICATED the TOP 4 competing brands are better than
the CLIENT at fulfilling the 6 primary purchasing factors.
Brand A
Brand B
Brand C
Brand D
CLIENT
16. In-Depth Interviews Key Findings 1
The interviews also
DETERMINED new imaging
equipment investments are
typically driven by increases in:
17. In-Depth Interviews Key Findings 1
PATIENT VOLUME,
The interviews also
DETERMINED new imaging
equipment investments are
typically driven by increases in:
18. In-Depth Interviews Key Findings 1
PATIENT VOLUME,
AGE OF EQUIPMENT,
The interviews also
DETERMINED new imaging
equipment investments are
typically driven by increases in:
19. In-Depth Interviews Key Findings 1
PATIENT VOLUME,
….and purchase upgrades by
local competitive hospitals.
AGE OF EQUIPMENT,
The interviews also
DETERMINED new imaging
equipment investments are
typically driven by increases in:
20. In-Depth Interviews Key Findings 2
GOALS
Assess brand awareness2
The CLIENT’s imaging products have nearly
NO AWARENESS while BRANDS A, B and C are
all seen as TOP-TIER.
3. BRAND C
Well known,
but lags behind
Brand A & B
5. CLIENT
Very Low
Awareness
21. In-Depth Interviews Key Findings 2
Respondents’ perceptions of
the CLIENT’s imaging product
were mostly negative…
“They have made
huge strides, but I
have never seriously
considered them.”
22. In-Depth Interviews Key Findings 2
“It's a gamble to
commit to them
– They are 2nd
Tier.”
Respondents’ perceptions of
the CLIENT’s imaging product
were mostly negative…
23. In-Depth Interviews Key Findings 2
“I do not consider them to be in
the market, no track record. Not
Top-Tier.
Respondents’ perceptions of
the CLIENT’s imaging product
were mostly negative…
24. In-Depth Interviews Key Findings 2
“They have no
presence in the
area.”
Respondents’ perceptions of
the CLIENT’s imaging product
were mostly negative…
25. In-Depth Interviews Key Findings 2
Respondents’ perceptions of
the CLIENT’s imaging product
were mostly negative…
“Do not
know them.”
26. In-Depth Interviews Key Findings 3
GOALS
Identify opportunities to grow
market share
3
Not a single respondent considered the
CLIENT’S PRODUCT for their most recent
purchase due to…
27. In-Depth Interviews Key Findings 3
…however, we FOUND that brand loyalty for this product is
generally weak, providing the CLIENT an OPPORTUNITY to take
market share from Brands A, B, C and D…
28. In-Depth Interviews Key Findings 3
…IF they can INCREASE product awareness and stake claim to a unique and
favorable position in the market to differentiate from the more reputable
technology leaders.
Best in class service
Technology Innovator
Reputable
?
?
?
BRAND ABRAND B
BRAND D
BRAND C
CLIENT
30. FINDINGS and RECOMMENDATIONS
Objectives Key Findings / Recommendations
Define customers’ attitudes in
the specific hospital segment
that can be used to support
key marketing decisions
6 PURCHASING DRIVERS
Client learned the 6 key factors that
drive product selection and how it
ranked in those factors relative to the
competition
1.
31. FINDINGS and RECOMMENDATIONS
Objectives Key Findings / Recommendations
Define customers’ attitudes in
the specific hospital segment
that can be used to support
key marketing decisions
6 PURCHASING DRIVERS
Client learned the 6 key factors that
drive product selection and how it
ranked in those factors relative to the
competition
Confirm the sales process and
the key players involved in the
purchasing process
TARGET RADIOLOGISTS
Radiologists are the key targets the
Client needs to educate and make
aware of its product
1.
2.
32. FINDINGS and RECOMMENDATIONS
Objectives Key Findings / Recommendations
Define customers’ attitudes in
the specific hospital segment
that can be used to support
key marketing decisions
6 PURCHASING DRIVERS
Client learned the 6 key factors that
drive product selection and how it
ranked in those factors relative to the
competition
Confirm the sales process and
the key players involved in the
purchasing process
TARGET RADIOLOGISTS
Radiologists are the key targets the
Client needs to educate and make
aware of its product
Identify whether we need to
do more to establish brand
awareness
INCREASE AWARENESS
The Client was surprised to learn of its
very low brand awareness and poor
perceptions in the market, but was
optimistic based on fact brand loyalty
is weak for this product category
1.
2.
3.
33. FINDINGS and RECOMMENDATIONS
Objectives Key Findings / Recommendations
Define customers’ attitudes in
the specific hospital segment
that can be used to support
key marketing decisions
6 PURCHASING DRIVERS
Client learned the 6 key factors that
drive product selection and how it
ranked in those factors relative to the
competition
Confirm the sales process and
the key players involved in the
purchasing process
TARGET RADIOLOGISTS
Radiologists are the key targets the
Client needs to educate and make
aware of its product
Identify whether we need to
do more to establish brand
awareness
INCREASE AWARENESS
The Client was surprised to learn of its
very low brand awareness and poor
perceptions in the market, but was
optimistic based on fact brand loyalty
is weak for this product category
Formulate “Best Practice”
approach to optimize the
sales call using input and
evidence for training
IMPROVE SALES PROCESS
Provided specific tactical
recommendations to improve sales
engagement with clinical and
business stakeholders based on
feedback from the interviews
1.
2.
3.
4.
34. USA
502 Mace Blvd, Suite 15
Davis, CA 95618
PH: + 1 530-792-8400
FX: + 1 530-792-8447
http://www.themarketechgroup.com/
Europe / France
3 rue Emile Péhant
44000 Nantes
PH: +33 (0)2 72 01 00 80
FX: +33 (0)2 40 48 29 40