The client was the global leader in the interventional cardiology medical device industry. The top management was seeking to understand the current and future market trends, the impact of regulatory changes on the market and the likely shift in competitive strategies to define its strategy till 2020.
To develop an assessment of market opportunities in the various segments of this industry, UC Strategy adopted the following approach:
- Assessed the current situation in the market
- Analysed the client’s primary and secondary sales based on different products and geographies through internal client data
- Understood channel dynamics and the potential to go direct/eliminate the distributor in the value chain
- Understood clinician/hospital administrator key purchase criteria and brand perceptions
- Understood and analyze competitor strengths and weaknesses
- Understood current and future scenario of potential government regulations that will affect the company’s core business
For this purpose, the UC Strategy team conducted extensive primary research with ~150 respondents (including interventional cardiologists, hospital administrators/purchase managers, distributors, endovascular physicians and other doctors) across 15 cities
We developed and articulated competitive product positioning across the different segments and defined a marquee account strategy and developing a relevant pricing framework. We also drove growth in the endovascular market while focusing on a distributor led model.