entering a new Business Segment?
Multiple companies plan to enter new markets. However, trying to find their way in unchartered waters means for inexperienced companies taking some major risks. By using its broad expertise in the target markets managing the corresponding process, MEDTECH NAVIGATORS guide and implement a realistic approach.
The precision-milling machine business unit of this globally active client was tasked with doubling both, turnover and profitability within 3 years. To achieve this, the initial strategy was to focus on attractive, up-and-coming market sectors such as the medical technology.
The client however lacked in-depth knowledge of business logic, customer expectations and competition in the target market. With the medical technology market facing increasing pressure on margins, growing competition from emerging markets and increasing higher regulatory hurdles, MEDTECH NAVIGATORS carried out the strategic analysis and business planning. In this rapidly changing business environment, profitability, market development and an adaptable business model have become number one priorities. This results in a much more demanding production environment, so that the focus shifts on reducing manufacturing costs, scaling-up new products to serial production more effectively and to launch new products even faster.
IMPLEMENTATION
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Analysis of current business activities in the medical technology industry and identification of strategic guidelines based on consistent segmentation of markets, products and technologies.
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Selection of the four most promising segments offering the best fit with the client’s core competencies. Specification of the range of services to be offered to individual customer categories including assessment of the current state of competition.
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Verification of the in-depth analysis conducting interviews with existing and potential customers.
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Developing a business strategy, including fine-tuning the innovation portfolio and a tailored business and market development strategy.
CUSTOMER BENEFITS
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The solid market expertise provided by us permits a realistic assessment of the current business situation and identification of the most promising strategy.
- we developed the key success factors for the carefully selected segments and indicate the services and products needed in order to realize their business potentials.
- The masterplan produced helps the client to successfully establish itself as a solution provider offering broad expertise in application development globally.