Product Positioning Analysis for a Manufacturer Known for Its Innovative Medical Devices
A leading manufacturer of medical devices, with the end goal to effectively position a newly developed product, trusted Fact.MR’s domain expertise to give them accurate and actionable market intelligence on the market for disposable nasal masks and more specialized inhalation anesthesia masks. The client also wanted a holistic perspective on various market aspects including consumption data, region-wise key players, consumer sentiments, and factors impacting the growth of this market globally.
Fact.MR approached various stakeholders including industry experts, medical practitioners, distribution channels, and other probable end users. Using a bottom-up, top-down estimation and pricing analysis approach, Fact.MR conducted several interviews to understand market potentiality of the product in the global and regional markets considering acceptability, risk factors, and pricing patterns.
The data points delivered by Fact.MR helped the client come up with a heat map analysis and product positioning matrix for various players operating in key regions. The opinions of doctors and other medical practitioners helped in chalking out an effective marketing plan, also used for testing the potential performance of the product in the near future.