Business Challenge
A leading medical device manufacturer wanted to gain an in-depth understanding of competitor strategies within the CO2 laser solutions market by leveraging competitive intelligence and benchmarking studies.
Situation
The client was planning for the next version of its service offerings, and it wanted to increase its existing market size by benchmarking its products against the current industry standards as well as best-in-class organizations.
Approach – Competitive Intelligence
We leveraged competitive intelligence and identified companies with the best industry standards and conducted more than 150 interviews with market stakeholders to obtain insights on areas including sales performance in terms of revenue, market share growth and future sales, product development, and operational strategies.
Impact
Based on our insights, the client was able to prioritize 4–5 product aspects that were crucial for customers, develop plans to improve the performance of products and restructure manufacturing and technology standards based on industry standards.
