Objective: To help the client understand the environment they operate in and design their strategy accordingly to maximize its impact by identifying market forces and classifying them by relevant characteristics, including geography, type, and revenue.
Our client, a leading player, dedicated to developing, distributing, and manufacturing medical radiology equipment wanted to leverage market mapping and business landscape analysis. They wanted to analyze their business performance and identify their next source of growth in the US medical equipment market. By leveraging our expertise, the client also wanted to establish a baseline, which they can use as a benchmark to measure future growth.
The twelve-week project included the following in its broad scope- An Overview of the medical equipment market in the United States, including a segment outlook. In-depth details of the competitive landscape, pricing strategies adopted by leading market players, and emerging trends impacting business growth. Market mapping and business landscape analysis are helpful for organizations considering significant international expansions or those conducting a rigorous strategic planning process- Contact us to get started!
Market mapping and landscape analysis: Our approach
Market mapping and business landscape analysis can be leveraged when businesses are looking to chart their broader strategy and make critical decisions based on factors impacting the business landscape. It can be used to gain an edge in a new target market, discover significant trends or identify competitors. Hence, our market research experts proposed a combination of detailed business landscape analysis and market mapping to spot white spaces within the market.
The engagement comprised of the following phases:
Defining business objectives and scope of the project: In the initial phase, the focus was on conducting market mapping and landscape analysis to identify the goals and determine the key questions the analysis will help answer. This initial analysis shed light on the project’s scope, key focus areas, trends, and other prominent factors impacting business growth.
Analyzing critical information: Our experts identified emerging trends and analyzed various information sources to offer accurate market insights in the second phase of this market mapping and business landscape analysis assessment.
Conducted targeted market research: Our market research experts conducted targeted market research to map the selected field. Primary and secondary research methodologies that were adopted comprised one-on-one interviews with key stakeholders, reviewing online databases, conducting surveys, and one-on-one peer interviews.
Request a proposal to find out how market mapping and business landscape analysis can accelerate your business expansion initiatives.
Integrated research data and analyzed market size: We integrated research data from various sources to provide detailed insights into the market landscape in the third phase. Leveraging these insights, we also worked with key stakeholders and senior leadership teams across the industry to discern insights and implications for the client’s business strategy.
Solutions and recommendations
Through a comprehensive business landscape analysis and market mapping, Infiniti Research developed an in-depth analysis of the medical equipment industry in the United States. Leveraging this information, the experts made the following key recommendations to the client:
- Infiniti’s experts forecasted exponential growth for the medical equipment market and accordingly recommended long-term operational strategies that account for foreseeable market trends and market growth challenges.
- To effectively understand and maneuver the emerging challenges, we offered personalized solutions that helped understand their competitors’ strategies.
- Based on the strategies of key market competitors, Infiniti Research recommended a cost-effective business model to the client with reduced supply chain risks.
- We recommended the appropriate steps to identify white spaces and recommendations on improving market share based on in-depth data collection and research.
Want in-depth insights on the radiology equipment market in the US? Request more information.
Infiniti’s market assessment solutions provided the client with detailed insights into the business landscape. Our market research experts successfully assisted the client in developing an in-depth understanding of key competitors and positioning strategies. Our experts also identified competitor offerings and product/service gaps that the client can capitalize on. By leveraging our market mapping expertise, we also offered in-depth insights on the market’s expected growth, business performance, and growth potential.
The personalized recommendations assisted the client in understanding their business environment and gaining relevant data on competitors and trends impacting growth. The experts also provided an elaborate list of potential clients, companies, market trends, and competitors to help the client capitalize on white space opportunities and establish a strong foothold in the market. Request a free brochure to gain detailed solution insights.