Market Segmentation Analysis for a Leading Polymerase Chain Reaction Machine Manufacturer Helps Streamline their Marketing Process
In recent times, continuous technological advances have paved the way for advanced healthcare diagnostic devices such as the polymerase chain reaction equipment. However, to cater to the needs of price-sensitive customers, manufacturers are looking to seek ways to offer efficient and user-friendly medical equipment while delivering utmost accuracy in diagnostics. To shift from traditional methods […]READ MORE >>
In recent times, continuous technological advances have paved the way for advanced healthcare diagnostic devices such as the polymerase chain reaction equipment. However, to cater to the needs of price-sensitive customers, manufacturers are looking to seek ways to offer efficient and user-friendly medical equipment while delivering utmost accuracy in diagnostics. To shift from traditional methods and offer better visibility into the diagnostic procedures, renowned polymerase chain reaction equipment companies are facing the need for market segmentation analysis. In the medical devices market space, utilizing an effective market segmentation strategy helps companies focus on the marketing efforts and examine customer behavior. Market segmentation can also assist companies to define potential markets and then aggressively allocate resources to these segments. Moreover, with the aid of market segmentation analysis, companies will be able to discover new and niche market segments and business opportunities and position their products effectively.
With the relentless competition in the medical equipment space, organizations are approaching companies like Infiniti Research. Infiniti’s market segmentation analysis is all about profiling the potential customers and delivering effective strategies to meet the needs and wants of the end-users. With the help of market segmentation analysis, companies can avoid potential bottlenecks and boost customer loyalty.
The Business Challenge
A renowned client in the polymerase chain reaction equipment manufacturing space was facing certain predicaments understanding potential market segments and profiling customers. The client wanted to seek ways to identify niche market segments and improve their brand recognition and profit margins. Beyond sales and marketing, the polymerase chain reaction equipment firm wanted to improve their brand affinity and tailor offerings to precisely meet the needs of the customers. Also, with the help of market segmentation analysis, the polymerase chain reaction equipment firm wanted to implement a robust segmentation strategy to deliver adequate products and services to their target audience.
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To define potential target segments and implement effective advertising campaigns, Infiniti’s market segmentation analysts carried out extensive qualitative and quantitative research, comprising interviews and discussions with leading stakeholders in the polymerase chain reaction equipment space. To further generate sales, the market segmentation analysts at Infiniti also compiled information across a wide array of proprietary sources such as paid industry databases, company presentations, and industry forums.
Benefits of the Market Segmentation Analysis
- Identified potential group of customers and targeted specific products and services
- Precisely met the needs of the customers and gained a major share in the market
- Tailored products and services to meet the needs of each individual segment
- Designed sales and marketing campaigns and improved brand loyalty
- Determined branding strategies and kept a brand in tune with customers
Benefits of Our Integrated Approach
With the help of Infiniti’s market segmentation analysis, the polymerase chain reaction equipment firm was able to leverage co-joint analysis to split a category into different levels. Also, the engagement assisted the client in performing a need-based analysis and tailoring the products and services accordingly. Moreover, the polymerase chain reaction equipment firm was able to understand the economic potential of each individual target segments and devise marketing strategies for each of these market segments.
A must-read case study for strategy experts and decision makers looking to develop an understanding of the medical devices industry.
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