Tag: medical imaging market research

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Customer Intelligence Assists a Leading Medical Imaging Client to Target Potential Customers in the Latin American Market

In the current healthcare landscape, growing health literacy is motivating the patients to seek medical information to make accurate and informed healthcare decisions. Also, with the growing concern for innovations in healthcare, it makes good sense for the healthcare organizations to remain abreast of the changes in the technological space. To realign their operations and make prompt delivery of timely healthcare services to the patients, healthcare providers in the medical imaging space are facing the need for a customer intelligence solution. In the medical imaging space, customer intelligence helps companies gain real-time information on customers’ preferences and tap opportunities to create short-term financial impact. With the aid of customer intelligence, renowned medical imaging companies can address concerns of the customers and make effective and intelligent business decisions.

To gather relevant insights into the customer buying patterns, organizations in the medical imaging space are approaching companies like Infiniti. With expertise in offering a variety of services, Infiniti’s customer intelligence solution assists the patients to get timely and accurate insights on their diagnostic and treatment patterns and effectively respond to the treatments. Also, companies in the healthcare industry can acquire new customers and retain the existing customers.IR_Brochure

The Business Challenge

A renowned medical imaging devices manufacturer with a considerable number of manufacturing units spread across the globe was facing predicaments profiling the potential customers in the Latin American region. The client wanted to gain relevant insights into the customer buying patterns and tailor products and services based on customers’ usage patterns. With the aid of customer intelligence, the medical imaging client wanted to shift from the conventional product-focused business model to a more customer-centric enterprise.

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Our Approach

To better understand the customer’s motivation and buying preferences, Infiniti’s customer intelligence experts carried out an extensive qualitative and quantitative research with leading stakeholders in the medical imaging space. Also, to understand specific geographies and analyze the customer’s spending habits, the customer intelligence experts at Infiniti compiled information across a wide array of proprietary sources such as paid industry databases, company presentations, industry forums, and media platforms.

Benefits of the Customer Intelligence Solution:

  • Proactively identified risks and opportunities with the customer base
  • Assessed the health of customer relationship in the short and the long run
  • Profiled the potential customers and determined the customers who are at the risk of defection
  • Understood the product preference in terms of the key attributes
  • Gained recommendations on the next best actions to acquire, grow and retain customers

Benefits of Our Integrated Approach

The customer intelligence solution helped the medical imaging client understand the buying behavior of customers and generate better ROI from their marketing campaigns. Moreover, the engagement offered by Infiniti also helped the client create an accurate and effective marketing program for the medical imaging firm and tailor the resources based on preferences. With the help of this engagement, the medical imaging client was further able to analyze the customers’ data and devise effective strategies to reduce customer churn and launch products in the Latin American market.

A must-read case study for strategy experts and decision makers looking to target potential customers in the healthcare industry.

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Market Segmentation Analysis for an MRI Manufacturer Helps Improve Competitiveness and Profitability

The current medical imaging industry environment is vibrant and diversified with manufacturers retaining a strong foothold through partnerships, relationships, and joint venture initiatives. With the prevalence of robust compliance issues, the industry has started shifting from an input-based approach to a robust value-based approach with the outcome of improving health care for the patients. The transformation is paving the way for implementing robust healthcare initiatives in the form of advances in medical devices. To become more competitive, manufacturers are implementing an effective market segmentation analysis. Market segmentation analysis helps companies tap potential market segments and effectively reduce healthcare expenditure. Market segmentation analysis further helps companies revamp their existing models and create a value proposition for customers. In the medical imaging industry, manufacturers are relying on market segmentation analysis to gauge through the potential market and develop new products to gain higher returns on investment.

Infiniti’s market segmentation analysis helps clients segment the products based on consumer preferences and target their potential market segments. With our help, the client can identify the potential trends and opportunities in the medical imaging industry and optimize current offerings to improve their operations.

The Business ChallengeIR_Brochure

A leading MRI manufacturer was facing predicaments improving their competitiveness and profitability for their products across the target region. The client wanted to devise effective strategies to identify pathways to accelerate product development without comprising on the quality of the product. Moreover, the client wanted to enhance patient safety while minimizing their resources and maximizing the ROI.

The primary objective of the engagement was to revamp the existing business model and benchmark their product offerings against the competitors. Moreover, the client wanted to deliver robust products and services to the customers to meet their increasing demands.

Our Approach

To keep costs down and remain competitive, the client approached Infiniti Research to devise robust initiatives to drive operational costs while maintaining profitability. Infiniti’s market segmentation analysis experts carried out a blended approach comprising of interviews and discussions with leading stakeholders in the MRI manufacturing space. Also, to analyze the competitiveness among the leading competitors in the medical imaging  industry, the experts also collated data from various proprietary resources such as hospitals, healthcare platforms, newsletters, and publications in the medical imaging industry.

MRI Manufacturer

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Market Segmentation Analysis Solution Benefits:

  • Segment the potential customers into sub-segments based on their preferences
  • Help marketers tap distinct groups and segment them accordingly to develop targeted marketing programs
  • Develop products, services, and marketing strategies to address the specific needs; in turn, improving customer retention
  • Help companies tap potential niche markets segments and identify ways of approaching the market
  • Implement real-time marketing campaigns and decide the data inputs to use
  • Identify segments that are easier to target and accordingly allocate resources

Benefits of Our Integrated Approach:

In a span of eight weeks, the client was able to identify target groups and aggressively benchmark their product offerings with that of competitors. The client was further able to penetrate across new potential markets and venture new segments within the medical device industry. The engagement also helped the client develop an effective marketing plan.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the medical imaging industry.
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IR28

Price Benchmarking Analysis for Computed Radiography X-Ray Equipment Business in the APAC Region

Business Challenge
A Europe-based medical imaging systems manufacturer wanted to benchmark its costs, price, and service agreements against those of its competitors in the computed radiography X-ray equipment business.
Situation
The client wanted to stay ahead in the computed radiography x-ray equipment business, and was looking for advise on the costs, latest prices, and service agreement options adopted by its top three competitors in the APAC region.
Approach
We conducted telephone interviews (CATI) with market stakeholders to gain insights into the current and future cost and pricing scenarios and performed comparative evaluations of the identified competitors to understand the pros and cons of their strategies.
Impact
Based on our insights, the client was able to understand its competitors’ pricing strategies and prioritize service agreement aspects that are essential to obtain cost benefits, while restructuring its own cost and pricing strategies.