Growing Market Share in Medical Devices
Industry: Medical Devices
Function: Marketing & Sales
A $100MM business unit of a global medical device/ pharmaceutical giant was a newcomer to a market segment dominated by entrenched, deep-pocketed global competitors such as Johnson & Johnson and Bayer.
Working with our client’s marketing department and marketing/technology services providers, we designed, implemented and managed integrated marketing programs, a CRM system and a series of targeted marketing projects. To make these programs successful, we worked with our client to:
- Identify priority marketing objectives, and key customer needs, in their “complex sale” retail environment;
- Aggressively develop new product and services offerings, designed to deliver information, influence, and leverage for our clients sales force with regard to their target customers;
- Design structured processes to collect more market intelligence, convert this market intelligence into meaningful management information, and use it to develop subsequent programs; and
- Managed the cross-organizational business team, covering sales and marketing, IT, finance, vendor-partners, and IT/ systems development.
The goal was daunting—carve market share directly from the segment leaders in a flat market—and our client realized steep gains by taking share from market leaders over a three-year period, using the key programs we worked with them to design and implement.