CMR case study: profiling a new medical device and understanding added value
Adding value to medical devices starts with the correct profile. Doing so can bring considerable value to a brand. Having been the leading innovator in the area of in-vitro diagnostics for over 20 years, our client was seeking to grow its market share in the face of increasing competition.
With low category growth rates and high shares in developed markets our client needed innovation to drive revenue growth. In bringing CMR on board its objective was to identify the most appropriate profile for a new medical device and to understand the added value this would bring to the market.
Results for this project
As a result our client is well on its way to developing a product that will enable it to target upgrades of current business and win new business from competitors. At the same time the new product will bring sufficient added value to users to justify a price premium.