case study: next-gen cardiovascular product roadmap
DESCRIPTION
Visit us on the web: http://www.themarketechgroup.com/?utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=Case+Studies About Us: With offices in North America and Europe, The MarkeTech Group provides a unique combination of extensive marketing research methodology expertise, deep medical technology domain knowledge and value-added strategic marketing consulting to medical technology companies who seek high quality marketing research studies and professional marketing strategy consulting. The MarkeTech Group's team of marketing research and strategy experts take pride in integrating their leading voice of customer (VOC) research expertise and strategic consulting into their clients' marketing and R&D departments to help successfully launch and maintain profitable products in healthcare. The MarkeTech Group, LLC 502 Mace Blvd, Suite 15 Davis, CA 95618 Tele: (+1) 530-792-8400 Fax: (+1) 530-792-8447 The MarkeTech Group, SARL 3, Rue Emile Péhant 44 000 Nantes Tele: +33 (0)2 72 01 00 80 Fax: +33 (0)2 40 48 29 40 Contact Us: http://www.themarketechgroup.com/index.php?page=Contact_TMTG&utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=Case+StudiesTRANSCRIPT
USA502 Mace Blvd, Suite 15Davis, CA 95618United StatesTele: (+1) 530-792-8400
BACKGROUND
CHALLENGE
IMPACT
The Client is a world leader in developing, manufacturing, and marketing a broad range of products to treat cardiovascular disease. The Company is a frontrunner in the various emerging markets driven by the development of advanced technology and the approval of new therapy and product indications.
The Client wanted to gather input and validate preferences for design features to create a "best-in-class" product. Depending on the study findings, these features would potentially be rolled into a new product. In addition, the project would also plan for a series of feature enhancements that would be launched over the next 2-5 years as they became available. It was important to the Client, that The MarkeTech Group (TMTG) identify how different product features are valued and which product features are valued most.
SOLUTIONTMTG surveyed 46 cardiovascular surgeons, 27 cardiologists, and 62 study coordinators distributed across 53 institutions in the U.S., Canada and Europe. Furthermore, TMTG conducted a single quantitative survey utilizing Attribute Benefit Mapping, which identified how users view the benefits of specific product features, as well as, a Choice-based Conjoint Analysis, that identified preferences among those product features.
The Client was able to prioritize engineering development efforts for the next 2 years based on the results and recommendations provided by TMTG. Surprisingly, study results found that surgeons preferred to wait for breakthrough changes rather than few incremen-tal improvements of the existing product. The conjoint clearly identified what trade-offs surgeons were willing to make in terms of time-to-market vs. better features. The survey with coordinators and referring cardiologists also provided the Client with a greater understanding of what could drive more widespread adoption of the technique.
EUROPE / FRANCE3 rue Emile Péhant
44000 NantesFrance
Tel: +33 (0)2 72 01 00 80www.themarketechgroup.com
MARKET
METHODOLOGY MIX
South AmericaEurope
Qualitative ResearchStrategic Consulting
Quantitative
Asia
PROFILECLIENT TYPE
PROJECT CATEGORY
PRODUCT CREATION
LAUNCH PREPARATION
Medical DeviceMedical Imaging
Medical DiagnosticsMedical IT/eHealth
BiotechnologiesPharmaceuticals
Technology AssessmentOpportunity Analysis
Customer and Product RequirementsProduct Concept Testing
Segmentation AnalysisBrand Positioning
Packaging and Materials Testing
Go to Market PlanningPricing
PRODUCT MONITORINGCustomer Satisfaction and Loyalty
Post Launch Acceptance
MARKET RESEARCH AND PLANNINGCustom Market Analysis
Market Mix Analysis
Next-Gen Cardiovascular Product Roadmap
TECHNOLOGY GO / NO GO
North America