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Exporting Wellness Services to Global Markets
Steve Finikiotis with Krisna Hanks | May 14, 2013
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The key themes of this topic:
–Highlight emerging wellness opportunities from a global perspective
–Why we’re on the cusp of a worldwide revolution in healthcare delivery
–Look at why North American players are a strong fit for international markets, especially those in developing regions
–What can we do to prepare our organizations to find and tap the right opportunities
Themes
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–Beginning our 11th year delivering services to markets on five continents
–Bringing leadership and experience in a range of services and disciplines
–Applying an analytical framework for helping clients make an impact in global markets
–Providing a growing worldwide network of colleagues and partners in private and public sectors
–Using an innovative collaborative platform to accelerate knowledge-transfer among stakeholders
About Osprey
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Key questions our team explores:
−What is the potential size of the market? Are there potential adjacent opportunities within reach?
−How can we learn and address customer preferences?
−What new products-services can be offered, and how should they be tailored for the local market/context?
−Who are the competitors, and how are they represented?
−What particular market-entry strategies should be applied?
−What partners can we convene to grow while building relationships with government private sector players?
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North American companies are poised to play a critical market-shaping role.
Here’s the deal
We’re on the cusp of a global revolution in health and wellness – a revolution being led by entrepreneurs.
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The case for wellness
Nearly 66% of companies with effective wellness programs believe they perform better than their competitors. Towers Watson, 2011
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Macro drivers transforming global wellness:
① The rise of middle classes – millions of
consumers -- across emerging markets
② The rise of the private sector, along with foreign
direct investment and cross—border trade
③ An aging population in developed markets
④ The spread of a culture of wellness
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The U.S. and Canada are hothouse markets…
Image: CCBY under Creative Commons License
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① Technology tools
② Management practices
③ Program administration expertise
North American players and emerging markets
Interlocking features / capabilities + demand:
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Market Opportunity Assessment:
–Identify promising markets and segments
–Analyze target markets – sizing, forecasting and modelling
–Define key market drivers along with macro trends and local drivers
Key Preparatory Issues:
–Gather and analyze information to support successful “go-to-market” strategies
–Help clients leverage their competitive advantages
–Develop and address market-entry scenarios
Analytical framework
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Develop in-market customer insight:
–Customer segmentation
–Preference analysis – customer attitudes, needs, wants and expectations
–Tools of the trade: quantitative and qualitative research
Go-to-market Issues:
–Understand market features, demographics and trends
–Identify drivers that support product feature decisions
–Develop programs to boost customer loyalty, brand equity, and market share
High growth markets
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11 Tips for Success
−Focus on promising markets with which you have an affinity. −Find the right partners and build strong relationships.
−Spend quality time “in-market”
−Foster a culture of globalism in your organization.
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−Cultivate a global mindset
−Collaborate with local partners and suppliers
−Think globally but focus locally
Wrap-up Keys
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Steve Finikiotis @finikiotis [email protected] Join the conversation www.ospreyvision.com/blog,
Stay in touch…
TouchPoints
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Osprey
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