Background

  • Client company is a major participant in the global med/surg industry
  • To deliver operational efficiencies reducing COGS and improve the customer experience, the company developed a new adjunct piece to its laparoscopic device platform

Key Objective

  • Define the ideal device portfolio in combination with this new adjunct piece
  • Develop an optimal pricing strategy for the portfolio taking into account the new adjunct piece
  • Ascertain clinician-desired device feature options
  • Assess the use profile of devices by surgeon type and procedure type and the impact on product feature choice
  • Assess the potential and customer response to the new device portfolio
  • Develop a new pricing strategy for the new portfolio and product options
  • Assess willingness to pay for each of the key components & product feature options
  • Understand the relative value of incremental feature options (how does the price affect choices)
  • Identify which factors will allow for migration of clinician users along a pricing continuum
  • Define the optimal price points across the portfolio to derive maximum revenue for the client

Scope

  • Brazil
  • China
  • France
  • Germany
  • India
  • Japan
  • Russia
  • USA

Approach

Phase 1 (Project Set-Up):

  • F2F Kickoff meeting
  • Internal interviews
  • IDR Medical Desk research
  • Agree objectives, scope and approach
  • Provide reference economic info
  • Develop outline of surveys for clinicians and purchasers

Phase 2 (Quantitative Research):

  • Study was double-blinded
  • Conducted across 8 countries
  • 510 web surveys with relevant stakeholders (Bariatric surgeons, general / colorectal surgeons, Thoracic surgeons, Urology surgeons, Purchasing managers)
  • 25 minutes maximum duration
  • Including use of client-generated stimulus material

Phase 3 (Analysis & Final Project Delivery):

  • Consolidate and analyze data to address project objectives & goals
  • Report & 1/2 day delivery workshop

Output

  • Pricing and positioning strategy by country
  • ROI model
  • Final report PowerPoint presentation
  • Key findings, conclusions & recommendations
  • Product & pricing strategy
  • XL-based pricing simulation model

 

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