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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.

We came up with a methodology that gave the client a real understanding of the ideal profile for its product. CMR started with a qualitative phase, conducting 90 minute interviews with lab managers to get an understanding of the purchasing process. We also talked them through the proposed questionnaire for the second phase to ensure questions were understandable and the right form of responses would be generated. Having discussed findings with our client, we reformulated the questionnaire before moving on to phase 2. This used an Adaptive Choice Based Conjoint survey covering the US, EU 5, China, Turkey, Brazil and Australia. This approach asks target respondents to choose their preferred product among sets of customised concepts. With each concept becoming increasingly tailored to the respondent based on their previous answers, we were able to identify which features drive value within this market and how the optimum product might fare against existing competitive offerings.
Sarah Mackinnon - Research Manager