Innovation Mapping for Disruptive Device Developers

Adjacent Market Analysis for a Diagnostic Products Market Leader

Case Study

Project Description

zoom-62780642-3Medi-Vantage helped our client identify market adjacencies to solidify their market leadership position while addressing performance issues in their clinical diagnostics systems.

Situation

For strategic purposes, our client was investigating the supply of products used during the biopsy and sample preparation process as possible adjacent market strategies.

Strategy Questions

  • What products exist on the market today that will address known performance issues of our clinical diagnostics system?
  • Will these products have good strategic fit using an adjacent market strategy?
  • Will this strategy help solidify our market position?
  • What messaging and product positioning will be required to accomplish both goals?

Medi-Vantage Methodology

Using in-depth interviews and clinical data, the Medi-Vantage team assessed existing products with the potential to address known performance issues of our client’s clinical diagnostics system. Our team used a qualitative survey to assess strategic fit, marketing messaging and positioning. The Medi-vantage analysts then utilized a quantitative survey to assess customer response in the marketplace and impact on market share and leadership.

Results

The adjacent market strategy was clinically well received by customers because it addressed product performance issues. The client’s market leadership position has remained stable.

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