3 Steps to Launch a New Product

3 Steps to Launch a New Product

A company, of which core market is in cardiac equipment and CRM, was willing to design a product launch

Background

Background

A client, of which core market is in cardiac equipment and CRM, was facing slow growth, price erosion and low adoption rate that are parts of this market.

The client developed a fully innovative device with unique features in the market, that has the possibility to reposition the product without relevant costs/risks for patients.

Objectives

The company aimed to design the product launch so that the unique feature is highlighted, leveraging on the different outcomes and the related health economics (for premium pricing).

The company also sought to develop an innovative service model for clinician proctorship/providers certification to activate an exponential grow of penetration.

Methodology

Methodology

In the first step, Tefen i dentified unmet needs along the patient path flow. The definition of positioning based on the product's perceived value for patients.

In the second step, Tefen performed data analyses, starting from product value and based on strategic pricing framework to determine the premium pricing level.

In the third step, Tefen helped the company execute and monitor the product's launch. It also performed program management of multiple workstreams, introduced KPIs, aligned stakeholders, etc.

Results

Results

In the next four quarters following the launch, the 10M€ revenue mark was passed.

The product now accounts for the largest share of growth in the client's portfolio.

 

Chiara Garavaglia

Partner at Tefen Italy

Life Science and Healthcare Industries Sales & Marketing Expert

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