4 Steps to Launch a New Service in The Healthcare Market

4 Steps to Launch a New Service in The Healthcare Market

A major multinational company wanted to launch a new service in the Healthcare market. As a preparation, it needed to understand the market, the competition, and quantify the extant of the market's value 

Background

A major international electronics company had a strategic goal of growing within the Healthcare industry. As a preparation, it wanted to evaluate the opportunity of entering the market of Global Hospital Solutions.

Methodology

The company asked Tefen to help it understand the Healthcare market and its competitive landscape, quantify how big the value of the market is.

4 Steps to Launch a New Service - CS

Above all, the company asked Tefen to help it map the ways by which it could expand its business opportunities, and find value added services. Tefen did this in four steps:

1. Analysis of current trends:

The first set of actions conducted analyzed current market trends. The actions were:

• Analyzing trends in the Healthcare industry
• Assessing Market offering of value added services (VAS)
• Analyzing purchasing models for VAS

2. VAS market assessment:

Tefen created prioritization of the clinical areas maturity and competitiveness, conducted competitive landscape analysis, and estimated the market's potential.

3. Definition of market positioning:

Tefen performed a No-entry risk analysis, defined competitive advantage, and produced strategic positioning for the company

4. Definition of business model and action plan:

Tefen defined a go-to market strategy and defined the investments required for it, designed the governance, and designed the roadmap and action plan.

Results

As a result of the project, the company managed to define the positioning and market entry strategy that secures the company's competitive advantage in the crowded market.

The company also identified 5 specific and tactical market opportunities in order to accelerate market penetration.

As a result of the project, the company also found value added services and projects in 4 hospitals.

Chiara Garavaglia

Partner at Tefen Italy

Life Science and Healthcare Industries Sales & Marketing Expert

Talk to Chiara Garavaglia

Fill the form for some quick advice

CONTACT US

Let's work together!