Case Study: Understanding the Market View of Implanted LVAs
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USA 502 Mace Blvd, Suite 15 Davis, CA 95618 United States Tele: (+1) 530-792-8400 BACKGROUND CHALLENGE IMPACT The Client is a leader in cardiac pump technology to treat Congestive Heart Failure (CHF) disease. The Company was exploring the need for a next generation product by physi- cians and patients. The Company was investigating the tradeoffs between patient satisfaction, the surgical challenge, and acceptance by physicians. The Client wanted to understand the trade-off between cost and features from the patient’s and physician’s perspective. SOLUTION The MarkeTech Group (TMTG) used 22 interviews with physicians experts and patients to determine design issues. Based on this information, TMTG designed a survey instrument using conjoint analysis to statistically quantify product feature trade-offs. Using the survey data, TMTG helped the Client identify the relative value of different product benefits from both patient and clinician perspectives. The Client’s research and development team was able to prioritize design features to best meet customer prefer- ences. The Client’s marketing team was able to identify target markets and clarify messaging to maximize adoption. EUROPE / FRANCE 3 rue Emile Péhant 44000 Nantes France Tel: +33 (0)2 72 01 00 80 www.themarketechgroup.com MARKET METHODOLOGY MIX South America Europe Qualitative Research Strategic Consulting Quantitative Asia PROFILE CLIENT TYPE PROJECT CATEGORY PRODUCT CREATION LAUNCH PREPARATION Medical Device Medical Imaging Medical Diagnostics Medical IT/eHealth Biotechnologies Pharmaceuticals Technology Assessment Opportunity Analysis Customer and Product Requirements Product Concept Testing Segmentation Analysis Brand Positioning Packaging and Materials Testing Go to Market Planning Pricing PRODUCT MONITORING Customer Satisfaction and Loyalty Post Launch Acceptance MARKET RESEARCH AND PLANNING Custom Market Analysis Market Mix Analysis Understanding the Market View of Implanted LVAs TECHNOLOGY GO / NO GO North America
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Visit us on the web: http://www.themarketechgroup.com/?utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=Case+Studies About Us: With offices in North America and Europe, The MarkeTech Group provides a unique combination of extensive marketing research methodology expertise, deep medical technology domain knowledge and value-added strategic marketing consulting to medical technology companies who seek high quality marketing research studies and professional marketing strategy consulting. The MarkeTech Group's team of marketing research and strategy experts take pride in integrating their leading voice of customer (VOC) research expertise and strategic consulting into their clients' marketing and R&D departments to help successfully launch and maintain profitable products in healthcare. The MarkeTech Group, LLC 502 Mace Blvd, Suite 15 Davis, CA 95618 Tele: (+1) 530-792-8400 Fax: (+1) 530-792-8447 The MarkeTech Group, SARL 3, Rue Emile Péhant 44 000 Nantes Tele: +33 (0)2 72 01 00 80 Fax: +33 (0)2 40 48 29 40 Contact Us: http://www.themarketechgroup.com/index.php?page=Contact_TMTG&utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=Case+Studies
Transcript of Case Study: Understanding the Market View of Implanted LVAs
USA502 Mace Blvd, Suite 15Davis, CA 95618United StatesTele: (+1) 530-792-8400
BACKGROUND
CHALLENGE
IMPACT
The Client is a leader in cardiac pump technology to treat Congestive Heart Failure (CHF) disease. The Company was exploring the need for a next generation product by physi-cians and patients.
The Company was investigating the tradeoffs between patient satisfaction, the surgical challenge, and acceptance by physicians. The Client wanted to understand the trade-off between cost and features from the patient’s and physician’s perspective.
SOLUTIONThe MarkeTech Group (TMTG) used 22 interviews with physicians experts and patients to determine design issues. Based on this information, TMTG designed a survey instrument using conjoint analysis to statistically quantify product feature trade-offs.
Using the survey data, TMTG helped the Client identify the relative value of different product benefits from both patient and clinician perspectives. The Client’s research and development team was able to prioritize design features to best meet customer prefer-ences. The Client’s marketing team was able to identify target markets and clarify messaging to maximize adoption.
EUROPE / FRANCE3 rue Emile Péhant
44000 NantesFrance
Tel: +33 (0)2 72 01 00 80www.themarketechgroup.com
MARKET
METHODOLOGY MIX
South AmericaEurope
Qualitative ResearchStrategic Consulting
Quantitative
Asia
PROFILECLIENT TYPE
PROJECT CATEGORY
PRODUCT CREATION
LAUNCH PREPARATION
Medical DeviceMedical Imaging
Medical DiagnosticsMedical IT/eHealth
BiotechnologiesPharmaceuticals
Technology AssessmentOpportunity Analysis
Customer and Product RequirementsProduct Concept Testing
Segmentation AnalysisBrand Positioning
Packaging and Materials Testing
Go to Market PlanningPricing
PRODUCT MONITORINGCustomer Satisfaction and Loyalty
Post Launch Acceptance
MARKET RESEARCH AND PLANNINGCustom Market Analysis
Market Mix Analysis
Understanding the MarketView of Implanted LVAs
TECHNOLOGY GO / NO GO
North America
