Unseen Factors admin August 23, 2021

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Unseen Factors

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Unseen Factors

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Market Research Solves the Mystery of a Disappointing Biomedical Product Launch

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Market Research Solves the Mystery of a Disappointing Biomedical Product Launch

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Our client, a biomedical equipment manufacturer, was confident that their latest product upgrade would fuel double-digit revenue growth. First quarter sales, however, were far behind forecast.
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[av_heading heading=’Client Challenge’ tag=’h2′ link=” link_target=” style=’blockquote modern-quote’ size=” subheading_active=” subheading_size=” margin=” padding=’10’ icon_padding=’10’ color=” custom_font=” icon_color=” show_icon=” icon=’ue800′ font=” icon_size=” custom_class=” id=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” av_uid=’av-62bab4′][/av_heading]

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The client was headed for a disappointment with major financial fallout when they asked us to conduct qualitative market research to discover the reasons behind the unsatisfactory sales.
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Insight. Initially, the client approached us with a general interest in “interviewing a few customers.” However, after a thorough assessment of the situation, including the competitive environment and industry sales and marketing practices, we recommended a study that went into greater depth and examined a wider range of topics that could affect purchasing decisions.

Solution. We designed a study that included channel partners such as independent sales reps and technical support consultants in addition to customers. The range of topics included:

  • Existing product usage patterns and life cycles
  • Purchasing cycle length
  • Factors in purchasing decisions
  • Channels used for product information
  • Awareness level of the current product and vs. competitor products
  • Customer service and support experiences
  • Responses to different approaches to marketing creative

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[av_heading heading=’Success’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=” size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=” custom_font=” subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” id=” custom_class=” template_class=” av_uid=’av-loyp3lxp’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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The study uncovered several impediments to sales of which the client was unaware. This included:

  • Brand confusion, due to a lack of understanding that the new product was the “latest and greatest” upgrade to long-established legacy products from two brands that our client had recently acquired
  • Inconsistencies in the completeness and accuracy of the client’s CRM database, leading to imprecise customer targeting
  • Inconsistent customer experiences with the client’s sales and technical support representatives
  • Misalignment of the client’s marketing strategies, channel and media mix, and creative approaches with their customers’ habits in seeking product information

The client responded enthusiastically to the many unexpected insights that our research uncovered. They reported that the study provided a much clearer sense of direction to guide their re-launch of the product.

How can we help you achieve success? Contact us to get started.
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