Continuing our mission to provide concrete examples of the benefits of Insight Streamer LifeCycle, today we follow our product into the post-launch world!
Check out previous Insight Streamer LifeCycle blogs, Market Assessment, Conjoint Analysis, Conjoint Pricing Results, Pre-Sales Activities.
Why Customer Perception
With rare exception, positive, aligned customer perception is the cornerstone of product success. You need to understand how your current and future customers feel about your products and services, where you can improve, and then test products under development which incorporate the insights you gathered. Not understanding customer perception is like walking in an unfamiliar, dark room; you may come out okay, but odds are you’re going to stub your toe – or worse.
The Problem Our Client Faced
As discussed in previous blogs in this series (subscribe for more!), the product under consideration is surgical capital equipment with a consumable option. Since our client entered the market over 50 years ago, they have consistently innovated, including a new product variant that was launched this past year. They rely on surgeons to champion and request their product be made available in their hospital. They work hard to prove their product meets clinical efficacy claims, so clinicians are willing to use their product again and again.
How We Helped
In order to understand how their audience perceived their product following its launch, we performed an AAU study to examine the Attitudes toward, Awareness and Usage of their product in the marketplace. The study was conducted through an online survey, among a representative sample for geography, specialty and hospital size. We analyzed the data using several segmentation groups (specialty, years in practice, current recommender, etc.), and reported the data using the EverStream Reporter dashboard we had already created from prior Insight Streamer LifeCycle studies.
This gave our client quick access to the analyzed study data, and the ability to view separate segments of the audience both individually and in comparison, to each other. What they found is customer acceptance of their product overall, but with awareness issues that checked its market potential.
Due to the actionable design of the research (pun intended), they were also able to identify areas where specific advertising would be effective to promote awareness within this segment. Having this information ready at hand allowed our customer to take the appropriate corrective action to properly promote their product to increase market awareness, raise its market profile and ultimately, increase its market share and top line growth.
Keep Following for More
We’re not quite done with the story of this medical product; there is much more to Insight Streamer LifeCycle! Subscribe to our blog and stay tuned for next week when we look at a customer experience study.
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