A global medical technology company that manufactures and sells a broad range of medical imaging, information technology, medical diagnostics and therapeutic devices.
The Client
A global medical technology company that manufactures and sells a broad range of medical imaging, information technology, medical diagnostics and therapeutic devices
The Challenge
The client has developed a wireless handheld ultrasound system that can be connected to a phone/tablet to display the scan. They wanted to understand the market landscape of handheld ultrasound devices (brand awareness, usage, etc.). The client also wished to evaluate the need of a wireless handheld ultrasound and capture the willingness to pay for the concept.
To understand the market landscape of handheld ultrasound devices :
– Study usage dynamics and reimbursement of handheld ultrasound devices
– Understand brand awareness/usage of different brands of handheld ultrasound
– Evaluate brand considerations for future purchases
To understand the ideal concept offering with the most acceptable pricing :
– Understand customer interest in the original and advanced offering of the product
– Understand the optimal price points of the product for two offerings – original (probe and basic software) and advanced (probe and advanced software) along with understanding the preferred mode of payment – onetime upfront and annual subscription (3 years minimum)
Customer opinion of the client’s wireless handheld ultrasound device was captured. The optimal price for both the offerings (original/advanced) and payment preferences (one time upfront/annual subscription) were identified.
The factors affecting product selection and willingness to pay extra for additional features and services were conveyed to the client. The client had a complete picture of the ideal offering (features expected from key stakeholders) and the pricing for each of the target markets.
