Professional market development
Exploiting potentials and penetrating markets
Market development means smoothing the path. Outstanding solutions will only take full effect if the market has been developed, analyzed, the objectives have been defined and strategies determined. Solutions may involve a new product, a new form of therapy, a new procedure, an innovative solution. This can also be a product / technology transfer as a different application or another country.
First of all, it is important to know how this can be successful in the new area. Usually, you have to keep your eyes on a lot of things at the same time. A targeted approach is important. This is an easy way of achieving a much greater market success than originally planned.
We will jointly develop a tailor-made and unique strategy and solution for your market development
- What growth opportunities exist in new markets, other target groups and new services?
- What should I do to develop a new market?
- What do I have to keep in mind when opening up a new market?
Take advantage of my support
I am familiar with the markets of medical engineering and technical optics and I know these markets from all perspectives. From my perspective as an external consultant, I am able to identify opportunities and methods that are beneficial to you. Leveraging my experience and directness, achieving your goal (market development) is easy and straight forward.
My range of services include
- Market analysis and research of the competitive environment
- Growth strategies
- Expanding and strengthening your brand
- Business plan development
- Market development strategy and timetable
- On the Track Check
More information on market development?
Other geographic regions as well as new or extended customer groups can offer great market potential for your company. The shift in the age structure of the population especially in Germany, opens up a powerful potential for highly developed medical technology and medical developments in optics.
Concealed behind this age development is an enormous purchasing power. If you are successful in adapting your business model and products to meet the needs of hospitals and institutions caring for the sick and elderly, you will be able to reach an enormous number of potential customers.
If the potential or new target groups are not yet aware of your product you will need to find a way to reach them. Through the appropriate communication strategy, You will need a tailored communication strategy to make your product attractive to potential customers. In order to get your new target customers to listen, your product has to be attractive to them. Sometimes an existing product only needs to be slightly modified has to be offered in different versions. I am happy to advise you and propose an optimal concept for your success.
So it’s about the clever combination of sales channels that match your product or solution. Every sales channel has its strengths and weaknesses.
Potential sales channels in medical engineering and technical optics
- Sales force
- Commercial representative
- Technical sales
- Cooperation
- Third-party providers
- Internet webshops
- Applications
- Teleshopping
What do the most appropriate distribution channels for your products look like? What will you need to consider? You will need to create the capacity to build and maintain your ideal sales channels. A professional sales organization cannot be set up just casually. Online and offline channels can be really time-consuming. Therefore, you should take advice from an industry expert.
For example, endoscopes are not only used for minimally invasive surgery in humans, but also in veterinary medicine and in industry for the exploration of of small cavities. Please note that the new market and the new customer group might be very different from your already existing market and customers. You need to think about an appropriate strategy, logistics, marketing, advertising and sales channels for your new market…. Click here for advice and help.
There are a number of pitfalls associated with introducing a new product into a new market which must be avoided. Frequently, manufacturers of product innovations are start-up companies with limited resources and capacity. Thus, it is often believed, that a strong product find its successful way to the market by itself. This is a fallacy. The market and the interested parties need to be informed and prepared. The demand for the product needs to be established, so that prospective buyers become and remain long term customers. Click here, to learn how to achieve this.
- Transfering experiences directly to foreign markets
- Underestimated bureaucracy
- Different legal requirements in different countries
- Insufficient financial resources
- Lack of knowledge about the new market / the new target group
- Lack of capacity
- Lack of or incomplete business plan
- Lack of, incomplete or inaccurate strategies
- Communication and measures do not suit the new target group / the new market
- Acting on assumptions instead of facts
- Potential market barriers have not been sufficiently investigated
- Lack of suitable business partners
- Just hoping for the best
- Lack of tenacity
- Operational blindness
- Overestimating your capabilities
- Lack of alternative plans
This above list only contains examples and should not be considered complete.
It is a fact, that those who cleverly develop a new market place and quickly occupy and dominate this market, achieve the maximum profit. I would be happy to advise you and assist you in your market development, so that you can target and successfully conquer it without risks. Please click here.