Infiniti’s Competitor Analysis Solution to Uncover Unmet Market Opportunities for a Medical Device Manufacturer | Read the Complete Success Story to Know How

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Engagement Overview:

The client is a leading player in the US medical device industry. The rising number of medical devices manufacturing companies have drastically increased the level of competition in the market, making sustainability a key challenge for companies. Thus, the client wanted to devise a competitor analysis framework to develop robust marketing strategies that would help them gain a competitive advantage over other market players. Additionally, the medical device manufacturer wanted to profile major competitors in the industry and understand their current marketing initiatives to make the required changes in their business plan.

Other key objectives of the engagement were:

Objective 1: Assess the performance and capabilities of their competitors to make better business decisions

Objective 2: Adapt to a fast-evolving marketplace by efficiently catering to the needs of the growing population

Objective 3: Identify long-term savings opportunities and areas for cost reduction to facilitate product design and development

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Our Approach:

The initial phase of the competitor analysis solution involved conducting extensive researches to gain an understanding of the key competitors of the client. The second phase involved categorizing the key competitors of the client based on competition. The next phase included analyzing common marketing patterns and the competitors’ strengths and weaknesses. This helped the medical devices firm to differentiate themselves by offering products and services to fill gaps that their competitors have not addressed. By leveraging market information and data obtained from competitors, a competitor analysis framework was also devised.

Business impact of the competitor analysis solution for the medical device market client

By partnering with Infiniti Research, the client was able to dynamically fine-tuned their marketing efforts to gain a competitive advantage over their competitors.

By leveraging Infiniti’s competitor analysis solution, the medical device manufacturer was also able to:

• Analyze competitors in terms of market penetration and product developments
• Gain a better understanding of the current market space and build new business strategies
• Identify profitable markets and offer a differentiated set of products
• Fill gaps that their competitors have not addressed
• Understand competitors' future strategies and plans

For an in-depth market analysis on how COVID-19 will impact the medical devices market and data-driven insights to plan your next moves, request more info here.

About Infiniti Research

Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us