- Sectors: Healing
Diagnostic Imaging Systems Market Approach
The client is a leading medical device firm looking to accelerate market share growth in diagnostic X ray Equipment and consumables segment in Myanmar.scroll down
The client was already present in Myanmar through a distributor and had seen significant demand in the early years. However, the distributor also had a competing brand in its portfolio as a result of which our client's top line growth had been leveling out. The client wanted to understand the options it has in terms of establishing its own presence in Myanmar or replacing the distributor or adding a second distributor with different customer targets to help accelerate its market share growth.
Solidiance has placed a team of 2 Burmese consultants, 1 Manager and I Partner on this project. The team conducted in-depth interviews with multiple stakeholders comprising the Ministry of Health, Department of Atomic Energy (under the Radiation Protection Department), local doctors, radiologists, lab technicians to understand the channel and customer decision making process and criteria as well as key competitor strengths and gaps to identify low hanging fruits for our client as well as develop a long-term strategy for capturing demand in Myanmar.
Solidiance evaluated the public and private hospitals, laboratory and diagnostic chains landscape in Myanmar as potential customer targets for the client. A detailed analysis on their decision making criteria, key influencers, and procurement process when it comes to purchasing X-ray equipment, the perception of competing brands, key requirements, success factors and gaps enabled us to generate an effective channel and customer target strategy for the client. Given the competitors were gaining higher brand awareness, we recommended it was the ideal time for the client to establish their own presence through various feasible options in Myanmar.
Based on our study, the client was able to better understand and narrow its target customers based on volume and orders share as part of an effective customer engagement strategy including identifying the key influencers, incentives, and marketing approach in addition to adopting the recommendation to establish their own presence in Myanmar to further expand its outreach efforts.