Product Life Cycle Management

Medical Device companies bear risk of losing sales after patent expiry. So in order to get maximum return on investment, it is important to extend product life cycle to generate continuous revenue.

To deal with this challenge, companies have to focus on Product Lifecycle Management approach to manage products revenue.

Key Questions:

•  What all strategies are there for product life cycle management? How many of them have proven success record?
•  What is the perception of KOLs about strategy change?
•  What would be the expected acceptance of new initiative for product life cycle management?
•  What are the recent product life cycle management developments in any particular indication?

MRA Group provides consultation on the operational issues associated with all the options. We leverage our deep technological expertise to help clients develop and optimize their marketing, lifecycle and competitive strategies.

How We Help?

•  For screening and deep drive analysis of identified strategies for all the geographies.
•  Feasibility survey of new concept and to generate reports with key insights.

Analysis Involved:

•  Product Life Cycle Management (PLCM): Our analysis involves in-depth evaluation and estimation of revenue model depending upon the phase of the product (launch, growth, mature and decline phase), key steps/actions to be implemented at different phases of the product stage.
•  Strategic Feasibility Analysis:This analysis involves testing of all the available strategies for Product Life Cycle Management and checks which all can work in the particular situation. This includes deep-dive analysis of methodologically proven strategies and backed by analogue studies and analysis
•  Market Introduction/Product Launch Analysis:Evaluation study on product and cost of competitor products in specific market, market demand analysis, market penetration strategy

Business Impact:

•  Bring analysis to client to manage effectively the change in product features such as labeling components, pricing structure, brand image and others
•  Identify and assess potential strategies and market scenarios to determine whether a switching strategy is likely to be commercially viable
•  Help client to accelerate commercialization of new strategy

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