Launching products into the market and achieving high performance is crucial and challenging for medical device companies especially in the changing dynamics. Many players in the industry are facing challenges that increase the significance of delivering maximum value with each new product launch.
Every new product launch must have fast uptake curve to increase the overall sales, higher peak sales and be a low cost intensive.
Any shortcoming in the launch may if not addressed, threaten the company’s future success. Addressing and overcoming these launch weaknesses will be a key factor to become high-performance business.
• How does good or excellent product launch look like?
• Could an excellent launch in one country be an ordinary launch in another?
• What are our gaps and key risks, and how do we overcome them?
• What are the activities, timelines and milestones in six quarters from launch?
• Which key performance indicators will define and track launch success?
• What is the best process and tool to track launch progress?
• What are the potential and the best way to position my product vis-à-vis my competitors?
MRA Group can equip you with the expert guidance, Analysis, and required knowledge to help you to convert launches in great brands.
MRA Group offers a full range of services that help you evaluate, plan and launch brands and products. We provide research to help key decision making process from the early stages of idea generation through product launch and post-launch evaluation.
We analyze the key drivers of the category to evaluate the positioning of new initiatives and determine their strengths and weaknesses as they relate to the competition.
How We Help?
• Launch services for best-in-class preparation
1. Compare regional requirements across multiple countries
2. Ensure to meet regulatory requirements
• Developing the launch benchmarks
• Key performance indicators for consistent tracking of launch success
• Analogue analysis for historical excellent and worst launch
• Benchmarking Analysis: We allow our clients to compare their current product performance against their competitors and adopt improvements that equip their overall approach to continuous improvement in optimization of efforts. Benchmarking Analysis incorporates performance evaluation for product launch in various geographies to come up with excellent, average and laggard benchmarks.
• Cross-country Comparison Analysis: Our methodology integrates product comparison against their competitor in multiple geographies, which are having similar healthcare and regulatory system. This can be done for any identified therapy area or indication to appreciate the difference between benchmarks in one country to another.
• Product Comparison Analysis: A comparison of product with industry standard benchmarks can be done to identify the status of the product in launch phase
• Enable client to do better planning by knowing historical launch case studies with the help of analogue analysis
• Helpful for the sales team to identify the way physicians use the product
• Maximizes the uses of data assets and minimizing utilization of internal resources, enabling the launch team to focus on value added tasks and core work.