Commercial Projects
Sales and Marketing strategy building, goal and objective creation, and commercial alignment can make or break your business. Our experience in unifying customer-facing teams is next to none; combined with our problem-solving skills, transparent communication, and focus on the customer, we can help your commercial team drive better financial results and customer metrics.
New Product Development - X-Ray
Challenge
A $30M business unit was under pressure from a technological shift from analog x-ray to digital radiography. In the intra-oral x-ray accessory product category, it was imperative to transition the product line that was 80% analog to a more digital-focused portfolio. The bottom line financial results of the analog-based business were stellar and any new product development needed to maintain or grow the operating margin to ensure optimization of margin and not dilution.
Solution Plan
A long-term plan was set to launch 4-6 digital radiography accessories per year over a multi-year plan. The plan included financial modeling of the decline of the analog portfolio, the anticipated growth of digital x-ray, the changes in manufacturing required for the new portfolio, and the capital expenditures that would be needed over the life of the plan. Marketing and R&D were tasked with creating the product pipeline with assistance from a cross-functional internal team including operations, finance, supply chain, and sales.
Results
30 products and five new brands were launched over a seven year period that grew the operating margin by 500bp. Two of those five new brands with patented designs became the market leader in their respective categories. The total effect of the new digital pipeline moved the portfolio to >80% digital during the same time period.
Market Research for Geographic Expansion
Challenge
European market leader of dental equipment identifies the US as a potential geographic expansion opportunity but requires market research to confirm feasibility prior to project initiation.
Solution Plan
By working with the R&D and Commercial Team in Europe, a market research study was developed. Two outcomes of the survey are to confirm the size of the US market potential and to confirm if the proposed ideation is acceptable to the US customer base.
Results
A written survey was created, executed, and tabulated to understand the needs of the customers as related to the proposed new equipment idea. Market size data was gathered through interviews and use of a national revenue database. As well, observational research was conducted in all regions of the US to watch and record current product use. From these data points, it was concluded that the estimated size of the opportunity in the US was correct. However, the survey and observational data concluded that the proposed product idea should be revised slightly to ensure US customer needs are met and the geographic expansion would be financially and commercially successful.