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Market Entry Strategy for a Healthcare Brand

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Market Entry Strategy for a Healthcare Brand Market Entry Strategy for a Healthcare Brand Market Entry Strategy for a Healthcare Brand

Market Entry Strategy for a Healthcare Brand

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The Context

  • The client is a fast-growing Asia-based healthcare brand
  • The client wished to tap into the Middle Eastern healthcare market as a part of their strategy to grow internationally
  • The client wanted insights before they launched their entry strategy for the Middle Eastern market to ensure it was aligned with the market opportunities
  • The client asked for our assistance to identify the right geographic markets, ideal retail channels to target, the right product mix to carry, as well as appropriate messaging for their Middle Eastern consumers

The Approach

Step 1

  • The Middle East has a vast and diverse market that requires a careful and thorough analysis to build a highly focused approach for an entry strategy
  • The first step in the process was to identify the right geographic locations in the GCC for the client to launch their products
  • This was done by comparing different regional markets based on the prevalence of the disease types the client’s products addressed
  • There was also a region-wise analysis of sales for related product categories and brands to supplement the initial findings
  • We also identified key channels and effective retail formats for their offerings

Step 2

  • The client had a vast product portfolio which would only meet specific needs of specific consumer segments in their home markets
  • The awareness and needs in the Middle East was vastly different from their initial consumer base and if the wrong products were launched it would result in slow moving inventory and low consumer acceptance into the market
  • We conducted extensive product sampling to test the product offerings and their packaging with the target audience to understand their response
  • There was an ethnographic study conducted after the product sampling stage to gather additional support to validate the findings of our research
  • We also took note of all the feedback received from buyers and category managers at leading retailers

Step 3

  • The client selected the regions they would launch their products in to gain maximum traction
  • The client was able to create a clear channel strategy that focused on specific retail segments and formats
  • The client was able to use the research to build a more streamlined product portfolio that was focused on increasing the awareness and acceptance by their Middle Eastern consumers
  • This step simplified the distribution process for the client and greatly reduced the chances of slow-moving inventory and customer disappointment
  • The client was also able to direct their messaging to focus on the benefits of the product that would provide the highest value to their consumers
  • This step helped the company establish a clear differentiation in the Middle Eastern market