Industry

Healthcare & Life Sciences
Medical Technologies

Company Profile

  • ~$35bn annual sales, multinational company
  • Broad product portfolio across healthcare and other industries

Situation and Objectives

  • Product has enjoyed steady financial and clinical success for many years as undisputed market leader
  • Product faces increasing competition as healthcare market becomes more cost-conscious
  • There is increasing pressure from GPOs and hospital networks for steeper price discounts

Approach

  • Prioritized the business division’s strategic objectives and initiatives for growth by aligning with internal stakeholders
  • Assessed potential to use price as a lever for increasing product growth
  • Improved key account negotiation tactics by evaluating previous win/loss deals and understanding current sales dynamics
  • Developed new value-based product story to target C-level stakeholders

Results

  • Determined price as the only lever was not enough to reach growth target
  • Identified key areas of strength and opportunity in current sales strategy
  • Designed new go-to-market strategy with C-level value story and targeted stakeholder groups

Impact

  • Refined go-to-market strategy put product back on track to exceed growth target by ~3%

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