Organization
This Korean bio-medical company provides orthopedic implants for spine, hip and knee replacement entering into the Latin American market.
Problem
Innovative products with no value proposition for differentiation, making the product a simple commodity. Also, the products were priced above market and too many products you not yet fully developed. The focus was to address:
- Marketing Strategy
- Value Proposition
- Pricing Positioning
- Customer Engagement
Results
The new strategy for marketing and products yielded positive results. Customers started to understand the differences of the products, and why they were priced above the market. We reached new markets in Latin America, and increased sales in middle-east countries (something that was out of scope, but was a positive externality). The company results catch the attention of Chinese investors who now want to inject some capital to develop a new range of products and potentially start a new factory in China.
