Europe-wide market analysis for a manufacturer of medical devices

Requirements

A manufacturer of medical products and medical devices wants to expand its business activities. Until now, the company's products are only sold in Germany, Austria and Switzerland. It is now to identify the most attractive target markets for the company in Europe and to determine the market potential in a total of 16 countries. At the same time, possible market entry strategies should also be developed and evaluated in addition to sheer market analysis. As a foundation for this, an overview of the individual European countries regarding their attractiveness for market entry is requested. In addition to the pure data research, the company also would like a recommendation for action regarding a market entry for the respective country. Furthermore, potentially attractive market partners are to be identified in the course of secondary research.

DTO Research approach and procedure

After assigning DTO Research, the project objectives and the research design were elaborated in a workshop with the customer. The project manager on the customer side was from their in-house marketing division. At the beginning of the data collection phase, secondary research identified the data available on the market for all respective countries and thus provided the foundation for fields research. This subsequent analysis obtained additional data and high-quality information that could not be generated through secondary research. DTO Research chose the method of expert phone interviews for this stage. In order to reach the appropriate interlocutors, associations, potential trading partners, potential customers, competitors and other experts were contacted and interviewed. After the execution of the interviews, DTO evaluated the data of the secondary and the fields research.

Results

The data acquired in the process provided an essential foundation for the customer's further orientation. The company received a knowledgeable overview of the 16 potential target markets as well as recommendations and guidance in regards to market entry and an affiliated strategy. Besides financial and competitive matters, intercultural and logistical aspects also played a central role.