Strategic Impact In Life Science Markets

strategic impact in life science markets

A Close Look at Measuring Performance

Throughout various studies, one of the many questions lingering in the minds of various clients is “How are we doing?”

Looking at the example below, it may appear that the competitor has the upper hand, as they have higher scores in five of the eight attributes listed. One of these attributes, price, is typically the area of highest importance to customers, so immediately this data could sow some seeds of doubt – how do we make progress in areas where we are weaker without it impacting the overall price, which is already viewed as less advantageous than our competitor? What do we address? Where do we begin?

It is important to know how impactful each of these attributes are. By simply asking your customers to rate the IMPORTANCE of each attribute on the same scale, the picture becomes clearer.

In the above chart, the most important attributes will appear toward the top of the chart, and higher scores in satisfaction will appear toward the right. If you are performing well in an area that is of highest importance to your customers, the icons will appear in the upper right hand quadrant.

From this chart, we can identify that the company is performing better than their competitor in three of the four most important areas to customers. So, whereas before there was a lot of doubt about how far behind the competitor they may be, the client is now empowered with good news and potential key areas to focus future efforts (i.e. wireless connectivity).

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

More To Explore

Uncategorized

The impact of COVID-19 on the diagnostics field: Laboratory Test Volumes, Challenges and Potential Services to Improve Workflow

Introduction Laboratory testing has a central position in providing insight and direction on the evolution of the COVID-19 pandemic. Laboratories are requested to increase testing volumes and cope with changes in demand and workflows. This may lead to changes in laboratory needs and engagement models.  Therefore, SUAZIO Consulting took a closer look and interviewed a

covidcase-impact-surgical-procedure
Uncategorized

Impact of COVID-19 on Surgical Procedure Volumes: An Outlook for 2020

Introduction Major medical device manufacturers indicated their procedure volumes decreased by -80% during Q1 of 2020. In their Q1 earnings reports, they highlighted the cancellation or rescheduling of mainly elective procedures. These manufacturers commented on the potential short-term uptake of procedures and a restoration to normal volumes in Q3/Q4. However, all forecasts were uncertain, and

Work with us?

drop us a line and keep in touch