What we do

 

Product Substitution

What was the issue?

One of the oldest haemostats in the market had been the company’s cash cow for many years. New management decided that the product needed to be innovated. The next generation haemostat was launched, but considering that the product had many added features, the product reaction and sales were lukewarm.

Company wanted to know if taking the old product from their portfolio would help to increase sales of the new product or whether they would loose their faithful customer base.

How did we do it?

Surgeons from different specialties who were customers were invited to test and compare both products in a wet lab exercise.

What was the result?

Most surgeons preferred the handling properties of the old product and could not see the price increase of 10% justified with the new added properties as most of those properties (such as anti-microbial agents) were not MUST HAVE properties.

Company decided to keep the old product and undertake a positioning study for the new product with the future outlook of displacing the older product totally.

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