Demonstrating Demand and Establishing a Pricing Strategy That Increased ROI
Proving Market Value
Demonstrating Demand and Establishing a Pricing Strategy that Increased ROI
A medical device company unveiled a new polishing technology that leaves surgical blades dramatically smoother and sharper than standard scalpels. As a result, when the blades were used, patients experience less scarring, faster healing, and fewer complications. The company needed a commercialization partner to help them bring the product to market.
Key Services Delivered
HOW WE DID IT
The blade polishing technology was revolutionary, but it was also new. The company knew that the product demonstrated improved outcomes, but they needed to evaluate their value proposition to establish demand. T
The company also needed to validate the price. The competitive landscape was crowded, and because of the higher costs associated with the cutting-edge tech, the company needed to understand what price the market would bear.
The Jaunt Approach
Jaunt developed a comprehensive competitive landscape analysis with a list of competing products, including pricing and value proposition statements. With this data, the company got a full picture of how other companies were winning customers, including what current customers were willing to pay for – and what they were not.
Next, we tested the proposed value proposition for the new technology. This included primary research that uncovered customer and provider behavior, preferences, and what they were willing to pay for the tech.
An Unexpected Outcome
The new technology required the company price their service well-above what was already in the market. There was a concern that this was a hurdle the company may not be able to clear.
After reviewing the value proposition with plastic surgeons, we found that, rather than an extra expense, providers saw the product as a valuable differentiator in what was their own competitive field.
Results, ROI and Future Plans
Jaunt was able to show the company that their technology would be welcomed into the market. In fact, providers were so enthusiastic that the company was actually able to raise their price higher than anticipated.
Jaunt helped the company tell its story when some were skeptical about their ability to charge a higher price. Our work demonstrated that the company brought unique worth that boosted its value and standing in the marketplace.
“The intersection of market knowledge, product requirements and business model strategy that Jaunt brought to our team has been invaluable.”
– CURRENT JAUNT CLIENT