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Market penetration strategy for a medical laser systems client (Graphic: Business Wire)
Business challenge: A medical laser systems manufacturer based out of Norway faced challenges in managing on-time supply deliveries and accurately predicting warehouse needs while maintaining prescribed quality standards. By partnering with Infiniti Research, the company wanted to enhance its supply chain process, manage inventory shortages, and identify an ideal third-party provider to suit its reverse logistics needs.
Solution offered: Experts at Infiniti Research conducted a unique blend of rigorous secondary research and in-depth semi-structured interviews and discussion with market research experts in the medical laser systems market. They also conducted exhaustive secondary research from proprietary and open source information sources to develop insights and hypotheses specific to the target countries. Key performance indicators (KPIs) were identified to enable an understanding of the focus areas. All the obtained information was evaluated on the KPIs, to generate recommendations for the client to re-align its business strategies for competitive advantage.
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Results obtained: With Infiniti’s market penetration strategy engagement, the client was able to analyze factors such as industry development, investment environment, medical laser systems market size, and market opportunities. The client was also able to identify strategies to clear the product testing procedures faster and reduce time to market. Insights obtained from Infiniti’s market penetration strategy helped the client to formulate effective strategies for making smart decisions about inventory and production logistics levels. This subsequently reduced the risk of stock-outs, resulting in lower holding costs and increased turnover rates. The company was also able to comply with evolving regulations, efficiently forecast warehouse needs, identify a third-party reverse logistics provider, and eventually attain 37% market share within a year.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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