Customer needs are the source of economic value. Product commercialization is the most expensive activity of the product development process. Successful launches not only have clear financial. Successful launches not only have clear financial benefits, but also support delivery of value to customers.
Three specific ways you can understand customer needs to reduce market risk. Presentation delivered at Society for Petroleum Engineers conference, May 2009.
Three specific ways you can understand customer needs to reduce market risk. Presentation delivered at Society for Petroleum Engineers conference, May 2009.
To build and maintain customer loyalty, your target market must first be familiar with you.
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Referring physicians constitute a unique source of information on how hospitals can grow their business. M.D. Anderson’s innovative “dashboard” feedback-and-response system gives new influence to these doctors, illuminates a path to increased physician satisfaction, and suggests that to get better, it pays to get smarter.
In a highly competitive marketplace, managing the non-price purchase and satisfaction drivers that matter most to customers can positively impact market share. Customers make purchase decisions based on how valuable they perceive the quality of your products and services as they relate to price. Those companies that are perceived to offer “low” value are highly unlikely to attract new customers or retain the customer base they currently have. This is due to the fact that customers will migrate to companies who offer a better or “higher” value.
When implementing change, there are significant risks that can cost millions in potential disruption. Learn how to assess the three risk categories and develop strategies to mitigate risk by downloading our whitepaper: Integrated Risk Analysis.
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Many studies have shown that overly-long questionnaires adversely affect response rates and data quality declines. Respondents simply abandon the survey or provide shorter answers just to get to the end. In this white paper, you’ll discover that survey fatigue ISN’T driven by the number of questions asked.
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ISM: Power Up! Become a Strategic Influence with Your Company’s Indirect Proc...Mike Inman
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To build and maintain customer loyalty, your target market must first be familiar with you.
Brand familiarity is important in obtaining customer loyalty, generating brand trust and driving price structure. This paper discusses customer familiarity with the energy industry, and how you can increase familiarity to build and maintain a high brand equity score.
Referring physicians constitute a unique source of information on how hospitals can grow their business. M.D. Anderson’s innovative “dashboard” feedback-and-response system gives new influence to these doctors, illuminates a path to increased physician satisfaction, and suggests that to get better, it pays to get smarter.
In a highly competitive marketplace, managing the non-price purchase and satisfaction drivers that matter most to customers can positively impact market share. Customers make purchase decisions based on how valuable they perceive the quality of your products and services as they relate to price. Those companies that are perceived to offer “low” value are highly unlikely to attract new customers or retain the customer base they currently have. This is due to the fact that customers will migrate to companies who offer a better or “higher” value.
When implementing change, there are significant risks that can cost millions in potential disruption. Learn how to assess the three risk categories and develop strategies to mitigate risk by downloading our whitepaper: Integrated Risk Analysis.
There are many missed opportunities for revenue retention in today’s healthcare call centers. Would you like to increase your captured revenue. We highlight a $25M case study.
Many studies have shown that overly-long questionnaires adversely affect response rates and data quality declines. Respondents simply abandon the survey or provide shorter answers just to get to the end. In this white paper, you’ll discover that survey fatigue ISN’T driven by the number of questions asked.
This presentation is one of three created for a professional development workshop designed for medical school faculty. Creating the workshop project was an assignment for a graduate level course in library sciences. (I got an A!) Please ask permission for re-use.
ISM: Power Up! Become a Strategic Influence with Your Company’s Indirect Proc...Mike Inman
Presentation by Mike Inman and Rich Vales given at ISM 2011 conference in Orlando, Power Up! Become a Strategic Influence with Your Company’s Indirect Procurement Spend
In order to craft your value proposition, you need to make certain assumptions about your target market. It is important to validate these assumptions through market research techniques and analysis.
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The case company is a very successful oil company, currently more profitable than ever.The recently appointed CEO recognized that the situation is probably not sustainable, as there are some changing trends in the market place that may be a threat to the current favorable position. He had another concern, too; the company was one of the most advanced in technology in its field in the world.The CEO soon realized that the company – because of its favorable market situation – was not cultivating this asset efficiently enough. He noticed that the growth rate was not satisfactory.The CEO made a decision to scan for new growth opportunities and apply the Signals toolset, because it minimized the time and resources needed.
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Idea management is an important part of management in the 21st. century. Watch this presentation to see how you can enhance your competitveness by implementing idea managment and how Ideas2benefit software can support your business.
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It's like a dating site to match physicians and consumers.
In this presentation, our approach to patient volume modeling is reviewed. This model is used for marketing and operations strategic decision making.
As hospitals and healthcare systems are trying to increase commercial revenue (non-government funded) to sustainable profitability, many are unable to address this problem strategically due to data dispersion and the analytical model required to establish cause and effect relationships. Endeavor Analytics’ digital tool assembles, models and predicts the impact of market changes, marketing and operational activities on all-payer patient volumes.
In this white paper, we review the critical success factors for maintaining a highly successful contact center, ensuring each interaction enchants callers to schedule appointments, participate in fund raising events and refer patients.
Avoid PRM failures by avoiding ensuring it's not simply a repository for documenting simple tasks. PRM failures occur when the IT solutions only serves to document activities instead of serving to streamline the physician experience.
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This presentation highlights things every healthcare marketer should know about how to measure healthcare marketing ROI, how to design a healthcare marketing dashboard the right way, and what’s possible in today’s digital age.
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Client's experiences with behavioral health services are shaped by all of their interactions with us, across the continuum of care. While we can assume what our clients want, need and experience in receiving services from us, it is valuable to use their direct feedback to understand their functional (what we do) and emotional (how we do it) needs throughout their experience. In this webinar conducted with Sovereign Health, we discuss the foundations of customer experience management, provide examples of tools and resources that you can use to understand client's experiences and address opportunities for improvement, and discuss a variety of implications in behavioral health settings.
How do you operationalize a culture and strengthen employee trust? Gelb's experience mapping frameworks can be used to effectively examine the holistic employee experience and create advocates out of your teams!
Ever had this nagging feeling you just weren't sure why a physician referred his or her patients to a competitor over you? You have the advanced technology, latest clinical trials, and maybe even a top-notch team of liaisons. Outside of insurance, there are many other functional and emotional factors affecting physician referral behaviors. Most of these can be indicated by leakage reports, but these don't explain the WHY behind them.
In this presentation, given with St. Jude Children's Research Hospital, we explore the combined use of experience map and decision factors research to get at the heart of the issue...which ultimately drives clinical volume.
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We had the privilege of leading this workshop recently along with SG2 and Roswell Park during the Annual PAMN Conference. This presentation outlines the importance and application of segments and templates you can use to accelerate your customer insight development. Personas are used to inform strategic decisions by putting the customer in the room. Learn how this technique can be used for your initiatives related to brand/marketing management, customer experience, and product/service innovation.
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This white paper discusses physicians’ medical training and its relationship to effective leadership qualities, and demonstrates how the soft skills associated with emotional intelligence are essential in guiding physicians in the practice of leadership.
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Traditionally development of digital tools was solely an IT initiative, but today it is a customer-needs driven initiative. Digital experiences are often times the first impression that potential customers have of you, and the first tools they turn to when they have questions or needs throughout their journey.
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Hiring an experienced, trusted advisor can be the difference between success and failure. That’s why the members of our Healthcare Expert Advisory Group have been there, done that.
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Physicians are rapidly adopting social media tools such as Twitter and LinkedIn as part of their approach to keeping up to date with the latest developments in healthcare. As the use of these digital tools becomes increasingly commonplace and mobile apps gain acceptance for supporting healthcare interactions, the physician liaison team can leverage digital tools and social media to improve the efficiency and effectiveness of the delivery of information. Digital tools can serve as a pathway to providing easier and more direct access to information and tools that help to strengthen relationships with referring doctors and their practice staff.
In this paper, we present a best practices from around the country in using digital tools to connect with referring physicians. When used appropriately, digital tools can configured and applied to improve relationships, grow referral volumes, and increase the efficiency and effectiveness of your physician liaisons.
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This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
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2. Overview
• Customer needs are the source of economic value
• Product commercialization is the most expensive activity
of the product development process
• Successful launches not only have clear financial
benefits, but also support delivery of value to customers
• To minimize risk, there are three necessary steps:
– Define strategic intent
– Eli it market f db k
Elicit k t feedback
– Assess market potential
4. Questions to Answer
• What needs does it satisfy?
• How will it be created…and delivered?
• Who do we expect will be willing buyers/users/recommenders?
• What is our strategic intent in delivering this product/service?
– Maximize early revenues for early exit
– Maximize profits for investment into other new technologies
– Maximize market share to establish market familiarity
– Grow revenues gradually to focus on service delivery
– Improve internal efficiencies
• What is this offer’s importance to the overall business strategy?
– Product defines the company
– Product is a significant new offering
– Offer enhancement (e.g., Total Cost of Ownership)
(e g
– Reduces internal costs
5. Market Information is Critical
• 80% of the new product successes g
p gathered and used
more market information
• 75% of the failures knew less than average about the
market at project inception and gathered/used less
market information during the product development
process.
-Ottum and Moore, Journal of Product Innovation Management
Moore
7. In‐depth Interviews
Good Better Best
Telephone with online
How Telephone
presentation
On-site
Conducted by company
y y Conducted by objective
y j Objective third party
j y
Interviewer representative third party alone AND technical lead
Multiple individuals
p
Individual with decision Multiple individuals with
including technical
Audience influence influence and authority
champions
Areas currently served Areas currently served and
Areas with the greatest
Scope (i.e., people you know) areas of interest to the technical need
company
Greater Insight
8. Discussion Areas
• Technical needs in the area of interest
• Needs they perceive the offer to satisfy
• Perceived strengths and weakness of the offer
g
• Role/importance of your offer in their workflow
• Key buying factors for purchasing similar products/services
• Competitors who are currently satisfying similar needs
• Perceived strengths and weaknesses of competitors
• Willingness to change to new methods (e.g., barriers)
• Recommendations for launch (I.e., critical success factors)
9. New technology decisions require approval at
the business unit or corporate level
the business unit or corporate level
Which of the following statements best describes how technology is brought into your company and used?
All decisions about tools and processes are
made at a corporate level. 16%
The company corporate level gives Management
guidance about tools and p
g processes but involvement
25%
the final decision is made at a business unit and approval needed
level.
The company gives guidance about tools
and processes but the final decision is 30%
made at an asset level.
The decision about tools and processes is
made at the asset level without guidance 19%
from above.
Decisions pushed down
Each individual can use the tools they think
11%
best to solve their day-to-day problems.
y yp
Source: 2008 Gulf Research: Accelerating
Adoption of New Technology
10. Implications
• In-depth interviews can provide meaningful qualitative input for
product/service design
• This insight also helps understand key buying factors
g p y y g
• However, it is necessary to assess the product’s appeal at various
levels/areas of the organization for product launch (and success)
• Therefore, a quantitative survey is needed to determine:
– Attractive
Att ti market segments
k t t
– Price sensitivity
– Utility of product attributes
– Competitive strengths (
C titi t th (e.g., b d)
brand)
12. Trade‐Offs
• Univariate techniques fail to recognize how users make decisions
• Choice-based Conjoint Analysis is the “gold standard” of marketing
research techniques for measuring:
q g
– Price sensitivity
– Elasticity of demand
– Tradeoffs buyers make between features and cost
• Trade-offs are important to avoid product launch mistakes such as:
– Over-engineering
– Under-pricing
– Targeting the wrong segments
– Failure to recognize competitors/alternatives
13. Simulating Purchase Decisions
If the solutions below were available today, which would you choose?
Click the option below.
Option 1 Option 2 Option 3 None
Price per image $5,000 $70,000 $20,000
Resistivity; Elastic
Absolute and Properties;
Relative Absolute and Resistivity;
Measurements provided Permeability; Relative Elastic
Capillary Permeability; Properties
None of These
Pressure Capillary
Options
Pressure
Turnaround time 24 hours 1 Week 48 hours
Houston-based
Location of imaging equipment In-country lab Rig site lab
lab
O O O O
15. Price Sensitivity Analysis
Segment 1
100%
Config 1 Config 2
80%
Config 3 Config 4
% Preference
60%
40%
20%
0%
$5 per ft $12 per ft $15 per ft $17 per ft $20 per ft
Segment 2
100%
Config 1 Config 2
80%
Config 3 Config 4
% Preference
60%
40%
20%
0%
$5 per ft $12 per ft $15 per ft $17 per ft $20 per ft
17. "The essence of
The
strategy is choosing
what not t do."
h t t to d "
Michael Porter
18. Actionable Research
• Use data resulting from market survey to guide
your team in making decisions to prioritize
market segments
• Review th strategic objectives, i t
R i the t t i bj ti integrate
t
guidance from the interviews, and examine
trade-offs from the market survey
• Simulations from your quantitative market
survey can guide decisions regarding:
– Pricingg
– Distribution
– Priority in the product portfolio
– Product feature optimization
– Positioning and targeted marketing
– Acquisitions/alliances