Providing comprehensive market analysis for a leading medical firm in Myanmar.
Our client, a leading medical device firm, was looking to accelerate market share growth in diagnostic x-ray Equipment and consumables segment in Myanmar. The Client was already present in Myanmar through a distributor and had seen significant demand in the early years. However, the distributor also had a competing brand in its portfolio as a result of which our client’s top-line growth had been leveling out.
YCP Solidiance provided analysis and options for the client in terms of establishing its own presence in Myanmar or replacing the distributor or adding a second distributor with different customer targets to help accelerate its market share growth.
Our team evaluated the public and private hospitals, laboratory, and diagnostic chains landscape in Yangon as potential customer targets for the client. A detailed analysis of their decision making criteria, key influencers, and procurement process when it comes to purchasing X-ray equipment, key requirements, success factors, and gaps enabled us to generate an effective channel and customer target strategy for the client. Given the competitors were gaining higher brand awareness, we recommended it was the ideal time for the client to establish their own presence through various feasible options in Myanmar.
The client was able to better understand and narrow its target customers based on volume and orders share as part of an effective customer engagement strategy including identifying the key influencers, incentives, and marketing approach in addition to adopting the recommendation to establish their own presence in Myanmar to further expand its outreach efforts.