Objective
One of the top global manufacturers of intraocular lenses and cataract equipment sought to conduct a comprehensive pricing analysis of all major competitors’ brands in the market. The objectives encompassed competitive pricing analysis against leading competitor brands, evaluation of distributor buying prices, hospital/clinic purchasing prices, and cost to patients. Additionally, the analysis involved examining discounts and margin structures at the hospital/clinic level, exploring promotional and marketing strategies employed by key competitors, understanding the unique selling propositions (USP) of both competitors and their brands, and assessing co-payments/reimbursement scenarios
Approach
A comprehensive research program designed to gain an in-depth understanding of the pricing value chain of Intraocular Lenses (IOLs) and cataract equipment in the APAC region, along with assessing future implications. This involves identifying key competitors in specific countries across different product categories and developing a product comparison matrix against the client’s SKUs marketed in those countries. Detailed desk research is conducted using various paid and unpaid public databases to collect relevant data points, followed by an in-depth analysis to identify key market features. Conducted detailed interviews with specialists/ophthalmologists, distributors, former company representatives, and relevant procurement stakeholders to gather insights for pricing analysis dashboard
Outcomes
- Study output helps client to strategize their marketing efforts and gain competitive advantage. Price waterfall section details about cost to the distributor, distributor margin, facility margin, and final cost to patient and provided price comparison at product level for client vs. competing brands. Price index section details about price of competing brands with respect to the client brands’ price at patient level and facility level. The overall findings helps client in understanding of different types of pricing strategy used by the competitors and drives objective decision-making and aids in the development of promotional schemes for the future growth
- The outcome of the study provides tracking a performance of the brand on SKUs level in the region. Regional Pricing Analysis will help in getting a broader view of the company’s strategies on regional level and provides details on the different portfolios of the company and their strategic priorities for the regional market development
