Repositioning to reach a broader market

Mid-size medical device company 

Challenge: How does a medical device company reposition itself to reflect the broader market it has grown to serve, and ready itself for acquisition?

Methodology:

By collaborating with the company's leadership team, we:

• Conducted primary interviews with key stakeholders to define growth expectations and the company’s exit strategy.
• Reviewed current customer and performance data, brand positioning and the company’s current market strategies. Aligned customer needs and perceptions with company goals and with demonstrated market performance.
• Facilitated ideation and decision making sessions with company leaders to test and validate the drivers of the company’s success.  The going-forward operating model and market position were defined.
• Made decisions in these collaborative sessions to drive definition of a plan and execution of a new brand strategy.

Benefits realized:

Aveus helped bring business and brand strategies into alignment, and a new brand framework was implemented. Leaders repositioned the company to match customer expectations and the drivers carrying the business forward to acquisition - and away from a position the company had outgrown.

The company was able to meet or exceed its profit and growth targets, and was successfully acquired.

Do you cringe - just a bit - when you hear someone say, “you need to update your strategy”?

We’re former line executives ourselves, so we know those aren’t necessarily happy words. We believe actionable strategies are the only ones that count. Learn more about our approach to strategy challenges.