Over the years, organizations across the medical landscape have started relying on analytics tools to deal with real-world marketing problems. With the increasing focus on customer preference, organizations have started leveraging the use of marketing analytics to meet customer expectations. In the medical landscape, marketing analytics helps marketers measure, manage, and analyze marketing performance, in turn, maximizing its effectiveness and optimizing ROI. Apart from analyzing marketing performance, marketing analytics offers strategic insights into customer preferences; thereby, helping in making better-informed business decisions. Leading manufacturers in the pharmaceutical industry can effectively devise the use of marketing analytics to predict outcomes and further segment the resources. Moreover, marketing analytics can help measure important business metrics in terms of market attribution and market effectiveness.
Quantzig’s market analytics solution helps the client efficiently gather data across all marketing channels and create a one-stop-shop to gauge information and drive marketing efforts. In addition, Quantzig’s marketing analytics also assists the client to identify the prevailing technologies in the market and allocate resources in the long run across the right channel.
As the medical device landscape is competitive with the presence of numerous competitors, a leading ECG device manufacturer was facing challenges targeting potential customers and optimizing customer reach. The ECG device manufacturer wanted to devise an effective market analytics study to penetrate across different market segments and enhance their offerings. The medical device manufacturer was also battling challenges such as pricing pressures, revenue stagnation, and intense competition – and wanted to devise robust business models to stay relevant in the medical device landscape.
Furthermore, the ECG device manufacturer wanted to focus on clinical outcomes, demonstrate value for products, and reduce ongoing support costs.
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Market Analytics Study Solution Benefits
Our extensive research from multiple sources helped the client gain a complete understanding of customers across channels and predicted customer and market behavior. The client was also able to engage customers in real-time, understand them and predict trends in customer behaviour. They also identified the features the customers were looking for and tailored the solutions.
Market Analytics Study Predictive Insights:
- Identify market trends and metrics to measure marketing success
- Understand price and promotion analytics to optimize the businesses
- Measure, manage, and analyze marketing performance and optimize return on investment
- Understand regression and evaluate and optimize marketing campaigns
- Predict outcomes and systematically allocate resources
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