Market research is crucial to the success of any medical device manufacturer or distributor, but it can be time-consuming, and relying on the wrong information can have devastating impacts to your business. In this article, we sit down with one of myCaribou’s Research Analysts for an inside look at his team’s successful approach to market research.
Announcing the official launch of myCaribou channel optimization platform! myCaribou helps medical device manufacturers and distributors navigate global markets with ease, collaborate more effectively with channel partners, and accelerate growth in markets around the world.
Nicolas de Ricou, head of Italy, Central Europe, Russia, and Eurasia at Echosens, has made insightful observations on partner capabilities and balancing short-term demands. We share his thoughts and how they inspired the myCaribou platform.
Relationships between manufacturers and distributors always start with great expectations, hope and enthusiasm. But far too often, they end in failure. How can you ensure that the investment in your partnerships pays off?
Business reviews only bring medical device manufacturers and distributors together semi-regularly. Between these meetings, communication is often inconsistent. But effective collaboration is all about communication and information-sharing. What if there was a platform where both manufacturer and distributor could access all the information they need at any given time and on their time?
myCaribou Co-Founder, Scott Newton has assessed several manufacturer channel strategies that weren’t meeting expectations. The reason? The relationship evolved to one of transaction, not collaboration. How do you know if your partnership is simply transactional and not truly collaborative? Here are three symptoms to watch for.
The relationship between channel partners is one of the most critical components of a successful medical device market strategy. Choose wisely, and the benefits are win-win. Choose wrongly, and your launch will most likely end in a costly split.
For those medical device manufacturers looking to enter into new markets, it’s more important than ever to make sure that the market analysis you have is comprehensive and complete. Putting the time in now pays off mightily when you have a channel strategy that reflects real-world market needs.