Re-think your target market!
Market selection, is the foundation of all commercialization and marketing based decisions. Targeting is important because commercial success strongly depends on the company’s knowledge and understanding of the group(s) of customers who share similar needs and buying behaviors and which segments are more likely to adopt the innovation. Don't ever assume that the fact that you have a superior Innovation will ever ensure adoption. And Innovation adoption is the key!
For example, who has an unmet need or job to be done? The answer can help you hone in on the right markets and segments. Health Care innovators who fail to produce a positive post-purchase attitude among early adopters are those who fail to target a specific market segment. Audience segmentation is particularly critical for health innovators where multi-side markets are common, business models are often B2B2C, and buyers are often different from the users with distinct needs to make a purchasing decision.
Many innovators wrestle with identifying all the various players and figuring out the right business model. But we strongly believe that Health Care and Medical technologies can ensure that their launch becomes successful by targeting Early Adopters.