Hip Implant Product: Market Segmentation and Targeting Research Paper

Pages: 2 (593 words)  ·  Bibliography Sources: 3  ·  File: .docx  ·  Level: College Senior  ·  Topic: Health - Nursing

Hip Implant Product: Market Segmentation and Targeting

The ambition of marketing a competitive and innovative set of hip implant options can only be achieved through an effective identification of target markets and a cohesive understanding of segments within these markets. Based on the research provided in our product overview, we recognize that "with the hip implant being 20.3% of the aggregate market" where implant and joint replacement are concerned, there is a significant base for opportunity to new entrants such as ourselves. Because we are attempting to poach much of our own market share from such current players as Stryker and Zimmer, it is sensible to identify and seize upon the target demographics utilized to such success.

For both, the broader market is referred to as the global reconstructive market. In our case, as a company with decidedly more limited immediate resources, the focus will be trained to the domestic reconstructive market, particularly given the already identified dominance of the U.S. market in this area of medical innovation and implementation. Thus, the United States will function as an overarching demographic feature.

Beyond this defining feature, the market may be segmented into four primary target groups; surgeons, hospitals, healthcare dealers & stocking distributors. *for an overview of these targets, view Table a here below. Each of these markets carries its own characteristics and features, though some of these are likely to be overlapping given the inherently overlapping interests of all groups in the broader domestic healthcare industry.Download full Download Microsoft Word File
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TOPIC: Research Paper on Hip Implant Product: Market Segmentation and Targeting Assignment

Surgeons is a group that includes orthopedic surgeons, musculoskeletal surgeons and general surgeons who will participate in such implant procedures. This target may vary in its members, including surgeons who work in independent practices, surgeons who are part of broader healthcare systems such as hospitals and surgeons working in specialized… [END OF PREVIEW] . . . READ MORE

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