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Crushing the Competition

Crushing the Competition

IOMED, a medical products manufacturer, had lost considerable market share to a competitor over a period of years. They were in the early stages of developing a new hybrid Iontophoretic drug delivery product. They needed direction validation upfront and as they proceeded along the development path. The expectation was to revitalize the company and win back market share. They were determined to get it right the first time. As an engineering heavy company, their “marketing and sales department” consisted of one person. In addition, they did not have the in-house experience needed for industrial design.

iomed
  • Approach

    IOMED decided to partner with an industrial design company specializing in medical products and ICG to work as a team. The goal was to develop the best possible product at the optimal price point that far surpassed the competitive products’ ability to meet customer needs. In order to design and market this product, ICG developed, executed and analyzed market research feedback. ICG conducted survey research at a national tradeshow, performed one-on-one interviews with physicians and moderated focus groups to explore, qualify and solidify the product design. The market results were examined and evaluated to use throughout the entire development and launch process.

  • Result

    From the market feedback, ICG was able to not only recommend the design and marketing direction; ICG also found an untapped market that would increase sales dramatically. Through the boosted success IOMED experienced with the launch of its new product, they were approached by their top competitor, Empi, to purchase the company in order to keep control of the Iontophoretic industry. The ‘Hybresis’ is now sold internationally and can be found in most Physical Therapy clinics.

    For more information on the ‘Hybresis’, visit www.hybresis.com.