How a multi-discipline manufacturer completely reinvented their strategic plan after using LMA services.

LMA

How a multi-discipline manufacturer completely reinvented their strategic plan after using LMA services.

Overview

The manufacturer of innovative technology in neurology and OEM products needed a complete strategic reorganization.

LMA was deployed with particular attention given to the following critical items:

Company vision
Long-term viability of operating two non-synergistic divisions.
Analysis of the distribution channel.
Analysis of product portfolio and pipeline.
Marketing approach.
Product manufacturing.

Approach

Although company’s products were always praised on the market for their innovation, product sales never met expectations. LMA is specially designed to help manufacturers evaluate their global strategic plan by analyzing every department of the company.

LMA helped realign the company vision to include new product development. At the same time a new adaptive partnership was made in both divisions to ensure maximum exposure of the brand. The channel of distribution was remodeled to include untapped market segments that were not approached earlier. The company adjusted their marketing plan to reflect more direct contact with their customers and better understanding their needs. A detailed marketing campaign was launched with tailored messages to the different market segments.

Finally, LOK Corporation helped with moving the manufacturing of the product from China to Mexico by assisting in the establishment of a direct relationship with a contract manufacturer that assured the company not only better quality of the products but improved research and development as well.

Results

The company saw the results of the marketing adjustments in the following quarter of implementation with the number of leads tripling what had been seen in prior quarters. That success was easy to measure because of specific KPI’s that were selected to monitor progress. The company continued to execute the revised marketing plan and saw improved lead generation for two quarters in a row. The company was able, with the help of LOK Corporations’s network to close 3 new partnerships that brought the exposure of the brand levels never seen before. These partnerships represent major revenue generators and enable the company to look towards a greater range of future product offerings. With the help of the Mexican contract manufacturer, the company is in a position now to respond quicker to product development needs of the market.

The new sales approach was implemented quickly, and the better understanding of their customers' needs made the company establish a new inside sales support department. By understanding their customer needs and being able to respond to them rapidly, the company experienced a level of sales that was never reached before in both divisions.

Conclusion

LMA is designed not only to raise specific questions but also to provide logical and pragmatic solutions that will bring a company onto a path of success.

LOK Corporation continues today to advise the company and provide useful solutions to the team in place.

If you prefer to get feedback from the manufacturer on how our approach was beneficial to them, we would be happy to introduce and organize this discussion for you.

After working with several advisors, I can assure any Medtech Company that LOK Corporation International expertise is above any expectation that a Company might have. They are professional and always helping in the interest of their customers first. I highly recommend any Medtech Company to use their walkthrough service; it is a must!

Hassan Kotob
CEO Brain Scientific