Case Study
Examining a Bittersweet Medical Sales Strategy
Strategic Expansion: Unveiling Key Milestones in the U.S. Market Penetration
The company’s journey in the US market has been one of calculated steps, steadily building a foundation for growth.
From strategically using expatriates to establishing a dedicated sales subsidiary, each move has been a deliberate expansion of their reach.
Despite referencing with hospital purchasing groups, the company is currently in a “hunting license” phase, requiring active hunting to fully exploit these opportunities.
The company has steadily consolidated its presence in the US market, currently covering 30 to 40% of the country.
Through an evolutionary process, the company has gradually consolidated its presence in the US market. The use of expatriates, the creation of a sales subsidiary, hospital sales and referencing with major hospital purchasing groups have been key stages in this expansion. However, despite their referencing with these central purchasing bodies, they are in a “hunting license” phase, having to hunt actively to exploit these opportunities to the full.
Nevertheless, challenges remain, not least the high cost associated with commercial hunting, in excess of $90,000 per sales person per state, not including additional fees. Growth remains incremental, currently covering 30-40% of the US territory. Turnover and the difficulty of attracting and retaining the best sales people are also obstacles.