innovation strategy

Segmentation [Technology, Market, etc.]

Innovations management is an important element of our strategy consulting approach. Segmentation is always the starting point for new developments, especially in the fast growing life science industrie. It may be useful to segment your customers, the markets or the relevant technology to clearly target your future actions. Segmentation criteria should be defined from case to case and they often vary.
Segmentation allows the market to be defined, gaps in the offering to be revealed and the needs of different target groups to be structured. It is vital that the segmentation repeated frequently since new developments [such as the internet] can completely change the way business is done.


Customer based development & evaluation of product concepts

To avoid misguided developments of new products, Novumed® Life Science consulting has developed a customer based approach: the Novuconcept®. This is a balanced combination of various research methods such as video observation, qualitative research panels or expert panels [focus groups].
Novuconcept® generates higher transparency of customer requirements through monitoring specific needs, and thus significantly simplifies the work of the technical developers.
Clients benefit by the large variety of results generated, including, for example structured customer needs and evaluated product concepts.

Click here to download Novuconcept brochure


Business plans [from concept to cash flow plan]

Product concepts will be challenged by market data, cost forecasts and financial figures in order to formulate a detailed business plan. Market assessments, technology audits and the results of innovation strategies will be reflected by Novumed Life Science Consulting when establishing the business plans. Several scenarios will be analyzed and risks assessed to set the basis for a well founded management decision.