Creating a new business concept and brand to extend to a new medical therapy area
Creating a new business concept and brand to extend to a new medical therapy areaEquiBrand2023-10-20T11:26:31-07:00
Project Description
An operator of minimally-invasive medical centers wanted to expand into a new therapy area. The new therapy was procedurally similar to the existing offering, though was judged to be incompatible with the existing brand concept.
Strategy sessions and focused ideation were used to develop brand concepts, across positioning, portfolio, and naming options.
The concepts were iterated internally and with patients and physicians to inform the recommended new brand concept and name, including supporting rationale.
Challenge
Largest medical group in the country providing treatment for specific medical condition
Business model provides network physicians a suite of management support services and infrastructure
Looking to expand current specialty to minimally invasive outpatient procedures
Existing brand judged to be incompatible with future direction, requiring brand re-positioning (including new brand name, identity and communication plan)
Action
Market assessment, including brand equity research to understand current brand image
Strategic visioning to assess 1) brand architecture alternatives, including masterbrand vs. subbrands; and 2) cost/benefit of repositioning, including new brand name
Exploratory and concept optimization healthcare market research to optimize various brand architecture, positioning and naming alternative concepts
Final brand strategy and action plan for achieving new brand positioning
Result
Redefined business vision, mission and strategy, drawing on consulting study results
Repositioning of original concept, including new name, brand identity and communication plan (with stronger clinical brand associations)
Increased business growth, including both therapeutic and geographic expansion
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