Problems:
- A large Japanese client in electronics industry was planning to enter into the unfamiliar medical market with its core technology, requiring them to learn many new aspects including approval system and sales channel
- As medical market is much larger in the US/EU and approval system is less problematic, they were interested in entering into the US market first
yet2 Strategy and Role:
- yet2 proposed a multiple phase approach, starting with market research and moving to partner selection and interview setup with major hospitals in the US
- yet2 gathered US company information from the related business areas and set up meetings with them
- They also specified the desire to conduct interviews with medical doctors, nurses, and hospital administrators, in order to take initiatives in partnering negotiation
Conclusion:
- Product development negotiation is in progress with a selected partner in the USA