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Stryker Hound System
Transcript of Stryker Hound System
IVS Marketing Associate
November 2012 What is the Hound? Surgical product- decreases Op time
Capital (Hound)- lasts 10 years ($38,000)
Disposable (Paw)- 4 used per procedure ($30)
Luxury product Hound Market Presence On market for 5 years
Last year: $50M (10% growth)
$30M capital (7%)
$20M disposable (11%)
2,000/7,000 Hospitals have a Hound How do we do it? Sales: $90 Million 80% growth Customer's Concern: "The Paw system of disposable parts is TOO EXPENSIVE." MAINTAIN CAPITAL SALES VOLUME,
DEVELOP A NEW PAW PRICING STRUCTURE TO DRIVE VOLUME Jimmy in Kansas City Top 50 Account
2 Hounds, $14/Paw
12 Cases/Day, 48 Paws
Our Price vs. Competitors IN 2010, WE HAD $50 MILLION IN SALES:
$20M in Disposable = 667k Paws 2,000 Hospitals have 1 Hound. 667,000 Paws/2,000 accounts ~84 procedures/account/year Keeping the "average account" at $30 Account Value=Paw Price x Proc. Vol. x 4 Paws/Proc. PERSONAL CONTACT Phone Calls
Voice of Customer videos Surgeons
Purchasing dept. The Competition Profile Where does $14 come from?
Existing competing product?
The Hound Ultra Beyond the Numbers... The tiered pricing structure addresses Jimmy's request and shows that Stryker values the account.
This is an example of the marketing dept. listening to the sales rep. and working to develop solutions.
Considering this price shows a willingness to work with a hospital, further developing Stryker corporate relationships.
Is it worth developing? Ask existing clients of pain points
Room for improvement faster, simpler, easier, more efficient
Make the device "essential", not "luxury"
Patient costs are covered by insurance Recommendation: Increase accounts, allow for larger customer base. If I had three questions, I'd ask for more questions... 1. What is the average OR days/year and surgeries/day? 2. What are remaining regulatory hurdles to cross worldwide? i.e. Can we consider the CE Mark? 3. What is the cost to the hospitals of the competing products? Thank You! Questions? TARGET WE NEED TO IMPROVE HOUND UTILIZATION!!! Monday's Surgery Distribution (Hancock, Purdue University) Price is based on a firm purchase order. Utilization Growth Competition Gross Sales= AVG proc. x 4 Paws x 2000 accounts x Price/Paw