Current marketing culture is consumer centric which demands evolving solutions for emerging strategies. Like many highly regulated industries, healthcare has a complex regulatory environment to grapple with which can delay the transition to newer marketing strategies.
Burst Biologics introduced a new healthcare product to the market in 2014 to sell directly to clinicians, with a goal to provide a cutting-edge option for their patients. The cost of marketing the company’s premium product risked the company’s profitability margins.
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