Strategic Marketing Plan for an early stage EEG Headband Startup in Southeast Asia

An emerging startup in Southeast Asia came to NTX Services to develop a Strategic Marketing Plan to enter a target market in the US currently untapped by EEG Headband manufacturers.

NTX Services used their signature data-driven approach to develop a four phase Strategic Marketing Plan which included the following elements:

  • Phase 1: Setting the stage
    • Product Positioning Review
      • Defining their Mission/ Value Proposition
      • A feature based comparison of their headset vs. selected 13 competitor’s products on the market
      • A competitive positioning map indicating their positioning relative to these competitors based on average price and technical features
    • Target Market Analysis
      • Defining the medical use case the manufacturer intended to pursue
      • An evaluation of the competitive intensity of the target use case
      • Defining the Value Chain for that target use case
      • An analysis of whether the target use case was ripe for technology based solutions
      • Sizing the Market for that particular use case by Revenue
      • Competitive overview of non-neurotechnology based solutions within the selected use case
      • Defining the typical Distribution Network in that market segment and identifying attractive distribution channels
    • Market Validation with Medical Experts for the selected use case
      • Conducted interviews with Selected Medical Experts in the target market
      • Delivered insights into the Technical Features, Functional Requirements (for the user), Pricing, Distribution/Sales Channels and Regulatory Strategy based on interviews with these key individuals
    • High level regulatory considerations
      • Defined requirements for marketing their product in the US at a high level, and recommendations on firms which provide execution
      • Defined the path for regulatory approvals based on the expected product classification
      • Applied a cost/benefit analysis to their regulatory strategy
    • Exploration of Other Potential Use Cases
      • Defined one alternate Use Case for the Company to consider
      • Sized the market for that particular use case, with a recommendation on which segments were most attractive within the space
      • Provided a competitive positioning map including both neurotechnology and non-neurotechnology players in the space
      • Recommended a high-level marketing strategy based on trends in that target market
      • Provided an analysis of the competitive intensity of that target market
      • Analyzed challenges within that target market, and recommended countermeasures to the company to tackle these challenges
    • Recommendation of a Use Case to Pursue
      • Based on the above analysis, recommended a use case for the company to target
      • This recommendation was made in tandem with the company senior management and reviewed by their key investors before moving forward with Phase 2
  • Phase 2: Defining the Target Consumer Segments and Preliminary Sales Plan
    • Defining Consumer segments based on demographic and psychographic data
    • Analysis of consumer segments and recommendation on which consumer segments to pursue
    • Identifying key Distribution Points and Marketing Channels to use to reach a specific segment
    • Defining and recommending an Online and Offline Marketing Strategy, including types of content, expected resources required and suggesting KPIs to measure success of the strategy
    • Identifying potential commercial partners, including key decision makers at each organisation
    • Defining and recommending an optimal distribution strategy to meet company goals

NTX Services is currently contracted to develop Phases 3 & 4 of the company’s Marketing Strategy including an optimal Pricing policy and Go-To-Market Strategy. Updates to follow.