Client Situation
Our client is a skincare services clinic that offers scientific and US FDA approved dermatological procedures to enhance the appearance of the skin. In order to further extend their understanding of key Middle East markets, the client wanted to conduct a market assessment & penetration exercise in the UAE.
Cedar’s Approach
The primary objective of this program was to assess the opportunity and develop an entry strategy for the client in the UAE market.
- An internal assessment was conducted in order to collect & review the internal plans of the client & other in-house data
- Further, an external assessment was conducted, which involved scanning secondary data and conducting interviews with relevant people in the market, competitors & regulatory bodies
- Revenue analysis was conducted in order to understand the revenue growth through a strategic increase in outlets in geographies like the Middle East
- The collected inputs were exhaustively analyzed, after which an entry strategy was formulated from a holistic point of view- encapsulating all the relevant factors
Outcome
Cedar drew out the following recommendations:
- Financial Strategy: It was recommended that the client rationalize costs & lower the breakeven point by conducting a thorough review of the costs and selling prices of their offerings, by considering alternative pricing strategies for their new outlets
- Marketing Strategy: It was suggested that the client focus on Arab & Western customers to drive traffic & provide high ticket services to
- Pricing Strategy: The client was advised to introduce customized services, based on local market requirements, with regulatory certification and raise prices for select services
- Expansion Strategy: A detailed plan was drawn out, where Cedar analyzed each location within the geography of the UAE, and detailed region-specific plans of action with timelines were carved out