NCGrowth Explores Growth Strategies with Practicon
By Justin Myers
Practicon, Inc. is a business founded inGreenville, NC in 1982. They are a distributor and developer of dental supplies along with small dental equipment. Currently, Practicon offers over 3,000 products to its customers, who range from competitors to private dental clinics to various government institutions. Practicon is considered a leader of unique dental supplies that aid dentists in advanced care and increased productivity. These products are typically described as creative and hard-to-find by its customers who help inspire and design the products that best suit them.
Practicon engaged the help of NCGrowth to address issues regarding future growth and increasing market share. The work included exploring expansion into new, emerging markets that have untapped potential, and especially researcing the shipping costs for this expansion.
This project sought to target the areas of concern in order of priority to increase Practicon’s growth inside the dental supply industry. Extensive research was conducted into the new markets and the product offerings that would best suit the market. Research was also conducted into the most efficient way to ship to these new markets, for both Practicon and the new customers. From the research and analysis of the project NCGrowth was able to provide Practicon with the necessary information in order to grow.
Justin Myers is an NCGrowth analyst and an MBA candidate at East Carolina University NCGrowth partnered with East Carolina University’s Small Business and Technology Development Center on this project.