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Please indicate your choice of the medical device from the list below as a response to this post.
- The medical device must be selected only from the list.
- The table below will be filled up on the first-come-first-serve basis.
- You can decide on any one of the following six countries for your selected medical device:
Medical Device Student name / Country
- Anesthetic machines
- Angioplasty balloon catheters s
- Artificial heart valves
- Breast pumps
- Catheter ablation machines
- Cochlear implants
- Continuous glucose monitoring system
- Dialysis machines
- Drug delivery pumps
- Electric wheelchairs
- Electrocardiographs (ECGs)
- Electrophysiology (EP) mapping and imaging systems
- Fetal monitors
- Heart-lung machines
- Holter monitoring devices
- Hospital beds
- Implantable cardioverter defibrillators
- Insertable cardiac monitors (ICM)
- Insulin pumps
- Nerve stimulators
- Programmable shunts
- Traction equipment
Project 5: Creating an International Business Plan
Step 1: Assess the Characteristics of MediCorp’s Potential Customers in the Selected Country
Subject: Marketing PlanFrom: Jillian Best, CEO, MCSTo: You
Let us continue crafting an international business plan for another country.
First, select a country from the list in the discussion area as a new market for MediCorp to expand into, and decide on a medical device from the list that MediCorp can use to drive expansion. To help with your analysis of the industry, you will need to identify the NAICS code for the industry subsector to which your selected device belongs. Then, begin to develop a six- to seven-page marketing strategy for MediCorp.
As you begin your marketing strategy for MediCorp, first analyze the characteristics of the companyâ€™s potential customers in the new market and address the international cultural differences.
Iâ€™ll send additional instructions shortly about how to analyze MediCorpâ€™s own characteristics and how those characteristics will influence this marketing strategy.
Thanks for your hard work!
When you have assessed the characteristics of MediCorp’s potential customers for your selected medical device in a country, continue to the next step, where you will work on expanding MediCorpâ€™s product base in the selected country by accounting for MediCorpâ€™s mode of entry.
You will incorporate your recommendations from Step 1 and Step 2 into a six- to seven-page marketing strategy that will be submitted for feedback at the end of Week 9.
Project 5: Creating an International Business Plan Step 2: Develop a Marketing Strategy
Subject: Marketing Strategy
From: Jillian Best, CEO, MCS
Now that we know more about MediCorpâ€™s potential customers, we need to examine some key attributes of the company to adequately prepare it for international expansion.
Include the following components in your marketing strategy:
- selection of new medical device for MediCorp to introduce in the selected country
- MediCorp’s main competitors in your selected medical diagnostics devices industry in the selected country
- market and segment growth of your selected medical device over the next three years in your selected country.
- Where does MediCorp add value as a way of gaining a competitive edge?
- Recommendation of relocation of one or more activities from MediCorpâ€™s value chain in the United States to your selected country, using Porterâ€™s Value Chain analysis.
- the legal business entity to market the products in the country (review Modes of Entry for help)
- impact of the countryâ€™s legal, ethical, and cultural standards on MediCorpâ€™s operations in the country (review Governance and Accountability for more information)
By the end of Week 9, submit your six- to seven-page marketing strategy to the Assignments folder. (This milestone submission is optional, but useful if you would like feedback.) Your marketing strategy should include all components outlined in Step 1 and Step 2.
Then, continue to the next step, where you will consider the clientâ€™s financial projections and the accounting standards in the selected country.