MT450: Marketing Management Professor: Samantha Bietsc Assignment 4: Minnesota Micromotors Simulation Magida Taracena Andonie 2/2/2015
As the newly chosen CEO of Minnesota Micromotors, Inc., I am in charge for determining the company’s marketing strategy. This includes its go-to-market approach and associated elements of product policy, including pricing and market positioning of the company’s medical device motor line. I will also need to make serious decisions about how marketing resources such as sales-force time and market research funds should be paid as well. In addition I will also need to determine how Minnesota Micromotors will meet the requirements of the market and its proposed customer base. Minnesota Micromotors was a manufacturer of brushless, direct current motors used in orthopedic medical devices. “Devices utilizing MM’s motors were typically used by orthopedic surgeons in large bone surgery, reconstructive surgery, trauma surgery, and sports medicine procedures” (June, 2014). Minnesota Micromotors sold around 97,000 motors a year and had a 9% share of the $137million medical motor market for orthopedic and neurosurgery devices. MM specialized in BLDC motors, and this offered many advantages over brushed DC motors, such as greater efficiency and consistency, less noise, and longer lifetime. My strategy for Minnesota Micromotors, Inc. is to basically in general increase the market share and profits in the current market environment by targeting the right customer segments and the tight allocation of marketing resources. This includes basing my strategy on customer’s needs, and customer’s satisfaction of the overall product and prices. So basically my marketing strategy was to start off with a list price of $145.
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