MBA MKT501 Marketing Management, Assignment: Simulation – Managing Segment and Customers, Marketing Management Professor: Marketing Simulation: Marketing Segments and Customers V2 The Orthopedic Motor Market: Minnesota Micromotors, Inc. And Brushless Motor Technology Year 2015 Page | 1
MBA MKT501 Marketing Management, Assignment: Simulation – Managing Segment and Customers, Summary & Introduction As the newly nominated CEO of Minnesota Micromotors, Inc., I am now in difficult condition for determining the company’s marketing strategy, in order to raise the market share and sales of the company. This includes the marketing approach, including pricing and market positioning of the company, which produce and sales medical device motors. I will also need to make serious decisions about how marketing resources such as sales-force time/allocation and market research funds should be paid. Moreover, I will also need to determine how Minnesota Micromotors will meet the requirements of the market and how MM will respect and increase the customer satisfaction, of both historical and new customers. Actually, Minnesota Micromotors sold around 97.000 motors per year and had a 9% share, producing $137 million of revenues, selling orthopedic and neurosurgery devices to the medical motor market. Objectives Market share: Increase Market share in segments of Large Customer over 9%. Profit Increase: Increase on the profit by investing in research, getting a better overall performance and reducing the SG&A expenses. Revenue increase: over 30% respect to Q3 of 2012 Profit increase: over the 30% respect to Q3 of 2012 Target segment Focus on A and D segments Product development concentrate more on performance of the Power-to-Size Ratio, in order to remains the technical leader on this product segment. Then focus the product development on the Thermal Resistance motors, since it is demanded more from our target customers and in the view to reduce the relative performance gap with the competitors. Finally, when the budged allow this cost, invest also on the Manufacturing Efficiency Improvement. Strategy My strategy for Minnesota Micromotors, Inc. was to increase the market share and profits in the current market, targeting the right customer segments and allocation the right sales and marketing resources. This also includes taking decision on the prices and its discounts, in order to meet the customer’s needs and satisfaction.
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- Marketing, Customers, large customer, Managing Segment