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1Running head: MARKETING STRATEGY STEP 1 & 2CEDARIntroductionThe heart and lung work together to keep the body nourished with oxygen. The heart pumps blood to the lungs to pickup oxygen and pumps oxygen rich blood to the body. When the heart’s function is compromised, open heart surgery is necessary. The Heart Lung Machine allows the surgeon to carefully stop the heart without interrupting the circulation of blood, and as the name implies the Heart Lung Machine – which takes over the function of heart and lungs to supply the body with oxygenThe machine consists of a pump which acts as the heart and an oxygenator which replaces the lungs. Oxygen poor blood is diverted from the vena cava to the reservoir. The oxygenator infusesthe blood with oxygen and the pump sends the blood into the patient’s aorta to circulate throughout the body. The machine also removes carbon-dioxide and other waste products from the bloodFunctions of Heart Lung Machine•Removal of CO2 from blood•O2 delivery to blood•Provide blood flow to body•Temperature maintenance• Automated Sugar Testing “iGluco”Medicorps, China,Project 5: MBA-670Dr. Subash BijlaniUniversity of Maryland Global Campus
2MARKETING STRATEGY STEP 1 & 2Executive SummaryThe diabetes epidemic in China continues to grow at an alarming rate and it has been estimated that around the one third of the world’s population with diabetes now lives in China (World Diabetes Foundation, 2019). Medicorp’s goal to expand in international market has madeit possible as it introduces a brand-new device that will change the way people manage their diabetes. Specifically, the company will focus on introducing a pain free automated sugar testing device called “iGluco”. The device is currently being manufactured and will introduced in market of China. This report will provide assessment on the company’s potential customers in the new market and address some of the strategies to introduce the product properly in the perspective market. There are so many traditional methods of checking blood sugar levels, “iGluco” has been created to show the people that a new product has been created to promote autonomy and sense of relief from pain. Medicorps is committed in creating a product that will the way people manage their diabetes and enhance the quality of life.
3MARKETING STRATEGY STEP 1 & 2Assessment of the Market Over the past years, China has achieved an extraordinary performance when it comes to developing different types of technology in the market. MediCorp’s decision to expand its influence on China has made it possible with the company’s mission to provide the best technology possible that would help its customers manage certain types of condition. Glucose meters are universally utilized in the management of hypoglycemic and hyperglycemic disorders in a variety of healthcare settings (Tonyuskina & Nichols, 2009). Medicorps will be introducing a device called. “iGluco” which would help customers manage their diabetes. This is a small