Technological advances of individuals in china this

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technological advances of individuals in China. This marketing communications strategy is set to provide an element that other medical devices do not employ, visibility. The strategy will create a positive brand perception for MediCorps that will boost the company ahead of its competitors. MediCorp will take a more aggressive approach and enter the market through a joint venture with Zhejiang Dian Diagnostics Company Ltd. Zhejiang Dian Diagnostics Company Ltd is a whole distributor, testing and manufacturing of medical diagnostic products company. The company operates on $1.01 billion in revenue. Many of the largest medical device firms in China have done so through acquiring or partnering with other businesses. The strategic alliance with companies alike limits the amount the competition within the industry and enables a company to be more flexible in terms of price and the individuals they choose to target. Strategic alliances and joint ventures allow companies to share risks and resources required to enter international markets (Modes of Entry, n.d.). MediCorp already has a brand name within the medical industry market and will introduce the new product with the partnership with Zhejiang Dian Diagnostics Company Ltd. This alliance is strategic for MediCorp due to the risks and regulations in the mainland of China preventing international business from entering the company. Governance and CSR As noted, China is the most populous country in the world with approximately 1.3 billion people. The population in China continues to grow daily. In fact under leadership in 1979, China instituted the one-child policy for families. It wasn’t until 2016 that the policy was relaxed to allow for families to birth two children. Even with the harsh constraints, the population continues to grow. With China being an industrialized country, there are also many health risks for many of its citizens. According to the World Health Organizations (WHO), more than 80% of deaths in
INTERNATIONAL BUSINESS PLAN 13 China are attributable to chronic diseases, with an annual estimated 400,000 premature deaths linked to air pollution (Boyer, 2015). With that, the need for medical monitoring and diagnostic devices has substantially increased. When entering a new market such as China, MediCorps is expected to face certain challenges when conducting operations due to the country’s legal, ethical and cultural standards. Much like that of the United States, China’s Food and Drug Administration (CFDA) has the authority to oversee medical devices and ensure their safety and effectiveness, and protect human health and life (Weifan, 2016). Medical devices are classified into three classifications: Class I, Class II and Class III. MediCorps’ VitalAsthma product will fall into the Class I category as it does not need clinical trials or any special controls. China is effectively a one-government party. The Communist Party of China has complete control of the country. Foreign enterprises continue to report that Chinese government officials may condition approvals on a foreign enterprise’s agreement to transfer technology,

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