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In an effort to add value as a way of gaining a competitive edge, MediCorp will do the following: (1) Offer the Hot bed product at a discounted price to hospitals located in rural areas; (2) Offer the product at a premium price to medical providers and hospitals located in cities; (3) Focus on an integrated marketing communications strategy to advertise Hot bed. Essentially, MediCorp will employ the local niche cost leader strategy in which competitive advantage is gained by distinguishing products with excellent design, high awareness, and easy accessibility (UMGC, 2020b). MediCorp will attract customers in the market by using the “one look” approach where marketing communications utilize the same logos, colors and 10
INTERNATIONAL BUSINESS PLANgraphics (UMGC, 2020a). This will help with brand recognition needed for growth in the market. The one look approach in combination with our slogan “Whatever pace you live yourlife at, hot bed will is with you all the way”will be incorporated on all advertising and public relations. We will utilize social media ads to appropriately align with the technological advances of individuals in Brazil. 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 MediCorp 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 ADAVIUM Medical. ADAVIUM Medical 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 Brazil have done so through acquiring or partnering with other businesses (UMGC, 2020b). The strategic alliance with companies alike limits the amount the competition within the industry and enables a companyto 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 (UMGC, 2020c). MediCorp already has a brand name within the medical industry market and will introduce the new product with an equal partnership with ADAVIUM Medical. This mode of partnership will enhance equal ownership rights and easy withdrawal after acquisition a larger and stable market share. 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 CSRAs noted, Brazil has a population of 209.5 million individuals. The population in Brazil continues to grow daily. In fact, under leadership in 1990, Brazil came up with birth control 11
INTERNATIONAL BUSINESS PLANpolicy for families. Even with this measure, the population continues to grow. With Brazil being an industrialized country, there are also many health risks for many of its citizens.