First, select a country from the list in the discussion area as a new market for MediCorp to expand into, and decide on a medical device from the list that MediCorp can use to drive expansion. To help with your analysis of the industry, you will need to identify the NAICS code for the industry subsector to which your selected device belongs. Then, begin to develop a six- to seven-page marketing strategy for MediCorp.
As you begin your marketing strategy for MediCorp, first analyze the characteristics of the company’s potential customers in the new market and address the international cultural differences.
Now that we know more about MediCorp’s potential customers, we need to examine some key attributes of the company to adequately prepare it for international expansion.
Include the following components in your marketing strategy:
· selection of new medical device for MediCorp to introduce in the selected country
· MediCorp’s main competitors in your selected medical diagnostics devices industry in the selected country
· market and segment growth of your selected medical device over the next three years in your selected country.
· Where does MediCorp add value as a way of gaining a competitive edge?
· Recommendation of relocation of one or more activities from MediCorp’s value chain in the United States to your selected country, using Porter’s Value Chain analysis.
· the legal business entity to market the products in the country (review Modes of Entry for help)
· impact of the country’s legal, ethical, and cultural standards on MediCorp’s operations in the country (review Governance and Accountability for more information)
As you continue to work on your international business plan prepare market share estimates for MediCorp’s medical device in the selected country and revenue forecasts for the next three years.
This analysis will form a portion of your final international business plan. In the next step, you’ll examine another element of the business plan, strategy implementation.
he next step is to specify the major factors to be tracked for strategy implementation using the four perspectives of the balanced scorecard: the learning and growth perspective, business process perspective, customer perspective, and financial perspective.
Next, you will combine your marketing strategy and your financial, governance, and implementation analysis into a final report.
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The international business plan should be 10–12 pages, excluding cover page, executive summary, reference list, and appendices. Any tables, graphs, and figures should be included as appendices. Your plan should have one-inch margins and be double spaced in 12-point Times New Roman font. In-text citations and references should abide by APA format. The plan should be organized using headings and subheadings to improve its readability.
Your final international business plan should include the components outlined in the international business plan template.
See template elow
summarizes the results of your analysis and how you arrived at the recommendation
belongs on a separate page from the introduction to the report
Start your executive summary as follows: “Business Plan for [selected client organization] to enter [selected country] $(size of market in US Dollars) market for [product/service] through a [type of legal structure] with [selected alliance partner].”
Introduction (first page of report body)
states the purpose of the report
explains what the report will do
introduces the industry, country, and client’s name
characteristics of potential customers in the country
Governance and CSR
Summary of the recommendations and rationale
APA-style reference page