Introduction, Summary, Conclusion

Market Plan for Automatic Diabetic Kits in Nigeria

MKT 660 -International Marketing

Unit 4 Group Project

Abstract

The purpose of this paper is to specify who, what, when, and where automatic diabetic kits will be marketed and sold to. This paper discusses a specific target market and the diabetes statistics within that country, as well as within the continent in which the country resides, as well as why this marketing plan is the best one to go with, in terms of executing a marketing campaign, and the factors that go into that decision.

Market Plan for Automatic Diabetic Kits in Nigeria

Introduction

Nigeria has provided the most suitable environmental condition for the automatic diabetic kits. Considering population factors, government policy, macroeconomic status and prevalence of diabetic, only government policies discourage the investment of the foreign investor. Nigeria is one of a developing country with a very high population in Africa, and with the leading rate of diabetes prevalence in Africa, it diabetic population constitutes a quarter of total Africa diabetic patients.

Marketing Objective for the Company's Product

Simple- When proposing for the US to go outside of the country and have Nigeria assist with diabetic health concerns, it has to a simple task. “What is the purpose”? This is what they will ask you. The simple thing is, showing emotion towards the request. It is always the simplest and easiest thing to do. When people can “see” how it is affecting our society. They are most likely to act on it.

Measurable- The next question is, “Is it worth it”. Will Nigeria’s treatment be consistent, and save lives? Is this something that can be exposed to others outside of the US and can help those with diabetes throughout the world? The US mostly only agree to working with others outside of the states when they know they will gain profit, and it will make their people happy.

Attainable- Are we able to work with Nigeria and gain trust with them? We have to always make sure they are organized and not disloyal when it comes to sharing resources. Are they willing to come to the US and treat those with diabetes here, or we just have to purchase resources from them directly? We also have to take into consideration if we will have all resources needed to be able to provide the product. We may be a wealthy company in many ways, but we also have to be careful and make sure that it will not be anything that will affect us strongly financially.

Realistic- When taking into consideration to have Nigeria help us treat diabetes, we have to look at the side effects and what “will” happen with special situations. For example, what if the treatment does not work? What are the side effects? We always have to think of alternative to those who may not take the treatment well. Therefore, a backup plan has to be in order when agreeing to have someone outside the US to assist with such a serious health issue.

Timing- Finally, we have to ask ourselves, how much of a difference will it make in a year? Is it something that will make it go away forever, or will it have to be consistent? This will be the biggest question the government asks before moving forward. We have to see if it will be cost efficient, and is it actually making a big difference in the diabetic’s life.

Selected Country-Market

The selected country and target market is Nigeria. Nigeria has been selected as the target country due to the sustainable population that would allow for us to continuously sell the automatic diabetic kits. The current population of Nigeria is 190,632,261, making it the most populated country on the African continent (World Factbook: NIGERIA, The, 2018). As mentioned in a previous marketing plan, those with diabetes constitutes for one fourth of the overall African diabetic rates. In simpler terms, the total population of continental Africa was approximately 1.2 billion people in 2016 (Africa Population, 2017); in 2014, approximately 25 million people living in Africa have diabetes (Chutel, 2016), meaning that at least 2% of the African population has diabetes[footnoteRef:1], and Nigeria, alone, accounts for 25% of the total African diabetic rate. [1: The term “at least” is used due to the difference in when the statistics were gathered. Actual number could be more or less than what was stated.]

Table Comparing the Marketing Plan Outlines

Contrast the Advantages and Disadvantages of each Plan versus the Others

The automated diabetic kit allows for diabetic patients to monitor and control their sugar levels accurately and more precise compared to self-injections. This is because automated diabetic kits monitor the blood sugar level and can induce insulin into the body if the levels are low. This makes self-injection a primitive method since individuals have to inject insulin into their system following a strict timetable regardless of whether there is a need of having extra insulin in the body or not (Leonard, 2017). The advantage of self-injection over automated diabetic kit is that the self-injection model is cheaper than automated diabetic kits.

The Best Marketing Plan

The best marketing plan takes into account a number of factors, including a specific product, a specific target market, as well as sub-target markets, how the product can and will be advertised and marketed to the target, and sometimes when the marketing will begin. The best marketing plan is one that also follows SMART factors (simple, measurable, attainable, realistic, timing) in terms of accomplishing goals and objectives.

Rationale for Why this Marketing Plan is Better

This marketing plan will be the best to use out of the others, simply because it is more refined in who is being targeted and why. The previous plans left it up for discussion as to what country was going to be the target for the automatic diabetic kits, even with a comparison table showing information on different targets that could have benefitted from the kits. This plan doesn’t discuss when, exactly, the campaign will begin, as there are still factors that have to be considered before setting a specific time frame, however there are statistics given as to why the specific target market was selected, proving that Nigeria would benefit from the automatic diabetic kits over the other countries.

Conclusion

Nigeria will be a huge help to the US when it comes to the high percentage rate of our society being affected by dainties. Every country needs help with something, and this is a defiantly something that can promote health and maintain a balance to those with diabetes.

References

Africa Population. (2017, November 14). Retrieved March 27, 2018, from http://worldpopulationreview.com/continents/africa-population/

Chutel, L. (2016, April 09). The rate of diabetes has more than doubled in Africa and no one is ready for it. Retrieved March 27, 2018, from https://qz.com/657940/the-rate-of-diabetes-has-more-than-doubled-in-africa-and-no-one-is-ready-for-it/

Iwayemi, A., & Fowowe, B. (2011). Impact of oil price shocks on selected macroeconomic variables in Nigeria. Energy policy, 39(2), 603-612

Leonard, L. (2017). U.S. Patent No. 9,572,922. Washington, DC: U.S. Patent and Trademark Office.