Project 5 International Business Plan

Friday, March 18, 2022 

Hi,  

Project 5 milestone requires you to develop a six- to seven-page marketing strategy of MediaCorp’s, Inc.’s selected medical device for the selected country by identifying (1) the NAICS code for the industry subsector to which your selected  device belongs, (2) characteristics of the company’s potential customers in the new market, (3) main competitors in the country, (3) market and segment growth over the next three years, (4) Where does MediCorp add value as a way of gaining a competitive edge, branding and pricing strategy, (4) market and segment growth and profitability over the next three years, (5) the legal business entity to market the products in the selected, and (6) impact of the country’s legal, ethical, and cultural standards on MediCorp’s operations in the selected country.  

Below are my comments on your Project 5 milestone:  

Your milestone starts well with Marketing Strategy but does not mention wheelchairs till p. 6. 

When ready, your introduction should summarize the purpose and tech specs of the electric wheelchairs proposed to be offered by MediCorp in Brazil.  It should include the 6-digit NAICS code for your product. The introduction should also mention the names of the main competitors, p. 7, and market potential in Brazil. In addition, the introduction should mention MediCorp’s proposed strategy in Brazil, e.g., broad/cost leader/differentiate/niche (see attachment-Eight Strategies in Capsim), since you mention that the market entry strategy will greatly consider pricing, p. 7 and price it should adopt as it introduces its electrical wheelchairs in Brazil. The introduction should briefly (300-400 words) inform the reader of the overall approach and coverage in your paper in your paper, what it sets out to do. 

Your discussion on Market Segments and Growth should explain the basis of estimating the total demand for electrical wheelchairs in Brazil and MediCorp’s estimated share based on its strategy and price point, keeping in mind that the pricing of wheelchairs in Brazil ranges from $1500 to more than $15000 with dependence on the quality, size, brand and features, p. 6.The proposal that MediCorp  should the market with a baseline price of $2000 dollars, should be supported with the design feature it will offer and the competition it will have in this price range. 

A reference to the demographics and the requirement of electric wheelchairs in Brazil should support your market segments and growth estimates over next three years. Since electric wheelchairs are bought directly by the hospitals and individual users, the discussion should include the buyer profile and the source of funding, depending on the healthcare sector structure, such as publicly funded, private sector, or mix of both. The buyer, or the customer, is the one who pays for the product; consumer is the end-user. In some cases, they are the same. It helps to keep the difference in mind when estimating the demand. 

The discussion on Competitive Edge should include any special features of the product for Brazil such as greater reliability, ease of operation, after-sales service, etc., to assist in branding and promotional efforts. 

You have MediCorp’s main competitors in Brazil for electrical wheelchairs as SmartDrive, Permobil Power Wheelchairs, Tru-Shape and TiLite Manual Wheelchairs. It would be useful to include the competitors’ price and market share in Brazil. 

While proposing an entry strategy, you should discuss the primary and secondary activities of MediCorp’s electric wheelchairs to recommend the activities you propose should be located in Brazil. 

You suggest that MediCorp should enter the Brazilian market for electric wheelchairs in a joint venture with Autocam Medical, a leading manufacturer of precision-machined tools and equipment. In identify a local partner you should describe your selection criteria for the partner. The nature of the joint venture with the local partner should also be described - Would the JV be a minority, equal, or majority holding by MediCorp, and why? 

In your final paper, the cultural aspects should be supported with your discussion on how Hofstede’s cultural dimensions would play out in your marketing plans in Brazil.  

Professor

The Global strategy for this International business plan is: Niche Cost Leader

Global Niche Cost leader concentrate primarily on the low-tech segment across two or three countries. Competitive advantage is gained by keeping R&D costs, production costs, and raw materials costs to a minimum, enabling the company to compete on the basis of price. Prices are below average. Regional and product branding and sales efforts are below average. Automation levels are increased to improve margins.

Vision statement: Reliable products for low technology customers across the globe; our brands offer value.to interpret the results as a consequence of the team’s decisions.