Marketing Plan to launch a medical devices for the market of Malaysia

Prepare a detailed marketing plan for a newly launched products (a medical devices for urology market and information of products will be given and available online) intend to be brought in to Malaysia market. Marketing plan must consist of below: 1. Introduction Not just an overview but describes and explain the background and purpose of the projects, a description of the newly launched product and how it fits into the market. 2. Situational Analysis (where is the company now?) A critical analysis of internal & external environment with effective use of SWOT analysis, Porter’s 5 forces or another analytical tool. Competitor analysis is also apparent. Analysis of consumer markets and business market is conducted. Content should at minimal includes: a) an internal assessment of strengths and weaknesses related to • company cultures and values, • company structure, functions and responsibilities, organizational forms, e.g. function-based, product-based, geographical-based, customer-based. • describe the current products/services and their positioning in the market. • key personnel, skills, experience, know-how, capabilities and financial, capital and human resources; • “Do you enjoy favour with your customers or potential customers, if so, why?” b) an external assessment of opportunities and threats related to • demand and demand trends: forecast demand for the product/service; the customers – how, when, where, what and how do they buy? • the target market: segmentation in detail using demographics, psychographics, geography, lifestyle or whatever appropriate segmentation • economic and business conditions/trends in the macroenvironment • state of the technology for this product: how is technology affecting it? • Political situation: is it affecting the marketing of this product/service? • Laws & regulations: are they affecting the marketing of this product/service? • Media: does current media favour this marketing plan? • Main competitors: describe their products/services, plans, experience, know-how, financial, human and capital resources, suppliers and strategy; do they enjoy favour with their customers, if so, why? what marketing channels do they use? What are their strengths and weaknesses? 3. Marketing Objectives & Goals – Where the company wants to go? Clearly states the objectives and goals of the company in relation to the launch of the product. Goals are quantified and societal objectives are also indicated. Evidence of a value proposition of the product and how the group will deliver satisfaction and maintain customer loyalty are apparent. i. State objectives – general and not quantifiable – e.g. “To establish a product in the marketplace”; “to become the market leader”; “to dominate the market”. ii. State goals – quantifiable in terms of sales, profits, market share, ROI, e.g. “to sell 100,000 units per year”; “to capture 25% of the market”. iii. State societal objectives – to make available the best treatment option available for patients and healthcare practitioner, related to healthcare benefit, e.g. shorter surgical timeline, lower downtime and back to healthy working conditions, lower cost etc 4. Identifying market segment, target markets & positioning Specific market segmentation, targeting and positioning statements clearly defined and fully justified. 5. Marketing strategies & programs – setting product / service strategy (with the direction to answer the question on “What is to be done to achieve objectives and goals?”) Product features clearly explained and justified with regards to: a) quality (performance, features, consistency of performance, durability) b) value-based price c) services (educational programs for healthcare professional, warranty, engineering services, reliability).