The company has been so pleased with your contributions to their strategic planning and development that they would like you to assist with a new endeavor. Leveraging their strength in manufacturing genetic testing devices, MediCorp now wants to diversify their offerings and expand within the field of medical devices. This is a large field that extends to a myriad of products. MediCorp has asked you to identify a medical device that the company can use as a vehicle for expanding into another country. For this project, Breast pumps in Spain is your choice of the medical device and country for MediCorp that the company can use as a vehicle for expanding into another country. Spain is the location for MediCorps expansion; create an international business plan that guides the companys operations in Spain and grows MediCorps business within the selected devices NAICS industry subsector. You will need to select a strategy to guide your decisions for MediCorp. Review all eight strategies in Capsim document (this document will be uploaded) before making a decision. You will need to employ one of the strategy selections from the eight strategies in Capsim document to develop a strategy that examines MediCorps potential customers, business operations, financial projections, and implementation metrics. As this clients business grows, Maryland Creative Solutions CEO, Jillian Best, emphasizes that it is critical for you to provide clear and concise analysis in your reports to MediCorp. She remarks, Success with these reports could mean big things for MCS as well as for each of you. Lets finish strong. Introduction Building on the lessons from your Capsim simulation and your analyses of MediCorp, Inc. in the global and local markets, you will now craft an international business plan that calls on you to devise a marketing strategy, develop financial projections, and create a strategy implementation plan for the company to market a new product in another country by relocating one or more activities from MediCorps value chain in the United States to your selected country. Step 1: Assess the Characteristics of MediCorp’s Potential Customers in the Selected Country (Spain) Email Subject: Marketing Plan From: Jillian Best, CEO, MCS To: You Hi, Let us continue crafting an international business plan for another country. First, select a country (Spain) as a new market for MediCorp to expand into, and decide on a medical device (Breast Pump) 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 (Breast Pump) belongs. Then, begin to develop a seven-page marketing strategy for MediCorp. As you begin your marketing strategy for MediCorp, first analyze the characteristics of the companys potential customers in the new market and address the international cultural differences. Ill send additional instructions shortly about how to analyze MediCorps own characteristics and how those characteristics will influence this marketing strategy. Thanks for your hard work! Jillian Step 2: Develop a Marketing Strategy Email Subject: Marketing Strategy From: Jillian Best, CEO, MCS To: You Now that we know more about MediCorps 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 MediCorps value chain in the United States to your selected country, using Porters Value Chain analysis. the legal business entity to market the products in the country (review Modes of Entry for help) impact of the countrys legal, ethical, and cultural standards on MediCorps operations in the country (review Governance and Accountability for more information) Jillian Step 3: Make Financial Projections in the Selected Country As you continue to work on your international business plan prepare market share estimates for MediCorps medical device in the selected country and revenue forecasts for the next three years. Step 4: Prepare Strategy Implementation Plan The 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. Step 5: Complete Your Final Business Plan INBOX: 1 New Message Subject: Final Business Plan From: Jillian Best, CEO, MCS To: You Its been a pleasure working with you on this project.
