International Business Plan for Medican (Canada) Essay

International Business Plan for Medican (Canada) - Essay Example Marketing plan includes the main aspect of market penetration such as: location, target audience, HR, product modification, advertising and promotion activities. The research suggests that the real value of strategic planning may be more in the future orientation of the planning process itself than in any resulting written strategic plan. The research also includes analysis of the financial data and recommendations for further market penetration of MediCan. Corporate Profile and Nature of the Business MediCan (fictitious company) is a manufacture and distributor of high-tech medical equipment. Medical equipment industry is one of the profitable industries today and, as predicted, in future. An industry with this kind of rapid change presents several challenges for medical equipment and, namely production costs, property owners, and monopolies. Customers and technology are the primary driving factors of this industry. Company profile The company was founded in 1913 in Calgary as a private owned business. In 1990, the company owners identified the need for simple, inexpensive and portable blood test equipment which could be marketed to the medical profession. A device was developed cheaply. Sales did not come easily at first, but the breakthrough came in March 1993 when the first electronic blood test was delivered to a hospital. With orders flowing in, the present company, MediCan concentrates on manufacturing and marketing the new electronic medical devices. More routine production had been relocated to a new factory near Calgary in response to local planning restrictions, and for many years it benefited from low wage rates and tax concessions. No tax was payable for the first five... From the report it is clear that MediCan is originated manufacture of the equipment and has all the rights of ownership. MediCan decides to penetrate into Asia market, and China was selected as the most promising country. The product for promotion is inexpensive and portable glucose test device for people with diabetics. This product combines the properties of high effective glucose test device with low cost production proposed by MediCan. As the essay states MediCan (fictitious company) is a manufacture and distributor of high-tech medical equipment. Medical equipment industry is one of the profitable industries today and, as predicted, in future. An industry with this kind of rapid change presents several challenges for medical equipment and, namely production costs, property owners, and monopolies. Customers and technology are the primary driving factors of this industry. The company sells high-tech medical equipment for hospitals and individual patients. The basic equipment is intended for laboratories, anesthesiology and dental equipment, monitors etc. During the late 1990s the company had expanded con ¬siderably and its blood test equipment is being used in 50 countries around the world in hospitals, general practices, company health-care services and specialist test ¬ing laboratories. It has five factories located around the country. A program to develop new technology was undertaken at 1990s. MediCan had ow n research department. In some years a new part-electronic blood test was developed.