Propose Strategic Marketing Initiatives to Accelerate Market Share and Revenue of MEDTECH Company for Trauma Implant Device in Indonesia (Case Study at MEDTECH Company)
Journal Title: International Journal of Current Science Research and Review - Year 2024, Vol 7, Issue 08
Abstract
Trauma is a critical global health issue, leading to millions of serious injuries and significant fatalities worldwide, particularly from traffic accidents. In Indonesia, traffic accidents were the fifth leading cause of death in 2023, highlighting the urgent need for effective trauma care. Despite the pandemic, the trauma device market in Indonesia experienced growth, with MEDTECH’s portfolio outperforming the market but still underperforming in revenue generation. This research aims to address MEDTECH’s challenges and formulate strategies to enhance its market presence and sales performance. The study is divided into three phases: identifying core business issues, establishing a theoretical foundation using PESTLE and Porter’s Five Forces, and conducting a SWOT analysis. The PESTEL analysis revealed opportunities such as economic growth and technological advancements, and threats including local content regulations and supply chain issues. The Porter analysis suggests moderate market attractiveness due to competition and innovation needs. The STP analysis identifies key targets, including Tier 1 hospitals for advanced Variable Angle (VA) implants and Tier 2 hospitals for cost-effective Mono Angle (MA) implants. The Marketing Mix analysis highlights the need for product updates, pricing adjustments, expanded distribution, and enhanced promotional activities. To strengthen its position, MEDTECH should focus on immediate product development and market penetration strategies, while also planning for long-term local manufacturing and regulatory compliance to ensure sustainable growth in the Indonesian market.
Authors and Affiliations
Aprianto Tri Nugroho, S. T.
Keywords
Related Articles
- EP ID EP741908
- DOI 10.47191/ijcsrr/V7-i8-17
- Views 43
- Downloads 0
Exploratory Study of Metaverse in Business in Indonesia Using Scenario Planning Approach (Metaverse Case Study in Digital Business & Technology Division PT Telkom Indonesia)
The Metaverse, as the next step after the internet (Web1) and Social Media (Web2), gained attention after Facebook rebranded to Meta in 2021, signaling a focus on its development. While still in its early stages, with li...
Implementing OKR Framework in Solving Safety Culture and Safety Program Issues to Elevate Safety Performance of PT. X-Y Whilst Preserve The ESG Rating of PT.X
Oil & gas business is still attractive for investors. Today, they look carefully at company’s financial indicators (ROA, ROI, Profitability) and new indicator called “ESG” in making investment decision(Pedersen et al., 2...
Land And Building Tax (PBB), Revenue Sharing Fund (DBH), and the Remaining Budget Calculation (SiLPA), Network Capital Expenditure (BMJ) and Physical Special Allocation Funds (DAK) at the City Government in Indonesia
The purpose of this study is to analyze the property tax, profit-sharing funds, excess budget calculations, network capital expenditures, and revenue from special physical allocation funds for municipal governments in In...
Strategic Management of COVID 19 Pandemic; Response and Preparedness in Sri Lanka
Serious pandemic of COVID -19 a highly contagious respiratory disease caused by the Severe Acute Respiratory Syndrome Corona Virus 2, which was first discovered in December 2019 in the city of Wuhan. This highly infectiv...
The Influence of Electronic Service Quality, Sales Promotion, and Product Variation on Purchase Decisions and Satisfaction: a Study on BUKALAPAK
Bukalapak, as one of the most popular online shopping applications in Indonesia, faces challenges in satisfying its customers. Despite offering a variety of products and services, there are significant complaints regardi...