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
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- EP ID EP741908
- DOI 10.47191/ijcsrr/V7-i8-17
- Views 17
- Downloads 0
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