Development of a business global marketing plan in healthcare

This is a paper that focuses on development of a business global marketing plan. The paper focuses on the introduction of a new product and also service in the market.

Development of a business global marketing plan

For this task, you will select a business in healthcare that you would like to develop new products and services in order to attain a competitive advantage in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond.

Also, you must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course. Note: Assessment should be submitted in Microsoft Word or PDF format.

A.  Develop a proposal for your chosen business’s global strategic marketing plan in which you do the following:
1.  Firstly, identify two new products and/or services that the company can sell or offer to a global market in the healthcare field.
a.  Discuss three different methods you used to determine that there is both a need as well as an existing global market for these products and/or services.
b.  Explain one competitive advantage that the company will gain by offering these new products and/or services to a global market.
c.  Discuss two inherent risks associated with launching the new products and/or services to a global market and how to minimize these risks.

Development of a business global marketing plan

2.  Secondly, discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.
a.  Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.

3.  Thirdly, discuss at least one distribution channel for the two new products and/or services.
a.  Analyze key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).
b.  Analyze how the global supply chain may affect the product or service.

4.  Fourthly, discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services’ position within the overall market strategy of the global marketplace.
a.  Identify costs associated with developing and launching the new products and/or services.
b.  Evaluate consumer acceptance of the price set for the new products and/or services.
c.  Evaluate competitor prices for similar products and/or services.

5.  Lastly, discuss the promotional strategy you will use to promote your products and/or services in a global market.
a.  Identify two mass media and two social media channels you would use to promote your new products and/or services in a global market.
i.  Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)
b.  Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.

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