Marketing Diabetes Device To Malaysia

ATEK's Final Marketing Plan for Launching its Integrated Diabetic Device to Malaysia

MKT 660 -International Marketing

Unit 5 Group Project

April 22, 2012

Abstract

This paper concludes Phase III and final marketing plan for ATEK introducing its new integrated diabetic device to the country of Malaysia. The marketing plan is outlined in sections that include an executive summary, company mission statement, situation analysis, marketing goals and objectives, marketing strategies, sales and market share projections, and evaluation and monitoring. The paper then offers a conclusion summarizing ATEK's overall plan in general for its revolutionary integrated diabetic device that is designed to greatly help the people of Malaysia who suffer from diabetes.

Table of Contents

Page

Introduction 4

The Company 4

Product 5

Marketing Plan-Executive Summary 8

Company Mission Statement 9

Situation Analysis 9

Marketing Goals and Objectives 10

Marketing Strategies 11

Sales and Market Share Projections 13

Evaluation and Monitoring 14

Conclusion 15

References 16

ATEK's Final Marketing Plan for Launching its Integrated Diabetic Device to Malaysia

Introduction

A solid and sound marketing plan will steer a company to focus on the satisfaction of its customer needs; determine the demand (consumer's wants and needs), develop the product to meet the demand, and channel the product to the consumer-and make a profit in the process. ATEK has created just such a plan, by which it intends to reach all the above mentioned goals while launching its integrated diabetic device to Malaysia.

Company, Product, Selection Process for Target Country

The Company

ATEK Company was founded in 1946 in Minneapolis, Minnesota. ATEK Company produces over 8 million finished unit goods annually, 1,300 finished goods SKU's annually and over 150 million medical plastic components each year (About Atek, n.d.). ATEK is the ideal manufacturing company that provides and services a diverse array of industries including aerospace, medical, defense, communications, and transportation. ATEK company believes that a partnership with their customers and suppliers are the source to the company's success. ATEK Company has total control over the price, product, distribution and promotion of their products and services, which makes them the only source to their customers.

ATEK Company is divided into five subsidiaries: ATEK Medical, ATEK Manufacturing, ATEK Plastics, ATEK Products and Progress Casting. ATEK Medical was founded in 2003. There are two locations of ATEK medical: Grand Rapids, Michigan (Headquarters) and San Jose, Costa Rica. ATEK Medical is known as a global leader for producing and launching medical devices in categories of Class I, II, and III devices. Their systems minimize the production cost for mature products, precision injection molded plastic components and distributes incomparable quality for a substantial amount of product lines and units. ATEK Medical's mission is to help improve businesses in their difficult areas to reach company goals. The foundation of ATEK medical is based on innovative, product performance, product portfolio profitability and multifaceted medical devices (About Atek, n.d).

The Product

For people with diabetes, their world revolves around their blood sugar levels. A blood glucose meter helps people determine what range their blood sugar level is at any given moment. Depending on the severity of the diabetes, determines how often an individual must check their blood, so the device they use to monitor these levels truly can be a life saver. However, there are factors to consider because improper use of a monitor will not display an accurate reading (Living with diabetes, 2012). This meter only shows the current state of blood glucose levels and is different from a dose calculator. A dose calculator is designed to determine how much insulin is needed at a specific time of day, such as meals or activities. This is dependent on what the level is at that moment and how much insulin is needed to correct or maintain the blood glucose levels (Welcome to Integrated Diabetes, n.d.).

Insulin pumps are designed to make life easier for those with any level of diabetes. This devise is kept on the body and the insulin is delivered through a catheter, which continually releases a dose of insulin 24 hours a day, based on the programs that are individually set. Depending on the individual needs, a person can increase doses at meals or adjust the dosage necessary based on the meal or activity they are engaging in. These insulin doses are separated into three categories: Basal rates, Bolus doses to cover carbohydrates at meals and a correction or supplemental dose. The basal rate is the continuous flow of insulin, a bolus is simply a concentrated or extra dose when necessary, and a correction or supplemental does refers to adjusting the devise manually to accommodate changes in meals or activities. It makes having diabetes more manageable and takes the ease off a person's mind if they are in danger or not (Living with diabetes, 2012).

Having a device that combines all three conveniences with data interchange, is a revolutionary device for those who live with diabetes. It will help ease their mind and reduce the amount of steps to ensure that they are healthy. Not only will those with diabetes be able to live a fuller life but stress and manageability will now become a thing of the past!

Selection Process for Target Country

In order to make a decision on which country of choice to first market the integrated diabetic devise overseas; a comparison and contrast of countries and criteria thought to be considered was conducted.

Herein below is the table descripting comparable criteria for the various countries (including the United States) for which ATEK Medical looked at to decide on which country to market