08 Sep Formulate a marketing objective
- Formulate a marketing objective for the diabetic medical device and the selected country-market which is China. State your objective for the short term (one year) using SMART—simple, measurable, attainable, realistic, and timing.
-The table below is an example of the SMART table that should be used and followed as an example to complete the SMART table. Please create your own SMART table and include in the paper and also briefly explain the SMART table.
- Develop a long term objective, but in order to meet that objective it has to be some short term milestones.
- Use a table to compare the marketing plan outlines available through the Internet. Contrast the advantages (strengths) and (disadvantages) (weaknesses) of each plan versus the others.
-An example of the table that should be followed to complete this portion is below.
- After completing the table please explain the table in great detail.
- Discuss/ Describe each marketing plan in DETAIL which should be about 2 pages on discussing each of the 3 marketing plans.
- Each element of the marketing mix
- Financial aspects, corporate social responsibility, promotion, trade, advertising, design, tangible and intangible features of the diabetic medical device.
- Talk about the 4 P’s of marketing meaning discuss the diabetic medical device product, price point( it needs to be a strategy behind the price point, and also take the competitor’s price into consideration), price strategy( how are you going to price it compared to the rest of the market, and their distribution strategy which for Stryker Corporation is mainly B2B, personal selling.
*Based on the analysis which of the 3 marketing plans are you going to choose to move into China to meet your chosen marketing objective.
*Talk about what is your reason for choosing one marketing plan over the other. Talk about why the chosen marketing plan over powers the others. Make sure that this portion discusses in great detail why the chosen marketing plan out of 3 versus the rest of them.
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