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Market research:
Market size:
Target market:
The target market for this product is hospitals with seven or greater
recovery room beds. Target market makes up 80% of all surgical
operations in United States.
4p’s:
Product:
Place:
Promotion:
Price:
It was believed that this initial investment would cover the fixed costs
of the company during its first year of operation.
There are 31,365 recovery beds minus the hospital that have less than
seven beds.31,3651,608-3,603-
Unitone system will be sold for every eight recovery beds. Therefore,
26,155 divided by eight = 3,269 units to be soldThe blanket come in
packs of twelve and the demand for these depends on the amount of
surgical procedures in hospital as well as the number of patients that
could become hypothermic. The cost of the unit is $380. If the
company gave the unit for free to the hospitals they would create a
monopoly and only there disposible blankets would work effectivley
with the units. The cost of this would be ($380 muliplied by the units
to be sold 3,269 units) = $1,242,220 The 30% distributor cost is
irrelevant here as the unit was not sold for a price.
Recommendations:
One must also remember that the units are sold now to hospitals and
thus if Augustine medical sell them for free now as a promotional offer
they will reap the profits in the following years as they will no longer
have the cost of selling the units for free and will have gained a huhe
market share which should help to elliminate the potential english
competition in the next year.