The marketing strategy of Cybiocare in Russian market is to enter the market and, exploiting the competitive advantage of revolutionary technology, reach the following objectives :
• winning the government tender on glucose sensors and related expandable materials at least in 50% of subjects of Russian Federation within first two years
• getting the leading market position (market share in monetary terms) in Saint-Petersburg and Moscow among glucose sensor market among people with 1st type diabetes within the first year
By means of implementing licensing as an entry mode, choosing target markets and developing appropriate marketing mix.
The entry mode was chosen to be licensing for several reasons:
The licensing agreement will be conducted with one of the Russian companies, manufacturing medical devices and the licensing package will include technical know-how, patent on PGS and trademark (the reasons of including trademark will be described in part dedicated to product, branding).
Of course, it should be taken into account that in case of licensing the control of market is limited and it is necessary to develop control processes. The competition concern is somehow lowered by producing the core component – sensor by Cybiocare itself, but still remains considerably high.
Photonic Glucose Sensor tends to be the first non-invasive product on the global market. It is based on the revolutionary patented core photonic technology, which is able to non-invasively detect fluctuations in glucose levels, thus helping diabetics and their caregivers prevent hypoglycemia. PGS, strapped onto the arm, works by sending near-infrared lights into the skin and measuring the angle at which them bounds back out from the dermis. If the angle is narrow, this means that there is less glucose in dermis, if the angle is wide, there is more glucose in dermis. When PSG detects that you may be on the onset of hypoglycemia, the alarm is triggered. The data can be easily transferred from or to the iPhone or iPod Touch.
While entering Russian market, the company leaves the same branding. Cybiocare regards this strategy as efficient, since it considers Russian market as potential market for future entering with its other products. That’s why it is preferable to make consumers aware of brand and develop consumer’s loyalty and trust. Moreover, the following conditions are favorable to successful branding:
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