Inter-Global Medicares Expansion Strategy - Essay Example

 Inter-Global Medicare’s Expansion Strategy The business idea is effectively crafted to ensure smooth operation and actualization of the proposed service and product delivery. Inter- Global Medicare is projected medical facility with affiliates and franchises that seek to determine itself as a market leader in the dispensation of medical services and products. The business idea is that of health service provision encompassing both the sale of over the counter drugs as well as the clinical testing and diagnosis of diseases. This way, the business operates on both service and product delivery (Iacobucci, 2012). The entrepreneurship will be headquartered in a large private hospital in Chicago, Illinois. Besides, a number of other branches and affiliates in the larger expanse of the African continent will be setup. Some of these will be in Cape Town and Johannesburg, (South Africa). Other locations would be Nairobi, Kenya as well as Alexandria and Cairo both in Egypt. The three are the sampled business hubs in the continent and promise the best returns for the venture. In all its operations, the organization seeks to uphold quality and professionalism in the provision of affordable health care services to enable the achievement of a disease free society. It will use this as its brand positioning tool. The firm hopes to operate in foreign locations as well with Africa being an emerging market which promises a good ROI. The firm has a setting which favors it fundamentally as well as sentimentally in attracting potential business opportunities. Having good quality product and service packages would likely attract upper and middle class citizens in the market. These people can afford quality health care. In most cases in the developing countries, such people usually seek alternative opinion on medication from the developed countries. The U. S is one such destination for such patients. This puts into perspective the strategic position that the company would have in such markets. Having a health facility that will be able to offer these services within their countries will thus be a relief as it will save on the travel expenses besides the timeliness in cases of emergencies. The potential audiences for this business plan include potential financers such as monetary lending institutions and possible partners. All these have a common interest in the plan; its viability and the promise for returns. The plan must therefore prove beyond any reasonable doubt that it is achievable and practical. In proving these, it is common knowledge that most African countries are underdeveloped. They lack the quality basic services such as health care. Despite the poverty levels in the continent, it is also evident that it has some of the world’s richest men. The firm is not setting foot in Africa to exploit the people there, but to assure quality for the money that every single client will opt to invest in own health. Inter- Global Medicare offers both services and product delivery. This thus divides its potential market into two. The company runs both a private hospital and an all-inclusive pharmacy. The first market segment includes those who will seek medical services on the diagnosis and treatment of diseases. These will be the hospital’s clients. Offering both out and in-patient services, the hospital looks forward to having a very busy schedule. On the other hand, the hospital will run a pharmacy. This is a facility which will be developed within the premises of the hospital. This follows an understanding that there are some ailments in which self-medication is effective in controlling. At one time everyone uses such. However, in the purchase of these, the clients normally attach a lot of importance in the effectiveness of the drugs they buy (Tabbush, 2011). To ensure this, the facility plans to have drugs which are affordable availed to the customers at their convenience. This further widens the customer base because of the price disparity between the two types of drugs. Additionally, the pharmacy will hire a competent pharmacist having a degree in either pharmacy or pharmaceutical technology. For positive reception and effective formulation of reputation, the business will launch an efficient type of social responsible investing. This it seeks to undertake through rolling out a number of health campaigns accompanied by offering free quality services. Most people suffer from eye and ear complications especially in old age. The company therefore plans to kick start operations with an eye together with an ear campaign that will target the old leaving in slums and in rural areas. This promises to be a very expensive undertaking especially given the nature of the operations and services that are offered at such campaigns. However, the company seeks to collaborate with some other players in the economies. Collaborating with other corporate and service providers in the markets will be a cost effective way of raising the money necessary for the execution of the campaigns. The business venture targets are yet to be fully exploited by most firms. Africa is a market which is characterized by many opportunities which are yet to be exploited. Besides, it will have an established business running in Chicago. With effective manipulation of these factors, the company will benefit from these. This is an effective way of covering up against possible loses; should one venture or product fail, another may excel thereby shaping the type of undertaking to invest in particular regions. The uncertainty that characterizes emerging markets like Africa presents a challenge. The poor state of the countries may result in a poor response to the products and services offered by the facility. However, through strategic planning and effective management, the company would counter this appropriately. The target market is expansive with a large population. Should the business perform better, there would be possible expansion opportunities which will include the growth of its facilities. Besides, it would seek to open other business ventures of similar kinds in other countries. Inter Global Medicare seeks to introduce into its target market quality services with an aim of increasing cost effectiveness. Taking the features of the target market into consideration, the company and its products and services will therefore enjoy minimal competition. In turn aid position it amid some of the best health care service providers in the country. The company will run on effective information technology, which will help in restoring data integrity and confidentiality of client information. The technology would integrate emerging innovations such as e-surgery, which is another cost effective strategy targeting its market segment (Bogomolova, 2011). References Bogomolova, S. (2011). Service quality perceptions of solely loyal customers. International Journal of Market Research, 53(6) 793-810. Iacobucci, D. (2012). MM2 (2nd ed.). Mason, OH: South-Western Cengage Learning. Tabbush, et al. (2011). MBA primer: Marketing management 3.0 instructor-led printed access card (3rd ed.). Mason, OH: Cengage Learning. Read More