An Outside Marketing Research Company

2072 WordsJun 14, 20169 Pages
Problem Statement There is a critical challenge that OR solutions needs to address. Despite having a promising launch in 2005-2006 on their OR surgical systems, the succeeding years there was no major marketing of the product neither presence of product activity. The company was at a standstill. This problem has negatively impacted the financial growth of the company and has inhibited the achievement of long term improvement. A possible cause of this problem is the resistance of Tom to any major overhauls in the organization or strategy. Perhaps, the presence of an outside marketing research company which investigates the concerns and issues of the company and provide strategic solutions that would help grow the company and…show more content…
Tom Marshall, an experienced engineer of medical devices was commissioned by The University Research Foundation ideas to close the loop in the MIS device. With that, Tom designed a unit, surgical control system that would promote safety, efficiency and quality of care (Swayne, Duncan, & Ginter, 2013). Tom capitalized $2.5 million from his personal funds and Jack helped put in an additional $2 million for the project. Both individuals were extremely optimistic regarding the devices and forecasted millions in return revenue. In fact, what they had initially projected on the company’s sale of units did not match to the actual number of units sold. Sadly, the projected sales were overstated by a few hundred. Jack has continuously explored options for the strategic distribution firm to boost sales. However, Tom had been adamant in keeping it in-house to retain more control. By 2005, O.R. Solutions were given the clearance by the FDA. The team was positive that with their sound business plan they were equipped to market their product (Swayne et al., 2013). In 2005 to 2009 the projected sales were 3460 units and but in actuality, they only sold 292 units with minimal net income. The team was motivated to create a strong sales force, target hospitals and increase partnership. They have promoted it to surgeons who were tremendously overwhelmed with surgical devices as well as the system. Yet, despite rave reviews the decision will come from the Administrators. To a
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