Marketing Report: Evaluating Medi-Cult's IVM Product Strategies

This report analyzes the marketing strategies of Medi-Cult, a biotech company specializing in Vitro Maturation (IVM), an alternative to In Vitro Fertilization. The report identifies Medi-Cult's major markets, including the United States, Denmark, France, Great Britain, and the international market. It highlights the advantages of IVM over IVF, such as reduced hormone treatments and lower costs. The report examines Medi-Cult's communication strategy, the 'Hub and Spoke' model, which utilizes blogs, websites, press releases, and social media to disseminate marketing messages and build brand awareness. Finally, the report recommends a benefit pricing strategy for Medi-Cult, emphasizing the value of the product in relation to competitors and the target market, to optimize both short-term and long-term income. The analysis considers the competitive landscape within the biotech industry and the importance of understanding consumer buying behavior.

Running Head: MARKETING MANAGEMENT 0
Marketing Management
(Student Name)
2/29/2020

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Table of Contents
Question 1........................................................................................................................................2
Question 2........................................................................................................................................2
Question 3........................................................................................................................................2
Question 4........................................................................................................................................2
References........................................................................................................................................4

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Question 1
Medi Cult is one of the biotech companies that have developed a new alternative to In Vitro
Fertilization which is also called as Vitro Maturation. Therefore, the major markets for Medi-
Cult Products are explained in the below points:
 United States
 Denmark
 France
 Great Britain
 International market
Question 2
Similar to IVF, IVM has several advantages. First of all, in order to prevent hormone
production, IVM does not require women to receive self-administered treatments for 30 days,
which are known to have major side effects. First, in contrast with IVF, IVM is simpler.
Hormone costs have decreased by 90 percent, while labs and other complex costs have decreased
also by 50% (Herdiansjah, n.d.). U.S. prices vary from $4,800 to $6,800 for IVM operations,
while the expense for IVF is from $8,000 to $10,000. In the rest of the world, the expense of
IVM varies from 2.400 to 3.400 dollars, while IVF prices vary from 4.000 dollars.
Question 3
The Hub and Spoke concept is the communication strategy used by Med-Cult. The
business core consists of blogs and websites that allow the company to reach the viewer politely
in order to see what the company sells. The Company offers the target audience comprehensive
product information and helps them make buying decisions with the white paper or blog
postings. These are the networks by which the company may preserve the material and deliver it
to different clients. Press releases, social media platforms and guest notes are included. Organic
speech involves search engines, whereas paying tv is ads. The role of spokes is to hit the target
markets with the marketing message and the material. The purpose is to create brand awareness
and guide the market towards the app, the hub and the spokesperson model followed by the

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organization. One of the benefits of using this approach is that Medi-Cult will extend its
marketing efforts (Key & Czaplewski, 2017).
Question 4
I recommend Medi-Cult's product pricing approach to find optimizing income for the
long and the short term is benefit pricing. Price pricing strategy is one where costs are focused in
relation to the values of the competing parties on the view of the target market as to the price of
the goods. Pricing based on value knows the buying process of the consumer. In the estimation
of prices, efficiency and services, consumers are more inclined to compare different choices and
thus to determine value one has to better understand the product (Ashton & Hudson, 2017).
Competitors are another aspect Medi-Cult will take into account in the execution of this
price strategy. Since the biotech business is the first company in the sector, it is intended by
being the first in the market to have a two to three-year benefit, but the goods and clinical
practice of other biotech companies will be improved (Richter 2017). Contestants are going to
influence the interest understanding of the consumer, which helps Medi-Cult, in particular, to use
competitive prices as a basis for price comparisons.

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References
Ashton, J. K., & Hudson, R. S. (2017). The price, quality and distribution of mortgage payment
protection insurance: A hedonic pricing approach. The British Accounting Review, 49(2),
242-255.
Key, T. M., & Czaplewski, A. J. (2017). Upstream social marketing strategy: An integrated
marketing communications approach. Business Horizons, 60(3), 325-333.
Richter, F. (2017). Infographic: The Cost of Making the iPhone X. Retrieved from
https://www.statista.com/chart/5952/iphone-manufacturing-costs/