Strategic Marketing Analysis of Medtronic Healthcare Products: Report

This report provides an in-depth analysis of strategic marketing within the healthcare sector, specifically focusing on Medtronic, a leading global medical equipment manufacturer. The report examines Medtronic's marketing mix, including product offerings like advanced surgical technologies, patient monitoring systems, and devices for diabetes, cardiac rhythm, neurological, and urological applications. It explores the company's distribution channels, competitive pricing strategies, and promotional activities, including branding and customer relationship management. The report highlights Medtronic's research and development efforts, emphasizing innovation and differentiation, and discusses an action plan addressing employee loyalty and workspace environment. Ultimately, the report concludes that the marketing mix strategy is key to improving brand image, emphasizing the importance of the four Ps and R&D programs in Medtronic's success.

Running head: STRATEGIC MARKETING
STRATEGIC MARKETING
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Introduction
Heath care strategic marketing is the practice of enhancing the management system in
the context of providing a recognition of the usefulness of the product and its potential
services to a targeted customer base that contains diversified segmentation of the buyers.
The essay focuses on to provide an in-depth analysis of the strategic marketing of the
health care products that are recognized for its innovative features and advances
technological services in the arena of medical treatment. Following it, the paper facilitates a
wide view of Medtronics that involves variant technological devices ad applications utilized
in the procedures of medical treatment. The essay delivers the marketing mix of the product
and further discussions on the research and development programs of Medtronics along with
evaluative action plan following the discussed issues in the paper.
Marketing Mix
Product Medtronic is identified as one of the leading
global medical equipment manufacturers
that aims to cater in all healthcare sectors
with variant health care equipment that
includes technologies that supports the
advanced surgical methods, patient
monitoring, diabetes, cardiac rhythm,
Neurological ad Urological as well. The
innovative products of the Medtronic
facilitates the health care institutions and
hospital in improving the techniques or
procedures of the medical treatment

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globally (George & Kindred, 2013).
Medtronic further work in collaboration
with the shareholders in order to enhance
and retain the sustainability in the healthcare
sector.
Place In the context of distribution of the product,
Medtronic products are made available on
online medical ecommerce. The selling
procedures are conducted across segments
of products according to the buying
preferences and requirements. The sales
team of the Medtronic products aims to
provide accessibility of the product services
in medical and health care institutions
(George & Kindred, 2013). It further
benefits the products to pitch for any health
care business enterprises.
Price Medtronic is primarily identified as the
potential player in the dynamics of health
care technology. However, it still faces
certain issues that emerges out of the
competitive environment from General
Electric, Covidien, Philips, Zeiss, Baxter
and many more. Thereby, in such
competitive scenario, the product,

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Medtronic and its services followed a
competitive pricing in the sphere of
marketing mix. It is to mention that in the
diabetes sector, the services of Medtronic is
recorded to cost around $5600 (Carter,
2018). Thereby, the product price appears to
be more in most cases when compared to
the other competitors particularly due to its
market share and market penetration.
Promotion The advertising and promotional strategy of
Medtronic is potential enough to attain
favourable brand image. The branding and
promotional activities are majorly done
through billboards, digital communication
and strategies that are based on effective
communication marketing that enhances or
improves the brand image. The major
promotional activity is identified through
one of their major concerns that includes
building relationships with healthcare
institutions (George & Kindred, 2013). In
addition, the manufacturing unit or
organization focuses on to exercise
Customer Relationship Management.

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Medtronics primarily focus on satisfying the
essential requirements for the patients and
facilitates potential health care technologies.
The delivery system and the accessibility is
prompt enough. Thereby, the brand image
of the products happens to be improved
dynamically and extensively. The good and
the long term relationship that is maintained
with the potential buys or the segmented
customer base such as the medical
institution, hospitals and clinics, provides in
the gaining of increasing Customer Lifetime
Value. This further facilitates in the
increasing of the revenue of Medtronic at a
massive extent.
It is to mention that in order to provide high quality and cost effective medical
devices, and effective therapies to the patients , the organization aims to set its marketing
management team around the preferences of the physicians. Following it, Medtronics
converges towards buiding up specialized teams that helps the manufacturing unit or the
business organization create strong and sustainable relationships with the physicians. The aim
is set around the physician’s preferences as they have the ability to detect the primary health
issues of the patients following to which the business organization finds the opportunity to
sell products accordingly (Burns, 2012). The strategy therefore contributes effectively in the
growth of the overall healthcare business.

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Research and development strategy
Differentiation and Innovation are the two of the essential factors that determines the
success and growth of the health care business organization. It is witnessed hat Medtronic
spends $1.6 billion that accounts to 8.1% of the over all sales on the programs of Research
and Development sphere in fiscal 2015 (Carter, 2018). And the fact that Medtronic happens
to retain the recognition of being the most highly diversified variants of product portfolios in
the health care business industry. The platform strategy of the company has resulted to be
effective. As a result, the company retains the consistency in the sphere of developing
platforms with numerous parameters (Carter, 2018). However, the health care business
organization is suggested to work on the successful strategies in the context of entering into
the market of other countries (Carter, 2018). It is essential to develop the cross cultural
training in the management system so that customer relationship can be retained in the distant
countries or foreign countries.
Action plan and Conclusion
Though the organization is focused in marinating potential competitive environment
in the health care business market, yet it still requires to hold a potential strategies of human
resource management. As the company experiences a significant loss of the employees. The
issues affects the efficient production of the business. As it is revealed that lack of customer
loyalty, results in unfavourable production (Burns, 2012). It is the performance that needs to
be checked. Following it, the workspace environment of the organization is required to retain
integrity, loyalty and motivating spirit so that it further provides the favourable and potential
performance towards the production. Thereby, the action plan of the organization converged
towards addressing the issues to make the employees more loyalty.

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From the above discussion, it is concluded that the marketing mix strategy is the main
key factor that needs to be standardized first in order to improve brand image. The paper
discusses the four Ps of marketing mix strategy and discusses about the R & D programs.

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innovation and governance. Springer.
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innovation and governance. Springer.
George, B., & Kindred, N. (2013). Omar Ishrak, Building Medtronic Globally. Harvard
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