Research On International Marketing Strategy Of HM Medical Device Company

According to the estimation from Kalorama Information Agency,the world's medical device market will continue to maintain rapid development with around 8%growth rate.But in January to October in year 2016,China's medical equipment foreign trade grew only by 1.76%year on year and exports the amount fell by 2.82%year on year.The reasons resulting in this trade situation mainly focus on the big gap in product innovation and quality control between China and the international advanced technical level.Currently the majority of Chinese private medical equipment business is still in the "small scattered" state,which is difficult to gain a competitive advantage in the international trade thus the strength is urgently needed to be further enhanced.The objective of this paper is HM Medical Devices,Inc.,Hereinafter referred to be as the "HM Medical".It is an small-medium sized enterprises independently developing anesthesia video laryngoscope.Through more than two years of relentless product developing and one year of international marketing efforts,the products gradually meet the clinical requirements,and now in the transition from the marketing introduction to growing stage.In the international laryngoscope market,in addition to the traditional fiber optic laryngoscope,the revolutionary products of video laryngoscope and flexible laryngoscope have been launched successively based on rapid development of the interrelated supporting medical equipment industries such as minimally invasive surgical instruments,imaging systems,cold light source,modern electronics,software technology,etc.Currently the international market is with fierce competition that the overseas strong competitive brands commit continuous update on new technologies and new materials application as well as clinical practice to keep technical innovation advantages.Plus the first-mover advantage,those strong brands can early enter the market and establish sales network,occupying a larger market share utilizing their good capital and marketing channel advantages.Whereas most Chinese laryngoscope manufacturers,including HM medical,are small scaled,started late with imitation-based development at early stage,less technological strength,poor product performance and low market share.How to eventually achieve good market share for HM Medical and enhance its international competitiveness by integrating the company's resources,finding the proper international market segments and taking a reasonable marketing policy under the international complicated competitive environment dominated by overseas strong brands,has become the main subject of this study.The estimated international laryngoscope market demand is firstly analyzed by primary data from face-to-face communication with overseas dealers and medical experts,as well as secondary data from Chinese Customs import and export records.According to HM Medical's current international market positioning and marketing mix status and problems,the necessity of optimizing its international marketing strategy is put forward.In the deduction process,it adopts step-by-step evolving thinking way.First of all,by analyzing the macro overall environment of international laryngoscope industry,the medium industry competition environment and the micro market competition environment,it is to figure out the competition intensity of the international laryngoscopy market and to propose the necessity and urgency for HM Medical to conduct market segmentation.And then according to STP theory it is to work on international market segmentation,target market selection and competitive strategy positioning.Based on the above competitive environment analysis and market positioning,it is to propose 4P marketing mix strategy.Finally,it is to conclude this paper,and puts forward relevant policy suggestions to government and industry organizations,as well as shortcomings and future prospects.