Situation Analysis
This section of the marketing plan will incorporate multiple aspects which will start by assessing the company background, the product being offered and the major advantage the company can attain. Secondly, the customer analysis will be conducted to identify the target segments while the industry analysis will highlight the major forces that reflect the strategy and identifying the major competitors. The context, the collaborators, and the market potential will be identified in this section and the external and internal analysis for the company will be conducted.
Company Background
SaskTel is one of the most eminent communication providers located in Saskatchewan and holds the market leadership in providing full service communication and operate as a wholly owned subsidiary. The company has around $1.2 billion in annual revenues with the customer base is expected to reach the 1.5 million mark in the various segments the company is competing. The company is offering a variety of products and services in Canada that caters aspects like service monitoring, messaging, wireless data and directory services, entertainment, security monitoring, etc. however, globally the company also offers services in project consulting and software. The major and the most prominent product offered by the company is LifeStat which is a health monitoring system and enable customers to manage their health and monitor their health condition efficiently. The customers can easily access data like blood pressure, weight, and blood glucose leveraging this device from anywhere residing in their comfort.
Thus the data gathered is transmitted to the secure data center of SaskTel leveraging the Bluetooth technology, which enables the health professionals to review the condition of the client and respond immediately. The Tele-Health Access Center is responsible to manage this whole situation and in case of an immediate response the nurses in the center are supposed to conduct a video consultation session where the client can be monitored directly in a video consultation.
This product gives multiple benefits to the customers and allows them to attain feasibility in consulting a doctor and save travel time. An immediate response from the health professional enables a quick and efficient recovery. The product has a major point of differences and the initial tests of the product indicate that the product is ready to launch.
Customer Analysis
There are two types of customer segments that the product will be targeted and are the major beneficiaries of the product. These two target segments of customer groups are described below.
Diabetics
The product will allow the people suffering from diabetes to monitor and control their blood glucose level and can consult their doctors on a timely basis. There are two types of diabetes the patients usually suffer from which are when the enough insulin is not being produced by the pancreas or the insulin produced by the pancreas is not properly used by the pancreas. The product will help the both segments and the target segment has huge potential and is being supported by the Diabetes Association of Canada as well.
Hypertension
The patients that suffer from high blood pressure issues that result in strokes are suffering from hypertension, which is why Life Stat will enable the customers to keep a check on their blood pressure regularly in order to avoid such situation. The measure of the blood pressure is the force that is generated by the blood against the blood vessels or the walls surrounding them, however, the occurrence of high blood pressure is identified when the readings reach 140/190 mm Hg mark or high consistently. Therefore, this device will help in solving this issue by identifying the issue at initial stages and receiving proper consultation.
SaskTel Marketing Plan Case Solution
Industry Analysis
Porter’s Five Forces
Bargaining Power of Buyers
Since the product is a specialized product which is being purchased on special recommendation or suggestion from the doctor and it performs a specialized function which is why the consumers show less resistance in bargaining. Overall the bargaining power is low from the consumer end due to the fact that the availability is very low and not many players in the industry are providing a product with the same feature. Secondly, the switching cost is almost invisible, which is why the consumers are not allowed to bargain.
Bargaining Power of Suppliers
Specialization is the key in developing such products, which is why the suppliers in the industry take full leverage of the expertise and bargain high...........
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