EXAMINING 4A'S MARKETING FRAMEWORK FOR MARKETING STRATEGY PROPOSAL OF MEDICAL DEVICE PRODUCT TO INCREASE MARKET SHARE: A CASE STUDY OF PT MEDTRONIC INDONESIA

• Main Author: Anugerah, Damairia
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/85877
• Institution: Institut Teknologi Bandung

The medical device industry is one of the industries which continuously grows in recent years. It serves a board range of therapy to treat many diseases. Medtronic is a global leading medical device company which has its subsidiary in Indonesia named PT Medtronic Indonesia. As part of the fastest growing business in the cardiovascular group, radio frequency ablation (RFA) growth by 108% in FY21 and 48% in FY22. This research aims to focus on the marketing strategy and business model innovation to increase the market share of radiofrequency therapy for varicose vein treatment. The framework used in internal analysis tools are VRIO, stakeholder analysis, and STP. In the external analysis the author uses PESTEL, Porter 5 Forces, and Competitor / Benchmarking Analysis as the frameworks. The validation is using two tools: the 4A’s Market Framework that aims to formulate the marketing strategy and the Business Model Canvas to form the proposal of business model innovation. This study is using qualitative methods. The primary data is gathered using in-depth interview involving several stakeholders which are internal and external respondent including physician, hospital management personnel, business unit leader, channel manager, and training and education. The data being analysed by using thematic analysis. In this research, the author utilize NVivo 14 as the qualitative data analysis software. The secondary data are collected through previous journal, articles, and book reference. The research findings are the highest gap based on the 4A’s framework are affordability for the short term mitigation and awareness as the mid to long term strategy. Therefore, the marketing initiatives will be focusing on those aspect. The business model innovation findings in this study is to change the business model to 4PL approach due to its impact to the longer term strategy as well as the financial performance impact.