Spain is the country as a location for MediCorp’s expansion and create an international business plan that guides the company’s operations in that country and grows MediCorp’s business within the Drug Delivery Pump NAICS industry subsector. You will need to employ the Niche, Differentiator strategy to develop a strategy that examines MediCorp’s potential customers, business operations, financial projections, and implementation metrics. 

Now craft an international business plan that calls on you to devise a marketing strategy, develop financial projections, and create a strategy implementation plan for the company to market a new Drug Delivery Pump in Spain by relocating one or more activities from MediCorp’s value chain in the United States.

Step 1: Assess the Characteristics of MediCorp's Potential Customers in Spain

 To help with your analysis of the industry, you will need to identify the NAICS code for the industry subsector to which your Drug Delivery Pump  device belongs. Then, begin to develop a six- to seven-page marketing strategy for MediCorp.

As you begin your marketing strategy for MediCorp, first analyze the characteristics of the company’s potential customers in the new market and address the international cultural differences.

When you have assessed the characteristics of MediCorp's potential customers for your selected medical device in a country, continue to the next step, where you will work on expanding MediCorp’s product base in the selected country by accounting for MediCorp’s mode of entry.

You will incorporate your recommendations from Step 1 and Step 2 into a six- to seven-page marketing strategy.

Now that we know more about MediCorp’s potential customers, we need to examine some key attributes of the company to adequately prepare it for international expansion.

Include the following components in your marketing strategy:

• selection of new medical device for MediCorp to introduce in the selected country(Drug Delivery Pump-Spain)
• MediCorp's main competitors in your selected medical diagnostics devices industry in Spain.
• market and segment growth of your selected medical device over the next three years in Spain.
• Where does MediCorp add value as a way of gaining a competitive edge?
• Recommendation of relocation of one or more activities from MediCorp’s value chain in the United States to Spain, using Porter’s Value Chain analysis.
• the legal business entity to market the products in Spain (review Modes of Entry for help)
• impact of the country’s legal, ethical, and cultural standards on MediCorp’s operations in Spain (review Governance and Accountability for more information).

Step 3: Make Financial Projections in Spain.

As you continue to work on your international business plan prepare market share estimates for MediCorp’s  Drug Delivery Pump in Spain and revenue forecasts for the next three years.

This analysis will form a portion of your final international business plan. In the next step, you’ll examine another element of the business plan, strategy implementation.

Step 4: Prepare Strategy Implementation Plan

The next step is to specify the major factors to be tracked for strategy implementation using the four perspectives of the balanced scorecard: the learning and growth perspective, business process perspective, customer perspective, and financial perspective.

Next, you will combine your marketing strategy and your financial, governance, and implementation analysis into a final report.

Step 5: Complete Your Final Business Plan

INBOX: 1 New Message

Subject:    Final Business Plan

From:        Jillian Best, CEO, MCS

To:             You

It’s been a pleasure working with you on this project. I’m looking forward to seeing the final deliverables.

The international business plan should be 10–12 pages, excluding cover page, executive summary, reference list, and appendices. Any tables, graphs, and figures should be included as appendices. Your plan should have one-inch margins and be double spaced in 12-point Times New Roman font. In-text citations and references should abide by APA format. The plan should be organized using headings and subheadings to improve its readability.

Your final international business plan should include the components outlined in the international business plan template.

Congrats!

Jillian

Your final international business plan should include key findings from your marketing strategy (Steps 1–2) and financial projections and strategy implementation (Steps 3–4). It should also include an executive summary

Memo: Please use this template

1. Title page

   • states the client organization, selected country, the client's product, type of legal structure, and the alliance partner

   • date submitted

   • your name

   • course title, course and section number

   • professor’s name

2. Table of contents

   • page numbers for each major section

3. Executive summary

   • summarizes the results of your analysis and how you arrived at the recommendation

   • belongs on a separate page from the introduction to the report

   • Start your executive summary as follows: “Business Plan for [selected client organization] to enter [selected country] $(size of market in US Dollars) market for [product/service] through a [type of legal structure] with [selected alliance partner].”

4. Introduction (first page of report body)

   • states the purpose of the report

   • explains what the report will do

   • introduces the industry, country, and client's name

5. Marketing strategy

   • market analysis

   • characteristics of potential customers in the country

6. Governance and CSR

7. Financial projections

8. Strategy implementation

9. Conclusion

   • Summary of the recommendations and rationale

10. Reference

    • APA-style reference page

11. Appendices

    • if needed