Medtronic Diabetes 1 Page Business Plan
Overview
MPC has a clear business objective to increase the sales of Medtronic Diabetes Insulin pumps and CGMS products. These products sales have been established and is increasing over 3 years with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to grow revenue. Rapid revenue growth is considered the most critical and measurable business goal. At this stage of our development, we consider this to be more important than profitability growth, although both are important long term objectives.
The Customer
While selling Medtronic Diabetes products, a clear focus on the needs of end users and patients is applied. Through a structured customer discovery process, we have validated the key customer problem as identifying Type 1 Diabetic patients. This is a critical issue for our selected target market of Hospitals.
The Value Proposition
Veo pumps, IPRO2 and their consumables are uniquely positioned to deliver value to Hospitals. "Medtronic Diabetes will improve the quality of life of diabetic patients." In order to deliver on this value proposition, we are offering the Sensor based technology. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Insulin pump and CGMS market. We consider our key competitor to be: Roche. Our understanding of this competitor has been used to refine our strategy and value proposition. We believe that we can compete effectively with Roch by highlighting the advantages of the higher quality pumps, robust end user education, and trust in Medtronic technologies.
Key Strategies
Over the next 1 month our focus will be to appoint and train a call center coordinator and a sales specialist. This task will be undertaken in the context of our broader strategy to Increase the Veo pump, IPRO CGMS, and consumables sales. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 10 months are: Increase patients awareness, ensure continuous successful relation with endocrinologists and diabetes educators, and Capitalize on the install bases by increasing pumps and consumables consumption
About this document
Insulin pump and CGMS Business Plan
This document was created by Amjad of Medtronic Diabetes using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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