Product development is a strategy of growth that involves new product in market or goods and services. In this presentation of Product Development to determine the practice of Lexington Medical Center, Columbia South Carolina. Lexington Medical Center is a teaching hospital and also have a residency program. LMC is a 414 bed medical complex, 600 physicians, and 5,900 employees. The product development management system I have chosen is Levemir Flex-touch insulin pen.
Justify the purpose
Levemir flex-touch insulin pen is used to control high blood sugar in adults and child’s who are diabetics mellitus (Levemir, 2015). Many patients that use the Levemir Flex-touch insulin pen can calculate their dosage that is prescribed them very easily.
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The dosage of insulin is calculated from the level of the pen. The prevention of technology is to monitor blood glucose level. This insulin pen is a life changing insulin pen for diabetic patients. This insulin pen makes it much easier for diabetic patients use it, and for those who cannot see it’s a good product to help their life cycle change to use. The insulin pen is a self-service pen that you just turn the dial to set your dosages. This is an improvement and advantage since there are so many people live relates to impact their life from diabetic. Marketing mix The aim is to improve the strategy of implementing this product will benefit diabetic patients and it involves marketing in health care services for all diabetic patients. The marketing mix on this product bought choices for diabetic patients. This product benefits all diabetic patients who are type 2 diabetic. The marketing mix is price, placement, product and promotion are productively used in the market (CDC, 2011). Marketing mix that described integration of four fundamental marketer’s elements call the four Ps ':
• Product: the item, good or service that is being provided that delivers benefits to those who consume it; includes quality, packaging, design and brand
... is a technique that monitors the glucose level without the use of needles. Another type of therapy is the artificial pancreas. It combines glucose sensing and insulin delivery through a closed loop system. Mimicking the human pancreas, this therapy would register the blood glucose levels and in response deliver the right amount of insulin.
In the article “Diabetes Doesn’t Run My Life, ” by Tod Olson, it talks about how a girl named Mckenzie Jones has type one diabetes but doesn’t let it get in her way. In the text it shows how technology has made the lives of diabetics a lot easier . First off, science has made different technologies have been created to give insulin and read blood sugar. The article states, “Phone-sized pumps can push insulin into the body through a tiny tube placed under the skin. Scientists are also testing a skin patch not much bigger than the face of a watch that can monitor blood sugar levels minute by minute” (Olson 23). This shows, how technology has improved the life of diabetics because they make it so that they don’t have to give themselves multiple
The picture that I drew shows different methods of taking insulin such as the pump and the needle. In the middle I chose to use the “Canadian Diabetes Association” symbol to portray the idea that I am talking about the discovery of insulin. I also included Doctor Frederick Bantings signature to represent him as well as the University of Toronto crest, because Banting was a student there and it was where insulin was discovered. Another thing included in the picture was important years, such as 1923 the year Bantings won the Nobel Prize for his work in discovering insulin. As well as the year he was born and died located on the bottom of the 2 in the year 1923.
Type 1 diabetes is controlled with insulin injections several times a day or the use of an
1.Product: The product or service must be developed for the target market. In the airlines the product is not a physical item but services rendered. These services are not limited to but often include: Safety, timeliness (on-time arrivals and departures), convenience, in-flight services, and carrier’s image.
The business model for IDEO began as an open-minded place to design, develop and manufacture new products. The last 20 years of proven product design driven by innovation has translated into profit margins for their clients and continuous refinement for IDEO’s process. IDEO pioneered “concurrent engineering” where design and engineering work together to produce aesthetically pleasing products that are also highly functional. This was different from many other similar companies that placed more emphasis on the industrial design than the engineering. IDEO’s strengths grew out of the ability to master this ability with high tech clients. Corporations came to IDEO because they had a proven system of developing the best products through using their key ingredients for innovative strategy.
The development of short-acting insulin analogs that retain a monomeric or dimeric configuration is a major advance in insulin therapy. These analogs are absorbed more rapidly from subcutaneous sites than regular insulin. Consequently, there is a more rapid inscrease in plasma insulin concentration and an earlier response. Insulin analogs should be injected ≤15 minutes before a meal.
Contents Marketing Report for UnitedHealth Group (UHG) 2 Introduction 2 Executive Summary 2 Task.1 2 Marketing Process 2 Marketing Orientation 3 Micro and Macro Factors 3 Competitive Advantages 4 Distribution Channel and Process 5 Pricing Strategy 5 Promotional Tolls 6 Marketing Mix’s additional P’s 6 Marketing Products and Services to other businesses than customers 7 Difference between international marketing from domestic marketing 8 TASK 2 10 About the new product (Details) 10 Market Segmentation criteria for the product 10 Targeting strategy for the selected product 10 How buyer behavior affects marketing activities in different situations for the selected product 11 Positioning for the Selected Product 12 Marketing mixes for two different
Product is/are the products or services you offer and are they unique and different, superior in quality and easier to use. In my own opinion, the product or service is one the most important aspects of a successful business. If you have an item that the customer really wants they will drive out of their way to purchase it. They are usually willing to pay a higher price if the quality justifies it. When a local popular hamburger place open up in Phoenix, people drove long distances and sat in long lines just to bite into one of their juicy hamburgers.
Within 30 minutes of teaching lesson, the patient will be able to injection insulin properly. The patient will be able to perform self-monitoring of blood glucose using a blood gl...
Keeping blood glucose levels under control is crucial for diabetics and those who are insulin dependent will often times be required to test their levels four times per day. As of yet there is not a cure for diabetes, however, with modern technology monitoring diabetes is as simple as turning on a computer.
The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer. As companies start out in an industry, many marketers learn about putting the right product in the right place, at the right price, at the right t...
emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments. To evaluate customer satisfaction previous researches provide strong relationship between customer satisfaction and product quality, product features and value for money. ***
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
The term "product" refers to tangible, physical products as well as services. It also means defining the characteristics of your product or service to meet the customers' needs. AirAsia’s philosophy is girded by the fact that they have been seen as a small airline competitor for many years. Therefore, in order to win more customers and return customers, they need to ensure that their primary products and services are up to par and meet the defining needs of customers. AirAsia offered (product) tangible and (services) intangible good to increase the demand of customer. (AIR ASIA MARKETING PLAN, 2015)