Answer To: 1. Mark value. This examination is worth 50% of your total assessment for this subject.2. Questions....
Moumita answered on Jul 02 2021
Running Head: Management 1
Management 3
MANAGEMENT
Table of Contents
Introduction 2
Answer to question 1B 2
The benefit of the product 2
Successability of the product in the market entries strategy of the company 3
Marketing meets 4ps 4
Answer to question 2 5
Project risk 5
Risk management strategy 7
Management of stakeholders 8
Answer to question 3 9
The way by which Project Manager could have improved 9
The scoping for the project 9
The decision making for the project 10
The establishment of deliverables for the project 10
References 10
Introduction
This report addresses three questions from different sectors. However, the first question addresses a short brief description of an innovative product and its marketing assessment. It provides several pieces of information on the field of market entry strategy and four principal values of the business that affect any new business. However, the second question addresses the risk factors of a project manager who will deal with the risk factor of mission mars. Moreover, this question shed light on the solution factors that can help the project manager to resolve the entire challenging issue related to mars mission in 2050. The third question related to a video clip including some questions.
Answer to question 1B
The benefit of the product
I am the owner of “Alpha design tech.” that deals with medical commodities. However, the company has launched a new and advanced medical respiratory for the provisional patient. The prior motive of this company is to provide a cheap rate for a provisional patent so that they can afford the expenses of the ventilator. It has been observed that the country has evolved it to create an innovative design in its new product that can gain more attention to a provisional patient who is desired to avoid a long-term expenditure (Gilmartin & Melzer, 2019). The company that helps patients to reduce their medical expenditure has approached a prototype device. This new innovative ventilator has designed such a way that it can put more effort to exchange gas in the human body. The goal of this innovation is to reduce the rate of lungs injury or infection. It has included such an advanced level of technology that helps patients reduce the power of breathing. Similarly, it helps to minimize the power of respiratory and its pressure. However, new technology such as Adaptive Support ventilation approaches through this technology. On the other hand, this ventilator has approached by simulation and optical target schemes that help to provide an advanced level of ventilation for a provisional patient who is unable to bear long-term medical experiences due to their illness (Doheir, Hussin, Basari & Elzamly, 2018). At the same time, the scheme of optical targeting helps to reduce product cost of this technology as it refers to the proper pattern of ventilation that helps to provide a low cast respiratory system for the provisional patient (Davies & Tavakoli, 2017). In this case, this advanced and innovative ventilator helps patients to exchange extra oxygen into the lungs through the breathing tube (. The company has approached mechanical ventilators for the critical patient so that they get better treatment at low cost.
Successability of the product in the market entries strategy of the company
The marketing management of Alpha design tech would like to approach a suitable and appropriate market entry strategy. It will help the company to set up a good relationship with its venture organisation. However, to attract its venture organisation they will include a clear business goal that acknowledges them to detailed information of their upcoming business plan to gain money. Moreover, they planned to provide an advanced level of a ventilator to the provisional patients at low cost. It would help them to target a huge market in the health care system (Ginter, Duncan & Swayne, 2018). On the other hand, the market management of the organisation will go through detailed market observation. The will have an approach for online market research through providing a detailed description of an innovative ventilator that company addresses for the provisional patients. At the same time, the company will go through the search of the direct market before they enter the market with their commodity. To accomplish through market research the marketing management of the organisation will expose their trade shows. It will also help to attract the venture organisation towards their innovative products. At the same time, the marketing managers of the organisation will identify the competitive factors that could affect the product they desire to launch in the market soon for the provisional patient. However, this market research will help the marketing management of the organisation to achieve competitive learning. At the same time, detailed and thorough market research will help marketing managers of the organisation to understand the political, social and cultural aspects (Gilmartin & Melzer, 2019). It will help them to realize the potentiality of the market for their innovative ventilators. However, through detailed market research, the marketing manager of the organisation will go through a suitable and appropriate distribution channel for the new product addresses by the organisation.
The marketing managers of the organisation will focus on a suitable competitive analysis after through complete market research. It will help them to find out the way of targeting their market. At the same time, this targeting market will help them to attend a suitable and appropriate decision related to their product. For example, the competitive analysis will help the management to take any decision to modify any strategy for the product. Apart from this, the marketing manager of the organisation will focus on the selection of mode before they enter into the market with this new commodity. At the same time, the company will get insurance for this new respiratory system (Buchbinder, Shanks & Kite, 2019). It will help them to secure upcoming risks or losses for the sake of this new product. On the other hand, the marketing manager of the organisation will pay attention to offer credit insurance. However, it will help the organisation to prevent the issues of cash flow during the payment procedure of the provisional patient. Moreover, the management will focus on the arrangement of documents that will enlighten the entire factors into the blueprint. It will help Alpha design tech to attract the attention of their venture organisation. However, this document will provide a detailed entry strategy of Alpha design tech to its venture organisation.
Marketing meets 4ps
Product
The Alpha design tech addresses an innovative and advanced level of ventilator system for the provisional patient who is looking for a low-cost medical care service. The company focuses on the quality service of the product so that it can help the provisional patient to reduce their medical bill due to lung injury. However, the product will include the mechanical ventilator and targeting scheme that helps to reduce the production cost of the product (Doheir, Hussin, Basari & Elzamly, 2018). It helps by providing external oxygen to the lungs through a breathing tube. However, patients can resolve their lung injury effectively. Similarly, it will be beneficial for the provisional patient.
Price
The company will approach a low-cost strategy for its new ventilator. However, the product is included with an optimal scheme of targeting that will help the product to reduce the product cost. However, it helps the management to fix their price strategy by a lower rate. It will help the organisation to grab their target market (Cherry & Jacob, 2016). At the same time, the real and persuasive value of their product will also be underlying the pricing strategy of the organisation. The marketing management of the Alpha design...