Icore-Marketing Section

Broad-Spectrum Blood Monitoring Market Evaluation

When introducing our product, we decided to use the brand name Monitrol 40S by Accutech because it is positioned relatively cheaper when compared to our main competitor, Gold Crest. We did this to ensure that the Accutech brand name would not be diminished, while still sending a signal of quality to consumers due to the fact that the Monitrol 40S is a differentiated product. Below we propose a way to effectively communicate the Monitrol 40S brand message of convenience and quality through product positioning, the promotion mix, and pricing strategies.

Evaluating the Competition and Positioning Monitrol 40S

Accutech’s strong presence in the health product industry allows for the use of the Accutech brand equity to differentiate from competitors. Below is the relative market share over the past five years.

Table M1: Blood Monitoring Industry Relative Market Share

Being a strong industry leader, Accutech holds a relative market share of 2.04 in the blood chemistry monitoring industry as of 2012. As shown in Table M1, our relative market share has dropped from 3.056 to 2.04 since 2008. Although we have a substantially larger relative market share, our competitor Northern Labs has steadily increased their relative market share from 0.327 to 0.49 since 2008. Our other competitor, Bat Boy, had a slight increase in relative market share but dropped back down in 2012. By introducing the Monitrol 40S by Accutech, we could regain our diminishing relative market share by altering the competitive dynamics.

As mentioned in our strategic analysis, with diabetes rates and cholesterol levels rapidly growing in the United States, the number of individuals who need to be more health conscious has increased. The Monitrol 40S will be the most realistic approach to blood monitoring for users because of its convenient and portable design. Our main competitor Gold Crest, made by Northern Labs, has some advantages in features...