Introduction
To become a successful business, any organization has to develop a strong marketing plan. According to Westwood (2016), planning plays a crucial role in management by identifying promising business opportunities, clarifying possible threats, and recognizing the goals that have to be achieved. In this paper, a new business company will be introduced with its marketing plan and necessary elements and strategies with the help of which services and products can be strengthened. New Brain is a modern biotechnological organization for marketing analysis. Its distinctive feature is the creation of synthetic products (brains) for people who need them because of traumas, incurable diseases, or other important reasons. It is located in Seattle, one of the most populous cities in the United States, where people between 18 and 64 years live and work (“Office of planning & community development,” 2018). A floor in a business center around the Seattle Needle at 6th Avenue will be rented. In this marketing plan, the mission statement, functions, and goals of New Brain will be discussed through the prism of three approaches, including environmental analysis, SWOT analysis, and needs analysis.
Mission Statement
New Brain is a provocative business in the field of neurotechnology, the mission of which is to contribute to human well-being. There are many situations when people get traumas that are incompatible with life or experience surgeries during which unpredictable changes occur and make the brain stop working. In the United States, traumatic brain injury is one of the major causes of death or disability that takes about 155 people of any age daily (Centers for Disease Control and Prevention, 2019). This condition may be caused by different reasons, and its outcomes change the lives of not only patients but also their families and communities. Therefore, it is necessary to study the brain from all perspectives and create a valid synthetic product that makes it possible for a person to continue living after brain injury.
People say that the human brain is indispensable, and the company under analysis says that there is always another chance. Several centuries ago, people believed that it was impossible to live without a heart. In the modern world, everything changes, and there was a man who lived 555 days without that organ at all, waiting for a transplant (Howard, 2016). New Brain is a new opportunity to unite the best technologies, surgeons, and researchers to create a place where a person receives a new brain and continues living. “Our brain – Your life” is the mission statement of the New Brain Company that has to be introduced to the citizens of Seattle to demonstrate the recent progress and find another way to prolong human life.
Main Goals
The development of a new business in the United States is a challenging and complex process that requires much time and attention, as well as a number of efforts. New Brain enters the world of American business, having a solid experience in such spheres as technologies, research, and experimentation. To succeed in the establishing of a new way of a biotechnological business, New Brain sets certain short-term goals (to be achieved within the next year) and long-term goals (to be recognized and achieved within the next five years). Many organizations focus on their future and long-term goals and forget about minimal milestones that help not to lose the right direction. Therefore, in this marketing plan, the two types of goals must be identified, explained, and measured. In other words, New Brain should have specific, measurable, achievable, relevant, and time-bound goals, also known as SMART (Cheeks, 2018). All the employees have to be aware of them to make certain contributions and demonstrate high productivity.
Short-term goals for the New Brain Company that has to be achieved within the next year include:
- Inform the citizens of Seattle about the possibility to buy a new brain within the company (online and TV advertisement, distribution of brochures on streets, and random phone calls);
- Cooperate with local hospitals, healthcare facilities, and medical organizations and introduce the product as an alternative to patients (weekly visits with specific handouts);
- Create a website with 100 visits per day and increase the client database up to 100 people who are satisfied with the services offered (first-client sales, illustrative materials, and evidence);
- Invite ten new sponsors from different industries (direct communication and the introduction of credible material and statistics);
- Promote effective organizational culture, strengthen the managerial skills of employees, and improve product understanding (training, research, and experiments).
Long-term goals for the New Brain Company during the next five years incorporate the following tasks:
- Increase the client database up to 1000 clients from different states of America with high customer satisfaction levels;
- Reduce the mortality rate because of brain injuries in Seattle up to 50%;
- Promote product awareness around the United States and Europe;
- Offer solutions to all possible ethical and health concerns about the worth of new synthetic brains to the population;
- Demonstrate an increased employment rate in the company.
There are millions of people who can raise a number of questions about the quality of the offered product, its ethical appropriateness, and its overall impact on other fields like medicine, psychology, and economics. Despite these potential problems, the benefits and positive outcomes cannot be ignored. In the following table, the metrics to measure the goals of New Brain will be compared within the two different periods:
Environmental Analysis
An environmental analysis is a part of a marketing plan in terms of which a person can identify significant internal and external factors of the business development. It contains such elements as competitive, economic, political, legal, social, technological, and environmental forces and is also known as PESTLE (Perepa, 2017). All these factors may directly or indirectly influence the level of business performance and determine a new scale for a better market position. Taking into consideration the fact that New Brain offers a completely new product and services for the people of Seattle, it is necessary to concentrate on each factor and understand what threats and opportunities exist.
Political factors are based on the evaluation of the current political situation in the country, its global condition, and the potential effects of politicians and their policies on business. According to the recent government rules and standards, all organizations, regardless of their occupation and the quality of work, are obliged to file and pay taxes depending on the officially introduced incomes. There is an employer identification number (EIN) that identifies a company’s federal tax level and registers the organization in the country. New Brain has to pass through all the necessary procedures, hire employees legally, and prepare annual reports. The political environment also predetermines the possibility of the company to offer its services to a global arena (Perera, 2017). At this moment, the United States continues developing its relations with different countries, including those in Europe, Asia, Australia, and South America. New Brain should not have serious problems from the political point of view this year.
The economic situation includes factors like the inflation rate, the interest rate, unemployment, and foreign exchange. In the modern United States, many economic indicators remain normal with no dramatic changes or challenges. High-income levels among the citizens of Seattle as the place where the first office of New Brain will be located promote an opportunity to use the services of the company. In addition, literacy and education levels remain high in Seattle, and people can recognize the benefits of new brain creation and technologies. According to Perera (2017), when economic factors are favorable, the number of risks is decreased. New Brain can use the current economic success of the country and the chosen region and successfully introduce its services.
Social factors of the environmental analysis have to be clearly recognized as they show if people are ready for a new service and what attitudes towards this technological breakthrough can be observed. At this moment, Seattle faces a serious dilemma concerning the opportunities available to wealthy and poor citizens (Wen, 2016). Public health is a frequent topic for social debates in the city, and social factors usually improve or worsen human health, depending on the style of life, the place for living, and working conditions. New Brain can use the current social situation and support the idea of equal health for all the citizens to attract more credible sponsors and make sure that poor residents can use the service or, at least, find a good job. In other words, the social power of the environment analysis underlines the role of sponsorship for the company.
Technological forces influence the progress of the New Brain in several ways. Firstly, technologies can introduce the benefits in promoting new opportunities for the company to improve public awareness about synthetic brains. Website content, online search, and visual presentations help to explain the worth of this business. Secondly, technological progress is a core aspect of the work of the New Brain. Such an organ as the brain is hard to understand and thoroughly study. Still, the goal of the company is to reach the possible perfection and help people survive brain traumas, avoiding health changes and complications.
The legal aspect of the analysis includes employment and competitive regulations. An understanding of this type of environment varies from industry to industry, from company to company. In this case, New Brain has to study many regional and national laws, hire people accordingly, and provide customers with guarantees. Ethical norms must be followed along with human and civil rights and obligations. The company should not face problems in this particular field and offer the services in a legally approved way.
In this analysis, environmental factors may also be compared to competitive forces. New Brain is located in Seattle, where many medical experiments and investigations are promoted in different fields. The climate and weather conditions are favorable for this business development, but they do not have a serious impact because all the work and services are in specially equipped laboratories and offices. Competitors can hardly learn the details of production and contribution except for the information they find online. At the same time, a new idea may stay new only for some period of time, and New Brain has to be ready to compete and demonstrates its quality, high-level professionalism, and customer satisfaction.
SWOT and Needs Analyses
The discussion of New Brain’s strengths, weaknesses, opportunities, and threats are possible within the frames of a SWOT analysis. SWOT quadrants help a manager to identify the major aspects of the work of the company and choose the most important ones (Sarsby, 2016). The following scheme aims at defining the current situation in the company with its internal and external factors that influence the company’s progress.
A needs analysis is another form of evaluation with the help of which New Brain can achieve the desired progress and succeed in the US market. In this marketing plan, the needs of customers (society) and employees (company) have to be identified. People’s attitudes towards synthetic brains are hard to predict and change, and the need of the company is to work with feedback, surf the web, and communicate with citizens to explain the benefits of the product. At the same time, the needs of customers cannot be ignored. People understand that every product may have its defects, and New Brain should not strive for perfection but for understanding what potential clients want to receive. As a rule, these needs include hope, support, understanding, and more time to spend with each other.
Conclusion
It is hard to predict how people accept a new product and a new form of service. New Brain’s mission is based on recent progress, technological advances, and many years of research, practice, and information exchange. Brain death will not be the reason for a family to lose their member, for a mother to grieve for her son who got into an accident, or for a husband to say goodbye to his wife. This marketing plan is a good opportunity for the company to recognize its strong and weak aspects, as well as learn its internal and external threats and opportunities. The SWOT, PESTLE, and needs analyses to help to create a future image of the company in one and five years.
References
Centers for Disease Control and Prevention. (2019). Traumatic brain injury & concussion. Web.
Cheeks, A. (2018). How to write a business plan: The SMART way.Forbes. Web.
Howard, J. (2016). Man lives 555 days without a heart.CNN. Web.
Office of planning & community development. (2018). Web.
Perera, R. (2017). The PESTLE analysis. London, England: Nerdynaut.
Sarsby, A. (2016). SWOT analysis. London, UK: Spectaris.
Wen, L. S. (2016). How Seattle can address public-health inequities.The Seattle Times. Web.
Westwood, J. (2016). How to write a marketing plan (5th ed.). Philadelphia, PA: Kogan Page Publishers.