Product & Brand Management
Professor Dr. Sanjay Patro
Situation Analysis In the past 2 years V Scribes has diversified into two new streams of business namely Medical Billing and Market Analytics. Their core Medical transcription business has given them good growth in the initial years and is in the maturity stage with consolidations / acquisitions. Last year there was zero growth for V scribes in this line. The two new product lines are not giving returns as expected by the management. Medical billing is a forward integration business whereas Market Analytics is high end specialized sector Case Facts Small Firm in third tier, entered into this segment from chemicals in the initial phase of product life cycle. Enjoyed growth from repeat customers ( 62.5%), References ( 45%) and Associates ( 50% ). No other marketing activity (telemarketing, ads., Exhibitions & sales persons) gave them business. Entered Medical billing with a new brand name ( Vantage billing services ). All the product lines treated in same way. Problem Definition The Company is not getting expected business in the new product lines, their core product line is getting stagnant and people hired for new product lines are leaving. Reasons The Company’s growth in the Medical transcriptions came due to growth of market and timing, all the business came through without any marketing efforts for the business. With the similar approach the new product lines are introduced, which are in the matured phase of PLC. Medical billing which is a forward integration value added product line, introduced with different brand name. Customers will take time to accept a new brand. The employees (who have come from experienced companies) are seeing the difference ...