Marketing and New Technology

Topics: Marketing, Physician, Product management Pages: 3 (777 words) Published: February 6, 2011
Complication:
Crescordia is at a crossroads, trying to decide whether or not to adopt the disposable fixation device. This question has come about due to their market share erosion, as the company currently does not offer a resorbable product line. Innostat offers a resorbable product (albeit, in the early stages of development) and gaining market share in both product lines. The decision of whether or not to enter the resorbables market now is a crucial question we should address. This decision will not only impact the current line of business but also the well being of the company as a whole in the future.

Resolution:
Crescordia needs to enter the resorbables market in order to stay afloat due to the fact that the current fixation device industry is shifting towards this new technology. The segment of the resorbables market that we should dive into should be the pediatrics sector. Typically, the pediatrics market has been viewed as a taboo market to experiment in, however the benefits of successfully operating with resorbables is valued very highly by the child patients, the doctors, and the industry as a whole. This market, if entered correctly, has a potential to have an extremely high return. To begin with, the customers of the resorbables are already demanding the products from the manufacturers. The doctors literally are asking the CEO when this product will be available to use in surgeries. The demand thus far has been unmet, and this creates a huge opportunity for Crescordia. Additionally, doctors would prefer to buy all of their products from one supplier; thereby having resorbables in the product offering will help Crescordia entice purchases. On an ethical level, if children can avoid having two surgeries to correct one injury, this is also seen as an achievement and will be highly regarded by doctors (as well as patient’s parents). That being said, testing products on children opens Crescordia up for many potential lawsuits. This...
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