3. An orthopedic group practice has decided to develop a pediatric sports medicine program. Identify potential target markets for this new service.
Potential target markets for this service would be in an inner city community that has a concentrated amount of middle/high school consumers with multiple athletic programs. Being in the inner city, potential consumers would typically resort to the emergency room, urgent care clinic, or a pediatrician.
Another potential target market could be a pediatric medical group with sub-specialties. The available specialties are endocrinology, psychology, and cardiology. Adolescent child tend to break bones frequently. Having a pediatric sports medicine department would be …show more content…
b. Barriers of entry could be hiring staff or trainers, providing showering facilities, a descent amount of work out space, and the purchasing of the work out equipment. Barriers of exit would be the lease agreements, obligations to loan, and lost costs.
c. A major entry barrier would be the hiring of specific physicians skilled solely in that area. Another barrier would be that the tertiary hospital most likely has a cardiac unit and it would be hard to convenience board members that another addition is needed. Exit barrier would also be lost cost.
5. Retin-A is a topical ointment originally developed for the treatment of severe cases of acne and related skin disorders. An observed side benefit resulting from use of this product is its beneficial effect on aging skin. If the manufacturer of this product decided to pursue the latter market, what type of growth strategy would it be pursuing?
They would do a market penetration to create more sales to existing customers. Typically children or adolescents have acne issues, but the product would work on the older generation with their aging skin. Market development will identify new markets for the product. Possibly women with wrinkles, crows feet, or other skin disorders.
2. What environmental