Monday, February 10, 2020

Strategy for Mega Bastard Corporation - Bionic Limbs Essay

Strategy for Mega Bastard Corporation - Bionic Limbs - Essay Example How fancy is that? The most important factors to consider in the introduction of bionic limbs is the strategic management variable involved in product and business development. Namely; Market entry, research and development, pricing, designing the product and competition prosthetic limbs producers. MBC will most probably benefit from a market segment of people interested in comic books, superhero movies and video games. The macro environment directly related to competition. DEKA is an example of prosthetic limb maker. They have made progress in making bionic arms, which basically gives MBC the advantage of differentiating their market segment to only limb/ legs bionic material. The market analysis will assume that MBC management has taken care of the approval process through the Food and Drug Administration body. MBC has two choices, either to enter the market or not to enter the bionic market. Now does not enter the bionic limbs market, then their competitors will obviously maintain the status quo and barely change the prices of bionic limbs. However, if MBC enters the market, then its potential competitors will definitely start a price war and that may affect the level of sales of bionic limbs. MBC will obviously be a credible threat to existing competitors in this monopolistic market as noted by Baines & Fill (2014). MBC already has the technology for making the bionic limbs, hence labour cost for the business and product development is greatly minimized and the only challenge will be for the management to identify a profitable market segment for their product. Getting a priced contract with competitors can always help MBC avoid any price wars that may emerge after they introduce their bionic limb. This is basically done by MBC paying a premium to a specific competitor and in exchange, the competition won’t start a price war against MBC. For MBC to effectively market the bionic limb, the product must be FDA approved in order to gain considerable favour even in the ‘villain’ market segment.  Ã‚  

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