Description
Question
Recommendation (500 words)
Present a marketing recommendation that directly addresses the identified challenges. Explain why this recommendation is essential and how it will help Proximie achieve its growth objectives. Use relevant frameworks to justify how the recommended strategy will support Proximie’s marketing goals and position the company effectively within its industry.
Solution
Recommendation
In order to respond to the identified Marketing challenges, Proximie should employ a Regionalised Marketing Strategy (Yeung, 2020). This approach entails customising marketing and partnerships as per particular geographic and economic regions, thereby making Proximie able to more effectively position itself in a competitive global healthcare landscape. This strategy can focus on various initiatives such as:
Customised Marketing Campaigns
The regionalised marketing strategy could focus on creating region-specific compelling marketing campaigns which aligns with local healthcare demands as well as cultural context. The segmentation of the market and its targeting and positioning can be done in Proximie by using STP (Segmentation, Targeting, Positioning) framework (Correia & Rodrigues, 2023). For example, in low resource countries such as the US, Proximie can focus on technology that is pioneering and outcomes that are proven with leading health institutions. On the contrary, for low and middle income countries the company should focus on the accessibility, and to carry on in low bandwidth. This approach solves the economic and social challenges pointed out earlier in the PESTLE analysis, which makes Proximie be relevant and valuable to different settings.
Strategic Partnerships
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- Enhanced Suppliers Performance- With an upward of 50,000 orders annually with 40% valued more than 5 million Omanis and 50% 20 Million Omanis, failure to timely settle invoices, demand for high quality materials and minimising effects would be considered.
- Cost savings- With improved SRM, it is possible for Oxy to negotiate appropriate terms, lower procurement costs (5 Rights not currently achieved) hence working below targets and lead times delivery reduced and achieving economies of scale.
- Increased efficiency- improved and streamlined SRM improve operational efficiency, reducing wastes in administration process for SRM (25% of entire suppliers pay delayed)
- Risk mitigation- this include identification of risks linked with suppliers such as dissatisfaction, financial instability and geopolitical challenges
- Oxy organisation PS&M is supposed to come up with appropriate systems and techniques for improvement of SRM
- Oxy organisation need to make sure they use various automations including AI and robotics for improving collaboration and SRM efficiency.
- Facilitate policies management for improving their operations in onshore and offshore operations with an improved SRM
- Short courses on SRM need to be provided starting with PS&M leadership to achieve 50% increase in awareness of SRM improvements areas.
- Stakeholders relations improved by leveraging on available technologies of communication and interaction.
- Ensure there is 70% increase in budget on SRM improvements