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Competitive Strategies, Business Model, and Marketing Strategies of an R&D-oriented Orthopedic Medical Device Company: The Case of Wiltrom Company
orthopaedic medical device,competitive strategy,business model,marketing strategy,minimally invasive medical device,innovative research and development,
|Publication Year :||2018|
The demand for orthopedic medical equipment grows as the global population majority shifts towards the elderly. The government has also started to focus on biomedical industry development in recent years. Due to its potential, it has become an important opportunity for the economic growth. However, many Taiwanese medical device companies enter the industry focusing on existing product sales. Investments in manufacturing improvement only happens after a stable distribution channel has been established with R&D coming last. It has the advantage of gaining profits quickly with the tradeoff of losing competitiveness in the long run due to lack of innovation. For medical device companies, maintaining competitive advantage along with the right marketing strategy is the critical to their long-term development. This study will use Wiltrom Co., Ltd. as an example to provide an in-depth analysis of the company's competitive advantages, business models, and marketing strategies. This study finds that strong research and development capability are the keys to the success of Wiltrom. Their innovative products provides competitive advantage to the company. In accordance with Porter’s differentiation strategy to allow them to enter the niche market. On the business mode front, having technology edge and patent protections allow it to have diverse partner portfolios and sources of revenue, including technology transfer and joint ventures with major international companies. This allows Wiltrom to acquire more resources to benefit long-term development. In terms of marketing strategy, Wiltrom adopt the strategy of leading marketing with R&D. They fused marketing campaigns with innovative corporate image to gradually increase market recognition and establish long-term trusting relationships with customers.This study will further explore how a R&D-driven company can achieve long-term development advantages. Along with the arguments and ideas presented in the paper, these findings can be references for follow-up studies in other R&D-based companies.
|Appears in Collections:||事業經營碩士在職學位學程|
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