S.W.O.T Analysis/Martkeing Plan for Vnus

S.w.o.t analysis/Martkeing plan for VNUS Technologies

VNUS Medical Technologies

VNUS Medical Technologies is a provider of medical items that strives to cure the venous reflux disease, with the final result of reducing or curing varicose veins. Their main product, the Closure system, has been present in the market for over a decade and it has since then improved the lives of over 50,000 individuals. At this time, a question is being posed relative to the introduction of the Closure system onto new markets. Before making such an attempt, it would be useful to conduct a SWOT analysis.

Internal strengths

The company has been present within the market since 1998 and has been quickly cleared for marketing; it increased its presence in the global arena and, despite internationalized economic problems, it managed to register positive increases in its financial results for 2009 comparative to 2008

The characteristics of the product, namely the ease of usage and the fact that it implies a minimally invasive procedure, constitute strong points in favor of the company

The organization maintains open and constant communications with the customer base and makes intense efforts to clearly explain the disease, its mechanisms and the way in which the Closure system works to fix the problem

Internal weaknesses

The VNUS Medical Technologies retrieves its revenues from the distribution of their main product, the Closure system; this virtually means that the company is highly sensitive to changes in the way the people perceive and treat varicose veins, new technological innovations and virtually everything which might impact the demand for the Closure system. In economic terms, the business operations at VNUS are not diversified, meaning that investing in the venture is a risky endeavor; had the company also sold other items, it operations would have been better diversified and the risks of VNUS would have significantly decreased

External opportunities

The medical insurance companies in the United States, as well as those in most European States, included the procedure on the list of covered operations, meaning then that the access of the population to the procedure is increased

The demand for the Closure system, as the best alternative to curing varicose veins, would increase in the immediate future due to the aging of the population, especially the baby boomers, in a context in which age is a higher risk for varicose veins. And California is recognized for its large numbers of senior citizens, all which could increase the demand for the Closure system.

The risk of varicose veins increases with obesity and sedentary, and sadly enough, in a context of incremental obesity problems and a growing sedentary population, the demand for the Closure system would also increase

External threats

In these times of economic hardship, more and more people lose their jobs and become as such unable to pay for their medical insurance; this virtually means that they will not afford to have the procedure done

The demand for the Closure system is also reduced on the part of the still working employees. The internationalized economic crisis has placed more pressure on the working individual, who strives harder than ever to maintain his position -- this means that he will neglect health problems and will only go to the doctor and have a procedure done only when this is absolutely imperative.

Having identified the most important components of the internal and external environments, it is now necessary to lay on them in the creation of an adequate marketing plan to penetrating Central Florida. In this order of ideas, the marketing strategy to be developed should be constructed on the following:

It should identify the needs of the customer base, in this case the necessity to cure varicose veins, and should emphasize on the problems they generate to the consumer. In other words, the marketing campaign should begin by recognizing the necessities of consumers, and then continue with presenting the Closure system as the most adequate response to solving the problems of the consumers. At this stage of the process, it is imperative to identify with the customers, understand their pains and then introduce the company's product as the salvaging solution.

The next step in the marketing campaign is that of emphasizing the attributes of the Closure system. The consumer would be informed that the Closure procedure lasts an estimated 30 minutes, involves a minimum risk of complications and is minimally invasive. Promoting the benefits of the product is imperative to letting the audience become convinced that the Closure system is in fact the best solution to their problem; and that, aside from solving the core issue, it can do this in a means that is superior to that offered by alternatives.

The third thing to be included in addressing the customer base is that of presenting testimonials from people who used the Closure procedure in the past and can now vouch for its benefits. The company would generally call on past customers and ask them to give their testimonials on camera, so that they can be included in video commercials, and in writing, so that they can be integrated on the company website, in pamphlets, fliers or other means of communicating with the audience. The usage of testimonials form satisfied customers will further enhance the desire of prospective clients to cure their varicose veins with the Closure system, as they will see and hear how easy the procedures has been and what great results it retrieved.

Related to testimonials, it is also advisable to include those of medical doctors which worked with the Closure system in the past, have become convinced of its utility, and can now vouch for it. Hearing a medical doctor praise and recommend the system will help the customers make up their minds in favor of the Closure system. Following this line of thoughts, it could be useful to include the testimonials of IT specialists, vouching for the innovative and useful characteristics of the Closure technologies. What should however be remembered is that all testimonials should be brief and concise, so that they do not bore the audience.

Finally, the campaigns should address and answer any potential concerns or objections on the part of the consumer. An example of a question that could be found in the people's thoughts refers to the costs of the procedure. Since the VNUS Medical Technologies proposes an innovative, non-traditional way of curing varicose veins, what are the costs? The consumer might wonder if the basic medical insurance will cover the costs. And since this is the case in the United States, the marketing campaign should, beyond any doubt, state that the procedure is covered by medical insurance and it would not generate additional costs for the patient or the medical facility.

Assuming that the marketing campaign is constructed on the principles above, it is now important to consider some aspects of implementing the campaign, which would generically constitute of video, audio and written advertisements, promotions and demonstrations and communications with the public. Below are some points to be considered: