USA: +1(669)289-8683 
Sign in
Required Readings
Chapter 15
Lancaster, G., & Massingham, L. (2018). Essentials of marketing management (2nd ed.). Routledge
http://ezproxy.umgc.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=1581263&site=ehost-live&scope=site
The final component of your marketing plan is a
breakeven analysis
report that also includes a schedule for implementation, any needed control measures, and a contingency plan.
Present your breakeven analysis in a table that includes the following details about your client:
- forecasted total number of units sold (for a service industry, products could be service contracts or the number of customers served)
- forecasted average unit price (AUP)
- forecasted total sales (in US dollars)
- forecasted average unit variable cost
- forecasted fixed cost
- breakeven point (units)
- breakeven point (in US dollars)
Read about breakeven analysis to assist your calculations.
In addition, use the following guidelines as you develop your implementation, controls, and contingency plan:
- Decide on the team that is going to implement the plan.
- Determine the time frame for implementation.
- Secure the financial and human resources needed.
- Distribute the tasks among team members.
- Periodically check and communicate performance against the marketing plan metrics (benchmarks) to ensure that implementation is on track.
- Make changes if there are any deviations from the key performance indicators (KPIs) for those metrics, preferably using a dashboard. KPIs may include the number of sales calls, the number of new customers, sales, profitability, growth, etc.
- Contingency plans should deal with severe deviations from productions plans, sales figures, market share, profitability, changes in government regulations (e.g., increased taxation), and drastic competitors’ moves (e.g., launching a competing product or service or an offering that may render your offering obsolete or less attractive to the market).
Deliverable: Early in Week 10 submit a report that explains your breakeven analysis. Also, include a table at the end of the report that highlights your financials. In addition, explain your schedule for implementation as well as the controls you intend to put in place and how you intend to proceed when your benchmarks are not met (contingency plan).
Your breakeven analysis and implementation report should be three pages, excluding cover page, the reference list, and appendices. Your report should have one-inch margins and be double spaced in 12-point Times New Roman font. The report should be organized using headings and subheadings to improve its readability.
Support your work with scholarly sources and reliable nonscholarly sources such as Reuters, Bloomberg, Yahoo! Finance, Barrons.com, Morningstar.com, Money, Forbes, Fortune, Financial Times, Wall Street Journal, and Harvard Business Review, as well as the UMGC Library databases such as Hoover’s and ABI/INFORM. All sources need to be cited using APA formatting, both within the text and in the reference list.
2
Final Marketing Plan
University of Maryland Global Campus
MBA 640: Innovation Through Marketing and Technology
Dr. Gyongyi Konyu-Fogel
Date
Table of Contents
1. Executive Summary
2. Situation Analysis
2.1 Mission
2.2 Product or service description
2.3 Value proposition
2.4 Internal environment scan (SWOT analysis)
2.5 External environment scan (PESTEL & Porter’s five forces analyses)
2.6 Critical issues
3. Market Analysis
3.1 Marketing research
3.2 Market size and growth
3.3 Market trends
3.4 Customer analysis (including needs analysis)
4. Strategic Analysis
4.1 Marketing objectives (including financial objectives)
4.2 Market segments
4.3 Target market
4.4 Positioning strategy
4.5 Product and branding strategy
4.6 Pricing strategy
4.7 Distribution and supply chain strategy
4.8 Integrated marketing communications strategy
5. Financial Analysis
5.1 Breakeven analysis
5.2 Sales forecast
5.3 Expense forecast
6. Implementation, Controls, And Contingency Plan
6.1 Implementation
6.2 Controls
6.3 Contingency plans
Appendices
References
Executive Summary
Situation Analysis
Siemens Healthineers is a medical technology firm which manufactures and sells diagnostic and therapeutic machinery primarily to clinics, laboratories, universities, and other business organizations. The company also provides assistive services to its clientele, including consulting, design, maintenance, and educational services. Siemens Healthineers has contracted this team to develop a marketing plan to help the company increase its sales to other businesses in the United States, in service of its primary goal of increasing revenue.
2.1 Mission
Per its website, the mission of Siemens Healthineers is to “pioneer breakthroughs in healthcare. For everyone. Everywhere. Sustainably.” Company materials expand on that concept, explaining that approximately three billion people, nearly half the Earth’s population, lack access to modern healthcare, and therefore many are suffering from curable illnesses; Siemens Healthineers’ vision is to rectify that, ensuring that every human being has access to high-quality, curated healthcare. The company’s strategy for addressing this problem consists of developing a broad-scale system of solutions to each of the factors which individually limit healthcare access, including technological, infrastructure, geographical, and workforce-related factors, in addition to the rising challenges in access caused by extreme weather events related to climate change. In service of these goals, the company works to develop an internal culture of inclusivity, openness and transparency, and respect toward environmental sustainability; it also values being at the leading edge of product innovation.
2.2 Product or Service Description
Siemens Healthineers designs, manufactures, and distributes innovative technologies in the areas of medical imaging, laboratory diagnostics, and point-of-care testing (Products & Services). Its medical imaging products aid healthcare providers in early detections, increasing the chances of complete recovery, potentially enabling prevention, and reducing healthcare costs at both the system and patient levels.
The company also provides services associated with the products it sells, including training, machine maintenance, and optimization consulting. Services offered by the company are divided into three categories: service plans, which are offered as an optional add-on to medical equipment purchases, and include educational services, IT support, and performance plans; connect platforms and smart enablers, which allow customers to connect to digital platforms maintained by Siemens Healthineers, known as Connect Platforms, in order to access service experts, equipment information, and supportive education with technologies that expedite service delivery to the most efficient degree possible; and “up” services, which are designed to sustain the quality and usefulness of the machinery, and provide remote technical assistance from live equipment and technical application experts.
2.3 Value Proposition
The company’s 2023 annual report describes its value as follows: “With holistic system competence, we develop, manufacture, and sell a diverse range of innovative diagnostic and therapeutic products and services… this comprehensive portfolio supports customers along the entire care continuum, from prevention and early detection through to diagnosis, treatment, and follow-up care.” (Annual Report 2023). The company provides value to its customers by constantly innovating, introducing advanced medical technologies which predict and solve the problems faced by its clients and their patients; it distinguishes itself from competitors by offering its expertise in the form of services connected to the entire patient life cycle, from prevention and detection onward. Customers have constant access to the company and its specially crafted set of services from the time they purchase a set of equipment, providing convenience, comfort, and improved patient outcomes. The company also offers tailored solutions individualized to customer needs based on the market in which the customer is located.
Internal Conditions
Siemens is headquartered in Erlangen, Bayern, Germany, and has operations across the Americas, Europe, Australia, the Middle East, and parts of Africa. The company sells medical diagnostic and therapeutic technologies, which primarily include “medical imaging, ultrasound, point-of-care testing, healthcare IT, clinical specialties and consulting, and laboratory diagnostics systems and devices”; the company also provides “consulting, design, maintenance, operational management, training, and education services” to its business clients (Siemens Healthineers Course Resource). The company’s operations comprise four distinct segments: imaging, diagnostics, Varian (a subunit of the company focused exclusively on oncological servicing), and advanced technologies (Annual Report 2023).
In 2023, the company’s overall revenue was 21,680 million USD, and its revenue from operations which took place in the Americas was 8,863 million USD (Annual Report 2023). Total current assets at the end of the 2023 fiscal year were listed at 1,115 million USD. At the time of publication of the 2023 Annual Report, the company employed just over 71,000 employees, as compared to the previous year’s 69,500, and held just over 75% of its own shares, the same percentage as in both of the previous two years.
Production and product development primarily take place in the United States, Germany, China, India, Great Britain, and Slovakia, and the company maintains sales operations in upwards of 70 countries, with corporate purchasers in over 180 countries. The company’s manufacturing and operations facilities are comprised of both company-owned sites, such as its new MRI-processing facility in Oxford, England, as well as those in Germany and India (Taylor, 2024), and leased sites, several of which the company operates in Delaware, USA (Medical Technology Leader, 2021). The company sources its raw materials from global supplying partners, and its procurement process heavily prioritizes sustainability, the circular economy, and respect to diversity and human rights (Sustainability); highlighted suppliers include ATTL Advanced Materials Co. Ltd. (headquartered in Beijing, China), the Sanmina Corporation (California, USA), Thermo Fisher Scientific, Inc. (Massachusetts, USA), and Wurth Industrie Service GmbH & Co. KG (Baden-Württemberg, Germany).
According to the company’s 2023 Sustainability Report, two thirds of its 71,000 staff were located in Germany, China, India, Japan, the US, or the UK, with the remainder based across Eastern Europe, Africa, and Oceania (its Managing Board members primarily based in Germany and the United Kingdom, with one member based in the United States). The company maintains a number of what it refers to as “value partnerships” globally with its distribution and other partners, which it describes as strategic relationships which allow the company and its partners to address industry-wide obstacles, including workforce shortages, cost containment, access to care, and technology optimization. (Value Partnerships). The company is partnered with a number of National Health Service facilities in the United Kingdom, including the Southampton NHS Trust, the Bolton NHS Foundation Trust, and Airedale Hospital NHS Trust, among several others (Customer References); it is partnered with the William Osler Health System in Canada, and the Rush University Medical Center in Chicago, and has partnerships with clients of similar caliber in Spain, the Netherlands, Germany, and other countries.
Market Conditions
The company’s primary competitors include the Atrion Corporation, Boston Scientific Corporation, GE Healthcare Technologies, Inc., and Hologic, Inc. Per the 2023 annual report, healthcare trends globally remain relatively unchanged by the global COVID-19 pandemic, inflation, and ongoing geopolitical events. The market has been influenced by a number of other factors, including the aging population of many nations, which has caused significant strain to many local healthcare systems; the increasing costs associated with providing healthcare to an aging population has limited the economic ability of many locations to invest in new medical technologies. However, the trend may also be conducive to the company’s purposes by increasing demand for cost-efficient health services. In tangent is the growing trend of noncommunicable diseases associated with both aging and lifestyle factors; this trend has resulted in a higher number of patients experiencing comorbidities, which is driving up demand for predictive medical technologies. The healthcare market is also impacted by economic growth in developing nations, which drives market growth and increases the availability of healthcare services for many. New policies regarding healthcare service provision, specifically, regulations aimed at increasing the quality of healthcare and decreasing costs at the point of service, have resulted in the implementation of new pilot services. Finally, the market has in recent years been influenced by political and macroeconomic factors, such as required localization and increasing protectionism and other barriers to cross-border trade.
2.4 Internal Environment Scan (SWOT Analysis)
Strengths
Global Presence
Siemens Healthineers has a strong global presence and network of sales in worldwide markets. Their markets are found in America, Europe, Africa, the Middle East, Asia, and Australia. Siemens Healthineers’ broad presence in geographically diverse markets helps to mitigate the risk of relying on one geographic region for growth. The company’s sales representatives are located in upwards of 70 countries, and it has near-global sales reach, with buyers in more than 170 countries, as noted in the 2023 annual report. Significant presence in geographically diverse markets enables the company to offset the risk of depending on a single geographic region for growth (Siemens Healthineers A.G., 2024).
R&D
Siemens Healthineers prioritize research and development (R&D) to lead in technological advancements. Its R&D focuses on innovative digitalization and artificial intelligence (AI) solutions (Siemens Healthineers A.G., 2024). The company aims to enhance its current products and services in a way that transfers to digital platforms to enhance and support customers in their transition to digital healthcare uses. In 2023 the company had 24,00 intellectual property portfolios and 15,00 patents and is dedicated to growth. 8.6% of its revenue was used for R&D, which highlights how much the company values the development of new products and services.
Increase in Cash Reserves
The company has shown significant growth in the cash reserves sector of their business. From FY2022 there was a .9% increase in the company’s cash component. Additionally, there was a 5.7% increase in short term investments and cash reported from FY 2022 to FY 2023, the company accredits this growth from operating activities. The German medical technology company’s comparable revenue growth was at 4.7% for the year ended Sept. 30, slightly missing analysts’ forecast of 4.8%, according to a Vara Research-compiled consensus (MarketScreener, 2024).
Existing Customer Relationships
As referenced above, the company maintains a series of “value partnerships”, existing relationships with major spenders and influencers in the industry, which can be wielded both for the purposes of achieving the company’s stated goals regarding creating a more equitable, accessible global healthcare infrastructure, and in service of the company’s more internal goals of increasing market share, overall revenue, and funding available to be paid to shareholders in the form of dividends. These partnerships are developed in support of addressing and resolving concerns related to staffing and workforce development, operations management, access to healthcare, and technological innovation. For example, Siemens Healthineers currently has an active partnership with the University of Missouri, under which a program has been developed to address the “growing shortage of qualified service engineers” by co-developing one of the first online certification programs for clinical engineering (Value Partnerships). These partnerships bring value to the company by stabilizing variable market forces, like the supply of trained labor, and by ensuring positive relationships with sizable corporate buyers, encouraging high customer retention rates, customer loyalty, and further collaboration efforts in the future.
Existing Supplier Relationships
The company not only has relationships with suppliers of critical raw materials from across the globe, but it also maintains partnerships with some of the most awarded suppliers on the market in key areas of sustainability (Suppliers). Because of the scale of the company’s purchasing volume, these suppliers are likely to prioritize the business of Siemens Healthineers. This fact is crucial in ensuring an uninterrupted supply, particularly during major global events such as the COVID-19 pandemic, which slowed production globally. Favorable relationship conditions like this allow the company to provide unparalleled service to its customers, further solidifying the company’s relationships with its consumers, which leads to increased revenue and a more stable position within the market.
Weaknesses
Despite its strengths, Siemens Healthineers faces challenges inherent to operating in a highly regulated industry. The stringent approval processes, such as those required by the FDA in the United States, can delay product launches and increase development costs. Another notable weakness is the company’s vulnerability to market perception. Any negative perception regarding the quality or efficacy of its products could harm its brand reputation and sales, especially at a time when the healthcare industry as a whole is looked upon with deep skepticism. Furthermore, maintaining its global operations and investing heavily in R&D comes with significant financial and operational costs. These high expenditures could strain resources, particularly in periods of market uncertainty or economic downturns.
Opportunities
Artificial Intelligence Technologies
The healthcare industry’s growing demand for digital and AI-driven solutions presents Siemens Healthineers with significant opportunities for expansion. The company is well-positioned to capitalize on these trends by enhancing its digital platforms and AI capabilities, which align with the shift towards precision medicine and digital healthcare.
Ingrained Sustainability Practices
Siemens Healthineers have an existing, demonstrated commitment to manufacturing and operating in a way that has as light an environmental impact as possible. The company partners with raw materials suppliers, who themselves demonstrate a commitment to sustainability, and release a yearly sustainability report detailing the ways in which it has incorporated ideals of sustainability into its yearly operations. The global focus on sustainability provides an opportunity for Siemens Healthineers to reinforce their commitment to environmentally friendly practices, improving its appeal to socially conscious stakeholders.
Emerging Markets
Emerging markets in developing regions of the world, where healthcare infrastructure is rapidly growing, also offer untapped revenue potential. Collaborations and partnerships with healthcare institutions and research organizations can further enhance the company’s ability to innovate and expand its market reach.
Shifting Global Demographics
As indicated in the company’s 2023 annual report, the aging population of several nations provides both opportunities and challenges. With an aging population comes an increase in age-related health concerns in a population, and an increase in demand for technologies and service providers capable of addressing those concerns. This serves as an opportunity for the company to increase its level of service provision and overall sales in the many nations presently undergoing this demographic shift.
Similarly, many nations are experiencing economic growth, resulting in more leisurely lifestyles for citizens of these countries. Increased wealth is often associated with an uptick in noncommunicable diseases resulting from behavioral factors. A higher number of people experiencing these illnesses will result in increased demand for healthcare services and equipment, which the company can provide, and, if necessary, develop.
Threats
Siemens Healthineers operates in a highly competitive market, facing pressure from major players such as GE Healthcare and Boston Scientific. This intense competition necessitates continuous innovation and can create pricing pressures that impact profitability. The growing integration of connected technologies into healthcare systems exposes the company to cybersecurity risks, which could result in data breaches or disruptions to critical services. Economic volatility, including fluctuations in foreign currency exchange rates and the impact of inflation, poses additional challenges, particularly for a company with substantial international operations. Lastly, clinical trial challenges remain a persistent threat, as delays or failures in trials can impact product development timelines and erode investor confidence.
2.5 External Environment Scan (Pestel & Porter’s Five Forces Analyses)
PESTEL Analysis
Political Factors
Political factors impact the introduction or expansion of a new product in the US market. Regulations from agencies like the FDA make the approval process time-consuming. Trade and taxation policies directly affect product profitability. Companies in the Medical Equipment and Supplies industry, such as Siemens, are impacted by international trade policies and tariffs, influencing costs and revenues. Political changes can affect public policies and regulations, potentially impacting the company’s renewable energy sector. In addition, corporate tax rates and policies for research and development significantly influence investment decisions and profitability. Finally, major sociopolitical events like the war in the Ukraine can impact the company’s ability to manufacture and transport its goods across borders. The company currently has no manufacturing facilities in Ukraine, but upheaval in neighboring nations such as Slovakia, where the company does have significant operations, has the capacity to significantly disrupt the company’s operation capacity.
Economic Factors
Economic factors, including the general economic climate, fiscal and monetary policies, economic trends, growth, and government funding, can significantly impact businesses. Moreover, currency exchange rate fluctuations can substantially affect the company’s revenues and profitability, given its extensive international operations. It is also important to note the impact of inflation in the United States, as a moderate level of inflation is considered beneficial for a growing economy. The central bank aims to maintain an annual inflation rate of 2% (
Inflation (PCE) n.d.).
Social Factors
Regarding social factors, consumer preferences and tastes significantly drive the demand for imported products. These social factors impact consumers’ attitudes, interests, and opinions, influencing sales and revenues. Adapting to changes in the social environment of the United States and offering products that resonate with US consumer behavior is essential for businesses. Social trends and movements can also impact imports. For instance, increasing ethical and environmental concerns may lead to a greater demand for sustainable technology products, necessitating their importation from other countries. Social media is another noteworthy factor currently influencing US businesses due to its growing importance and role in rapidly disseminating trends.
Technological Factors
Technological advancements, such as innovation, communication, and engineering excellence, influence the healthcare industry. Siemens Healthineers invest in research and development and collaborate with start-ups and research institutions to drive innovation. The company has also established a Corporate Technology department, and an independent unit called Next 47 to expedite the time-to-market for new products and innovations (Hans-Joachim Fiedler, 2018). Additionally, technological advancements in the US have strengthened intellectual property protections, creating opportunities for companies to import products protected by intellectual property rights. Leveraging these technologies can give companies a competitive advantage and help them expand their presence in the US market.
Environmental Factors
Factors like geographical location, weather, and global climate change impact the environment. As the world focuses more on global warming and climate change, there is a growing need for sustainable and energy-efficient solutions. Siemens is well-placed to benefit from this trend because it focuses on renewable energy technologies and energy-efficient infrastructure. The company is committed to developing sustainable products and ensuring the sustainability of its entire supply chain (Admin, 2024). Additionally, while environmental regulations are intended to protect human health and the environment, they often lead to higher production costs for companies. Despite the costs, these regulations offer improved air and water quality, disease prevention, and reduced gas emissions.
Legal Factors
A wide range of laws and regulations heavily influence the business environment, with corporate policies playing a pivotal role in shaping company operations. In the United States, individual state and local governments have distinct laws impacting businesses. Treaties and international agreements are formal accords between countries governed by international law (Treaties and International Agreements, n.d.). In the healthcare industry, strict adherence to government regulations is crucial. For instance, Siemens Healthineers prioritizes adherence to laws, maintains liability insurance, and safeguards innovations through patents, trademarks, and copyrights for sustained success (Admin, 2024.).
FIVE FORCES Analysis
The Threat of New Market Entrants
The US MedTech industry offers substantial opportunities, yet it is accompanied by significant barriers, leading to a moderate to high threat of new entrants. As a result, new companies need to assess their financial needs accurately. Companies aiming to enter the American market must invest substantially in advertising, research and development, clinical trials, and regulatory approvals. The US healthcare system is complex, and strategies that were successful in other countries may not work in the US. Thus, being adaptable and responsive to changes is essential. Also, establishing trustworthy partnerships with hospitals, patients, and healthcare organizations is vital for new businesses to succeed in the MedTech industry.
The Bargaining Power of Suppliers
The bargaining power of suppliers for the US MedTech market is moderate. Suppliers in the healthcare industry include a variety of individuals and companies, such as physicians, healthcare systems, medical supplies, pharmaceutical companies, and billing and insurance entities. According to (Cimasi, 2014), new technologies, care standards, and regulatory initiatives can influence suppliers’ competitive advantage. The emergence of new technologies can impact suppliers’ bargaining power by altering care standards and efficiency. Furthermore, with fewer providers than customers, suppliers have greater leverage during contract negotiations.
The Bargaining Power of Buyers
Buyers in the healthcare industry, including physicians, hospitals, nursing homes, and households, have relatively low to moderate bargaining power. Several factors influence this classification. First, there has been an increasing consolidation of buying power in the industry, which has resulted in a reduced ability for individual buyers to negotiate favorable terms. Changes in medical reimbursement policies have also contributed to the subdued bargaining power of buyers. These changes have altered the dynamics of pricing and procurement within the industry, further limiting the influence of buyers (Maresova & Kuca, 2014).
Threat of Substitution
The threat of substitutes in the US medical technology industry is relatively low due to the distinctiveness and specialization of its products. However, in some market segments, more alternatives may be available, which could impact pricing and competitiveness. Substitute products face similar barriers to entry as medical devices, such as long lead times to market and significant capital requirements. Although these barriers do not prevent the development of substitute products, they slow down new substitutes’ emergence. Despite the presence of products designed to replace others, the overall demand for medical devices remains strong and continues to grow (Maresova & Kuca, 2014).
Rivalry Among Competitors
The intensity of the US medical technology market is significantly high due to various factors contributing to the competitive landscape. Navigating these factors is pivotal for companies to gain a competitive edge. For instance, continuous investment in research and development is essential to keep up with technological advancements. Adherence to healthcare regulations and intellectual property rights is vital for maintaining a strong competitive position. Moreover, establishing strong relationships with business partners and clients early on is crucial for building a solid foundation with critical stakeholders. Anticipated price increases can be managed by offering affordable solutions and fair reimbursement procedures. Additionally, market share significantly influences a company’s negotiating power and ability to invest in research and development. A solid organizational structure, reliable processes, foresight, and a skilled team are all imperative for standing out among competitors.
2.6 Critical Issues
In 2024, medical device manufacturers continue to face persistent and evolving challenges. The MedTech industry has faced material shortages, product delays, and disruptions in the supply chain (Doyle, 2024). As a result of material shortages and tight capacity, contract manufacturers tend to prioritize orders from larger customers, potentially leading to backorder issues. Additionally, rising interest rates, economic uncertainty, and global competition impact MedTech spending. Cybersecurity remains a significant challenge for medical device manufacturers and healthcare organizations, given the risks associated with the widespread use of embedded and connected technologies in medical devices. Consequently, medical device companies are pressured to reduce costs, streamline product portfolios, and address cybersecurity concerns. Despite these challenges, ample opportunities exist to establish a prominent position in the US medical industry. Conducting a comprehensive market and strategic analysis is essential to capitalize on these opportunities. This involves understanding customer preferences, identifying market trends, and making well-informed, strategic investments aligned with the current market landscape.
Market Analysis
3.1 Marketing research
This market analysis evaluates Siemens Healthineers’ customers in the United States, focusing on current and potential market dynamics. Siemens Healthineers, a global leader in medical technology, offers innovative diagnostic and therapeutic solutions to healthcare providers. This analysis identifies the critical needs of its customers, assesses the benefits of its offerings, and explores the purchasing processes and payment methods. Additionally, it examines the company’s distribution channels, purchasing frequencies, regulatory landscape, and market size to deliver actionable insights for strategic planning.
Siemens Healthineers addresses the need for precision diagnostics and operational efficiency, offering advanced features such as AI-driven imaging systems and healthcare IT solutions that translate into improved patient care and cost efficiency. The purchase process is shaped by multiple stakeholders, including clinicians, administrators, and procurement specialists, with a variety of payment and financing options available. The company’s products are distributed through direct sales and established networks, ensuring reliable delivery to healthcare institutions.
Regulatory compliance is a cornerstone of Siemens Healthineers’ operations, as the company adheres to strict FDA standards and industry best practices. The U.S. market, valued at $8.2 billion in annual revenue, is poised for steady growth driven by technological advancements and increasing demand for innovative healthcare solutions. This report provides a detailed examination of these factors and offers recommendations to enhance Siemens Healthineers’ market position and customer engagement.
3.2 Market size and growth
Siemens Healthineers uses a robust distribution model involving direct sales and strategic partnerships with medical distributors to ensure timely and reliable delivery of its products across the United States (MarketScreener, 2024). This model also includes services such as consulting, installation, and ongoing maintenance, enhancing the overall customer experience. The company’s supply chain is specifically optimized to meet the stringent requirements of the medical equipment industry, ensuring seamless product integration into healthcare operations (Hans-Joachim Fiedler, 2018).
The U.S. market for Siemens Healthineers’ products generated $8.2 billion in revenue in 2022, reflecting the robust demand for advanced medical technologies (Hoovers, 2023). This market is projected to grow at an annual rate of 4-6%, driven by technological advancements and the increasing emphasis on precision medicine and digital healthcare solutions (MarketScreener, 2024). This consistent growth underscores the expanding role of Siemens Healthineers in addressing evolving healthcare needs.
The U.S. medical technology market is highly regulated, with Siemens Healthineers required to comply with FDA standards for safety and efficacy. State-level regulations further shape product deployment and operational procedures (Cimasi, 2014). The company also implements rigorous self-regulatory measures, including quality control processes and adherence to global healthcare best practices, to ensure product reliability and maintain its competitive edge (Hans-Joachim Fiedler, 2018).
3.3 Market trends
The frequency of purchases for Siemens Healthineers’ products depends on their type. Capital-intensive technologies, such as imaging systems, are often purchased during annual or biennial budgeting cycles by healthcare providers. Consumable items, like diagnostic kits, are purchased more regularly to meet ongoing operational demands (Maresova & Kuca, 2014). Sales trends may exhibit seasonal fluctuations, particularly during periods of increased patient influx, such as flu seasons, or following regulatory changes that mandate technological updates (MarketLine, 2023).
The purchasing process for Siemens Healthineers’ products involves multiple stakeholders. Influencers, such as clinicians and specialists, advocate for advanced technology based on its ability to improve clinical care (Hans-Joachim Fiedler, 2018). Buyers, including hospital administrators and procurement teams, focus on aligning purchases with budgetary and operational goals. Meanwhile, users consist of healthcare professionals such as physicians, laboratory technicians, and nurses who directly interact with the products. This collaborative purchasing dynamic ensures a comprehensive evaluation of Siemens Healthineers’ offerings from financial, operational, and medical perspectives (Cimasi, 2014).
3.4 Customer analysis
Siemens Healthineers addresses critical healthcare needs, such as improving diagnostic accuracy, operational efficiency, and enhancing patient outcomes. Their products, including AI-enhanced imaging systems and healthcare IT solutions, meet the immediate need for reliable and precise medical diagnostics while streamlining workflows (MarketScreener, 2024). Customers benefit from tangible outcomes, including reduced diagnostic errors, faster treatment processes, and improved clinical decision-making. Beyond these manifest needs, latent motives such as enhancing institutional reputations and reducing long-term healthcare costs drive the adoption of Siemens Healthineers’ technologies. These benefits position Siemens Healthineers as an indispensable partner for healthcare providers (Doyle, 2024).
Siemens Healthineers provides flexible payment options to cater to the diverse financial capabilities of healthcare institutions. These include upfront payments for smaller products, leasing agreements for high-cost equipment, and customized financing solutions through Siemens Financial Services (MarketLine, 2023). Such arrangements ensure that healthcare providers can adopt necessary technologies without overextending their budgets. These options also align payment schedules with healthcare institutions’ revenue cycles, making large-scale investments feasible (Doyle, 2024).
Strategic Analysis
4.1 Marketing objectives (including financial objectives)
4.2 Market segments
Market segmentation seeks to identify targeted groups of consumers to tailor products and branding in a way that is attractive to the group. It is a way of aggregating prospective buyers into groups or segments (Tarver et al., 2024). Segmenting enables a company to better design its offerings and to better price and deliver them. Segmenting also allows a marketer to fine-tune its marketing program in comparison to its competitors’ activities within the same segment (University of Maryland Global Campus, n.d.). As with all industries, consumers in the Medical Equipment & Supplies industry vary in their demographics, expectations, resources, geographic locations, access to technology, cultural differences, buying attitudes, preference etc. Market segmentation is the process through which Siemens Healthineers can segment the overall market into smaller groups with similar attributes, buying behavior, socioeconomic background, etc. This is an effective way to reach out to the group of consumers more efficiently.
One way for Siemens Healthineers to effectively segment its target consumers is through geographic segmentation. Geographic segmentation is a subset of demographic segmentation in which customers are grouped by physical location, with the assumption that people within a given geographical area may have similar needs (Tarver et al., 2024). This strategy is more useful for larger companies seeking to expand into different branches, offices, or locations such as Siemens Healthineers. The company can segment consumers by dividing its overall market based on different geographic units such as countries, zip codes, states, cities, and neighborhoods. This will be highly efficient for Siemens Healthineers in all markets as prospective customers have different cultures, preferences, and administrative systems. Geocoding, which takes consumer data such as location, zip code etc., and plots it on a map, can be an effective approach to help with geographic segmentation. Geocoding helps businesses see where prospective customers might be clustered and target them with various ad campaigns, including direct mail (University of Maryland Global Campus, n.d.). Another demographic segmentation that Siemens Healthineers can explore is segmentation based on personal characteristics such as gender, income, occupation, age, ethnicity, religion, and generation. This is one of the most used market segmentations, because demographic information is publicly available in databases around the world. Siemens Healthineers can obtain a great deal of demographic information on various websites such as the US Census Bureau, FedStats, and The World Factbook, which contains statistics about countries around the world (University of Maryland Global Campus, n.d.).
Behavioral segmentation is also an option for Siemens Healthineers to explore. Behavioral segmentation relies heavily on market data, consumer actions, and the decision-making patterns of customers. This approach groups consumers based on how they have previously interacted with markets and products. It assumes that consumers’ prior spending habits are an indicator of what they may buy in the future (Tarver et al., 2024). Thus, divides consumers into groups based on their attitudes, product knowledge, product use, likes/dislikes, and other responses to the products.
Psychographic Segmentation is another type of strategy that Siemens Healthineers can use to target its audience. Although the most difficult market segmentation approach, this approach may yield the strongest market segment results as it groups individuals based on intrinsic motivators as opposed to external data points. That is, it classifies consumers based on their lifestyle, personality, opinions, and interests (Tarver et al., 2024).
Dividing the market into smaller segments, each with a common variable, will allow Siemens Healthineers to maintain a strong brand image by ensuring that consumers perceive the company just as the company wants to be perceived. Segmentation also ensures great potential for brand loyalty. Marketing segmentation increases the opportunity for consumers to build long-term relationships with a company. More direct, personal marketing approaches may resonate with customers and foster a sense of inclusion, community, and a sense of belonging. In addition, market segmentation increases the probability that the company will land the right client, who fits its product line and demographic. Another benefit from market segmentation is strong market differentiation and better targeted digital advertising. Market segmentation will enable Siemens Healthineers to pinpoint the exact message they want to convey to the market and competitors. This can also help create
product differentiation
by communicating specifically how the company is different from its competitors and perform better targeted advertising strategies. This includes marketing plans directed toward specific ages, locations, or habits via social media (Tarver et al., 2024).
4.3 Target market
As Siemens Healthineers strives to expand and improve its sales in the United States, the company aims to focus its marketing on targeted customer segments. A target market is a group of people that have been identified as the most likely
potential customers
for a product because of their shared characteristics, such as age, income, and lifestyle (James, M., 2024). This is a key part of the decision-making process when a company designs packages and advertises its product. Through target market segmentation, Siemens Healthineers can better understand its customers, tailor marketing strategies to boost sales and retain customer loyalty, while positioning its products to improve brand awareness and strengthen brand identity.
To ensure target marketing a new product must satisfy a need or solve a problem—or both. For instance, it is estimated that the global medical device market size is projected to grow from $536.12 billion in 2022 to $799.67 billion by 2030, of which, North America accounted for a market value of $196.17 billion in 2022. Due to the prevalence of chronic health conditions, aging population, and emphasis on healthcare services such as early diagnosis and treatment, patients are undergoing more diagnostic and surgical procedures (Fortune Business Insights, n.d.). This is driving the demand for medical equipment and technology. Thus, Siemens Healthineers can capitalize on this business need. With the rise in health care cost (especially hospital stays) and growing economic burden on the U.S. healthcare system, home healthcare services are becoming more popular. Patients with chronic illness or other disabilities are provided care in their homes rather than in hospitals or skilled nursing facilities” (Definitive Healthcare, 2023, para. 1). Thus, the need for medical equipment to care for patients in their homes. Siemens Healthineers can benefit from targeting their products to satisfy this area of need. For instance, the company can target areas of the U.S. where aging populations are growing and where home healthcare services are going to demand imaging, diagnostic, Varian, and advanced therapies (Yahoo! Finance, n.d.). X-ray machines and ultrasound machines are examples of imaging equipment that home health services require. Additionally, home health services require diagnostic equipment such as blood pressure monitors, sleep apnea monitors, and heart monitors. The Varian segment provides cancer-treatment technologies and solutions for managing care. Therapeutic equipment such as respiratory equipment, home infusion pumps, home dialysis equipment, and insulin delivery can help monitor people’s health at home. An aging population with chronic health conditions will most likely benefit from Siemens Healthineers medical technology devices, and the company can target these business-to-business (B2B) customers in Dallas, Texas and Baton Rouge, Louisiana. These two locations have shown high utilization of Siemens Healthineers medical equipment. In 2022, Amedisys Inc. recorded serving 317,932 patients in Baton Rouge, Louisiana. In addition, Enhabit Home Health & Hospice, AccentCare, & Elara Caring (all based in Dallas, Texas) saw about 443,375 patients in 2022. Furthermore, Amedisys Inc. operates more than 330 home health agencies in 33 states, and Dallas-based Enhabit Home Health & Hospice has 247 home health locations and 99 hospice locations in 34 states.
As previously stated, setting up a long-term partnership with these two organizations will initiate delivery of Siemens Healthineers’ medical technology services not only to Louisiana and Texas, but to the other states where these home health services are offered. This will enhance brand awareness and give the company an opportunity to adjust its marketing strategy to meet the demands of diverse consumers. Ingenuity for life, combined with the promise of new ambition, transforming healthcare into fighting disease, enabling efficient operations, and expanding access to care, send a powerful brand image that is enhanced by Siemens Healthineers’ focus to help those that need healthcare in the comfort of their homes (Siemens Healthineers, 2021).
Besides home health services, Siemens Healthineers can focus on hospitals and emergency care facilities in Dallas, Texas. The Dallas-Ft. Worth/Arlington metro area has the fastest rate of growth of U.S. cities in 2022 (Erickson, 2023). Growing populations require increased health services, including hospitals and emergency care services. By taking advantage of this geographic need, Siemens Healthineers can partner with other hospitals in the area, such as the Texas Health hospitals, and urgent care centers to provide medical equipment to meet the demand of these health institutions.
4.4 Positioning strategy
Positioning strategy is a marketing strategy that aims to differentiate a brand from its competitors by communicating its competitive advantage to consumers. The goal is to influence how consumers perceive the brand. Artificial intelligence has ensured that information is readily available to the average consumer, continuously comparing products and services. Companies formulate their positioning statements which “specify the position they want to occupy in the minds of their target customers, relative to other competitors” (Camilleri, 2018). Effective positioning strategies provide benefits for companies as they differentiate their products and services from competitors. Siemens Healthineers prides itself as a pioneer of breakthrough innovations and accelerated growth to strengthen the brand’s unique capabilities: patient twinning, precision therapy, digital data, and AI. These innovative technologies will enable Siemens Healthineers to transform healthcare to combat the most threatening diseases, enable efficient operations, and expand access to care to pioneer breakthroughs in healthcare for the benefit of everyone, everywhere (Siemens Healthineers, 2021). Siemens is positioning itself to benefit the customer with its differentiated products that innovate the healthcare industry while aiming to lower costs and bring more healthcare to people that need it the most.
Siemens Healthineers can also position itself to be completely committed to sustainability which is a growing concern for most Americans. By positioning itself to be committed to fighting cancer, cardiovascular, and neurovascular diseases through its unique technologies, while working towards sustainability, the brand is positioning itself as being more innovative, caring, and effective than its competitors. Its Enterprises Services (ES) offers hospital management and clinical IT solutions, which is now available in the U.S. “The portfolio also includes equipment management services, financial and asset management services, and operational capabilities for hospitals and healthcare organizations” (Enriquez, 2016, para. 1). Additionally, technologies are key to improving productivity in the healthcare sector, and Siemens stands out from its competitors by utilizing AI-enabled equipment that is more automated and faster (Medical Design Briefs, 2023). By generating growth through expanding its markets and innovative healthcare solutions, Siemens Healthineers positioned itself as a leading innovator and driver of revenue. Additionally, the company’s $20.951 billion revenue in 2021 increased from $16.925 billion in 2020 (Market.us, 2022).
As Siemens Healthineers strengthens its marketing strategy toward its target audience and partnership with home healthcare services and hospitals in the southern U.S., the brand will grow its positive image as a medical device innovator with the compassion and knowledge to use its scientific and financial resources to improve the quality and access of healthcare for all individuals, regardless of age, location, or sex. As the company continues to position its elite and advanced products and services in the minds of its customers through its brand message and image, it will help the company grow its customer base, as well as retain its loyal customers. Siemens can begin to target marketing strategies in other U.S. regions that are experiencing rising home health services and growing populations once it establishes itself with initial strategic partnerships.
4.5 Product and branding strategy
Understanding market strategy is crucial for Siemens Healthineers as it navigates the highly competitive and rapidly evolving healthcare industry. Market strategy can be defined as a long-term plan developed by an organization to achieve specific business goals by understanding customer needs, analyzing competitive dynamics, and aligning organizational resources to create a sustainable advantage in the marketplace (Lancaster & Massingham, 2018). For Siemens Healthineers to compete effectively with its top competitors Atrion Corporation, Boston Scientific Corporation, GE Healthcare Technologies Inc., and Hologic Inc., the company must adopt innovative marketing strategies and identify unique ways to become the go-to service provider for healthcare solutions. In 2022 it was reported that the company generated $8,213.9 million with the right plan in place we can continue to grow the market and generate more income. As advancements in technology continue to transform healthcare delivery, Siemens Healthineers must focus on building and sustaining a competitive edge by leveraging their expertise in innovation and customer-centric solutions. By conducting a thorough competitor analysis, the company can uncover unmet market needs, identify areas where it can differentiate itself, and refine its approach to better serve healthcare providers and patients. The following plan outlines how Siemens Healthineers can position itself as a global leader in medical technology by focusing on branding strategies, pricing strategies, distribution and supply chain strategies, and integrated marketing communications.
Siemens Healthineers must clearly define its brand identity, positioning themselves as a pioneer in healthcare innovation and patient-centered solutions. The brand’s personality should reflect trustworthiness, expertise, and a commitment to sustainability. According to Siemens Healthineers, nearly 90 percent of leading hospitals worldwide rely on its technologies, showcasing its significant influence in clinical decision-making (About Siemens Healthineers, n.d.-b). To differentiate from competitors, Siemens Healthineers can emphasize its innovative legacy, such as the development of groundbreaking technologies like the Naeotom Alpha, the world’s first photon-counting CT system, which demonstrates its leadership in precision medicine (About Siemens Healthineers, n.d.-b). Staying ahead of the curve ensures the ability to outperform competitors.
The company should communicate both emotional and functional benefits to its audience. Emotionally, Siemens Healthineers can position themselves as a partner in improving patient outcomes, resonating with healthcare providers who seek impactful and scalable solutions. Functionally, its broad portfolio, including diagnostic imaging, advanced therapies, and digital health solutions, supports operational efficiency and high-quality care delivery. Highlighting its investments in research and development, which reached €1.5 billion in 2021, further solidifies its reputation as an innovative and forward-thinking leader in medical technology (About Siemens Healthineers, n.d.-b).
4.6 Pricing strategy
Pricing strategies play a critical role in Siemens Healthineers’ ability to capture market share and sustain profitability. Price, as the only marketing mix variable that generates revenue, must align with the company’s product quality and brand positioning (Price, the Only Revenue Generator, n.d.). Siemens Healthineers should consider a value-based pricing strategy, which focuses on the perceived value its technologies bring to healthcare providers, such as improved diagnostics and treatment accuracy. For instance, advanced imaging equipment and AI-powered diagnostic tools can command premium prices due to their critical role in clinical outcomes.
Additionally, Siemens Healthineers can implement tiered pricing models to make their solutions more accessible to healthcare systems in low- and middle-income countries, addressing global disparities in healthcare access (Our Commitment to Sustainability, n.d.). This approach supports the company’s sustainability goals while expanding its market reach across six continents. To remain competitive, Siemens Healthineers must also monitor competitor pricing and adjust accordingly, ensuring its products are priced consistently with market expectations while maintaining profitability.
4.7 Distribution and supply chain strategy
An efficient and resilient supply chain is crucial for Siemens Healthineers to ensure its products reach customers on time and in optimal condition. With operations spanning over 70 countries, Siemens Healthineers must tailor distribution strategies to diverse markets (About Siemens Healthineers, n.d.-b). Advanced digital tools and data analytics should play a central role in optimizing inventory management, reducing waste, and ensuring timely deliveries. For instance, integrating IoT-enabled tracking systems can enhance supply chain visibility, enabling real-time monitoring to mitigate disruptions. This new tracking system can also improve delivery reliability and bolster public perception through customer reviews. Additionally, leveraging Customer Relationship Management (CRM) systems can strengthen market presence and customer engagement. Targeting India as the next strategic focus offers significant growth opportunities, given its expanding healthcare infrastructure and demand for advanced medical technologies. Collaborating with the United Kingdom provides a gateway to this market, utilizing its expertise in healthcare innovation and strong ties with India. Partnerships with British universities and clinics can facilitate co-development of tailored technologies and piloting healthcare solutions for India. Such collaborations leverage the UK’s reputation to enhance Siemens Healthineers’ credibility in a rapidly growing market.
To streamline operations, Siemens Healthineers should partner with third-party logistics services to deliver products. Outsourcing reduces costs associated with fleet maintenance and provides scalability to adapt to fluctuating regional demands. Using established delivery networks ensures efficiency while mitigating financial risks from infrastructure investments. Collaborations with third-party services align with Siemens Healthineers’ strategy to optimize operations while expanding market reach.
Collaborating with universities and clinics globally deepens market penetration and advances innovation. Universities are hubs for cutting-edge research, while clinics connect Siemens Healthineers to healthcare providers and patients. These partnerships expand access, facilitate product integration, and build trust in local communities. In emerging markets, partnerships address gaps in healthcare access, enabling technology transfer and capacity building to align with regional demands. By fostering these collaborations, Siemens Healthineers strengthens its market position and supports global healthcare standards.
Investing in modular transport systems and strategically located regional distribution centers enhances delivery efficiency while supporting environmental sustainability. Additionally, global virtual innovation teams allow Siemens Healthineers to share knowledge, accelerate innovation, and remain agile in shifting market dynamics (Wu, Shih, & Chan, 2009). These strategies ensure Siemens Healthineers’ supply chain remains resilient, sustainable, and equipped to meet the demands of a rapidly evolving global healthcare market.
4.8 Integrated marketing communications strategy
Integrated marketing communications ensures that all promotional efforts deliver a consistent and impactful message to Siemens Healthineers’ target audience. This approach requires alignment across advertising, public relations, sales promotions, and digital marketing. The company should prioritize digital channels, such as social media and email marketing, to engage healthcare professionals and decision-makers effectively. Highlighting success stories, innovative products, and sustainability initiatives through these platforms can strengthen brand loyalty and attract new customers.
Recommendations
To strengthen its market position, Siemens Healthineers should implement several key recommendations. First, the company should develop a branding campaign that highlights its innovative legacy and commitment to sustainability, reinforcing its reputation as a global leader in healthcare technology. Second, Siemens Healthineers should adopt a value-based pricing model while incorporating tiered pricing options to increase accessibility in underserved markets. Third, the company should invest in digital supply chain technologies to enhance efficiency, reduce costs, and improve sustainability. Finally, an integrated marketing communications plan should be designed to tailor messaging for diverse market segments, leveraging digital channels and emphasizing customer success stories to build trust and engagement. By implementing these strategies, Siemens Healthineers can achieve sustainable growth and maintain their competitive edge in the global healthcare industry.
Customized communication strategies for different market segments are equally important. For example, targeting hospital administrators may require a focus on cost savings and operational efficiencies, while engaging with clinicians might emphasize clinical accuracy and patient outcomes. Feedback mechanisms, such as customer surveys and focus groups, can provide valuable insights into the effectiveness of communication strategies, and inform adjustments as needed (Lancaster & Massingham, 2018).
Financial Analysis
5.1 Breakeven analysis (3 pages)
Present your breakeven analysis in a table that includes the following details about your client:
· forecasted total number of units sold (for a service industry, products could be service contracts or the number of customers served)
· forecasted average unit price (AUP)
· forecasted total sales (in US dollars)
· forecasted average unit variable cost
· forecasted fixed cost
· breakeven point (units)
· breakeven point (in US dollars)
5.2 Sales forecast
5.3 Expense forecast
Implementation, Controls, And Contingency Plan
1. Decide on the team that is going to implement the plan.
2. Determine the time frame for implementation.
3. Secure the financial and human resources needed.
4. Distribute the tasks among team members.
5. Periodically check and communicate performance against the marketing plan metrics (benchmarks) to ensure that implementation is on track.
6. Make changes if there are any deviations from the key performance indicators (KPIs) for those metrics, preferably using a dashboard. KPIs may include the number of sales calls, the number of new customers, sales, profitability, growth, etc.
7. Contingency plans should deal with severe deviations from productions plans, sales figures, market share, profitability, changes in government regulations (e.g., increased taxation), and drastic competitors’ moves (e.g., launching a competing product or service or an offering that may render your offering obsolete or less attractive to the market).
6.1 Implementation (3 pages)
6.2 Controls
6.3 Contingency plans
Appendices
Sales by Category (2022): This bar chart illustrates the revenue generated by Siemens Healthineers in key product categories during 2022. The data highlights that Imaging Systems were the top revenue generator, contributing significantly to the overall sales.
Sales Growth Rate by Category (2022): This bar chart presents the annual growth rates for each product category. Healthcare IT saw the highest growth, reflecting the increasing demand for digital solutions in healthcare.
Market Share by Category (2022): This pie chart shows the distribution of Siemens Healthineers’ market share across major product categories. Imaging Systems hold the largest share, followed by Laboratory Diagnostics, Point-of-Care, and Healthcare IT.
References
Admin. (2023, November 8). Siemens SWOT analysis – The strategy story. The Strategy Story – Simplifying Business Strategies.
Admin. (2024, May 13). Siemens Pestel Analysis – The Strategy Story. The Strategy Story – Simplifying Business Strategies.
Bendriem, B., Reed, J., McCullough, K., Khan, M. R., Smith, A. M., Thomas, D., & Long, M. (2018, April 10). The continual innovation of commercial PET/CT solutions in nuclear cardiology: Siemens Healthineers. Journal of nuclear cardiology: official publication of the American Society of Nuclear Cardiology.
https://pubmed.ncbi.nlm.nih.gov/29637525/
Customer References. Siemens Healthineers.
https://www.siemens-healthineers.com/nl-be/services/enterprise-services/customer-
references/customer-references
Doyle, K. (2024, March 1). Top medical device industry issues to watch for in 2024: Our insights: Plante Moran. Our Insights | Plante Moran.
https://www.plantemoran.com/explore-our-thinking/insight/2024/03/top-medical-device-industry-issues-to-watch-for-in-2024
Doyle, K. (2024a, March 1). Top medical device industry issues to watch for in 2024: Our insights: Plante Moran. Our Insights | Plante Moran.
https://www.plantemoran.com/explore-our-thinking/insight/2024/03/top-medical-device-industry-issues-to-watch-for-in-2024
Frue, K. (2017). Why do PEST analysis for your business? Retrieved from
http://pestleanalysis.com/
Hans-Joachim Fiedler, F. F. (2018). Siemens Healthineers – A Risk Assessment. Journal of Accounting & Marketing.
https://www.hilarispublisher.com/open-access/siemens-healthineers–a-risk-assessment-2168-9601-1000290
Harmon, A. (2016). SWOT analysis.
Salem Press Encyclopedia [online]. Retrieved from Research Starters, Ipswich, MA.
Inflation (PCE). Board of Governors of the Federal Reserve System. (n.d.).
https://www.federalreserve.gov/economy-at-a-glance-inflation-pce.htm#:~:text=What%20is%20the%20Fed’s%20inflation,personal%20consumption%20expenditures%20(PCE)
.
Kerin, R. & Hartley, S. (2017). Marketing (13th ed.). New York, NY: McGraw Hill.
Lancaster, G., & Massingham, L. (2018). Essentials of marketing management (2nd ed.). Routledge
Maresova, P. & Kuca, K. (2014). Porter´s Five Forces on Medical Device Industry in Europe. Military Medical Science Letters, 83(4), pp. 134-144.
https://www.researchgate.net/publication/268149998_Porters_Five_Forces_On_Medical_Device_Industry_in_Europe
Maresova, P., & Kuca, K. (2014, December). (PDF) porter´s five forces on medical device industry in Europe. ResearchGate.
https://www.researchgate.net/publication/268149998_Porters_Five_Forces_On_Medical_Device_Industry_in_Europe
MarketScreener. (2024, November 6). Siemens Healthineers Meets Annual sales view despite China weakness. MarketScreener.
https://www.marketscreener.com/quote/stock/SIEMENS-HEALTHINEERS-AG-42379342/news/Siemens-Healthineers-meets-full-year-earnings-forecast-48267979/
Medical Technology Leader Siemens Healthineers Chooses to Grow, Develop New Product
Lines in Delaware. (2021). Delaware Prosperity Partnership.
https://www.choosedelaware.com/press-releases/medical-technology-leader-siemens-
healthineers-chooses-to-grow-in-
delaware/#:~:text=It%20is%20wholly%20owned%20by,full%2Dtime%20employees%20in%20Delaware.
Porter, M. E. (2008). The five competitive forces that shape strategy.
Harvard
Business Review,
86(1), 78–93.
Products & Services. Siemens Healthineers.
https://www.siemens-healthineers.com/company
Purpose. Siemens Healthineers.
https://www.siemens-healthineers.com/company
Siemens Healthineers. (2023). Annual Report 2023.
https://www.siemens-healthineers.com/investor-relations/presentations-financial-
publications
Siemens Healthineers Course Resource. (2024). Ed. In. Dr. G. Konyu-Fogel. University of Maryland Global Campus.
https://leocontent.umgc.edu/content/dam/course-
content/tgs/mba/mba640/document/Project%204B2B%20Marketing%20Plan%20Assignment_Version%204 ?ou=1247240
Siemens Healthineers A.G. SWOT Analysis. (2024). Siemens Healthineers A.G. SWOT Analysis, 1–7.
Suppliers. Siemens Healthineers.
https://www.siemens-healthineers.com/business-opportunities/suppliers
Sustainability Report 2023. (2023). Siemens Healthineers. https://corporate.webassets.siemens- healthineers.com/53ef04c25431f824/114e81b51acb/Siemens -Healthineers_Sustainability- Report-2023
Taylor, N.P. (2024). Siemens Healthineers invests $314M in new MRI manufacturing plant.
MedTech Dive.
https://www.medtechdive.com/news/siemens-healthineers-oxford-
facility/715999/
Value Partnerships. Siemens Healthineers.
https://www.siemens-healthineers.com/en-us/services/value-partnerships
Siemens Healthineers. (2024). Our company. Retrieved from:
https://www.siemens-healthineers.com/company
Camilleri, M. A. (2018). Travel marketing, tourism economics and the airline product: An introduction to theory and practice. Retrieved from:
https://doi.org/10.1007/978-3-319-49849-2
University of Maryland Global Campus (n.d.). Segmenting, Targeting, and Positioning.
https://leocontent.umgc.edu/content/scor/uncurated/mba/2218-mba640/learning-topic-list/segmenting-targetingandpositioning.html?ou=1247240
University of Maryland Global Campus (n.d.). Strategic Alliances. Retrieved:
https://leocontent.umgc.edu/content/scor/uncurated/mba/2218-mba640/learning-topic-list/strategic-alliances.html?ou=1247240
Tarver, E. et al. (2024, June). Market Segmentation: Definition, Example, Types, Benefits
https://www.investopedia.com/terms/m/marketsegmentation.asp#toc-benefits-of-market-segmentation
James, M. (2024, August). Target Market: Definition, Purpose, Examples, Market Segments
https://www.investopedia.com/terms/t/target-market.asp
Fortune Business Insights. (n.d.). Medical device/medical devices market. https://www.fortunebusinessinsights.com/industry-reports/medical-devices-market100085
Definitive Healthcare. (2023, December 1). Top 25 home health corporations by total patient volume. https://www.definitivehc.com/resources/healthcare-insights/top-home-healthcorporations-total-patient-volume
Yahoo! Finance. (n.d.). Siemens Healthineers AG (SEMHF). Retrieved from:
https://finance.yahoo.com/quote/SEMHF/profile/?%20guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer%20_sig=AQAAABaU8upgrNLhgQqNkPxscdV9Qo8B4d6bdxsg9ex15xgCbtlOibAnHe59mRNLlBsngMbQtBiDV9s5zheNCUNBuxiXvuagzB8vl2G6o0-%20OWoPBcTesn85oXUlTYUaC5woGFgDzN3H_Rgg1Id2uDPNlkP5yZ_6eUgQFhwbnZcAP-&guccounter=1
Erickson, B. (2023, May 18). DFW grew faster than any region in the U.S. last year, but Dallas didn’t make up its losses. D Magazine. Retrieved from:
https://www.dmagazine.com/frontburner/2023/05/dfw-grew-faster-than-any-region-inthe-u-s-last-year-but-dallas-didnt-make-up-its-losses/
Enriquez, J. (2016, July 15). Siemens Healthineers brings enterprise services to U.S. MED Device Online. Retrieved from:
https://www.meddeviceonline.com/doc/siemens-healthineers-bringsenterprise-services-to-u-s-0001
Market.us. (2022, July 26). Siemens Healthineers statistics and facts. Retrieved from; https://market.us/statistics/pharmaceutical-industry/siemens-healthineers/
Siemens Healthineers. (2021, November 17). Siemens Healthineers accelerating growth and launching “new ambition” – the third phase of its strategy 2025. https://www.siemenshealthineers.com/press/releases/new-ambition
SEMHF | Siemens Healthineers AG annual income statement | MarketWatch. Market Watch.
(n.d.). https://www.marketwatch.com/investing/stock/semhf/financials
Cimasi, R. J. (2014). Healthcare valuation. Wiley-Blackwell.
Doyle, K. (2024, March 1). Top medical device industry issues to watch for in 2024. Plante Moran. Retrieved from https://www.plantemoran.com
Hans-Joachim Fiedler, F. F. (2018). Siemens Healthineers – A Risk Assessment. Journal of Accounting & Marketing. Retrieved from https://www.hilarispublisher.com
Hoovers. (2023). Siemens Healthineers AG. Retrieved from https://logon.onesource.com
Maresova, P., & Kuca, K. (2014). Porter’s Five Forces on Medical Device Industry in Europe. Military Medical Science Letters, 83(4), 134-144. Retrieved from https://www.researchgate.net
MarketLine. (2023). Siemens Healthineers Market Report. Retrieved from https://www.ebsco.com
MarketScreener. (2024, November 6). Siemens Healthineers Meets Annual Sales View Despite China Weakness. MarketScreener. Retrieved from https://www.marketscreener.com
Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78–93.
Reuters. (2024). Siemens Healthineers boosts AI-driven imaging systems. Retrieved from https://www.reuters.com
