Examining 4A’s Marketing Framework for Marketing Strategy Proposal of Medical Device Product to Increase Market Share: A Case Study of PT MM Indonesia

Abstract

The medical device industry has seen consistent growth recently, offering a wide range of therapies for various diseases. MM, a global leader in this sector with a subsidiary in Indonesia named PT MM INDONESIA, has shown significant growth in radiofrequency ablation (RFA) for varicose vein treatment, increasing by 108% in FY21 and 48% in FY22. This research focuses on enhancing market share through marketing strategy and business model innovation in cardiovascular therapy. Internal analysis tools include VRIO, stakeholder analysis, and STP, while external analysis utilizes PESTEL, Porter's Five Forces, and Competitor/Benchmarking Analysis. Validation employs the 4A’s Market Framework for marketing strategy formulation and the Business Model Canvas for proposing business model innovation. Qualitative methods are used, with primary data gathered through in-depth interviews involving internal and external stakeholders such as physicians, hospital management, business leaders, channel managers, and education specialists. Thematic analysis is conducted using NVivo 14 for qualitative data analysis, supplemented by secondary data from journals, articles, and books. Findings from the research indicate affordability and awareness as the key gaps based on the 4A’s framework, driving marketing initiatives in those areas. Business model innovation suggests transitioning to a 4PL approach for its long-term strategic impact and financial performance benefits.