Final Marketing Plan

Pinch Meter

Student Name
 Contents
 Introduction
 Background
 Situation Analysis – Background on the industry
 Situation Analysis – PESTLE
 Situation Analysis – Competition
 Market Demand
 Customer Decision Journey
 Value Proposition Statements
 Target Markets and Personas
 SWOT
 Promotion Suggestions
 Conclusion
Introduction
Background  The Pinch Meter is a medical device
used to measure force and resistance
of thumb phalanges associated with
Carpal Tunnel Syndrome (CTS).
 UPMC physician, Dr. Lubahn, inspired
Pinch Meter to quantify and objectify
the need and success of Carpal Tunnel
Release Surgery.
 BME team working with physician from
UPMC to create device prototype.
 Used by healthcare professionals,
including orthopedic and hand
surgeons, physical therapists, and
occupational therapists.
 Primarily used in healthcare facilities
such as physician offices and physical
or occupational therapy offices.
 No current device to assess this
specific measurement, only standard
pinch dynamometers.
 PESTLE
Political- Affordable Care Act continues, ensuring coverage for millions of Americans. This
includes Physical Therapy coverage (for most plans), the right to choose specialists, and coverage
for pre-existing conditions, such as carpal tunnel syndrome.

Economical- Physical Therapy growth trends predict a 21% increase between 2021-2030. The
global medical device market, worth 432B in 2020, declined by almost 4% due to the pandemic,
but is projected to grow to nearly 655B by 2028.

Social- Adults affected by carpal tunnel syndrome are unable to perform certain repetitive tasks
which can limit job capabilities. Carpal tunnel syndrome can lead to chronic pain, numbness, and
difficulty sleeping. An increased remote workforce may attribute to a larger CTS population, as
more job responsibilities become computer based.

Technological- Electronic Health Record software can be utilized to track Pinch Meter readings
and identify those at risk for carpal tunnel syndrome. This feature would be beneficial to
occupational health services and orthopedic surgery offices.

Legal- Businesses must register medical devices with the FDA for approval and determination of
Class. Environmental- In a pandemic culture, supply chain delays may affect production and
distribution. Purchase orders may be affected due to low patient volume/office closures.
 Porter’s Five Forces
1.Threat of new entrants- Low
Bargainin
g power
of
 Due to product differentiation
supplies
 This specific device does not currently exist and was introduced by an interested
physician
Bargaining 2. Bargaining power of buyers- Low - Medium
power of
Threat of
buyers
new entry  Due to high demand
 400,000-500,000 Carpal Tunnel Surgeries performed yearly in the US
3. Bargaining power of suppliers - Low
Porter’s
Five  Due to demand
Forces
 Prototype - first product of its kind
 Large selection of suppliers to select from
4. Threat of substitute products and services - Low - Medium
Threat of
substitut
e
Rivalry
among
 Currently there is not an identical product
products existing
or firms  Similar products could be introduced into the future market
services
5. Intensity of rivalry among competitors in an industry - Low
 Very few products currently in the market
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