Executive Summary
Kevin McDonnell, owner of BioMedical Research Ltd. (BMR) believed when he purchased the company that one of the product lines, Slendertone, could become a £100 million a year business by the year 2002. His strong belief in new product development as the “key to future growth,” led him in the journey to build a business based on this philosophy. Realizing that this ambitious goal would take more than product development and would also require a strong marketing plan, McDonnell placed faith in Brian O’Donohoe to build the marketing strategy that could cast Slendertone as a world-class brand. No doubt, BMR faced some challenges – identifying target markets, creating distribution channels, handling customer perception, as…show more content… The current growth in France and Ireland made this objective a very achievable target.
Identifying the Problem The problem Biomedical Research, LTD has is to develop a clear marketing strategy that will enable the company to achieve its goals and objectives. In addition to becoming a £100 million a year business by the year 2002, the company wanted to build credibility and become a world-class brand. Credibility would be a key component in creating the brand image Slendertone desired, as there were numerous products in circulation that gave consumers the impression of these products as gimmicks.
