Question

Conduct a Six Paths Analysis for the company Medtronic.

This entails identifying (either in graphical or tabular form) the current state of competition, vis-à-vis industry, strategic group, buyer group, scope of product or offering, functional-emotional orientation, and time. The easiest way to do this is to create a subheading for each of the six

Industry

Strategic Group

Buyer Group

Scope of Product or Service Offering

Functional-emotional Orientation

Time

Answer 1

Medical Science Industry is a fast growing industry but competition is comparatively less as copared to other industry.

Medtronic being a strong brand name has the ebst of technology to produce quality products

It has a well managed supply chain and reach in most of the market (nearly 160 countries in 370 locations)

It has some economies of scales due to large scale operations

Target Customers- Health clinics, Hospitals, goverment agencies and healthcare providers, NGOs

Product segment- medcines and medical devices.

But companies need to focus increase their product portfolio.

2.Strategic Group

Company should focus on product and thereby focus on new market

Focus on R&D of companies technology.

It has to increase its production capacity and invest on product innovation and research and development to put barriers for new entrants and create monoply.

3. Buyer Group

Company should focus on direct buyer or person influency purchasing behavior of the buyer and these include

Actual users are the ones who uses the product like

Buyer who buy for the service and product

Influencers who influence buying behaviour

Distributor and retailer of the product

4. Scope of Product or Service Offering

It is important for the organisation to identify the pain points of the product and accordingly provide the services . An organization must analyse the movement of product and its usage by the consumers. In most industries, competitors converge within the boundary of their industry’s product and service offerings.

5. Functional emotional orientation

it deals with functional and emotional connect of the product with the customer.

It is most valued and recognised company and it is trusted by doctors all over the world. Due to its good product customer trust the brand and has a strong emotional connect with the brand.

6. Time

Due to its presence in the market from a very long time with best products makes it a well established brand