Cochlear can follow several strategies available for expanding business operations and entering a new market. One of these strategies is to use the method of direct exports where the company can directly present the product to the buyer who needs the implant. The company has organized camps where it has conducted implants. The process of direct exports also helps remove middle-men, keeping the costs lower and having a direct return on investments. Indirect export strategy can also be adopted by cochlear where the products on offer can be exported indirectly through an intermediate or foreign distributor. It is important to note that Cochlear has a distinct presence in India, a country, a neighboring country of Pakistan with which could make exporting less expensive and more convenient (Gans and Stern, 2003).
Cochlear has over the years managed to earn the confidence of the buyers through a clear marketing strategy of ensuring advanced high quality hearing aids that offer a more complete solution to one’s hearing impediments. The company has been able to emphasize its credibility across markets which is a key feature in its market approach. The company knows that its products and especially the implants are catered more towards the needs of people who need a more comprehensive solution than hearing aids (Hoberg and Phillips, 2010).
The company places its products strategically for children and the aged with sever hearing impediments and the strategy of inviting doctors to its research and development laboratory to check on its manufacturing standards and product quality has helped it earn the recommendation of qualified medical professionals. One of the key marketing and growth strategies adopted by Cochlear is the acquisitions and tie-ups it has had with several other companies and organizations to help it achieve the desired results in the market and also in expanding business activities to a foreign market.