Problem Solution: Teratech

In: Business and Management

Submitted By smooshy
Words 2126
Pages 9
Problem Solution: TeraTech
University of Phoenix
MBA 570

Problem Solution: TeraTech TeraTech a five year old Customer Relationship Management (CRM) solutions provider in the pharmaceutical industry who is facing a challenge of whether to create a new product in-house or through a partnership in order to meet the needs of their customers. They also have to consider in their decision the issues with their current staff lacking some of the skill needed to produce this new product.
Describe the Situation
Issue and Opportunity Identification TeraTech is faced with the dilemma of which direction the company should move forward. With customer satisfaction becoming an issue and increased competition TT needs to move fast on deciding to launch a new product created in-house or to partner with a company already producing such a product. TT is being challenged by this due to company growth has begun to slow down. Christine DeFalco has addressed the issue of a marketing mix and whether production in-house or thru a partnership as to how this product be priced, promoted and placed to fit within the direction TeraTech is wanting to move forward.
Stakeholder Perspectives/Ethical Dilemmas If going with the direction of TeraTech expanding its product line there are ethical dilemmas that stakeholders are being challenged. One dilemma is Christine DeFalco hopes of expanding TT product line may become a challenge with Chris Riggs, VP of human resource announcing a hiring freeze. Marketing research to collect and analyze information to justify what actions to take can be a strong argument to convince Chris to support hiring additional staff to meet the demands producing a new product. The alternative option of TT is a partnership with industries outside of pharmaceuticals which June Corso, Senior VP of Legal counsel believes may be too costly. Frame…...

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