Market Analysis

Market Analysis

Context.

MÀJEN provides certified training and professional services for the assisted living and supportive living industries. The state regulates the medication certified training. Each state has different laws for medication handling by unlicensed personnel. MÀJEN conducts only approved training as to minimize liability and risk. The rules however, change as legislatures’ modify laws. Therefore, MÀJEN must continually evaluate current training content and techniques to ensure full compliance.

The current local and national economic situation changes the total market. Assisted living facilities and supportive living facilities have a finite amount of funds. Most residents of these facilities have fixed incomes. As other expenses increase for these businesses, their desire to spend on training diminishes. MÀJEN must continually balance the value of services and intellectual capital with its customers’ ability to afford training fees. This is one reason why online training seems to be more cost effective for customers over the current in-person training model. Online training can be flexible to reduce or eliminate salary and travel expenses associated with in-person training. MÀJEN plans to divide the current training program into one-hour modules so employers have the ability to integrate training into a daily work routine or new hire orientation process.

Although the training fees remain the same to these facilities, employers can eliminate employee salary and travel expenses through Internet education options. This hybrid offering of certified training through e learning will create value by offering flexibility and cost savings (Shankar, Berry & Dotzel, 2009). Additionally, students will retain knowledg...

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... online option will be a radical improvement for the ALF and SLA industries that can bring cost savings, convenience, and efficiency to certified training (Getz & Robinson, 2003).

Objectives

MÀJEN’s primary goals and objectives include:

1. Increase expertise in online instruction through a subcontracting alliance (White & Bruton, 2007).

2. Acquire local expertise in creating and implementing online education through an employee relationship or partnership agreement (White & Bruton, 2007).

3. Increase current market share by 18% within one year by creating a Nevada certified online medication management class. Market the online program to existing and new providers in rural and southern Nevada.

4. Expand online education to two additional states within three years. Prioritize states by level of difficulty to certify training and total senior population.