Market analysis is the study of the different dynamics in the market. There are different factors that are important in market analysis and they include initial costs, the size of the market and the profitability (Moura, Santana, Droguett, Lins, & Guedes, 2017). In this assignment, there will be a market analysis of the purchase of da Vinci Surgical Robot.
Cost of the robot
The organization is supposed to review the cost of the robot. The objective of many organizations is to generate maximum profits which is the same case in this case. Before the purchase of the robot therefore, the organization is supposed to review the price. The price should be friendly or affordable. It is usually not recommended to buy a very expensive machine since it can eventually lead to losses.
Number of patients
The organization is supposed to review the total number of patients that the robot can serve in a certain time frame such as per week or per month. It is recommended that the number of patients served should be maximum so that there is what we call of economies of scale. Many patients served by the robot implies high income and this means profits to the organization.
Cost of training, Payments by patients and Payment to the staff
This are also important factors that the organization should review. The cost of training staffs to run the robot should be friendly and the payments per patient should be affordable but reasonable enough to generate profits. The amount paid to the staff who runs the robot should be reviewed such that it is proportional to the profit generated.
Maintenance costs of the robot are also important and the organization is supposed to review this aspect. The cost of maintenance i.e. repairs should be economical (Ivlev, Vacek, & Kneppo, 2015). The organization should avoid the robot if it is very expensive as it will incur losses rather than profits to the organization.
Ivlev, I., Vacek, J., & Kneppo, P. (2015). Multi-criteria decision analysis for supporting the selection of medical devices under uncertainty. European Journal of Operational Research, 247(1), 216-228. doi:10.1016/j.ejor.2015.05.075
Moura, M. D., Santana, J. M., Droguett, E. L., Lins, I. D., & Guedes, B. N. (2017). Analysis of extended warranties for medical equipment: A Stackelberg game model using priority queues. Reliability Engineering & System Safety, 168, 338-354. doi:10.1016/j.ress.2017.05.04