Marketing Analysis : Raffles Medical Group Essay
Raffles Medical Group (RMG) is a leading medical group and the largest private group practice in Singapore. As a fully integrated healthcare organisation, RMG owns and operates a network of family medicine clinics, a tertiary care private hospital, dental and Chinese medicine services, insurance services, an educational healthcare institute and a consumer healthcare division (Rafflesmedicalgroup.com, 2015). Since its business is blossom in Singapore, RMG should expand the business and venture into another country like South Korea, besides having representative offices in Vietnam, Cambodia, Indonesia, Myanmar, Russia, and Bangladesh.
Raffle Medical Group should consider running their business in Seoul, Soul Korea which is classed as one of the world’s great economic success stories. In addition, South Korea is one of the countries which have recorded five consecutive decades of economic growth in excess of 5% (Worldbusinessculture.com, 2015). Furthermore, there is no doubt that people are being more aware of their health in recent years, thus, having a well-recognized hospital from a developed country like Singapore could widen the people’s choice when they are in need. Besides, by bringing RMG over to South Korea, it does not only help to promote the brand name and gain profit for the company, but it also allows Singapore to be more well-known across the globe.
2.2. PESTEL analysis of South Korea