Running Head: HEALTHCARE MARKETING BUSINESS PLAN PROJECT 1

Healthcare Marketing Business Plan Project

Name of Student

Name of Institution

Date
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Healthcare Marketing Business Plan Project

Service Overview

We at (name of the company) will produce and promote robotic surgery products using

diverse distribution channels both locally and internationally. We are currently developing our

patent-applied technologies to our end product. Besides, we plan to establish our organization

image and brand in the medical products industry. Our products include

a) Endoscopy devices: The devises are used in hemorrhoidal ligation. They consist of

ligating bands with the capacity to grip and stretch.

b) Endoscopy Devices: Mainly used for tissue removal. It contains irrigation tools used to

effectively remove tissues.

I. Target Market

Our target market at (Name of your company) is both local and international. It is

important to understand your target market before starting a venture (Westhuyzen and Merwe,

2017). Our local market constitutes of local health care centers, independent physicians,

physician groups, medical care groups and medical equipment stores. The market is dominated

by healthcare facilities with a growing number of demands by physician groups. More the 50

percent of all sales of robotic surgery equipment are made to healthcare centers. The sales

forecast is to reach 70 percent by 2022.

Our international market will focus on above mentioned sectors including major

distributors. We have identified ten key distributors to enter the European, Asia, Central

America, Southern America, and African markets.

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Our future plans include extra technology ideas to be created by (Name of the Company)

research and development department. We might also acquire technologies developed by others

once we attain supporting capitalization.

According to our mission statement it’s our undertaking to both innovate and market our

products. Once we attain a sustainable market reputation with well-established marketing

channels, we shall produce other advanced medical devices.

II. Competitive Analysis

Our potential source for extra research and design help and compliance is Florida

Surgical Supplies in Florida. Assembling and distribution will be done from our own firm

located at JFK Medical Center in West Palm Beach.

We have taken humble time to focus on the invention claims of our product as well as to

protect them from likely competition directed from other technological companies in the

industry. All legal documentations are available for potential investor examination. We are

currently processing our Trademark, (Name of the company). During our initial name search

there are no conflicts.

III. Marketing Mix-Promotional Strategy

(Name of the company) will utilize the media industry and public relations to promote

our products. Product reviews and local and international magazines will help launch our product

awareness. Email marketing, google ads, social media ads, YouTube ads, and trade publications

will support consumer impressions. All the platforms will be integrated with tutorials and

training videos to make our products.

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During designing, diverse physicians were involved, thus bringing vast benefits. We shall

also recruit physicians to help showcase our products in sponsored events as well as seminars.

Promotions will be led by our targeted areas. An annual event will be endorsed too. Grewal and

Levy (2020), suggests that events are a great deal of marketing products and services.  Below are

other significant strategies we opt to leverage to market and promote (name of the company).

 We will list (name of the company) in local yellow pages

 We plan to create (name of the company) website and social media pages and employ

strategies that will help grow traffic.

 We will brand employees uniforms and our vehicles with our logo and slogan

IV. Marketing Mix-Place

The location of our business is West Palm Beach, Florida. According to Kotler et al.

(2013), a good location will sale your business. We are strategically placed at JFK Medical

Center. The location is advantageously placed to reach our targeted local customers. We have

access to numerous physicians, medical practitioners, as well as other surgery specialists who

visit JFK Medical Center. Other significant strategies include;

 We plan to contact all medical institutions all around Florida.

 We will sponsor relevant community-based programs

 We plan to distribute handbills and fliers in target areas

 We will mount billboards on strategic locations all around West Palm Beach Fl

V. Marketing Mix-Pricing
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The price of our Endo-Band is $2,500 per unit. Terms are 10 percent 5 days, net 30. For

the purpose of the cash flow, all collections will be done within an average of 35 days. Besides,

our 75 percent gross margin will set an allowance for factoring receivables if necessary.

Discounts attracts customers (Littlejohn, 2005). A discount of 28 percent will be given to

distributors. Quantity discounts are not currently set but can be negotiated for mass buying. In

the interim, our Endo-gator prices for the irrigation component goes at $ 1,500.

It is significant to note that these are the recommended retail values. They denote fifteen

times our estimated cost of manufacture. Strategically we will license these products for a 15

percent royalty. The licensee will negotiate the pricing.

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References

Grewal, D., & Levy, M. (2020). Marketing. New York, NY: McGraw-Hill Education.

Kotler, P., Burton, S., Deans, K. R., Brown, L., & Armstrong, G. (2013). Marketing. Frenchs

Forest, N.S.W.: Pearson Australia.

Littlejohn, A. (2005). Company to company: a task-based approach to business emails, letters

and faxes: students book. Cambridge: Cambridge University Press

Westhuyzen, B. V. der, & Merwe, J. V. der. (2017). The marketing mix. Mowbray, South Africa:

Future Managers.