Coursework Coversheet

Part 2 – Student Feedback

Student ID: Student Name:

Module Code: Module Name:
Assignment number: ESoft Module Leader: Ms. Sampa Rasaine
Date set: Date due:17th April 2022

Strengths (areas with well-developed answers)

Weaknesses (areas with room for improvement)

Additional Comments

Provisional mark
ESoft Module Lecturer:
as %:
ESoft Module Marker: Date marked:
1. Executive Summary
The COVID 19 epidemic has had a digital impact on all other sectors, as well as the entrepreneurial
business. A digital entrepreneur is a person who focuses on creating new businesses using existing
digital technology or developing new ones with the aim of selling only digital products or services.
Several studies have shown that digital entrepreneurship could make a significant contribution to
poverty reduction, prosperity, and livelihood improvement. Such as Cover letter and resume writer,
SEO consultant, an E-commerce retailer, App and website developer/Designer, Social media
consultant, Virtual assistant, and Affiliate marketer. One of the above digital entrepreneurship
ventures is looking to start a web page.

I wanted to start during the COVID-19 epidemic was developing a web page for the pharmacy
sector. With the COVID 19 disaster, the use of web technology in education, health, insurance,
transportation, and tourism became widespread. Out of these, I hope to start a web page that can be
used in the field of pharmacies sector. This is because the spread of the COVID-19 epidemic has
had a significant impact on drug care services in community pharmacies. A company overview of
this business I intend to start is outlined in this report. On the other, this report aims to analyse the
competitive market analysis and marketing strategies associated with my web page.

2. Note of owner
My goal is to become the most trusted resource on the Internet for medicine and related health
information. I achieve this goal by providing independent, objective, comprehensive, and up-to-
date information on a clear and concise website for clients and healthcare professionals. On other
hand, my objective is to deliver the required drugs to our customers through our website. My
entrepreneurship business concept is expected to start with the following entrepreneurial features.

 Curiosity

As a successful entrepreneur, I have a keen sense of new business opportunities,

which allows me to continue to look for new opportunities. I studied previous
research reports and news about my entrepreneurial business idea.

 Ability to adapt
 The nature of the business is constantly changing. I have the ability to help
entrepreneurs assess and adapt to situations so that the business can move forward
when unexpected changes occur.

 That is decisive

For my business idea to be successful, I have to make difficult decisions and rely
on them. It means having the confidence to make challenging decisions and see
through them.

 Team Building

Like, great entrepreneurs, we need to be aware of our strengths and weaknesses.

When we start a business, it is important to be surrounded by teammates who have
complementary skills and contribute to a common goal.

 Risk tolerance
Successful entrepreneurs find it easier to reap the rewards of their endeavors. It's
true that an entrepreneur needs to take risks to run a business, but we need to take
steps to minimize it.

 Comfortable with failure

Successful entrepreneurs prepare for failure and are comfortable with it. In addition to risk
management and calculated decision making, some level of consolation is needed with the
failure of entrepreneurship

Consumers could reap the following benefits from this digital enterprise venture that will
be launched in the field of pharmacy during the COVID 19 epidemic.

 Enables 24/7 online stay

Having a website for the pharmacy means that patients can find us anytime and
anywhere. This means that they can get all the information even after business hours. It
makes it easy for them to have access to the information they need in the comfort of
their own home. This also helps patients in an emergency.

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  Helps to share relevant information

Effective web design and relevant and important information will all be of great help to
patients. The hospital website can include key information such as drug descriptions
and pictures and can be used to order and purchase medications online.

 Competitors

In this digital age, almost everyone knows about the benefits of a website. This is the
reason why every business or organization gets its benefits. The pharmacies sector
allows the field to lead the competition through the use of digital technology.

 Expand my reach

Another advantage of having an easy-to-navigate healthcare website is that it reaches

out to seekers of information across geographical boundaries. For example, having a
web page for Pharmacies allows you to order medicines for patients in any remote area.

3. Business Overview
3.1. The Company Overview

Our website is expected to be one of the unique websites among health care providers.
Our website aims to build a business strategy as a set of clear plans, actions, and goals
that show how competitive a particular market or market is. We look forward to
following the steps below to build the best business strategies for building our website
and implement them accurately.

 Company name
This web page is made up of a collection of pharmacies and is named Health first.

 Develop a true vision.

Our vision is to be a global leader in pharmaceutical education, research, and
service committed to providing a collaborative and transformative learning
experience in a diverse environment focused on improving the health and well-
being of the communities we serve.
 Define competitive advantage

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 The essence of the strategy is to identify how we can give our customers unique
value to a company. We need to consider a well-thought-out business strategy on
how to create a competitive space in terms of service delivery, pricing model,
distribution system, and much more.
 Define our targets.
We can create a sales and marketing approach to the pharmacy by integrating
clear target markets. Where marketing activates sales productivity. Sales and
marketing plans work most effectively when goals are tight.
3.2. Location of the business5

Health first Choosing the right place when starting a web page as an enterprise business is not so
important. However, the most viable location for a community pharmacy is a heavily residential
area or junction. There will always be customers. They may not have the ability to buy high but
always come to care about their health. In such places, it is possible for both young and old to
sell different categories of drugs. Prescription and over-the-counter drug sales are common here.
This web page is more important as it is difficult for customers to travel to the dispensaries set up
in different areas after the COVID 19 disaster.

3.3. Management team

Speaking of our web team, this is a collection of employees working together to create digitally
based content. There can be a number of roles within that group. The number is different and
may actually vary depending on the task assigned to the team. Health first is the subdivision
responsible for handling all digital content as it is directly related to the objectives and business
of the web page. This means that they are responsible for having the right tools, the right people,
the right regulation, and technology to be fully functional and perhaps an independent unit. We
hope to use the following management team on the web page we created as a new digital
entrepreneurship idea.
 Lead designer
 Lead developer
 Assistant Developer
 Web manager
 Content producer

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  Senior editor
 E-marketing coordinator

4. Competitive Market Analysis

Competitive market analysis is a strategy that involves research to gain an understanding of
the product, sales, and marketing strategies of key competitors. This process involves
gathering a wide range of information about the competitors in my entrepreneurship
business. This allows us to look at competitors' product range and value proposals, their
business model and brand and marketing strategies, their sales performance, and the number
of brands they own. Based on this information, a competitive analysis can be done in the
following steps when creating a digital entrepreneur website.

 Identify our competitors

By knowing who our competitors are and what they offer, we can make our products,
services, and marketing stand out. It enables us to set our prices competitively and to
respond to our rival marketing campaigns. Dispensing drugs to customers through my
website may incur a delivery fee compared to competing pharmaceuticals.

Example: Health guard Pharmacy Limited, a 100% subsidiary of Sunshine Healthcare, is

one of the first brand retailers in Sri Lanka to enter the market with the aim of
transforming the retail market. Led by a team of professionals, Health guard has
introduced an innovative web page concept that focuses on advanced customer care, the
latest technology in data management, a comprehensive product collection, affordable
pricing, and value addition.

 Analyze competitors' online attendance

Once we identify and organize our competitors, we can assess their online presence by
evaluating how active their websites are, how easy their site is to use, and how often they
connect with their audience. With good digital marketing and e-commerce strategies at
the forefront of many businesses today, having a good, easy-to-use, robust website is a
great opportunity to stand out among our competitors.
 Check out the online reviews

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We need to visit websites like Google, Yelp, and Facebook to read customer reviews for
our competitors' services. If they have a Twitter or Instagram account, they should
consider how they respond to customer queries and negative comments. Online reviews
provide an insight into the customer experience a pharmacy provides.
 Talk to competitors' customers
When we read online reviews and comments, we should take notes of people who want to
learn more and reach out to them. If there is any shortcoming in their relationship with
our competitor, they can be informed that they are fulfilling those unfulfilled business
needs.
 Identify their strengths and weaknesses
Once we have completed all our research, we can compile it in one place and assess the
strengths and weaknesses of our competitors. This information can be used to focus on
specific areas where we can improve our business and capitalize.
 Use research tools
Conducting a competitive analysis is essential for the growth of our business. There are
many online research tools available to make the process easier and more efficient. These
tools can help us identify competitors, monitor their content, and analyze results.

Competitive market analysis is critical for a company's continued advancement

(Almaney, 2020). Taking the time to plan the key elements of the business can save me a
lot of time and money in the long run by better preparing for the challenges and
opportunities I may face as an entrepreneur for the first time. SWOT and PESTEL
analysis help to identify areas in our business that are performing well. These areas are
our critical success factors and give our business its competitive advantage.
1.2 SWOT analysis

The SWOT analysis of the pharmaceutical industry shows top management what industry
excellence is, what improvements need to be made, potential growth points, and
precautions to be taken to protect shareholder or company value.

1.2.1 Strengths
 My technical and management expertise.

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  Existence of Consumer Database
 A large number of customer

1.2.2 Weakness
 Still using a normal PC as a server
 Lack of management support for IT in the company.
 There is no system integration between one part and another.
Opportunities

1.2.3 Threats

 Data on sales are not up to date.

 There are quite a lot of competitors in the same business.

1.2.4 Opportunities
 Partnership with strong raw materials suppliers from abroad.
 Corporation with doctors has been well established.
 Technological development and advancements for system or application
optimization.

1.2 PESTEL analysis

PESTEL analysis can be used to weigh factors that hinder or promote the growth of our
new entrepreneurial business. This PESTEL analysis of the pharmaceutical industry can
identify how political, economic, socio-cultural, technological, environmental, and legal
issues affect the conditions of the pharmaceutical industry.

1.2.4 Political Factors: Below are some of the political situations that could affect our
pharmaceutical industry business.
 Most countries maintain frameworks that include guidelines about safety
standards, certifications, etcetera. They also mark the banned drugs, which
may cause health hazards. If a pharmaceutical company fails to follow those
regulations, its business may suffer severely.

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1.2.4 Economic Factors: PESTEL analysis identifies the economic conditions
affecting our pharmaceutical sector entrepreneur business as follows.
 The average health care cost to families is rising as a result of the COVID 19
epidemic. If there are older people in the family, there is more room for higher
health care costs. It also includes the price of medicines. Even after following
government guidelines on pricing, it still gives pharmaceutical companies
better profits.

1.2.3 Social factor: The following are some of the sociological conditions that may
influence the development of new digital software in our pharmaceutical industry
 Working from home due to COVID 19 makes people's lifestyle incredibly fast
but stagnant. As a result, more people are moving towards obesity. Thus,
health problems such as diabetes, thyroid, and high blood pressure. Patients
need continuous medication to cope with this. Therefore, drug sales are also
on the rise.

2.2.3 Technological factor: PESTEL analysis shows how it affects the conditions of
our technology enterprise business as follows.
 Drugs require proper storage conditions. Technology has made it easier to
preserve drugs and transport them without harm due to adverse conditions.

3.2.3 Environmental factor: The following are some of the environmental issues
affecting the pharmaceutical industry where we hope to launch a web page.
 Drug production creates various biotechnological contaminants. They can be
dangerous to human health. The company should be concerned about this
waste to maintain the safety of the public.

4.2.3 Legal factor: PESTEL analysis helps to point out the legal aspects that could
work for the web page development of the pharmaceutical sector.
 Since pharmaceutical products are essential, the Sri Lanka government always
uses laws to control the expiration dates of those drugs and frauds related to
the product. Failure to follow the guidelines set by a company may result in
legal action.

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5. Products and Offers
There are a number of different products that can be found when visiting a pharmacy. Out of
the many pharmacy locations in Sri Lanka, our website aims to provide a wide range of
health products and medicines to our customers. The purpose of our website is to become a
service provider that provides consumers with the prescriptions, OTC drugs, and other health
products they need to live healthier lives. Accordingly, the following products and offers are
expected to be provided through our website.
 Medical equipment: As consumers search for medical devices, we may have
what they need. We hope to ship everything from wheelchairs, crutches, and
surgical instruments to brackets and bandages to their home through this
webpage.
 Supplements: People who want to lead a healthy life need a number of health
supplements such as vitamins. Customers can order these through our website.
 Over-the-Counter Medication: Through our website, you can ask a
pharmacist what a customer wants or is suffering from. Then we find
something that helps the consumer.
 Medicine Prescription: We hope to provide price comparisons for pharmacies
in Sri Lanka. When a doctor gives a patient a prescription for a particular type
of medicine, it is available on this website.

6. Marketing Plan and Operations

6.1. Marketing objectives

The types of drug marketing objectives vary depending on the situation being applied for.
The pharmaceutical enterprise always has a definite idea of the expected market demand.
In practice, demand does not always meet the forecast level. Thus the marketing
objectives of our web page could be stated as follows.
 Build brand awareness and enhance their brand to establish themselves as a
trusted entity in the community.
 Educating consumers about existing treatments and related diseases.
 Awareness of the patient community about the condition, associated
symptoms, and existing treatments.

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  Dissemination of critical information when launching drugs or treatments.
 Improving website visibility and completing key site operations to maximize
the return on marketing investment.
 Increase sales of pharmaceutical products to maximize returns on production
costs and advertising investments.
6.2. Marketing strategy

A marketing strategy is the overall game plan of a business to reach out to potential customers
and make them customers of their products or services. A marketing strategy includes the
company's value proposition, major brand messaging, targeted customer census data, and other
high-level elements. The STP model is an innovative tool that is useful in developing marketing
strategies and designing marketing communication plans. The ultimate benefit of the STP format
is to help marketers prioritize suggestions and then develop and distribute personalized and
relevant messages to different audiences. Accordingly, the impact of the STP format on the web
page we intend to set up in relation to our digital entrepreneurship venture can be identified as
follows.

6.2.2. Segmenting 9

A market segment is a group of people who share one or more similar features. Corporations and
marketing teams use different criteria to develop the target market for their products and
services. In drug marketing, the segmentation process may have a different perspective. The
difference lies in the nature of the customer. Such as, Physician, Pharmacist, Healthcare
Manager, Product End Consumer or User, Product Selection, Prescription, and Distributor
Decision Making. It is expected to create a web page containing the taxonomy of all these
parties.

6.2.1. Targeting

Market targeting is the process of selecting the target market from the overall market. Target
markets are made up of a group of buyers who manufacture, price, promote, and distribute the
products that the company wants or wants to satisfy (Jaideep, 2022). After defining all possible
segments of the market, the seller must determine the target market. The drug dealer chooses to
target different segments with different businesses and different messages for the same product.
The following factors need to be considered in order to identify the different types of consumer

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purchases that will be made at the pharmacy in order to permanently manipulate the target
audience of our web page.

 Medical needs
 Lifestyle
 Age, demographics
 Family size
 Budget

6.2.3. Positioning

Positioning connects the medicine with a certain value in the customer’s mind. Thus, it must be
done in a way that creates and delivers customer value. It is important to position the medicine so
that consumers/individuals are interested in what we offer and appeal to the target market to
tailor and/or purchase accordingly.

6.3. Marketing Mix 10

Marketing seeks to maximize the return on investment in the production and sale of a product or
service. The pharmaceutical industry is engaged in research and development, commercial
production, and distribution of pharmaceutical and medical products. To understand the
marketing mix model of the pharmaceutical industry in Sri Lanka, we need to revisit Ps 4 from a
control point of view affecting the industry. Product, price, promotion, and location are the four
elements that are traditionally included in what is called a marketing mix.

Product

The product range of our health first pharmacy website is all daily use consumer items majorly
consisting of pharmacy products. Health first has over 20 outlets across Sri Lanka where
pharmacists prescribe medicines at affordable prices and help patients recover at a low cost.

6.3.1. Price 10

Health First uses a variety of management pricing tools to lower the price of its marketing mix.
In this rising price market, affordability and access to healthcare have become a priority on our
health first webpage. Health first could use a variety of management pricing tools to reduce the
cost of its marketing mix. Manufacturers offer retrospective discounts based on performance.

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These should be added to the web page. There are value purchase prices to ensure that drugs are
sold at real value rather than being sold at market prices.

6.3.2. Place 10

In our company's pharmaceutical distribution, the location, size, and scale of the warehouses are
important factors in connecting with customers. The location of the service product is important
as the service delivery is parallel to its production and is stored or transported. It is expected to
add a map to the web page designed to be distributed from the drugstore to the customer so that
the customer could get the medicine from the nearest pharmacy.

6.3.3. Promotion 10

Health first is expected to build a larger brand image in the United States. Thus marketing and
branding the image is a huge responsibility. This has greatly helped us to enhance our brand
image and establish a healthier brand with clean responsibilities.

6.4. Action 11

6.5. Strategy 11

6.6. Review and Control

Management Review Controls are critical to an effective control environment. Designing and performing
these controls effectively requires sound professional judgment. A well-designed MRC considers the
Fundamental Elements of MRCs, effects of IT systems, and reports, spreadsheets, & queries used in the
review. The following steps can be used to review our website.

 Start with a deep diving content review.

 Re-calibrate your audience.
 Engage in focused competitive reconciliation.
 Meditate on an attractive design.
 Solve cross-browser and device testing.
 Stay tuned with the new hosting options.
 Scout for security enhancements.
 Assess the need for a management shake.
 Integrate suppliers.
 Sync expiration dates.

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6.7. Success factors 12

I became an entrepreneur with the advent of COVID 19, and recently, I started thinking about
what it takes to be successful as an entrepreneur. I have presented many stories on the subject of
entrepreneurship over the years. The first thing I need to do is to succeed in entrepreneurship and
dispel the myth of innovative thinking and forward-thinking. I have found that the success of
entrepreneurship usually comes through a lot of work. Accordingly, I have identified some of the
top success factors for entrepreneurs.

 Be passionate: I must have a passion for the web page I am trying to achieve. When I
build a team in web page design, the passion intensifies in the others who join me. I think
both the team and my clients are more likely to really believe what I am trying to do.
 Maintain focus: Great entrepreneurs focus on an opportunity that no one else sees.
 Work hard: Success comes only from hard work. There is no such thing as overnight
success; Behind every "overnight success" are years of hard work and sweat. I expect to
focus on things I can control.
 Rely on your team: Our business needs people with complementary skills. We need to
find intelligent people who complement our strengths. I need to find talented people for
what I cannot do. This requires building a team.

7. Financial Plan 13

7.1. Strat up funding 13

References 15

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