MARKETING MANAGEMENT FIFTH SEMESTER

BBA 3733

Id No. Students Name Registration Number

2019019 Dipendra Shrestha LC00015001319

20190 Nawadip Shrestha LC000150013

20190 Abhaya Aryal LC000150013

20190 Saleem Maharjan LC000150013

20190 Ujwol Maharjan LC000150013

20190 Ashim Khadka LC000150013

Lecturer Name : Mr. Bijendra Shah

Program Title : Bachelor (Hons) of Business Administration

Subject Code & Title : BBA 3733 Marketing Management

Semester : Fifth Semester

Assignment Topic : Report of IVY Nepal

Submission Date: July 21,2023

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Introduction:

IVY NEPAL is a pioneering telemedicine platform that seeks to revolutionize dermatological

care and offer a modern, convenient, and accessible solution for individuals seeking expert
advice and treatment for their skin concerns. Our vision is to bridge the gap between patients and
certified dermatologists by providing an innovative and user-friendly app that connects users
with specialized medical care from the comfort of their homes. Through cutting-edge technology
and a network of experienced dermatologists, IVY NEPAL aims to empower individuals to take
control of their skin health and well-being.

Founded with a mission to transform the way people access dermatological care, IVY NEPAL is
committed to leveraging telemedicine to make expert advice and personalized treatment plans
easily accessible to all. We recognize the challenges that individuals face in accessing
specialized healthcare, particularly in dermatology, where long wait times and limited access to
experts are prevalent issues. Our app offers a viable solution by providing users with the
convenience of online consultations, saving time and eliminating the need for physical clinic
visits.

Company Vision on Business Overview:

At IVY NEPAL, our vision is to be the leading telemedicine platform for dermatological care in
Nepal and beyond. We aspire to create a seamless and efficient ecosystem that connects
individuals with certified dermatologists, ensuring accessible and personalized skin health
solutions for all. By leveraging technology and expert knowledge, we aim to redefine the
dermatology consultation experience, making it more convenient and user-centric. Our mission
is to empower users with the tools and information they need to make informed decisions about
their skin health and achieve healthier, happier lives.

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Our core values revolve around quality, accessibility, and excellence in patient care. We strive to
maintain the highest standards of medical expertise by partnering with certified dermatologists
who have a wealth of experience and knowledge in their field. Our commitment to accessibility
drives us to make our services available to users from all walks of life, regardless of their
location or financial constraints. We envision a future where anyone can seek expert
dermatological advice with ease, enabling proactive skin health management and timely
interventions.

Background of the Industry:

The telemedicine industry has witnessed remarkable growth in recent years, driven by advances
in technology and a growing demand for convenient and cost-effective healthcare solutions.
Telemedicine platforms offer remote consultations and medical services, enabling patients to
access expert care without the need for physical visits to clinics. In the field of dermatology, long
wait times and limited access to specialized dermatologists have been persistent challenges. IVY
NEPAL emerges as a response to these challenges, providing a novel way for patients to receive
expert dermatological advice and personalized treatment plans through online consultations.

The traditional approach to dermatological care often involves patients scheduling appointments
with dermatologists, resulting in wait times ranging from days to weeks. Additionally,
individuals in rural or remote areas may face geographical barriers, making it difficult to access
specialized healthcare services. Moreover, the COVID-19 pandemic further emphasized the need
for telemedicine solutions to ensure continuity of medical care while reducing exposure to
infection risks.

IVY NEPAL aims to disrupt this conventional model of care by offering a user-friendly app that
facilitates direct interactions with certified dermatologists. Users can upload images of their skin
concerns, and dermatologists can provide accurate diagnoses and personalized treatment plans
through the app's secure messaging system. By embracing telemedicine, IVY NEPAL enables
timely interventions, prevents exacerbation of skin conditions, and enhances overall patient
outcomes.

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SWOT Analysis:

Strengths: IVY NEPAL boasts a user-friendly platform that offers easy access to certified
dermatologists online, eliminating the need for physical clinic visits and long wait times. The
app's personalized treatment plans and accurate diagnoses strengthen its value proposition,
providing users with tailored advice based on their specific skin concerns. IVY NEPAL takes
pride in its growing network of expert dermatologists, ensuring the delivery of high-quality
healthcare services to its users.

Our emphasis on quality and expertise sets us apart from competitors in the telemedicine market.
By thoroughly vetting and partnering with certified dermatologists, we uphold the highest
standards of medical care. The convenience and accessibility of our platform cater to the modern
lifestyle of our users, ensuring timely access to expert advice and treatment plans.

Weaknesses: The telemedicine market is highly competitive, and IVY NEPAL faces the
challenge of differentiating itself from other platforms. To maintain its competitive edge, the app
must continuously innovate and offer unique value propositions. Additionally, addressing
potential technological issues promptly is essential to maintain a seamless user experience and
build trust with its user base.
Our reliance on technology exposes us to vulnerabilities such as technical glitches or system
malfunctions. Ensuring a robust IT infrastructure and cybersecurity measures is crucial to
safeguard user data and maintain the trust of our users.

Opportunities: IVY NEPAL has several opportunities to grow and expand its reach.
Implementing targeted marketing strategies can help the app attract a broader audience,
including specific demographics and regions with a demand for telemedicine services.
Collaborating with reputable skincare brands can enhance the app's appeal to users by offering
exclusive product offers and educational content. Furthermore, partnerships with insurance

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providers can make dermatological care more accessible and affordable for a larger user base,
expanding IVY NEPAL's potential impact.

The global telemedicine market is experiencing rapid growth, presenting opportunities for IVY
NEPAL to expand its services beyond Nepal's borders. By exploring international markets, we
can reach a wider audience and positively impact the lives of individuals seeking expert
dermatological care worldwide.

Threats: Navigating telemedicine regulations and potential changes in healthcare policies may
pose regulatory hurdles for IVY NEPAL. Evolving consumer preferences and privacy concerns
require careful consideration and timely adaptation to meet user expectations.

The competitive landscape of the telemedicine market poses a threat, with existing and new
platforms vying for market share. As more companies enter the space, we must continuously
innovate to maintain our position as a leader in dermatological telemedicine.

Porter's Five Forces Model:

1. Threat of New Entrants: The telemedicine industry attracts new players due to its
potential for growth and profitability. However, significant barriers to entry, such as
regulatory compliance, technology investment, and building a network of certified
specialists, limit the threat of new entrants. IVY NEPAL, with its established network of
dermatologists, enjoys a competitive advantage in this aspect.

The cost and complexity of developing a telemedicine platform with a pool of certified
dermatologists present substantial entry barriers. IVY NEPAL's early entry into the
market and strategic partnerships provide it with a head start, making it a more attractive
option for users seeking reliable and established telemedicine services.

2. Bargaining Power of Suppliers: IVY NEPAL can leverage its large network of certified
dermatologists to negotiate favorable terms with medical practitioners. While individual
dermatologists may hold some bargaining power due to their specialized skills, their

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dependency on telemedicine platforms like IVY NEPAL helps balance the supplier
power.

Our strong network of experienced dermatologists further mitigates the bargaining power
of individual practitioners. By collaborating with IVY NEPAL, dermatologists gain
access to a wider pool of patients, increasing their reach and practice opportunities.

3. Bargaining Power of Buyers: Users have various options in the telemedicine market,
giving them significant bargaining power. To retain users and attract new ones, IVY
NEPAL must continually improve its services, user experience, and accessibility.

The convenience of telemedicine services allows users to easily switch between

platforms based on their preferences and experiences. IVY NEPAL's focus on
personalized care and expert advice helps create a strong value proposition for users,
increasing their loyalty to the platform. Additionally, offering competitive pricing and
partnering with insurance providers can enhance the attractiveness of IVY NEPAL to
potential users, further mitigating the bargaining power of buyers.

4. Threat of Substitutes: Traditional clinic visits remain a substitute for online

consultations, particularly for those who prefer face-to-face interactions. To counter this
threat, IVY NEPAL must emphasize its convenience, expert advice, and personalized
approach, ensuring users receive comparable or superior care through the app.

By consistently delivering high-quality healthcare services and demonstrating positive

patient outcomes, IVY NEPAL can build trust and credibility, making it the preferred
choice over traditional clinic visits. Furthermore, IVY NEPAL's emphasis on
accessibility and timely interventions aligns with the changing consumer preferences for
convenience and on-demand services.

5. Competitive Rivalry: The telemedicine market is highly competitive, with numerous

platforms vying for market share. To thrive in this dynamic landscape, IVY NEPAL must

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differentiate itself through continuous innovation, branding, strategic partnerships, and

superior user experience.

By continually enhancing its app's features, user interface, and functionality, IVY
NEPAL can stand out among competitors. Additionally, leveraging its growing network
of certified dermatologists and expanding its service offerings can strengthen its
competitive advantage. Strategic collaborations with other healthcare providers and
partnerships with established brands in the skincare industry can also bolster IVY
NEPAL's market position.

PESTLE Analysis:

1. Political: Regulations and policies related to telemedicine significantly impact IVY

NEPAL's operations. Complying with telemedicine regulations and healthcare policies is
crucial to ensure seamless functioning. Additionally, changes in government policies can
influence the reimbursement landscape and affect the affordability of telemedicine
services, potentially impacting IVY NEPAL's revenue streams.

2. Economic: The cost-effectiveness of telemedicine services attracts users seeking

affordable healthcare solutions. As economies evolve, people are increasingly valuing
convenient and accessible healthcare options. IVY NEPAL's emphasis on personalized
care and affordable services positions it well to capitalize on the growing demand for
telemedicine.

Economic growth in Nepal and neighboring regions presents opportunities for IVY
NEPAL to expand its user base and reach a broader audience. As disposable incomes
rise, more individuals may be willing to invest in their skin health and seek expert
dermatological advice.

3. Social: The increasing awareness of skin health and the demand for convenient
healthcare solutions align with IVY NEPAL's vision to offer accessible and user-centric

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dermatological care. Social factors, such as the rising prevalence of skin conditions due
to lifestyle changes and environmental factors, underscore the importance of timely and
expert skin health management.

Moreover, the COVID-19 pandemic has led to a surge in telemedicine adoption as

individuals seek to limit physical interactions while maintaining access to medical care.
IVY NEPAL's platform aligns with the changing social norms and preferences for remote
healthcare solutions.

4. Technological: Advancements in telecommunication and app technology enhance IVY

NEPAL's capabilities and user experience. Staying at the forefront of technological
innovation is critical to maintaining a competitive edge.

IVY NEPAL must invest in continuous technological updates and improvements to

ensure a seamless and secure user experience. Integrating artificial intelligence (AI) and
machine learning capabilities can enhance the accuracy of diagnoses and treatment
recommendations, providing users with the highest level of medical care.

5. Environmental: While no significant environmental factors directly impact IVY

NEPAL, incorporating sustainability practices can demonstrate a commitment to ethical
business practices. Emphasizing digital healthcare services reduces the need for physical
infrastructure, leading to a lower carbon footprint compared to traditional healthcare
models.

6. Legal: Data protection and privacy regulations require strict compliance to safeguard
user information and ensure legal operations. IVY NEPAL must adhere to all relevant
data protection laws and maintain the confidentiality and security of user data.

Conclusion:
In conclusion, IVY NEPAL's vision to revolutionize dermatological care and its commitment to
quality, accessibility, and excellence position it as a frontrunner in the telemedicine industry. By

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leveraging cutting-edge technology, a network of certified dermatologists, and a user-centric

approach, IVY NEPAL addresses the challenges associated with traditional clinic visits and
transforms the way individuals access specialized skin health solutions.

Through a comprehensive SWOT analysis, IVY NEPAL's strengths in convenience, expert

advice, and personalized care stand out. While the competitive landscape poses challenges, the
company's strategic focus on innovation and market expansion provides ample opportunities for
growth.

The PESTLE analysis highlights the impact of political, economic, social, technological,
environmental, and legal factors on IVY NEPAL's operations. By staying adaptive and
compliant with regulations, IVY NEPAL can navigate the dynamic healthcare landscape and
continue its journey of empowering individuals to achieve healthier and happier skin health.

Overall, IVY NEPAL's vision to revolutionize dermatological care and its commitment to
quality, accessibility, and excellence position it as a frontrunner in the telemedicine industry. By
leveraging cutting-edge technology, a network of certified dermatologists, and a user-centric
approach, IVY NEPAL addresses the challenges associated with traditional clinic visits and
transforms the way individuals access specialized skin health solutions.

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