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Key Topics
Requirement
Write a Marketing plan for a product/organization/service of your choice (e.g., if you would like to introduce a new medicament to the market, your assignment would be based on that; or if you have opened a new pharmacy, how you want to market it in your community). You may review the attachments for the assistance.
Solution
Executive summary
The marketing plan is given to open the clinic and being an individual, I would like to name my clinic as Kingsley Greeno Family Clinic, and the clinic will be opened in UAE. The clinic will provide the best quality of services and treatment to the people for their well-being. The services are not restricted to the people of any single age group as everyone can avail them at the lower prices for their improved quality of work life. Further, the marketing plan includes the market challenge, situation analysis, market segmentation and short and long-term projections in order to come up with a great plan for the patients and this will also help in achieving sustainable competitive advantage.
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Contents
Market challenge
Our doctors will diagnose and treat the various diseases of all ages and will emphasize more on the prophylactic medicines and the overall wellness and health of the patients. The clinic will be having adequate equipment and the well-trained staff in order to take care of the patients. There will also be the retailing of prescribed drugs, products of beauty and cosmetics for the patients. An initial goal for the monthly appointments will be approximately 150, and for first two months, the patients will get a discount as well. Our long-term strategic goal for our practice will be to create a caring environment of service while assuring that the individual differences are being valued at each step and level of the company. We will keep the prices low so that each person can avail the services and remain healthy. We will not restrict our services to a particular age group rather we will offer services to people of every age group.
Situation Analysis
Practice Analysis
Our primary goal will be to treat the patients according to their needs on the basis of first come first service. Our secondary goal will be to assimilate the staff as highly skilled, experienced and passionate professionals of healthcare who will convert their experience and knowledge of care within the distinct population positively. Our mission will be to embolden the hope and further contribute to the well-being and health of the patients by offering the best care through incorporated clinical practice, research and education.
The Strengths of the Kingsley Greeno Family Clinic will be:
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The clinic will pay more concentration to the activities of education and research. The team of the clinic will be more tangled in the multi-disciplinary research as this will help in various discoveries of prevention and treatment methods and techniques.
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The clinic will focus mainly on the quality of services which will be provided to the patients like care, usage of technology, expertise, knowledge, etc.
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The clinic will incorporate the scheduling system of patients which will help in entrusting patients to the various physicians and the time of appointment will be organized.
The Weaknesses of the Kingsley Greeno Family Clinic will be:
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The existence of competitors in the area of Ra Al Khaimah as there are various competitors who provide similar services to the patients to some extent.
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As the people will come from a different background to work in the clinic and this might not create the synergy of diversity and will result to conflicts.
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The clinic has to provide specialized treatments for the various conditions of health like cancer because people visit the clinic who offers such specialized treatments and if the clinic does not do so, then it might lose the share of the market.
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The market share of the clinic at the initial stage will be 6 percent, and it is being estimated that the market share will increase in the upcoming time.
Patient Analysis
Our clinic is expecting to see at least five patients a day in the initial month, and we will also offer some discounts to them for the first two months. Therefore, we will keep the prices low for our services so that we can engage more and more patients in order to increase our business value. We will not provide the services and treatment to the burnt patients as we don't have physicians of this field at this point in time but we might provide services to them as well in the near future. However, we will treat the rest other types of a patient but we will be aware of the angry patients and will handle them calmly because they are the ones who impact the business value adversely. Further, the patient value the most are symptoms and soothing illness instead of prevention of disease. We will make sure to cure the patient as soon as possible without wasting any time and resources. The patients want care immediately and also value kind behavior from the staff of the clinic. They want to get best treatment and services with the minimum cost. The patients will not be forced to get the services our clinic. But we will also keep the facility of feedback as the patients will be asked to give the feedback after they are cured of the disease so that we can improve our services accordingly (Abdool, S.A., 2014).The concentration of patients will increase depending on the services we will offer as we will provide services at the lower price and the new equipment and advanced technology will be used in order to cure the patients. We will not have any age bar for the patients as we will provide services to the patients of every age group. And we will also provide monthly checkup facilities with the membership card so that the patients remain healthy for a long run.
Competitor analysis
The competitors will be Al Zahrawi Hospital as it is located in the same location like our clinic the hospital was created in 1987. The hospital has well trained and qualified staff which provides services to the patients. The hospital offers almost every kind of treatment in order to cure the patients, and it has various departments for such services like dentistry, radiology, dermatology, gynecology, etc. The hospital has the great position in the market and has a great business value (Alzahrawihospital.com, 2016).
The strengths of the hospital are-
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The hospital has a sustainable competitive advantage because it is being recognized by the Health Ministry, UAE.
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The patients prefer to visit the hospital instead of any other because of the specialized treatment which the hospital provides to the patients in order to cure them of the disease. The market share is 28 percent.
The weakness of the hospital are-
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The middle-class families cannot afford to avail the services as the prices of the services are very high.
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The hospital doesn’t have a good repo with the other small clinics in the neighborhood and doesn’t provide any kind of services to handle the patients during the case of an emergency.
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The another competitor is the Modern Polyclinic as it is also located in the same location and it mainly focuses on children by providing them best services and cures them of the various diseases. It is also being recognized by the Health Ministry, UAE. The market share of the hospital is 26 percent (Mymd.ae, 2016).
The strengths of the hospital are-
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The hospital provides various health and medical services with the information technology advancement.
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The patients are more attracted to the hospital because of the usage of the equipment of advanced technology.
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The weaknesses of the hospital are-
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The prices are very high for the equipment of advanced technology which is not affordable for everyone.
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The staff of the organization is not well organized as they are highly qualified and there are conflicts among them.
Collaborators
We are planning to work with the Al Ittihad Drug Store, UAE (Al Ittihad Drug Store (IDS), 2016). As it is one of the leading distributors of the drugs and we are looking forward to working with it for the retailing of prescribed drugs in the near future in order to increase our business value. This will also help in getting the sustainable competitive advantage by creating tough competition for the competitors. Our clinic will be able to maximize the profitability, and we will be able to fascinate more patients for the betterment of their lives.
Market Segmentation
Services and treatments
Further, the table is given which will help in understanding the services and the treatment which are clinic will provide.
SERVICES AND TREATMENT
DESCRIPTION
PERCENTAGE OF BOOKED APPOINTMENTS
FEES
(AED)
Blood and marrow transplant
It is the treatment for the cancer of blood or disorder like leukemia which further requires marrow and blood transplantation.
18
20,400
Chemotherapy
The cancer cells are destroyed with the help of medicines or drugs.
28
23,500
Immunotherapy
The immune system of the patient body will be used to fight any kind of disease.
35
14,000
Supportive oncology
It is the specialized care of the medical which helps in controlling the various symptoms of the disease and helps in improving the quality of life.
32
9,000
Fertility preservation
The information related to the risk of fertility and the various other options of preservation will be given to the patients.
39
7,000
Hormone therapy
This treatment will help the body hormones to change according to the needs of the body and will cure the various diseases.
49
6,000
Complementary therapy
This will include the massage, acupuncture, and reiki which will be given to the patients to make them feel relaxed.
60
Free of cost.
The booking goals can be reached by attracting patients through promotion and offering them some discounts during the initial appointments. The patients will get best services by the staff of the clinic at the economical rate as compared to the competitors.
Selected Marketing Strategy
Services, treatments, and procedures
There are various treatments which we will be offering like blood and marrow transplant, chemotherapy, immunotherapy, fertility preservation, supportive oncology, hormone therapy and complementary therapy. We will be offering these treatments in the beginning, and we will come up with more services and treatment in the near future. As these are the signature services and will slowly and gradually expand our services and treatment according to the needs of the patients. Further, the customers will get the best quality of services as our clinic will have best-qualified physicians and the staff in order to take care of the patients adequately. The physicians have experience of various years of training and they will not do at all experiment with the patients whereas they will give their best to cure the patients so that they can improve their quality of life and live a healthy life (McLain et al., 2016). Further, we guarantee satisfaction to the patients as they will not leave our clinic unsatisfied. We will give our best to provide them the best services and treatment for their well-being. The patients who will visit our clinic once will only prefer to visit our clinic next time. They will be pleased with the warm behavior and attitude of the staff and the physicians of the clinic.
Price and fees
TREATMENT AND SERVICE
PRACTICE FEES (AED)
FEES FOR EACH SERVICE (AED)
DISCOUNTS
Blood and marrow transplant
10,000
20,400
10%
Chemotherapy
12,000
23,500
15%
Immunotherapy
9,000
14,000
8%
Supportive oncology
6,000
9,000
3%
Fertility preservation
5,000
7,000
2%
Hormone therapy
3,000
6,000
1.5%
Complementary therapy
2,000
Free of cost
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The high discounts will be given to the patients during the initial two months in order to attract and retain them. The patients will get the two types of financial options i.e. care credit as they are very flexible, and most importantly they are budget friendly, and this will help the patients to make payments by getting various benefits. The another option is lending club patient solutions as this is also the flexible plan for the payment the rates are fixed and are very low and there will be no penalty for the prepayment. This will also help in extending the plans. The terms of the payments will be simple and easy so that the services can be avail by the middle-class people as well and they can easily access it (Lemmens et al., 2012).
Our services are compared with the competitors as they offer services at high prices and they exactly know that what the patient wants and why they cannot switch to another clinic. Therefore, we have done the complete research on our competitors and the people before making such a plan for our clinic. The competitors don't provide or rarely provide discounts to the patients, and the prices of the services and practice are very high whereas, we will provide discounts to them in order to retain them. The competitors also don't provide such financial options as they are mainly generating profits.
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We will be promoting our clinic in the nearby locations of Ras Al Khaimah like Diba, Umm Al Qaywayn, and Khor Al Fakkan. We will also be promoting our clinic in all the areas of Ras Al Khaimah like Ras Al Khaimah city, Rams, Masafi, and Al Jazirah Al Hamra. These are the places and locations in UAE where we will be promoting our clinic and services. Further, we will be locating our main clinic in the city of Ras Al Khaimah, and we will try to expand our business in the other parts of UAE depending on the number of patients from the particular location.
Promotion
We will be using various types of advertising campaigns and online marketing, and they are as follows (Eldredge et al., 2016):
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Google AdWords- it is also known as advertising of pay-per-click. This will also help us generating profits whenever the person clicks our website. And the person will be able to know about us whenever he will type a keyword related to our services and treatment then the name of our clinic will pop-up in front of him.
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Banner advertising- we will be using banner advertising in order to make people aware about our quality services and treatment, and this is one of the best methods in order to create awareness among people.
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Newsletter advertising- we will be advertising our services, and the treatment in the newspaper and this attract more patients as people are fond of reading newspapers and they will definitely give a look at our column.
The budget for our marketing plan will be $40,000. The various promotional programs will be conducted which are given above, and the estimated budget will help in achieving the desired goals. We will be hiring a specialist for the public relations in order to communicate with the target audience. Our goal for each channel will be to attract more patients so that they can avail our services economically and at best quality which will help us increasing our business value and gaining the competitive advantage.
Short and Long- Term Projections
We are expecting a great positive response from our efforts of advertising and marketing. As we want to attract more patients and cure them for their well-being and provide services to those even who cannot afford the services at other clinics. We are expecting around 700 appointments within the period of six months and approximately 1800 appointments for the period of one year.
Further is the budget for our marketing and advertising plan for our clinic for the 1st quarter only.
MARKETING EXPENDITURES
DECEMBER
(AED)
JANUARY
(AED)
FEBRUARY
(AED)
TOTAL
(AED)
Online marketing of directory
1,000
1,000
1,000
3,000
Pay-per-click
400
400
450
1,250
Generating new video
0
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