2050An Era of Scientific

Revolution

1 | P a g e

Marketing Plan

Company Name:

Z-tech Corporation

EXECUTIVE SUMMARY

2 | P a g eZ-tech Corporation offers a medical device developer business plan in order to facilitate the professionals' labour. The company's main objective is to fill a gap in the market of medical products and its patent-applied technologies are currently being developed. Already recognized as an expert in the design of nebulizer systems, pulse ox meters and blood pressure monitors, Z-tech Corporation proves to be a leading manufacturer of healthcare technologies. This medical equipment developer business plan is bound to be a revolution in the way of treating some health issues, especially making user-friendly solutions with an enjoyable design. Z-tech Corporation is undoubtedly establishing itself as a unique distributor of high quality, innovative healthcare equipment, seeking to give an answer to the customers' needs.

The company projects $50 thousand in sales in year three. The company expects to have $250 thousand in revenue by year five. Patent applications on its first three market entries have already been accomplished using a top patent law firm.

The market segments are clearly defined and all are subject to a high growth trend. Z-tech Corporation intends to license this technology to a larger company. The company becomes mature in year three.

This marketing plan illustrates our market segments and the strategies we are employing to get customers and create a solid revenue stream. Our unique focus of creating healthcare device with a new twist gives us an advantage over our competitors by giving customers a new outlet to enjoy easy scanning process.

Introduction Company Description

3 | P a g eZ-tech Corporation (the company) is a medical device development company that has designed and patented medical devices which it plans to produce and market through multiple distribution channels both foreign and domestic. The company is currently developing its patent-applied technologies to final product and approval stage. It is also seeking to establish its corporate identity in the medical products field.

It was launched only three years ago and the firm has experienced greater-than-anticipated demand for its products. We are also interested in extending their product line as well as adding new product lines.Over the next five year, it can increase its distribution, offer new products, and win new customers.

Core Competencies

Our company addresses the unanswered need for a health device that will reduce dependence on medical service largely making a scenario changed in a huge manner. Whereas, medical checkup is nowadays very time consuming and a big hassle, our proposed gadgets will provide a complete medical checkup in a short period without any trouble. People do not have to go to the hospital or diagnostic center for medical checkup. And they also do not have to huge amount for diagnosis.

Product

The health device our company going to serve is named as “A complete Health Reader.”Under this proposed project marketers will serve an electronic device that will ensure the basic health management without the help of any medical expert or having any medical expertise. This device will serve as a: Diet manager; Blood Pressure calculator; Temperature Reader; Heart beat monitor; Diabetic monitor; Eye checker Weight loss manager

Brand PositioningOur health device “A complete Health Reader”will be positioned as high-tech, powerful, fully-efficient and a all-purpose health diagnostic device which will reduce dependence on medical service, its hassel and huge amount of expense. Therefore, it is expected to grow and sustain for longer time in market.

Brand PromisesOur company promises to serve or deliver a complete health device that will demonstrate its highest competency and consistency in its performance as it is has been showing for several years. And it also promises not to refuse its customer expectation requesting to stay with them.

Mission Statement

4 | P a g eThe mission of the company is to be a leading full-service global supplier of new product development and medical device development outsourcing solutions. We strive to empower and enrich the lives of everyone by "bridging the gap" between ideas and reality. With our expertise, we are able to take ideas, research and develop them, then create a viable business marketing plan co-operatively with our clients to successfully implement a new medical device design. The timing of the new medical device design project is critical because of the constantly evolving technology.

Competitive Advantage

As we are first to launch this health device, we expect to capture our target market with a heavy promotional activities. And as we are working consistently to improve our products by time to time we expect have strong brand positioning in the target customers mind and therefore sustaining for a longer period.

Unique Benefits Easily portable Time saving Cost saving Hassel free User friendly Follow up and servicing by the company

Current Situation Analysis Macro Environmental

Health is such a part of life that is always thought to be one of the precious. People will never stop thinking about good health because it is essential to lead a happy life. People will always need to

5 | P a g eknow about blood pressure, body temperature, normal Heart beat, diabetic problems, eye problems because these types of needs never change in any sort of economic state. People must spend on keeping good health in all economic situations.

As our product is a health manager and it has nothing against law, there is no legal barrier in implementing our marketing plan.

Government is always a good supporter to our plan. As government is also concerned about people’s health, our plan would be a part of the solution.

Any type of technological advancement makes the people’s work easier. As this is the modern age, technology is upgrading very frequently. People always want technological device in their hands so that it reduces the necessity of manual task. That is why we created our health management product very upgraded. Our device is much lighter to carry and easier to control. In a word, it’s like a ‘Smart Health Manager.’

Our gadget has ecological sustainability and our plan has no negative impact on ecology. Besides, as nowadays we are also concerned about our environment and a sound environment must be necessary to have a sound health, we have a plan to manage the environmental health as well. This will add value to our total marketing plan and ensure our contribution to the ecological environment.

We are working on health care by oneself. So every citizen of the society must find it really necessary for their own. We have studied the trends of the family income and life style of the common people. Initially, we launched the product only for the upper class families. For now we have considered and tried hard to keep our product at the reach of the middle class. When our cost will reduce, we must make the health care product available to every citizen of every class at the every corner of the country.

Our supply chain is much stronger as we expected. We have distributors in every large city now and we always try to keep good relation with our suppliers as they are our co-workers.

Market Place

Our market demographics are as follows:

Middle class and upper class families. Between the ages of 21-60.

People living in cities.

The market trend is that the people expect if they could check up health condition sitting at the drawing room. As they are the city dwellwers and the cities are the mostly polluted areas, people are very much concerned about their health. They want to take health care sitting at home.

In the large cities, the market growth is the strongest. As upper class people live in those areas, they are the most potential customers of our product.

6 | P a g eAt this time, we face no competition in the market as we are the promoter of this product idea. When there will be at least one competitor, we will add competitive advantage to our product.

SWOT Analysis:

Strengths

A new, innovative product. Quality processes and procedures.

Gradual Market growth.

Wide distribution channel.

Special expertise.

Weakness

Highly priced product-unaffordable to lower class

Opportunities

A developing market (the Internet) Technological advancement.

Moving into new market segments.

Change in social patterns, lifestyle changes and so on.

Threats

Competitor in the nearest future.

Customers

The customers need a simple way for health care. They want to avoid physical visit to the health complex or clinic for general health service.

The upper class and upper middle class families with additional income are our most profitable segments.

They are purchasing our brand because they have already been concerned about their health and motivated by our marketing approach.

Our customers always expect the best value. So we are providing them with the value through our product. We are trying hard to get their satisfaction. We have already launched online customer care service for free.

In the nearest future, there will be competitors in this market. We must add competitive advantage to our product then.

7 | P a g eIf we can serve our customers the best and they are satisfied with our continuosly upgraded device, they must be and remain loyal to our brand.

We are promoting our product through advertising on mass media. Besides, we have recruited marketing people for presonal selling who can serve the best. This has produced a handsome return on our investment.

Brand

Our product is a completely new idea. So our brand has a monopoly market now.

The brand has already held the attention of the customers and they have been aware of their needs. They are quite loyal to our brand.

We are continously adding new features to our brand as the customers’ need.

Our brand promise is to maintain not only public health, but also environmental health. We will work on this promise as much as possible.

We have a plan to capture the upper class market segment within this year and the next two years we will be working on the rest of the market segments.

Office/Team Members

We have selected the best marketers and advertising agencies to promote our brand.

We have experts and skilled marketing people who form several teams and identify the customers’ needs.

We have research and development (RnD) department that works for the new product development.

We have the best trainers to train our new employees.

OBJECTIVE AND GOAL Marketing Communications objectives

8 | P a g eMarketing will follow from industry and trade and physician awareness campaigns to specific executions directed at specific customer segments. The top tier of 20 to 30 customers in each segment will be attacked first. Only a few sales hits in these top tiers will enable achievement of targeted forecasts. Health device will achieve its initial sales goals from direct and distributed sales. This product is targeted first since it is an existing, well-defined market. Worldwide sales through distributors will provide needed cash flow.

Direct Marketing objectives

To get these high level executives, we will develop an online ad campaign with some promotional offer to attract customers. We also will network at major health related conferences, including obtaining speaking engagements where we can discuss to expose our concepts and strategies to the right level of buyer.

Promotional objectives

Public relations, industry media, will help in over-all industry awareness plans. Feature articles and product reviews will help launch awareness. Direct mail to buying groups and ads in trade publications will help with buyer impressions. Finally, all will be integrated with physician materials and training video tapes once approval has been obtained to increase point-of-surgery usage.

We have to be worked closely with physicians to design our product. The importance of working with physicians is well known. As an outgrowth of our Physician Advisory Board, Health manager will actively attract allied physicians with sponsored events and seminars. Every major market area will be targeted. An annual event will also be sponsored.

Communication/PR/Publicity objectivesEffective business communication requires planning and coordination. To get the intended message to internal and external audiences, you need to understand the objectives of business communication planning. Planning your corporate message delivery can be the difference between getting the intended results and creating a public relations disaster with misinterpreted information.

Pricing objectives

In setting prices, these product innovators will follow market skimming pricing strategy in which companies set initial high prices to “skim” revenues layer by layer from the market.

This product will be priced in international transaction unit that is U.S. Dollar ($). Price range will be within US$ 750-900 initially. After the initial stage of innovation when the production cost will reduce then the price will also

gradually decrease to reach the general people’s affordability.

Brand development objectives

We should get a great logo and place it everywhere. We can develop a tagline. Write a memorable, meaningful and concise statement that captures the

essence of your brand.

9 | P a g e Design templates and create brand standards for your marketing materials. Use the same color

scheme, logo placement, look and feel throughout. You don't need to be fancy, just consistent. Be true to your brand. Customers won't return to you--or refer you to someone else--if you don't

deliver on your brand promise. Be consistent

Objectives for each distribution channel

Distribution patterns in the health care industry are such that the large buying groups dictate what products are used for certain procedures throughout their sphere of influence. Thus, our products could be mandated or forced out for thousands of patients due to their health plan or hospital group. Others recommend several alternatives which require physician education and intervention, similar to pharmaceuticals. Distributors are the key for foreign markets.

INSIGHT AND RESEARCH

Research programs

10 | P a g e Industry Analysis: We help you identify just how big your industry is in terms of revenue

and numbers of players. Keeping up with trends (technological, cultural, demographics) is also important for this section of your business plan and we scour industry and news sources to identify those trends.

Competitive Analysis: You know you have competitors, but what do you know about them? This section of your plan needs to include an analysis of your key competitors, how they market their services/products, how they differentiate themselves in their marketing efforts, and what kind of market share they possess. We can help you with competitive intelligence for both national and international companies.

Target Market Analysis: Identifying and prioritizing specific target markets are another key part of your business plan where research is crucial. You need to think about such questions as: What are the demographics and psychographics of your target audiences? How can you best reach them? What kinds of concerns do they have? How do they like to be marketed and sold to?

Other customer insight

Customer profiling and affinity analysis

Customer RFM and lifetime value analysis

Segmentation and modelling

Lead to purchase and next best buy analysis

Marketing Srategy

11 | P a g e Product

Our product is designed with maximum quality and has many features that can satisfy the customers’ needs. Our product is much more fashionable to use and we have online customer care service. We have already created a brand and we are trying to extend its value.

Price

As ours is a new product, we have selected the cost-based pricing.

When our market growth is higher and we have captured the maximum market segments, we will set the price based on value.

Customer Segment

We are trying to reach our customers personally; aware them of their health care and motivate them to this thinking that we are serving them with what they actually need.

Distribution Channel

We have distributors in every large shopping mall. We have already covered the largest cities.

Integrated Communications Plan

We have sales representative for personal-selling. Besides, we are continuosly advertising on mass media. We have Online Solution Center where the customers get solution of their healh problem.

We have plan to sponsor different public events for our publicity

Marketing BudgetWe always believe that Marketing is a revenue center, not a cost center. But we have to incur cost in order to produce revenue.

Our Operational expense forecast is $ 15,000

12 | P a g eOur Sales forecast is $ 900,000

Our gross profit per unit sold is $ 300

Marketing Implementation PlanFor successful implementation of this plan we should follow the marketing mix like-price, product, promos ion etc. Here we should find out all the marketing elements and divided the responsibility to different people to implement it.

In marketing sector there should different responsible employees like Launching employee Marketing employee in field, Marketing cost controller, marketing head etc.

13 | P a g eMarketing head: This person will make plan for introducing the product in effective & efficient way.

Marketing employees: They will play the role to introduce the product in market & collect information from customers.

Launching employees: They will launch the product according the acquired information of marketing employees.

Customer service: They will serve the customers.

External resources like equipments, raw materials etc have to be collected from different suppliers or agencies because the raw materials can not be produced by the company.

Other internal departments like sales data, purchasing, customer services etc they will control the internal data & help to maintain the customers.

Training is necessary here because this is a new product & the employees do not know about the product.So training will help them to introduce the product plan with them & also how to work with the plan effectively.

Marketer of this product will majorly use advertising, direct marketing, public relations as their promotional tools. Advertising on television channels and newspapers will help to spread the immediate attractiveness of the product; adopting direct marketing will include use of direct mails, direct-response television and Internet. Maintaining public relation will also play significant role in effective promoting which includes arranging press releases, special events and web pages. They can also publish their new innovation at various business and scientific journals for the product’s initial exposure.

References

1. Marketing Plan template.doc2. en.wikipedia.org/wiki/Marketing_plan

3. www.healthcaresuccess.com

14 | P a g e4. www.sba.gov

5. www.mplans.com

6. www.entrepreneur.com

7. www.business.gov.au

8. www.quickmba.com

9. www.knowthis.com

10. www.marketing-made-simple.com/articles/marketing-plan.htm