Sample Marketing Plan Essay
Eng Lungs Eng Valuable Information Technology Department Innovative System Incorporated Marketing Plan Prepared by: Chaos’s, Mark Lieu T. Marginalia, Jonathan P. Monotint, Gerri C. ICC, Gerald G. Company Summary Innovative System, Inc. , a value-added reseller of software products. Innovative was started in 2000. Innovative are located in 104 30th floors Petrol Mega Plaza Bldg. Loyal Avenue Maxima City.
Innovators began the development of this software product because of the need by hospitals and physicians to have easier access to data from disparate systems. Innovative has invested 92 million pesos and 2 years in the development of the product, Hospital Management System. HAMS will provide Intranet/Lenten applications to the healthcare industry to enhance access to the industry’s disparate legacy systems. This access to critical data is vitally important to patient care and satisfaction as well as to physician and staff productivity.
Company Ownership Innovative System Inc is located in Maxima City. It is owned currently 50% by Gerri Motivation and 50% by Mark Lieu Chaos’s. Mission To be a strong and dominant force in the field information technology by providing a gig quality IT products and services. Vision To conduct and provide IT services in the highest form of professionalism guided by
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As systems have become more complex, users are looking for simple ways to access data. We have found the Parent rule to be true in the healthcare market: 80% of the people only need about 20% of the data. It is unfortunate that the 20% is across many systems and thus difficult to locate. A review of the industry would put us in a evolving category called Universal Desktops or Single Sign-on Solutions. The Healthcare Community Healthcare has traditionally been a system of distinct parties who must work together and form a service community.
The parties include M. D. s, M. D. Office staff, hospitals, surgical centers, diagnostic centers, home health agencies, nursing homes, insurance companies, federal and state government, patients, and ancillary service providers. Patient and their information are the common thread. Each party creates unique information for and about the patient and yet has need of some identical information. The concept of using someone else’s information without physical presence in the originating facility is a dim hope only.
Within each party’s organization there exists a microcosm of the situation existing between parties. As an example, a hospital may have data in a billing system, a dictation system, a laboratory system, an X-ray system and a pharmacy system. The means of gathering, storing, and processing information is different for each party and, despite good intentions; multiple data systems present a very steep learning curve. A busy M. D. Will likely elect those which they must use (dictation and office billing) and ignore the rest. B.
Competitors Analysis The HAMS software has been in the disparate system market for nearly three years. Originally there was very limited competition. We fully expect the competition to increase as Java becomes better known and last year’s YAK issues free up budgets in hospitals, thereby making the sale of the product easier. Presently, our competitors include interface engine companies that are developing web front-end applications, internal application development from a hospital’s own staff, and hospital information systems companies who are web enabling their own applications.
However, we have several major advantages that will enhance our chance of success. These are: Hospital information vendors are focused on web enabling their applications, not the common access of their applications to other competitive vendors. This is our niche. Hospital information vendors generally do not respond to customers’ needs for specialization of their applications. Hospitals generally follow one another, which is why we have priced aggressively to get a customer base established. Our design allows for a very quick deployment. Our application is very easy to learn.
Our application ties many systems together, thereby being more difficult to install later. Competitors we are aware of include: 1 . BBC, an investment by Manila Technology Partners. This company has focused on single sign-on applications and has one or two installations. 2. INTELLIGENCE, originally an interface engine company, developed a web interface product. This company was purchased by Oneida Systems. Oneida recently went public and had a very successful offering. Another large interface engine company, Mongoose, is developing a web front end. . Med-Shell, another company that recently went public, provides similar services that we provide to payers. Med-Shell has purchased several companies and is developing its market. It has recently entered into a marketing relationship with MM. 4. JELL provides a repository to view clinical data over the web. We approached this company two years ago as a business partner, but they felt their development was too far along to assist us. JELL has one or two installations and has had those same installations for nearly two years. 5. Inter Fuse M. D. A consortium to many content vendors, is entering the market promising to be a catch- al solution to physicians and providers. C. SOOT Analysis Strengths A. In terms of product strength, HAMS has several distinct advantages over the competition: Its marked advancement in internet-intranet technology utilizing Flash, HTML, JAVA and/or JAVA Applets and Open Source, PH technology, The ability to upgrade and technically support via the internet Other advantages would include: Speed, ease of use, and quicker learning time utilizing browsers techniques.
B. In marketing, our most powerful assets are: Having the contacts, lists, and identifies of possible clients from attending previous read shows Having the “NAME” that previous clients are aware of: and Having the reputation of producing quality software and providing excellent support. Weaknesses Our company has no big reputation since it was new in the market. We are new in the field of Information Technology D. Marketing Analysis Market Segmentation Our market segmentation includes three primary areas: 1 .
Community and regional (Public and Private) hospitals averaging about 200 to 700 beds. 2. Third-party administrators and payers. 3. Government-run programs, Barraging Health Center, and Others Insurance offices. Community and regional hospitals are searching for ways to improve their back office operations and to improve relationships with physicians by providing them better access to patient information. Third-party administrators can use the software to provide remote access to authorizations, eligibility, claims status, referrals, etc.
This information also can be shared with hospitals that have the software and can enable electronic pre-admissions. Payers can use the software to offload heavily staffed call centers by allowing physicians direct access to eligibility, claim status, etc. Payers can in essence extend their operational hours by allowing direct access to data. They can use this program with employers to provide benefit plan details, account status, explanation of benefits, etc. State agencies funded by the government can purchase our “out of the box” application for certain mandated programs.
Other potential markets include any industry with disparate systems that could benefit from a consolidated view of data. An example of this would be the telecommunications industry which may have systems related to their different products. By using our reduce, you could view on one display a customer’s information coming from providers of email services, voice mail, local telephone service, long distance telephone service, paging services, cellular services, cable television, Internet services, etc. E. Standard E-Marketing Mix Product HAMS will sell software and installation services related to that software.
The company also will sell professional consulting services that include the design, writing, and implementing to custom screens, tile interfaces, and administrative security treasures related to the software product. The software runs on a variety of computer servers. The software is written in 100% Java, which is supported on many hardware servers and is scalable from the smallest of servers to the largest of systems. Product Description HAMS sells software for hospitals, physicians, payers, and related entities.
Software is sold with a base server license, seats, and applicable modules. The software will interface across all disparate hardware and software systems, using the Internet language of Java (licensed by Sun Micro Systems, Inc. ). No additional purchase of hardware is required to run the software. Professional services are provided for customization of the software. Training and support services are provided as a billable item. The product is currently developed in seven different modules. As an Intranet application solution, the modules are required to run on a SQL server.
The installed modules are Admissions, Transcriptions, Laboratory, Imaging, and Pharmacy. Future modules are in development as needed in the market place. Home Health and Physician management modules are complete but not installed. Currently five modules are successfully operating in six different environments. The HAMS Software A single system that will do the data collection, presentation, and transmission without regard to the platform, software, or location of either the original data or end user. A system that is sensitive to political, security, and financial aspects.
A system that recognizes the importance and responsibility of the M. D. A system that merges the unique talents of the team. A system that recognizes the annual purchase cycles of hospitals and offers a “subscription” or rental option. A system that derives from and is validated by the market research we have done with M. D. s and hospitals. Distribution The product will be sold primarily via a direct sales force. We currently have a few distributors who are excited about the product and have specific opportunities to market the product.
Sales Strategies The company’s goal is to infiltrate HAMS into the heart of the healthcare industry. The objective is for HAMS to be accepted as the standard Intranet application solution that hospitals, doctors, clinics, pharmacies, and laboratories use to obtain necessary patient data. There are three channels defined below to assist us in achieving this goal. Distributors -? there are five categories for distributors. These categories are: HIS Vendors (provide legacy-based applications to the healthcare industry).
Interface Engine Vendors such as CA’, SST, HCI, and Hubbell (provide communication interfaces between HIS vendor legacy applications to transmit data from one HIS vendor application to another). Healthcare industry related consulting firms (providing integration services to hospital organizations). Value Added Resellers (selling healthcare-related solutions to hospital organizations). Computer and Communication Hardware Vendors (provide computer and communication software, hardware, and services to the healthcare industry). This group of channels, organized to create higher net revenue, will be resellers of HAMS.
They will assist in marketing and selling HAMS to local hospitals, clinics, pharmacies, and laboratories that desire to take advantage of the benefits HAMS has to offer. The advantages of utilizing distributors is that they are already providing solutions to the primary target market and can easily penetrate these organizations to provide HAMS as their Intranet application solution of choice. The cost to support these channels is minimal for the amount of return for immediate market exposure they will provide for HAMS. Independent Representatives Independent Representatives are sales people under contract to market HAMS.
They are extensions of the direct sales team, with the added advantage of reaching clients in various service areas that the direct sales team cannot or have not approached. They receive no salary and earn only from commission based on the level of support provided for every sale they complete. Like distributors, the advantages of utilizing independent representatives is that they are already providing solutions to our primary target market and can easily penetrate these organizations to provide HAMS s their intranet application solution of choice.
The cost to support this channel is minimal for the amount of return for immediate market exposure they will provide for HAMS. Direct Sales Sales are done directly with hospitals, doctors, clinics, pharmacies, and laboratories utilizing company internal sales representatives. As opposed to distributor and independent representative sales, direct sales do not involve middlemen. Hospitals purchase HAMS from the direct sales team. The team identifies potential customers, contacts those customers directly, and sells the product to them firsthand.
As with arrangements involving distributors and independent representatives, direct sales involve educating the industry about HAMS-?therefore increasing Ham’s exposure. F. Marketing Goals Our Goals is to provide physicians and hospital staff access to critical and multiple sources of data, thereby improving their efficiency in caring for patients. In turn, this will improve patient care, increase patient satisfaction, and save time and operating costs. G. Marketing Objectives 1. The business goal is to obtain a 20% market share of the target hospital market in the Philippines within five years. . We will offer our software to healthcare-related industries including hospitals, third party administrators, insurance companies, etc. 3. We will sell our software, its services and professional consulting directly to accounts and through qualified resellers. 4. We plan to be profitable in 24 months and have the opportunity to sell the business at a 1 xx or higher multiple to another company or make an initial public offering. H. Marketing Strategies Our strategy for this market is straightforward: 1 . It is our desire to obtain a quick, referable install base. . Build relationships with neighboring hospitals. . Emphasize quick installations with high-quality service and support. Pricing Strategy The price of the product is 3 million pesos for the server software and 23,000 pesos per user of the software. User prices are then discounted based upon the volume of users. In addition to the software, we charge for interface programming, customization of screen design, installation, training, and maintenance of the product. These are billed at 7,500 per hour or 60,000 a day.