Expert answer:Marketing plan
Expert answer:Healthcare Marketing Plan on Home Blood Pressure Monitoring Device.I will attach the rubric and sample. please follow the rubric and sample. thank you.6-8 pages. Thank youhttps://www.slideshare.net/goodpromotionalpractice…http://www.strategyr.com/MarketResearch/Blood_Pres…http://www.heart.org/HEARTORG/Conditions/HighBloodPressure/KnowYourNumbers/Monitoring-Your-Blood-Pressure-at-Home_UCM_301874_Article.jsp#https://omronhealthcare.com/blood-pressure/https://myaccesshealth.com/best-blood-pressure-mon…
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Remote Patient
Monitoring with
Analytics:
The Right Care at the
Right Time
Background
• Allows remote, wireless interaction between patients
and clinicians
• Chronic diseases account for nearly 75% of healthcare
spending
• Early intervention saves lives and prevents costly quality
of life losses
• Drivers for products of this kind include
• Cost reduction efforts in healthcare
• An aging population
• Regulations that now reduce or eliminate payments
for hospital readmissions and complications
• Patient desire to stay in their homes
Target Market
• Physician office practices
• Insurance companies
• Hospitals
• Outpatient clinics
• Accountable Care Organizations/Medical
Homes
• Individuals
Positioning Statement
• SLC Analytics will be a market
leader and innovator in remote
patient monitoring and analytics,
enabling patients to lead longer,
more safe, productive lives and
allowing their caregivers peace of
mind and the ability to intervene.
Offering to Customers
• Providers: decreased readmissions to
hospitals, avoidance of unnecessary
visits to physicians and avoidable
complications, improved
communication
• Patients: avoidance of complications,
ability to stay in the home and receive
care, improved communication,
decreased costs
Price Strategy
• Pricing strategy will be
competitive in order to allow
greatest entry into the market and
community benefit
• Discounts on multiple products
and devices ordered
Distribution
• Units will be distributed through a
central warehouse to individual
sales representatives who will
assist providers and patients with
initiation of the system and
interface into existing computer
programs
Sales Strategy
• Purchasers will be assigned a
dedicated sales representative to
assist with all stages from
purchase to implementation to
follow-up and troubleshooting
Service Strategy
• In person strategy with 24/7 tech
support for patients and providers
via telephone or internet
• When manual repair is required,
dedicated to a quick turn around
time with loaner devices available
so patient care will not be
impacted
Promotion Strategy
• Promotion via:
• Television
• Social Media
• Medical, Quality, & Care Management
Journals
• Medical, Quality, & Care Management
Conferences
• Direct Mailings
• Introductory Pricing
Marketing Research
• Aging at home: 83 percent of Americans would like to stay in
their current home as long as possible.
• Acute care, post-acute care, and rehabilitation: Inpatient
hospital care represents the single biggest category of U.S.
medical spending, accounting for nearly one in three dollars
spent.
• Chronic disease management: Today’s chronically ill patients
are more tech savvy today, open to technology solutions
Conclusion
• Remote patient monitoring with analytics has the potential to
reduce spending and complications, while enhancing provider
and patient relationships and satisfaction
• This new, innovative product goes one step beyond previous
products by not only providing data, but analytics and decision
support
• In the wake of today’s healthcare climate and legislation,
utilization of this product will assist both patient and provider
experience
Each student will develop and submit a marketing plan for an individual product or service offering
associated with the health care industry. You are presenting to a group of potential investors or senior
managers so insure your presentation is compelling and interesting enough to be convincing.
Marketing Plan
Below Standard
6 points
Average
9 points
Above Average
12 points
In-depth
15 points
Description of
product or service
Below Standard
The product or service
is not original and is
not targeted to a
specific market.
Average
The product or service
is original, could be
marketable and may
reach its target market.
Above Average
The product or service
is original and will
reach its target market.
In-depth
The product or service
is original, very
marketable and has a
high probability to
successfully reach its
target market.
Rationale for Chosen
product
Below Standard
Some conclusions are
drawn but no real
reasons are given.
Average
Conclusions are
pointed out but no
reference to research
as to why it might be a
success.
Above Average
Conclusions are drawn
and references to
research clearly show
the evolution of the
idea.
In-depth
Conclusions are clear.
They point
specifically to the
research with
references to why,
what and HOW the
product/service should
be successful.
Organization &
Information
Below Standard
The information is
disorganized and
difficult to understand.
Average
The information is
organized, but not
easy to understand.
Above Average
Information is
organized with well
constructed concepts
that build on each
other and follows the
outline.
In-depth
The information is
extremely well
organized with
concepts that work
extremely well
together and moves
towards a successful
outcome.
SWOT Analysis
Below Standard
The plan attempted to
develop a SWOT
analysis.
Average
The plan contained a
SWOT analysis,
however it was
unclear in
inconclusive.
Above Average
The plan clearly
identifies most
Strengths,
Weaknesses,
Opportunities and
Threats of the product
or service.
In-depth
The plan clearly
identifies almost all
Strengths, Weakness,
Opportunities and
Threats of the product
or service.
Promotional
Elements
Below Standard
Although attempted,
does not clearly
communicate the
product or service.
Average
Report attempts to
communicate a
promotional
campaign.
Above Average
Uses one or more
persuasive techniques
that present the
product/service to an
intended audience.
In-depth
Uses a variety of
persuasive techniques
that clearly presents
the product/service to
the target market.
Overall Presentation
of Report
Below Standard
Overall the report was
poorly planned and
did not look
professional.
Average
Overall the report is
well designed and
professional – however
did not have graphics,
tables and other visual
aids.
Above Average
Overall the report is
well designed and
very professional with
a good use of
graphics, tables, charts
and other visual aids.
In-depth
Overall the report is
extremely professional
with an excellent use
of graphics, tables,
charts, color and other
visual aids.
The Marketing Plan will consist of the following components:
•
•
•
•
•
•
Introduction of your Product
Situational Assessment and Analysis (including information about the industry your
product or service will be introduced in, your competition and a SWOT analysis
Marketing Strategy
Proposed Cash Flow analysis (this of course is based on how you think your product or
service will perform
Proposed Implementation Plan
Controls (How will you measure the success of your product or service when you report
back to management)
❖ Background
❖ Target Market
❖ Positioning Statement
❖ Offering to Customers
❖ Price Strategy
❖ Distribution
❖ Sales Strategy
❖ Service Strategy
❖ Promotion Strategy
❖ Marketing Research
❖ Conclusion
Running Head: MARKETING PLAN
1
Marketing Plan – Johnson and Johnson
Johnson and Johnson, Inc. (J&J) is an American-based multinational that deals in
pharmaceuticals packaged consumer goods (PCG) health care products and medical devices.
The paper will, however, focus on the company’s health care products in a bid to develop a
marketing plan for the same. Particular attention will be given to the identification of a target
market then seek to describe its demographics. Finally, the paper will complete an internal
and external SWOT analysis of the organization.
Target Market
Seven of J&J’s franchises are involved in the manufacture of health care products.
They fall into the categories of oral health care, skin and hair care, baby care, Nutritionals,
wound care and topical, over-the-counter medicines (OTC) and Women’s health. They aim at
reducing fevers, relieving muscle pain, checking allergy symptoms, keeping babies clean and
healthy, hasten wound healing and ensuring a healthy diet. The consumer health care
products thus target babies, adolescents, adults and the aged in society. The marketing plan
will, therefore, seek to address these target market segments of the population (Johnson and
Johnson, 2016).
Demographic Description
J&J’s consumer healthcare products are adequately tested and thus approved for use
by individuals in all the age brackets (1 day old and beyond). However, some of the health
care products are preferentially made for the female gender such as the Rogaine brand and
Clean and Clear brands. Others are exclusively made for babies while others have no age
limitation like the oral health care products. Consumers tend to relate to J&J health care
products owing to its reputation and quality assured products.
MARKETING PLAN
2
SWOT Analysis
SWOT standards for strength, weaknesses, opportunities, and threat factors in any
business and that either affects its operations directly or indirectly. The following table,
therefore, comprise a SWOT analysis of J&J, Inc.;
Table 1: SWOT Analysis of J&J, Inc.
Internal Strengths and
Strengths
Weaknesses
Weaknesses
1.
J&J has a relatively
internal weaknesses
position considering
are evident in the low
its vast sources of
output of research
income; hence
and development
capital, and its
(R&D).
2.
The company is
The company has a
over-reliant on small
diverse business
molecules drugs
offering drawing
which make them
from the seven lines
vulnerable to generic
of consumer health
competitors.
care products.
3.
The company’s
high financial
growing assets.
2.
1.
3.
The extensive
The company’s
product portfolio
sustainability and
could generate
citizenship goals
internal management
indicate its
conflicts especially if
MARKETING PLAN
3
forecasted growth
the mergers and
that is equally aimed
acquisitions are not
at increasing the
adequately settled
company’s revenue
(Colon, 2016).
base.
External Opportunities
Opportunities
Threats
and Threats
1.
There is the
A common threat to
possibility to merge
the company
existing products or
includes the failure
create new ones and
of its growth
provide efficient
forecasts to
solutions to emerging
materialize as
health care issues
planned.
through the leverage
2.
1.
2.
There are
of consumer health
unpredictable
divisions (Colon,
regulatory measures
2016).
following a product
The company has an
launch, as well as, its
opportunity to
direct uptake by
expand its
consumers.
capabilities in the
3.
The company also
discovery of
faces a threat of new
biologics.
entrants. However,
the high barriers to
MARKETING PLAN
4
3.
The dwindling
entry may delay their
sources of capital for
establishment
most biotech firms
(Parmar, n.d.).
will give it an upper
hand to diversify
considering its robust
financial sources.
4.
The increasing
literacy levels around
the globe is poised to
lead to increased
individual concerns
about health and
medical issues. J&J
has an opportunity to
gain from this.
…
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