5.1. Focus on Medical Expertise
BOOMERANG's core competency lies in the development of medically-based communications programs for the pharmaceutical industry. As experienced Internet users, BOOMERANG will capitalize on the market potential and communications benefits offered by this technological tool.
However, BOOMERANG is not positioned as an Internet provider, since other Internet providers to the pharmaceutical industry currently let the technology drive the offer. This results in sites of an archival nature that do not reflect the healthcare needs of pharmaceutical Internet site users and do not capitalize on Internet's potential for interactivity. BOOMERANG will therefore initially hire or subcontract the necessary expertise for the technical development of the broadcast medium that will serve as the delivery vehicle for the pharmaceutical communications programs BOOMERANG creates. BOOMERANG's positioning emphasizes its core service - 'medical communications programs which will always be demanded by pharmaceutical companies - while allowing BOOMERANG the flexibility to broadcast the medical communications message through the communications tools of the future, which in the long-term may or may not include Internet.
5.2. Development of the Medical Communications Services
BOOMERANG's four partners have the core competencies to both develop the content of medical communications programs and to sell them to the pharmaceutical industry.
To effectively provide its services, Boomerang will use the following plan to ensure that it has either to needed core competencies internally or access to external partners who do.
Firstly, a secretary will be hired immediately, who will be in charge of daily administrative tasks and will be able to personally respond to customer inquiries.
A graphic designer and a code writer will be hired during month six. The code writer will be an experienced programmer with a strong knowledge of the latest Internet programming technologies such as HTML, VRML, JAVA, and Shockwave. He or she will also be knowledgeable in IS issues so that the technical Internet site programming can be easily integrated into the pharmaceutical company's existing site. The code writer will assist the directors in creating coherent site architectures and will work in tandem with the graphic designer. This designer will have a degree in arts and expertise in computer graphics. He or she will be in charge of creating a strong graphical personality for each site based on the image the client wishes to convey. The graphical concept, site architecture, and site content will then be submitted to our subcontractors for technical execution onto the Web pages. This strategy leaves the control of the client firmly in BOOMERANG's hands.
A medical writer will be hired at month six of Year 1. He or she will be a medical editor, preferably an MD, with professional experience in the medical communications field. This will complement the medical knowledge of the pharmacist on the management team. This writer will assist Mr. Crassard in developing the medical content of communications programs.
At the beginning of Year 2, a pharmacoeconomist and a regulatory affairs specialist will be hired. The pharmacoeconomist will implement our service of extracting pre-launch quality of life information for post-launch broadcast over Internet. We have assumed that there will be no sales on this type of service in Year 2, but that in Year 3 sales will begin to be generated. This reinforces the principle of financial conservatism. He or she will be an experienced pharmacoeconomist knowledgeable about clinical trials procedures and quality of life issues. BOOMERANG has also entered into a partnership arrangement with PharmaSeek in the US, a Trial Management Organization (TMO) that can bring BOOMERANG needed clinical trials expertise.
The regulatory affairs specialist will assist us concerning legal constraints on drug communications that will be faced when we create a communications program that is designed specifically for each of the major pharmaceuticals markets.
With the mounting workload we will have by Year 4, we will hire a project manager to coordinate and assist us in implementing all of our projects so that regular services can be industrialized, which encourages economies of scale.
5.3. International Expansion
Since BOOMERANG's target clients are global pharmaceutical companies and our partners have pharmaceutical experience in multiple major markets, this will be a natural progression for us. Although we will begin primarily by targeting global pharmaceutical companies in Western Europe (France, Germany, UK, and Switzerland), the US will be a subsequent target.
5.4. Recurring Business
BOOMERANG has excellent prospects for landing projects early in the pharmaceutical product life cycle. Since BOOMERANG will extract quality of life data from clinical trials it will become a pre-launch actor. This will increase the likelihood that BOOMERANG will land projects early in the product life cycle, which will result in the potential for long-term sales and strategic partnerships with pharmaceutical product teams.
BOOMERANG is also excited about designing medical programs for Internet, since this is a medium that requires management and constant updating. BOOMERANG will therefore capitalize on substantial yearly maintenance fees for each project sold.
5.5. Sales Strategy
Barriers to entry into the service sector are typically low. It is for this reason that BOOMERANG will focus on the development of the following key success factors to ensure that it expands its penetration of existing clients and remains attractive to new clients:
5.6. Future Developments within Pharmaceutical Comm. Services
Since BOOMERANG is positioned as developers of medical communications program while utilizing Internet as a technological tool, BOOMERANG will have the flexibility to broadcast its message via the higher-impact, more innovative technological tools of tomorrow.
BOOMERANG has concretely identified Intranet as a business opportunity, since BOOMERANG's positioning as medical experts able to produce high-tech communications programs will provide business opportunities in this area. To realize this goal, BOOMERANG is currently establishing a partnership with NCTech in Lyons, France, who are specialists in Intranet site and network development. BOOMERANG will assist its clients in developing the medical content of an Intranet system that will link up with its Internet services. BOOMERANG will demonstrate to its clients the cost advantages of Intranet over traditional networks (see Chart 4) and also the added-value of having an electronic interface between the pharmaceutical company's Intranet and outbound/inbound communications to final customers via Internet. Since Intranet is a potential future development, it has not been included in the financial projections.
5.7. Future Developments Outside of BOOMERANG's Pharmaceutical Communications Division
New business developments in the medium-term will remain centered on communications services for the pharmaceutical industry; however, business opportunities outside of communications provide areas for future/long-term growth. BOOMERANG has set up a holding company structure that will give it the option for diversification moves in the future. Some of these diversification moves may include (for which BOOMERANG has prepared detailed, written market analyses) operation in the following business areas:
|Table of Contents||Appendices|
0. Executive Summary|
1. The Company
2. Market Characteristics
3. Market Analysis
4. Competitive Strategy
5. Company Strategy
6. Marketing Plan
7. Production Plan
9. Financial Analysis
Internet Site Study
Letters of Intent
|All information herein is confidential and proprietary to Boomerang.|