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Boomerang – Marketing Plan
6.1. Range of Pharmaceutically-Based Services
6.1.1. CORE SERVICE: Adaptation of Pharmaceutical Product Information to Internet
This is BOOMERANG’s CORE SERVICE. The core service consists of adapting product information to an interactive format that is designed for an interactive communications technology such as Internet. The interactivity of the sites will be maximized through the use of electronic questionnaires and chat rooms. BOOMERANG will offer product communications packages designed specifically for the practitioner and the patient. BOOMERANG will create additional added-value by creating versions of the sites that are adapted to the regulations and languages of each major pharmaceuticals market.
6.1.2. COMPLEMENTARY SERVICE: Development of Interactive Medical Education/Training Programs for the Internet
BOOMERANG will develop on-line medical education programs targeted to practitioners and for broadcast on Internet. BOOMERANG will also arrange for the provision of on-line Continuing Medical Education (CME) credit to practitioners. These credits are precious to medical practitioners since many countries legally require medical practitioners to earn these credits on an annual basis.
This service will also create the opportunity to develop dedicated, electronic networks of medical specialists. With the rapid computerization of practitioner offices (in France, all doctor’s offices will be required by law to have computers and modems by the end of 1998) in major Western European pharmaceuticals markets, medical networks will become a prevalent means of efficient communication between medical practitioners. It is in the interest of pharmaceutical companies to sponsor electronic networks of practitioner specialists (either with a direct link to the pharmaceutical company or in collaboration with medical associations) who will be positioned to support each other’s medical needs and interact with the pharmaceutical company in so doing.
6.1.3. COMPLEMENTARY SERVICE: Extraction of Patient “Quality of Life” Information from Clinical Trials for Internet Broadcast
This service will be the extraction of patient quality of life data from clinical trials. BOOMERANG will hire a pharmacoeconomist to extract this information from clinical investigators who are conducting the clinical trials. This data will both be used to enrich the Internet communications programs being broadcast to the patient, and will also provide clues to the pharmaceutical industry concerning possible additional product indications.
6.1.4. Products for Sale to Pharmaceutical Companies Derived from the Services Above
BOOMERANG has combined elements of our services to create the product packages that are listed below:
- Internet site targeted specifically to practitioners (restricted area with secured identification)
- Maintenance of the Internet site targeted specifically to the practitioner
- Internet site targeted to patients/general public
- Maintenance of the Internet site dedicated to patients/general public
- Global Internet site which includes areas dedicated to practitioners and patients/general public
- Maintenance of global Internet site dedicated to practitioners and patients/general public
- Development of on-line Medical Training/Education Programs
- Extraction of Quality of Life information from clinical trials
We propose the above products because each pharmaceutical company client will be able to custom-tailor their Internet site depending on their target audience. Moreover, some of them are specialized in OTCs and others in Ethical drugs. If they specialize in OTCs, the patients/general public will likely be their first focus, whereas companies that sell mainly Ethicals will likely focus on practitioners. Companies with a global marketing mentality may choose to focus on practitioners AND patients/general public to capitalize on the combination of a push-pull strategy.
The maintenance of these sites consists of updating the medical content, improving the graphical design, and updating the programming technology.
6.2. Pricing Policy
Since BOOMERANG’s global pharmaceutical company clients are fairly uniform in their purchasing process with respect to externally-developed communications programs, BOOMERANG’s pricing, promotion, and distribution strategies will not change from client to client among the major pharmaceutical companies. However, if BOOMERANG decides in the future to also target medium-sized pharmaceutical companies, this would necessitate adjusting the prices downward, but this will be achieved through a reduction in the quantity of and not in the quality of the service provided. BOOMERANG will not negotiate on price for a stated service, as a reduction in price will cause a reduction in the quality of the service, which will damage BOOMERANG’s reputation in an industry that demands the finest quality.
Despite several commercial opportunities, BOOMERANG has deliberately remained in the market study stage to ensure that its offer is coherent and has long-term sales potential.
When BOOMERANG moves to launch all sales will be prospected for and concluded by the directors during Years 1-3. Beginning Year 4, a project manager will be hired, who will be trained to identify the needs of existing clients and implement resulting programs. Responsibility for developing new clients will remain in the hands of the directors until Year 5, when the project manager will also begin this activity based on his/her experience. The sales process, in general, will follow these steps:
- Step 1: The needs assessment/audit
- Step 2: Program development
- Step 3: Presentation of the program and budget to the client
- Step 4: Modification of program based on client suggestions
- Step 5: Acceptance of program proposal and budget by client
- Step 6: Implementation of project
- Step 7: Maintenance of project
All of these steps have been integrated into the cost of service structure.
6.4. Creating and Maintaining Customers
BOOMERANG has already created customer prospects within the pharmaceutical industry who have a stated interest in our concept and services. BOOMERANG is budgeting for extensive client contact to both extract the precise client needs and to develop a custom program that fits the identified needs.
To attract new clients within a single company, BOOMERANG will not rely on hard-sell tactics, but will instead rely on word-of-mouth between product managers. This is a professional sales technique much respected in the pharmaceutical industry, which is often bombarded by external commercial requests.
|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.|