Question:
Mission
The group (or firm, company etc.) provides home care physician services to elderly and physically challenged patients all over the United States. We provide a comprehensive set of services with the help of expert physicians. Our aim is to provide all the services that a patient may need as a part of treatment at their location. Our team members and the physicians treat the patients as their own family members and interact friendly and cordially.
The primary revenue stream of the company comes from the service charges paid by our patients. We believe in the unique value of private and home-based care for the patients who cannot move to other places due to old age or disability and want to become the market leader in this area by providing excellent quality of service.
Marketing Objectives
As a result of the marketing program, we should be able to secure a 20% market share (20% of the households of the total number households available for the service delivery in the industry of home care for the elderly patients and patients with disabilities) in the first year. We will be promoting the service at almost all the major cities of the United States and we have a plan to have listed at least 2500 households listed for our service for the first year.
Financial Objectives
In the first year of operations, we have kept a target of total Revenue of $1.5 Million. We will be charging a flat $600 for the yearly service to the households listed for our service through the marketing campaigns in the entire United States.
Profitability Objectives
Our objective is to secure a contribution margin of 25% to 35%. Due to marketing expenses and other relevant fixed costs in the initial year, we will not be able to secure a positive net profit in the first year. We will target to limit the total loss of the first year to $10,000. For the expected loss, we will not be paying the interest to the borrowed sum in the first year of operation and will apply to the lenders for a moratorium for the first year.
Target Markets
The group's primary target markets will be the elderly patients and the patients having physical disabilities. However, in order to expand our reach and increase the revenue stream, we will not limit our services these groups of patients only and will provide services to all patients whoever intends to have home based service from us.
Positioning: The positioning of homecare doctors and physicians is such that they provide the best quality & cost effective service for the target market of home patients, and have a quality service that would not let the patients miss the doctors & hospital services. The homecare doctors and physicians would use top technology tools to take complete diagnostics, and treatment from homes.
Strategies
Reskilling of physicians and letting selection based on multitude skills that may address wide variety of patients' needs, say from childbirth to chick pox etc.
Competitive Strategy would be around the service quality of different home doctors. Additionally, it would involve how fast home care doctors, and physicians treat compared with regular doctors
Marketing Program:
Pricing: The homecare package should be creative on pricing. It is structured on a mutual win-win package. The package plan would be more economical than that of hospital. It should include medicines, as well as other add on health benefits. The package should be integrated. The pricing would encourage bulk booking for two-three months.
Distribution: The delivery mechanism would be such that it could be flexible. Also distribution should incorporate emergency services, diagnostics and other services as present in a hospital in the homecare package:
Advertising & Promotion: The Advertising and Promotion would be more of an active media. The Advertising would happen also through word-of-mouth. Also the homecare network could share testimonials, as this would help those patients, who'd have a mindset to start an old fashioned process.
Customer Service: In order to remove bias in customer service, home call doctors and home physicians need to be affiliated to a neutral hospital care, or institutional service.
Marketing Research: Research done on the following areas that could help make home physicians and home doctors a distinct channel as distinct as the organized healthcare channel.
What is the demand of home care in cities?
What kinds of illness require home care?
How is competition among panel of home care doctors?
What would the price advantage for homecare panel?
How would the demand for this healthcare channel be in next five years?
At a minimum, the Financials and Controls must include the following sections, correctly numbered, and labeled.
Answer the following question
5.0 Controls (This is the section heading, which includes an introductory paragraph.)
5.1 Implementation
5.2 Marketing Organization
5.3 Contingency Planning