A REPORT ON MARKETING PLAN OF

MEDBOX

UNDER THE AEGIS OF

Submitted To: Submitted By:

Dr. SHASHANK MEHRA
SHOBHIT VAID
AMANPREET SINGH
JYOTHI BHATI
SAPNA
SHALINI
TINU A THOMAS
YAWAR MUEEN
INTRODUCTION
Electronic pill organizers, pill dispenser have been developed that alert patients when
their, prescription medication, OTC medication or daily food supplements must be
taken. These devices have been credited with saving lives and saving money in the
health care system. Advanced models can be linked via the Internet to a medical
facility, to aid in monitoring and reminding a patient to take his/her medications.

Pill dispensers are commonly used to serve medical purposes, as well as to help
individuals, be that the elderly or chronically ill, take their prescription medication,
OTC medication or daily supplements at a given date and time. There are automated
or electronic pill boxes that function to alert the patients when it is time to take their
medications.

FUCNTIONALITY
When the time comes to take the medication, the device automatically releases the
pre-measured dose into a small compartment that is easily opened and sounds a loud
signal that it is time to take the medication. If the patient doesnt take the medication
out of the dispenser door, the pill dispenser will send a signal to a monitoring station
who can contact the patient, family, or caregiver who can address the situation
DRIVING FORCES AND IMPLICATION FOR THE
COMPANY IN ORDER OF MAGNITUDE OF EFFECT

LIFESTYLE As nowadays people have busy lifestyles they sometimes forget

their medicines schedule. So its helpful for them

CONVENIENCE - As mainly this product is designed for the elderly people,

so it is easy to use as they do not have worry about which medicines to take and
at what time.

MAINTENANCE AND COMFORT It is very easy to handle as anyone can

fix the medicine time schedule accordingly and people do not have to worry
about the shortage also as it will be refilled by the connected medicine stores.

MARKET ANALYSIS

CUSTOMER NEED ANALYSIS

Key customer groups and their needs

1. SENIOR CITIZEN : - As senior citizen have the problem of forgetting their

medicine schedule, so it is providing them with the reminder to take medicines.

2. ILITERATE PEOPLE :- People who do not know how to read, with the
help of medicine box they can take correct medicines at the right time
without having to face any problem.

3. MEDICALLY CHALENGED: - Our product fulfills the need of the

medically challenged people like the people who are half paralyzed or
dont have an arm can use it conveniently for their daily consumptions of
medicines.
 4. FREQUENT MEDICINE CONSUMPTION PEOPLE :- Today there
are a huge number of diseases, medications and there are numerous
number of people who have to consume medicines frequently and on
specific time this box would help them to do this with ease and on time
with the help of its reminders.

5. NORMAL CITIZEN :- Our product is very useful for people with hectic
schedule or who frequently forget to take medicines on a regular basis due
to various reasons or their schedule as with the help of the alarm and
reminder they would take medicines on time and wouldnt skip their
medicines.

PRODUCT ANALYSIS

PRODUCT: - MEDICINE BOX BENEFITS

ACCURATE TIMING Medicines will be provided at time.

DIFFERENT MEDICINES It will store different medicines.

CONVIENT REFILLING It will be automatically refilled on a

Timely basis by the connected medical store.

DIFFERENT QUATITY It will also provide different quantity

According to the medicines of consumers
 TARGET SEGMENTS ON ORDER OF PROPRITY
(3500 PER PRODUCT AND TOTAL 100 PIECES =3, 50,000)

PRIME MARKET :- ELDERLY PEOPLE

The main focus is on the senior citizens. Those who are 50 years old and above
cause they are the main customers.

CHARACTERISTICS
1. Lifetime usage.
2. Scheduled medicine usage.
3. Helps to keep track of medicines taken throughout the day or in a week.
4. Multipurpose as it also contains first aid kit.
5. Portable.

SALES POTENTIAL = 90,000

SHARE ESTIMATE = 45%

SCONDARY MARKET :- NORMAL PEOPLE

The secondary focus is the people who are busy due to their life style or have
to take medicines on a regular basis on a specific time. Those who are in the age
group of 25 to 50.
CHARACTERISTICS
1. No problem in remembering
2. Reminders and alarm.

SALES POTENTIAL = 50,000

SHARE ESTIMATE = 25%
 TERITARY MARKET :- ILITERATE OR RURAL AREA
Under this market we are focusing on the illiterate people who does not know
how to read or have difficulties to understand the medicines and their schedules
etc.

CHARACTERISTICS
1. Providing convenience.
2. Make them more independent.

SALES POTENTIAL =30,000

SHARE ESTIMATE = 15%

PERIPHERAL MARKET :- MEDICALLY CHALLENGED

Under this market we are targeting the medical challenged or disabled people.

CHARACTERISTICS
1. Audio files are played about dosages.
2. Convenient in medicine dispensing.

SALES POTENITIAL = 30,000

SHARE ESTIMATE = 15%
RESEARCH
Currently no such product as automated medicine dispensing machine is
available. Our product is completely new product in the market. There are other types
of medicine box in which you can have your medicines but it is the simple one and
manual.
A pill organizer or pill container, or pill box is a special container for storing
scheduled doses of one's medications. Pill organizers usually have square-shaped
compartments for each day of the week, although other more compact and discreet
versions have come to market, including cylindrical and pen-shaped cases. Some
organizers have multiple sections, corresponding with different times of the day.

SWOT ANALYSIS
1. STRENGTH
Innovative
No competitor
Fairly cheap
Low maintenance
Multi purpose

2. WEAKNESS
Not well structured market
No awareness
No healthy competition

3. OPPORTUNITY
Untapped market
Can be used at various places
Useful to everyone irrespective of age

4. THREAT
Online medical supplies
Stagnant acceptance rate
New advanced competitors entry in the market
IDENTIFICATION OF THE COMPANYS COMPETITIVE ADVANTAGE

Competitive Advantage (Current)

Product Quality: A safe, reliable, easy to use product consisting of a well-

engineered design, quality workmanship, easy to follow programming, accurate
dispensing and uncomplicated use.
Technology: The Medical Box will employ technology to enhance as much of the
medication process as possible. This will reduce the amount of human error in
using the product.
Marketing and distribution: it is essential for the target market to be exposed to
the product via live demonstrations, doctor office visits or a friend in order to
remove the possible apprehension of technology.

To be developed:

Enhance Distribution: Distribution channels will be enhanced and

will target wider audience.

Go Global: after conquering domestic market we will go global.

Issues that the organization needs to address based on situational

analysis:

1. Innovative Product

2. Unstructured market

3. Unawareness about the product.

4. Unknown acceptance/ demand

5. E-Retailers and traditional medical boxes pose a threat.

 Mission

Medical Box is a home healthcare technology dedicated to enhancing peoples' lives by

bringing healthcare home. Medical Box provides home medical systems. These systems use
technology to ensure safety, ease of use, an independent lifestyle and a continuous
partnership with healthcare providers. Medical Box intends to seek a fair, yet aggressive
profit, which will allow the company to be financially healthy for the long term as well as
provide compensation to both owners and investors for their money and risk. They intend to
grow the business and to establish their brand as a product leader and innovator in home
healthcare devices. They intend to finance continued growth through a combination of equity
investment and internally generated cash flow. Medical Box will continue to develop new
product extensions once their marketing platform is established. Medical Box will maintain a
strong and cohesive work environment with a shared ethos and a passion to grow with the
intensity that only comes from belief.

Objectives

Overall:

1. To license its technology for the obliteration/suction/irrigation market for 1 million in

year one.

2. To become a market leader.

3. To expand worldwide.

Marketing:

1. To develop awareness about the product and benefits.

2. To educate the people about the usage of Medical Box.

3. Have a professional website, a well written blog, and an active Facebook page and Twitter
handle.

4. To demonstrate how the facility can deliver the best technology and the best patient experience
at the best price for the target market.
 Financial:

1. Increase sales to more than 24,000 Medical box units by Year 3.

2. Seven percent of units subscribed to monitoring and notification service by Year 3.

3. Have a market share of more than 75%.

Market Needs

The elderly often has multiple disease states and/or chronic conditions. They consume over
one-third of the prescription medications in India. The risk of hospitalization due to adverse
medication outcomes in elderly patients is estimated at 17%, almost six times greater than
that for the general population.

Cognitive impairment may play a major role in drug-related problems in the elderly, making
it difficult or impossible to correctly follow directions of appropriately prescribed
medications. Other factors include the lack of primary care provider help with medication
management; financial considerations that affect the purchase and regular use of
medications; and decline in vision that impairs the ability to correctly read directions. Nearly
67% of all patients fail to follow important dosage instructions for their medications. Thirty-
three percent of patients take all their medicine, 33% take some and 33% do not take their
medication at all. Some of the negative outcomes resulting from drug-related problems are:

Additional healthcare encounter.

Additional medication.

Emergency department or Urgent Care visits.

Allied health professional visit (e.g. dietitian, physical therapist).

Additional laboratory or radiology procedure.

No treatment.

Death.
The main customer need is medication compliance. In order for compliance to occur,
medication needs to be more easily organized and administered. The Medical box will
address this need.

Market Trends

The population in India is generally becoming older and is projected to continue to do so.
The reason for this is three fold. First, improvements in medication (both numbers and types)
and general healthcare has extended the average life-span of Indians to 68.35 years 2015.
Indias average life span has increased by approximately six years over the past half-century,
and it is expected to continue to increase in the future (at a lower rate). Second, people have
taken more self-interest in their health, and thus found ways to prolong and enhance their
lives. Finally, the young generation, the largest single group in the U.S., is approaching 65
years of age.

MARKET TREND ANALYSIS

The population in India is generally becoming old and is projected to continue to do

so.
Improvement in medication and health care has extended the average life span of
Indians to 68.35 years in 2015
Market Growth

There is little doubt that the population in India is aging. The India Census Bureau estimates
that the mean age of the population will increase from 26 to 29 years during the period of
2015-2020. This increase can be partially attributed to their estimates that the 65 and over
segment of the population will grow approximately 1% each year from 2015-2020. The
current ageing growth from previous census is 35.5% and currently stands at 15.39 crore, all
potential Medical box users.

Service Business Analysis

The medication compliance industry is extremely fragmented. The market consists of small
companies selling both traditional pill dispensers and organizers. There are no major medical
device companies making or distributing devices similar to the Medical Box. The consumer
is generally unaware of available options, especially electronic products. These consumers
rely on expert advice from their physicians and pharmacists when making a purchasing
decision.

Competition and Buying Patterns

In the home medical device market, buyers rely on expert advice when making a purchasing
decision. These experts are their primary care physicians, their pharmacist and their
healthcare insurance provider.

Consumer awareness of automated pill dispensers is extremely low. 98% of the

respondents in OUR market research indicated that the Medical Box was unique. Consumer
awareness of the plastic pill holders (the seven compartment ones marked Sunday through
Saturday) is high. These holders are sold through a variety of means including mass retail
outlets like Big Bazaar, Wal-Mart.
Main Competitors

Medical Box faces little competition on in the medication compliance market. The potential
competitor are reminder devices, traditional medication boxes and e-medicine providers. The
most important competitor to be considered is traditional medical box. Its strength is that it
has a similar product in the automated medication dispenser and compliance service market.
Its weaknesses are it is manual, limited dosage days, and its weak marketing and distribution
channels. This makes it vulnerable to a new, improved entry.

Marketing Strategy

Marketing will follow from industry/trade, and physician/pharmacist awareness campaigns to

specific executions directed at specific customer segments. Once the product has gained
acceptance by individuals and care providers, Medical Box will initiate the second phase of
their marketing strategy. Stage 2 will comprise three steps.

1. Cast wider sales net over healthcare providers.

2. Begin advertising campaign focusing on the elderly.

3. Facilitate and rely on a strong word-of-mouth campaign.

Distribution Strategy

Medical Box production will be outsourced to a contract manufacturer. Once an order is

placed with Medical Box, their order-taking system will automatically notify the production
company regarding shipping details. Software using Internet technology will provide an
efficient mechanism for streamlining the ordering, production and delivery process.
Their product will initially be shipped directly from the contract manufacturer at the
customer's expense. The Medical Box manufacturer will include receipts, instructions and
other Medical Box literature.

Once the Medical Box requires distribution to a wider array of buyers, Medical Box will
consider a separate distribution center(s) to handle additional demand.

Marketing Programs

Specific marketing programs for Medical Box and the Medical Box remain to be developed.

Pricing Strategy

Medical Box plans to price the Medical Box at 3500 in order to encourage both medically
insured as well as non-insured consumers to buy the product. The Medical Box Monitor and
Notification Service is priced at 450 per month.

Promotion Strategy

Public relations and industry media will help in Medical Box's over-all industry awareness
plans. Feature articles and product reviews will help launch awareness. Direct mail to buying
and influencing groups and ads in trade and consumer target publications will help with
buyer impressions.

Medical Box will work closely with physicians and home nursing professionals to design its
product and services. The importance of working with physicians is well known. As an
outgrowth of their Physician, Pharmacist and Home Nursing Advisory Board, Medical Box
will actively recruit physicians, pharmacists and home nursing professionals with sponsored
events and seminars.
STATEMENT OF INVESTMENT NEEDED

1. CAPITAL FUNDS
The initial funding would be done by us only. The initial capital is planned to
be Rs.5,00,000. And on the later stage we would get invested from outside in
order to develop our business.

2. HUMAN CAPITAL
During the starting our team would be handling all the process and fuctions to
be done for our product.

3. EXPENSES (in INRs)

CAPITAL IN HAND = Rs. 5,00,000

R&D = Rs. 50,000

Production (100 units) = Rs.1,80,000
Advertisement = Rs. 1,20,000
H..R & other expenses = Rs. 50,000
Application = Rs. 50,000
Reserve = Rs. 50,000

EXPENSES

APP R&D
10% 10%
RESERVE
10%
HR & OTHER
10% PRODUCTION
36%

ADVRT
24%
BUDGET

CAPITAL IN HAND = 5,00,000

R&D = Rs. 50,000

Production (100 units) = Rs. 1,80,000

EXPENSE OF SINGLE UNIT

Raspberry micro computer = Rs. 1300
Led display = Rs. 100
Cables = Rs. 20
Voice module = Rs. 200
Plastic box and other material = Rs 100
Acquiring cost = Rs 10
Packaging cost = Rs. 20
Other expenses = Rs. 50

Advertisement = Rs.1,20,000
Digital advertisement = Rs. 50,000
Transit Advertisement = Rs. 70,000

H..R & other expenses = Rs. 50,000

Application = Rs. 50,000

Reserve = Rs. 50,000

 ORGANISATION STRUCTURE TO CARRY OUT STRATERGY

MANAGING DIRECTOR

PRODUCTION
ADMINISTRATION
BUSINESS

MANUFACTURING SUPPLYCHAIN
AND PACKAGING MANAGEMENT

FINANCE HR

MARKETING SALES ADVERTISEMENT

MARKET REVENUE AND EXPENSES FORECAST

TATICS
Tactics have traditionally been summarized in four variants
Price
Promotion
Product
Place

1. Product/ service
Description
Sales forecast objective to sale
Objective
Position- it is a supplement to their medical need to provide
Opportunity- unique medical service and it can be used by all
Threat- people are unaware of the technology.

2. Price
Objective is to cut cost at Rs. 3000
Cost to sell the product at Rs. 3500
Pricing strategy market piercing

3. Promotion
Communication personal selling and advertisement
Objective we will target towards the primary market
Budget we will use percentage method i.e. 30%
Media - digital advertisement, transit advertisement

4. Sales force
Objective create awareness about the product
Budget
structure
territories
reward structure 25 % of profit to distributors
5. Distribution
Objective - make it available everywhere
Channel member
o Production
o Distributor
o Retailer
o Consumer