BMBA5021 University of Louisiana Mobile Pharmacy Marketing Plan Executive Summary I have attached a word document with the following information needed. I

BMBA5021 University of Louisiana Mobile Pharmacy Marketing Plan Executive Summary I have attached a word document with the following information needed. I will also share my previous MP1 as to follow along. BMBA5021 Executive Summary Assignment (Individual 100 points), executive summary of
Marketing Plan, with exhibits.
This is a formal paper that should be no more than 2 pages in length. Errors in grammar and spelling
will count off 1 point each. 10 errors will cause the paper to be rejected as a 0. The executive
summary should be written in paragraph form, and exhibits are separate from the 2 page limit. I will
grade the first two pages, so make them full of information. Putting everything in 6 point type and
failing to summarize will show me that you really aren’t capable of determining what’s important
and result in a large point deduction, so don’t do it. The marketing plan/executive summary should
look neat and professional, but formatting is up to you. Put all exhibits at the end of the paper, in
order (28 points, plus 6 points for digital budgets and plans).
(8) Paragraph 1 should introduce the business, and summarize the situation analysis. Exhibits should
include your SWOT analysis table, and 1 page with your mission, goals, and objectives. Review the
situation analysis from your group scavenger hunt forum and MP1.
(12) Paragraph 2 should define your market segmentation, market targeting, and positioning
strategies. (See Chapter 4, and Dr. S. Segmentation and Positioning slides). Exhibits should include
a positioning map with one determinant attribute and one important attribute, with your firm and at
least two competitors. You should include an exhibit with an estimate of market potential. (Review
Chapter 4 and Dr. S. Slides.)
(20) Paragraph 3-4 should summarize/synthesize all your traditional four Ps strategy, including
product and delivery, pricing and promotion strategy. The exhibits should include the 4Ps table with
brief descriptions of multiple decisions for each P. Also include a pro forma income statement for
the first 3 years. You may also include exhibits for any other analyses you deem relevant (Review
Chapters 2, 5-8 and Dr. S. Slides.)
(4) Paragraph 4 should document your digital marketing strategies, explain how they fit into the
context of your Promotions above, and include exhibits for a budget and rough media plans for the
first 3 years (6 points (included in exhibits above) corresponding to the proforma income statements
above).
(6) Paragraph 5: Include a 1 paragraph scenario analysis. Assume that by year 3 you will have some
competitors for one product. Intelligence predicts that if you maintain price, your competitors will
start to beat your price and you will lose about 18% of sales, from $100,000 to $82,000. If you
reduce price by 10% there is a 60% probability that your competitors will beat your price reduction
causing you to sell 10% fewer units than expected with reduced price sales of 81,000. Alternatively,
there is a 40% chance that competitors will not match your discounted price, and reduced price sales
will increase by 20% to 108,000. What should be done and why?
(16) Paragraph 6 should be a summary/conclusion stating key issues for the business and how the
marketing plan addresses them. Some of these may be related to your goals and/or objectives.
Exhibits should include a reference list from your research in the scavenger hunt.
With regard to this assignments, here are some rules: Assignments will be turned in through
Turn-it-in, and checked for plagiarism. DO NOT CUT AND PASTE FROM THE INTERNET!
Plagiarism will not be accepted for course credit. Avoid fluff. Fluff is stating generalities that are
meaningless such as, “If we do a great job of marketing, our business will be successful.”
For each marketing concept or strategy you write about within a topic, a good practice is to make
a statement about how you will use the topic, and give 1 or 2 examples from your service
business. For example, “The post-purchase stage of service consumption includes evaluation of
the service and intentions to repurchase. In the case of our service business, consumers will
evaluate whether the resort was clean, and whether they intend to return or whether they intend
to purchase additional services such as tours during their stay. Because of this it is important that
we keep the resort clean and communicate the available services during their stay.”
Help with the Marketing Plan Assignments
Each topic will be graded approximately (depending on the number of points) according to the
following criteria:
25%, there is some appropriate content there, but there are major flaws
50%, the required content is correctly applied (not just that you used the word, you have applied
the content correctly).
75%, the required content is thoughtfully applied and is logically appropriate to the
scenario/situation analysis and consistent with your previous decisions (internally consistent).
100%, it is logically clear that you have made good marketing decisions consistent with the
whole of your marketing plan.
1+ points extra credit, outstanding work has been done.
Logic is required, fluff is ignored or penalized. A suggestion for dealing with content in the
marketing plans is as follows:
1. State how the content relates to the situation
2. Make 1-2 decisions regarding that content
3. Give examples.
Here’s an example:
The important attribute in legal services is loyal representation. The determinant
attributes are likely to be reputation and awareness. If I want to be the attorney
for auto accident victims, I should advertise that I am the lawyer to call in an
injury case and that I will get money to compensate you for your injury.
The marketing plan assignments give you a chance to apply what you have learned and give you
practice making and justifying marketing decisions. They also are a kind of essay-type learning
assessment. All writing should be in grammatically correct English. One point will be deducted
for each grammatical error. This is NOT a joke. Be sure to allow a little extra time before the
deadline for submission through Moodle or Turn-it-in. You should be able to resubmit, so you
could submit a draft, check for plagiarism, and then update with a final, proof-read version. I
expect you to do your own writing. Please feel free to have someone else proofread your paper.
If you have any trouble submitting papers through Turn-it-in, you may email them to me as a
back-up.
BMBA 521 Term Paper Citation/Referencing Format
This information was copied and adapted from the manuscript submission guidelines
for the Journal of Marketing available at
http://www.marketingpower.com/content1531.php#manuscript.
General Reference Guidelines
References are to be listed alphabetically, last name first, followed by publication date in
parentheses. Use full first name, not just initials. The reference list should be single
spaced within a reference but double spaced between each entry. Use hanging indents.
The reference list is not intended to serve as a bibliography; all unnecessary, redundant,
or tangential references should be eliminated. Each reference should be cited in text at
the appropriate place. Do not include uncited works in the reference list.
For citations of up to three authors, list all author names; for four or more authors, use the
first author’s name followed by “et al.” (no italics). A series of citations should be listed
in alphabetical order and separated by semicolons: (Bettman and Sujan 1987; Donnelly
and George 1981; Kinsey 1960; Wensley 1981).
Citation in the text should be by the author’s last name and year of publication, enclosed
in parentheses without punctuation: (Kinsey 1960). If the citation is at the end of a
sentence, it is placed inside the period ending the sentence. If you use the author’s name
within the sentence, there is no need to repeat the name in the citation; just use the year of
publication in parentheses, for example: The Howard Harris Program (1966)…. For
direct quotes, place the page number within the citation: (Kinsey 1960, p. 112).
Reference List Style
1. Single- and multiple-author references for books: List author names, including
first names, publication date, book title in italics, place of publication, and
publisher name:
Donnelly, James H. and William R. George (1981), Marketing of Services.
Chicago: American Marketing Association.
2. Single- and multiple-author reference for periodicals: List author’s full name,
publication date, article title in quotes, unabbreviated name of periodical in italics,
volume number, issue designation (month, season, or number), and page numbers:
Wensley, Robin (1981), “Strategic Marketing: Betas, Boxes, or Basics,”
Journal of Marketing, 45 (Summer), 173–82.
3. Single- and multiple-author reference for an excerpt in a book edited by another
author(s) or a proceedings: List author names, including first names, publication
date, article/chapter title in quotes, book title in italics, volume number, editors,
place of publication, publisher name, and excerpt page numbers:
Bettman, James R. and Mita Sujan (1987), “Research in Consumer
Information Processing,” in Review of Marketing, Michael J.
Houston, ed. Chicago: American Marketing Association, 197–235.
McFarland, Richard G., Janice M. Payan, and James M. Bloodgood
(2003), “Chain Reaction Behaviors in Channels of Distribution,” in
Enhancing Knowledge Development in Marketing, Vol. 14, R.
Bruce Money and Randall L. Rose, eds. Chicago, American
Marketing Association, 221–22.
4. If an author appears more than once, substitute three em dashes (this will
appear as a one-inch line when typeset) for each author’s name (do not use
underlines):
Simonson, Itamar (1989), “Choice Based on Reasons: The Case of
Attraction and Compromise Effects,” Journal of Consumer
Research, 16 (September), 158–74.
———, Allen M. Weiss, and Shantanu Dutta (1999), “Marketing in
Technology-Intensive Markets: Toward a Conceptual Framework,”
Journal of Marketing, 63 (Special Issue), 78–91.
5. If two or more works by the same author have the same publication date, they
should be differentiated by letters after the date and alphabetized according to the
first word in the article title. The letter also should appear with the citation in the
text:
Day, George (1981a), “Analytical Approaches to Strategic Market
Planning,” in Review of Marketing, Ben Enis and Kenneth J.
Roering, eds. Chicago: American Marketing Association, 89–105.
——— (1981b), “The Product Life Cycle: Analysis and Applications
Issues,” Journal of Marketing, 45 (Fall), 60–67.
6. References to unpublished works, such as doctoral dissertations, presented
papers, research reports, and working papers, should be included in the references
list. The words “report,” “working paper,” and so on, are not capitalized unless
the work is part of a numbered section. Include information about the sponsoring
university or organization, such as name of department, college, university, and
city/state.
Coughlin, Maureen (1980), “Fear of Success: Reaction to Advertising
Stimuli and Intention to Purchase,” doctoral dissertation,
Department of Marketing, City University of New York.
Ellison, Glenn (2005), “Bounded Rationality in Industrial Organization,”
paper presented at the 2005 Econometric Society World Congress,
University College London (August 19–24).
Friedman, Jamie, Thomas P. Berquist, Chris Debiase, Steven Kahl, and
Cheng Lim (2001), “Technology: B2B Software,” research report,
Goldman Sachs (February 23).
Kwerel, Evan and John Williams (2002), “A Proposal for a Rapid
Transition to Market Allocation of Spectrum,” Working Paper No.
38, Office of Plans and Policy, Federal Communications
Commission.
7. Web sites and URLs: List author names, including first names, publication date,
title of page on Web cite in quotes, date material was accessed in parentheses, and
the full URL of the actual Web page.
Smith, Julie (2004), “I Am a Marketer,” (accessed June 26, 2004),
[available at http://www.marketingscool.com].
Brittany Ellerbe
BMBA 5021 – 43112
MP1 Executive Summary
Introuding our business, Mobile Rx, a mobile pharmacy that will serve patients at home
with their medications needs and routine care. Our mission statement, “To provide a convenient,
traveling alternative for dispensing medications and providing healthcare services to patients as
they continue their journey to better health.” Mobile Rx will have an application that is available
for download through the iOS and Android systems. With this application, patients can fill their
medications from their home and have them delivered to them. This application would have a
question and answer base for common questions. It will have a live chat to assist patients who
have questions/concerns. Last, the app will contain drug database, that will have information
about the medicine the patient is taking, its side effects, etc. During, our home visits we will
perform clinical routine work. These routines will consist of a temperature check, blood pressure
check, vital signs, and weight check. Our goal is to provide outstanding health services to
customers who will choose us as their source of fulfilling their medications needs. Also, the
needs of routine care to these customers. Our values are caring, integrity, innovation, and trust.
Our SMART objective is to launch our business by January 2020, and serve local patients with
filled prescriptions, routine care, and health related products and services. Increase our customer
base by taking on 40% of current pharmacy patients in local markets by January 2021.
Concluding, our goals you can find our SMART objectives in Figure 1-1.
The pharmacy industry is very competitive. Pharmacists are expected to grow by six
percent during 2016-2026. As we introduce our business, we have already accepted our
competitors. Our competitors would be retail pharmacies, drug stores, and in/out-patient
pharmacies in hospitals/clinics. The big brand retail pharmacies are CVS Health/Pharmacy,
Walgreens, Walmart, and Rite Aid. Some of our other potential competitors could be Uber,
Amazon, and GetMyRx. Our competitors’ strengths are they are well known brands. They have a
strong presence in the community. They operate globally, with a strong performance in the
market. They offer a variety of health and lifestyle products. Our competitors also possess
weaknesses, such as being limited to the USA. All of them have an easily copied business model.
In fact, they all are similar amongst each other. Amazon itself is almost similar to Ebay. Another
weakness is they are only implementing certain business strategies in big cities. This can limit
the potential profits and customer base.
Inside the pharmacy industry, patients are valuable. Patients are the reason the pharmacy
industry exists. In the market, customers are having a negative outlook on the pharmacy industry.
One reason is because customers have expectations, they expected to be treated one on one rather
than a standardized individual. Next, customers are willing to switch from retail pharmacies
because of how they are not receiving the service they expect. Customer service is the number
one negative influence on the customer perspective in this industry. The pharmacy industry has a
low image view because of drug abuse. When I say drug abuse, I am referring to prescribing
medications out of bribery or payments, controlled drugs abuse, and overdoses. Many firms are
still settling lawsuits cases with these being the nature of the claim. It is easy to say I believe we
can restructure the view from our consumers if we do it right. Therefore, we should educate each
customer, take our time to address their needs personally, and build ethical standards.
To go into our market segmentation, we will start out serving niche markets. That are
medium sized areas by population. As we build our brand we will then move onto bigger cities,
with mass marketing. Our first geographic area will be the North America. We will operate in
four different languages: English, Spanish, Chinese, and French. Moving into demographics, we
will serve anyone regardless of age, gender, income, education, or race. Our customer base is not
targeted at one culture, such as limited to Americans only. By introducing our business,
customers will receive a satisfaction they never have before with our competitors. The benefits
wanted are personalized care, medications dispensed properly, and helping our customers seek a
longer life by providing the additional routine care check ups at in home visits/drop-offs. This
will cause a shift in the market and create a solid customer base. Customers are highly on the
readiness to switch over from their traditional ways of receiving their medication. After, their
first trial run with our alternative this will determine if they enjoy the convenience of our
business and will they use it again. The benefits of this is the convenience of us traveling to their
homes. Also, the easy access to be able to fill their prescriptions from home. They can educate
themselves on the medications they are prescribed via our application. In our positioning
strategy, we want to be perceived by customers as the best option to fulfilling their prescriptions.
Amongst, our competition we plan to have a competitive advantage because of customer service
and the convenience our of business. In order to build our brand, we will market via social media
applications, offer promotions for first time users, and customer reward programs. In order, to
completely position ourselves we must make our strategy match our values. Therefore, create
personalized relationships with customer, the affordability to customers, and expanding the
duties of our staff. I have incorporated a positioning map in Figure 1-2, amongst competitors.
Market sales potentials are high, with us forecasting to take over 40% of the current customer
market. I have included in Figure 1-3, MobileRx market sales potential.
In conclusion, MobileRx will soon be dominating the market with their pharmacy on
wheels. Our business is convenient in many ways and we are providing an outstanding service to
all customers. Our biggest strength is customer service, personally caring for each customer. The
easy use of our application for customers to fill their medications. Most importantly, we travel to
the patient. No more waiting in lines for medicine or for doctors’ appointments to keep their
health in check. The downside to our business is that we are unknown to the market and our
customer base. Currently, our target market is limited until we have built a strong brand image
and positioned appropriately amongst competition. We do have the opportunity to grow this
business along with the use of technology advancement. We can later take into consideration,
implementing collaborations with doctors and hospitals. The threat of bringing this business to
reality is that we have large brand competitors, majority being retail pharmacies. The market
itself is very competitive and we must be able to alter our business if necessary. I have placed my
findings of MobileRx in a SWOT analysis in Figure 1-4. MobileRx, is dedicated to serving our
customers and building a strong brand image.
Figure 1-1
? Specific – To serve local markets with filled prescriptions, routine care, and health related
products and services through our convenient mobile pharmacy truck(s)
? Measurable – Track our customer and business growth each quarter
? Achievable – From introducing our business with no customer base to gaining 40% of
local patients, easily attainable by the convenience of our business, customers served,
customer satisfaction, etc.
? Realistic – Our business will make a difference in patients’ lives who are unable to fill
prescriptions traditionally. Our business is also convenient for patients who don’t have
the time to fill their prescriptions or need in home visits because of a variety of other
reasons.
? Timely – By January 2021, we w…
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