1. LABOMETRIC DEVICE MARKETING PLAN
NAME……………………………..
LABOMETRIC DEVICE MARKETING PLAN

2. SWOT ANALYSIS
SWOT Analysis is a subjective strategic tool which will be used to check critical information about ‘Labometric Device’. It assesses strengths, weaknesses, opportunities, and threats that the product may encounter (Ommani,2011). SWOT Analysis touches both internal and external environments of a product.
The Internal Factors
Most of these internal factors can be controlled by the company. The product will be constantly upgraded to ensure that it remains efficient. Challenges of installation and management expertise will be done by our company.
The effectiveness of ‘Labometric Device’ and its solution in cases of emergency are realized by SWOT Model as the greatest strengths of the product. Again, the device is mobile and therefore is helpful in cases of emergency.
Despite these strengths, ‘Labometric Device’ has a weakness of running on the cloud computing platform. This makes the administration and management of the product to be expensive since it cannot operate where there is no supply of internet. The device also needs to be regularly updated which may not be easy to the end user.

3. INTERNAL FACTORS
Strengths
Weaknesses
Provides instant laboratory diagnostic results
The installation and management of the device require experts of ICT.
Solves issues of emergency by prescribing medical solutions instantly
The device runs on a cloud computing platform hence must be connected to a constant and steady network service.
Perceived by many medical institution and doctors to be an accurate device for checking disorders in patients because it runs on the principle of biometry.
Regular updates and maintenance are very expensive.
Exhibits place mobility and therefore can be installed even in remote clinics.
The ‘Labometric’ software does not share operating with other software.
The device is relatively cheaper compared to establishing and furnishing physical laboratory.

4. External Factors
Our company has very little control over the external factors. Despite that, they will still be addressed amicably to ensure that a balance is stricken. The software interface of ‘Labometric Device’ will be encrypted and protected with strong firewalls to ensure its safety on the cloud computing platform.

5. EXTERNAL FACTORS
Opportunities
Threats
Medical doctors are showing readiness of embracing our technology
Dynamic nature of ICT devices may one day bring a shift from the normal operation of our device.
World Health Organization has endorsed ‘Labometric device’ as the best solution to counter attack medical emergency.
The negative perception of other clients on the efficiency of the device.
Red Cross Society has adopted the technology of ‘Labometrics’ to solve issues of emergency in remote places
Patients prefer the prescription of doctors than that which is biometrically generated by our device.
The emergence of Biomedical Engineering as a profession ensures adoption of ICT in medical diagnosis.
Threats of hacking ‘Labometric Device’ database by frauds.
No competitors in the market
Piracy of our ideas and technology by frauds.
Emergence of mobile clinics

6. PRODUCT DESCRIPTION
The product is “Labometric Device” which is software programmed machine meant to automate laboratory and medical diagnostic problems.
Many times, patients have the liberty to choose whether to go for laboratory test or to just buy over the counter drugs depending on the symptoms they experience. Many of them resort to taking drugs directly without ascertaining the cause and the type of disease they are suffering from. Has this ever provided them with relief? Are they aware of the dangers their bodies encounter when they rush to taking drugs without knowing the real disease? Is it true that introduction of Labometric Device will help patients to conveniently get laboratory services and drug prescription at their disposal? Many people are eager to diagnose and treat disease with utmost urgency before it spreads. Usually, they want to ascertain the cause and effect of diseases and take the right steps towards fighting it. Despite the fact that manual laboratory diagnosis and physician’s prescriptions help patients to identify and fight the disease causing organism, Labometric Device is the best in medical diagnosis because it works on the principle of biometrics. Besides diagnosis, it prescribes drugs and the right diet to counteract the disease.

7. The name of this device suggests its functionality
The name of this device suggests its functionality. It integrates both the work of medical laboratory and that of the physician. The device is biometric and populated with data of diseases; pharmaceutical drugs and nutrition hence work on the principle of receiving blood signals from the body of the patient to be analyzed in the machine. The top part of the device has a transparent biometric screen where the patient puts his/her thumb finger or blood sample. The signals are therefore sent to the machine, analyzed through software generated algorithms and the result displayed on the computer screen attached to the device. This diagnosis is very comprehensive as it reveals the disease, its cause, and its level and drug & diet therapy. So it performs works of both physician and laboratory technologist at a single click.
The fact that our company wants the medical industry to freely accept the use of Labometric Device does not mean that it will lead to the death of manual diagnostic method. The device is meant to complement medical services and to provide solutions during an emergency. Apart from this, the device can be used in homesteads without necessarily running to hospitals in times of sickness. It is also a repository of knowledge on healthy lifestyles and nutrition. The product is unique in the market and being that medical doctors are also few, we expect minimal competition.

8. Feature and Benefit Analysis
Biometric Screen
Vibrates
To start sending biometric signals
Beeps with a tonne
To alert the patient/user that the signals have been taken
Hard and Waterproof
Protects against external damage that may be caused by liquids and scratch.
Laced with solar panels
To allow it operate electronically even in the absence of electricity.
Algorithm Unit
Analyzes the biometric signals sent from the screen.
Compares the sent signals with that populated in the signals.
Matches the signals and the stored information in the database.
The unit is externally protected with hard metallic case to prevent it from damage
Computer Screen Unit
Vibrates with a tonne
To display the results of diagnosis from the Algorithm Unit.

9. The following market segments are targeted by ‘Labometric’ Device:
Segmentation
This strategy seeks to popularize ‘Labometric’ Device in various market segments as an instant and convenient medical laboratory diagnostic platform. It is a mobile tool that operates on a cloud-based system to deliver services of medical diagnosis. The device is very vital because the medical industry is inclining towards the adoption of information technology and Biomedical Engineering professions.
The following market segments are targeted by ‘Labometric’ Device:

10. Student Doctors and Home-Based Medics
Many homes are blessed to have student doctors and medics. In many instances, they are confronted with cases of sickness and demand of medical prescriptions from the locals and friends who know their medical qualification. Such demands have made them offer unmerited medical assistance without understanding the disease due to lack of pertinent and necessary equipment. They usually give patients who ran to them temporary relief by prescribing drugs which in most cases are not compatible with the clinical structure of the disease. They may have knowledge and expertise in medicine, but cases of emergency can be well addressed by adoption of Labometric Device. So it is imperative that homes with medics should install this device to boost their blessed one in learning and giving freelance medical services to the society. Again, this machine should be installed in schools and colleges where they are learning to give them relevant experience for working in the field.

11. Demographics of Student Doctors and Home-Based Medics
Age:
Residential Location: Schools and Homes
Professional Status: Students/Prospective Doctors/Jobless Doctors
Income: Low Level of income
Psychographics for Student Doctors and Home-Based Medics
Generates money from family income and family services
Eager to embrace modern medical technology
Adventures medical dynamics
Readiness to help patients and medical victims in need

12. Herbalists
Herbalists are very vital in the chain of medicine. They create a balance between pharmaceutical medicine and Phytotherapy medicine. For a long time, herbalists have been very successful in treating many diseases. The only challenge is that they have been unable to provide a full diagnosis by ascertaining the disease and giving the active ingredients related to that disease. The Labometric device has this option. It verifies the disease and gives both pharmaceutical drugs and herbs that can counteract the disease. This will help them to be effective in delivering their herbal services with absolute accuracy.

13. Demographics for Herbalists
Age:
Percentage Prevalence: 52%
Professional Status: Traditional doctors
Income Level: Middle-Level Income
Residential Status: Towns and Rural
Psychographics for Herbalists
Conscious of money and therefore can be helped by Labometric device to increase their income
Knowledgeable in herbal treatment hence need to be boosted with the right medical tools
Explore nature and environment to get new treatments of the emerging diseases

14. Local Pharmaceutical Clinics
These clinics are providing immeasurable help to patients who are either far away from the major hospitals or unable to raise fees required in the hospitals. They always operate on the principle of prescribing drugs to patients or clients depending on the explanations given to them. In this process, most of them have ended up poisoning the system of a patient with an end-result of death. Adoption of Labometric Device by these clinical centers will eradicate this problem. They will have an option of testing diseases cheaply and thereafter prescribe cheap drugs.

15. Demographics for Local Pharmaceutical Clinics
Age of Medics:
Percentage Prevalence: 86
Areas of Operation: Towns and Rural
Education/Professional Status: Pharmacists, Clinical Doctors, and Information Technologists
Psychographics for Local Pharmaceutical Clinics
Lack physical medical laboratory and hence need an alternative
Overworked by engaging clients/patients in conversation to know what they are suffering from
Have a feeling that administering drugs without clinically testing the disease is unhealthy to the patients

16. Emergency Clinics
Diagnosis through the physical laboratory takes too much time and therefore has not been efficient in solving cases of emergency. Many lives which would have been saved have been lost due to lack of equipment that can offer quick medical and laboratory diagnosis. Labometric Device targets segment of Emergency Clinics to solve this perennial problem. It is performing a medical diagnosis at a click and hence will be very effective in helping patients under emergency.

17. Demographics for Emergency Clinics Age of Medics: 30-45
Percentage Prevalence of Emergency Cases: 87
Cases of Accident: At least 5 per day
Location: Major hospitals
Education/Professional Status: Pharmacists, Clinical Doctors and Biomedical Engineers
Income: High level of Income
Psychographics for Emergency Clinics
Need modern tools for solving cases of emergency
Overworked by handling complex and long physical diagnosis of cases of emergency

18. Student Doctors and Home-Based Medics
Herbalists
Local Pharmaceutical Clinics
Emergency Clinics
Age
18-26
40-70
50-65
30-45
Residential Location
Schools/Homes
Rural
Towns and Rural
Major Hospitals
Educational/Professional Status
Students/prospective Doctors
Traditional doctors
Pharmacists, Clinical Doctors, and Information Technologists
Pharmacists, Clinical Doctors and Biomedical Engineers
Percentage Prevalence 52 86 87
Cases of accidents handled
At least 5 per day
Income
Low-Income level
Middle Income
High Income
Psychographic Information of the Market Segment
Generates money from family income and family services
Conscious of money and therefore can be helped by Labometric device to increase their income
Lack physical medical laboratory and hence need an alternative
Need modern tools for solving cases of emergency
Eager to embrace modern medical technology
Knowledgeable in herbal treatment hence need to be boosted with the right medical tools
Overworked by engaging clients/patients in conversation to know what they are suffering from
Overworked by handling complex and long physical diagnosis of cases of emergency
Adventures medical dynamics
Explore nature and environment to get new treatments of the emerging diseases
Have a feeling that administering drugs without clinically testing the disease is unhealthy to the patients
Readiness to help patients and medical victims in need

19. MARKETING PLAN: INTEGRATED MARKETING COMMUNICATION
The Integrated Marketing Communication (IMC) is a plan in business that brings together all the forms of communication meant to promote, advertise and launch a new product into the market (Ganni, 2013).
This IMC is designed for Labometric Device. It is a plan for illustrating opportunities of promotion and objectives of IMC which will be majorly climaxed with advertisement.
Labometric Device is a medical diagnosis technology brand which is meant to provide diagnostic solutions in health centers and medical research institutions. We shall pack this magnificent tool with a conspicuous brand to enhance our brand image.
The product will be sold at affordable price and in complete form to relieve the consumer from looking for other peripherals to compliment it. The brand market will first be created in Costa Rica and finally expanded to the world market. It is anticipated that clients from Costa Rica specifically will not love Labometric Device because it is a new technology, but because it is a local technology that surpasses international inventions

20. Being that Labometric device is a new brand which is yet to be launched, there is need of creating its awareness through constant advertisement and promotions in the potential market.
The chief objective of this IMC Plan is to create and build a brand image which is strong and also enhance brand awareness which will eventually improve the image of Labometric Device.
Marketing Objectives
To realize at least 6.5 million Us Dollars on cash sales of Labometric Device in the first eight months of its launching.
To achieve net profit of at least 15% on the sale made on the Labometric Device within the first eight months.
To achieve market leadership in the medical laboratory diagnosis technology in Costa Rica in particular and the world in general.

21. Promotion Opportunity Analysis
Our marketing strategy is to ensure that brand awareness is created immediately the product is launched. Our anticipation is to make Labometric Device the best medical diagnostic tool in the consumer’s mind. We shall ensure that our target markets such as health care centers and medical research institutions understand the vitality of Labometric device. Through this, we shall build loyalty with them and hence dominate new markets.
Again, the pricing strategy of Labometric Device will be set slightly higher than our competitors to get maximum profit and also to convince consumers that we are offering more superior products than our competitors. In the same line, we shall promote the product using the events of charity, tourism, celebrities of Costa Rica and sponsorships. Besides this, the target market will be reached using TV and Radio commercials, trade shows, magazine ads and internet channels.

22. Communication Analysis
The market of medical diagnosis is very big and therefore it is expected that Labometric Device will a very big market share. We shall minimize the cost of communication and promotion while at the same time adopting successful strategies for communicating the brand.
Since this is a high end technological product, we shall advertise it through trade shows, magazine ads and direct marketing. Advertisement through magazine ads will be used to continue reminding our loyal customers to continue buying and using the Labometric Device. Direct marketing will be achieved through sending periodic catalogs to clients who have capability of buying Labometric Device. Trade shows will be used as a communication channel to foster relationship between us and the consumers. Finally the product will also be promoted through online website (internet) of our company and social networks of consumers.

23. Competitive Analysis
Despite the fact that there is competition in the medical diagnosis business, we hope that Labometric Device will not experience competition in the market. This is because of its unique development and the methodology of launching it. Again, being that it is a technological program, we shall keep on upgrading and improving the server that controls it so as to cater for the dynamic standards of medical industry. This will make us not to have any competitor hence gaining monopoly in the market.
Opportunity Analysis
A deep analysis of the medical technological market of Costa Rica in particular and the world in general shows that Labometric Device has several opportunities of becoming market leader. It is these opportunities that will be used to reveal how distribution and consumers’ prevalence will be pursued. This is illustrated as follows:
a) Consumers
-The product image will be enhanced through our unique and conspicuous approach of marketing. This will make consumers proud of adopting Labometric Device.
-The Costa Rica market will readily adopt Labometric Device hence a great opportunity of getting big market share.

24. b) Distribution
-Labometric Device will have an opportunity of increasing market share by adopting the technique of selective distribution. The device will be tailored in different sizes and standards to cater for even small sized health care centers. This will make us to infiltrate all the targeted markets.
-Labometric device will also be distributed directly through internet and catalogs leading to the opportunity of customer traffic.
IMC Budget
Labometric Device total expense budget is stipulated to be $2.5 million. This budget will be divided into two to achieve consumer oriented objectives and distribution oriented objectives.
Consumer oriented Objectives
This will take $1.5 million because it is the major business of this IMC. It is the budget that will cater for creating awareness on the brand, advertisement and promotion services
Distribution Oriented Objectives
This will be given $1 million because it only addresses the channel of distribution.

25. Project
Action Item
IMC is a plan that links together all form of communication aimed at promoting and advertising a product.
Description
Labometric Device is a medical laboratory diagnostic tool that is meant to provide instant medical solutions.
Objective
To achieve market leadership, realize higher cash sales and net profits within the first eight months of launching.
Target Market
We target medical industry in Costa Rica in particular and the world in general. Most specifically, we target hospital, learning/medical research institutions, pharmaceutical centers and homesteads.
Budget
The total IMC Plan budget will be $2.5 million which will cater for both consumer oriented objectives and distribution oriented objectives
Metric
The success of this IMC plan will be measured through promotion opportunity analysis, communication analysis, competitive analysis and opportunity analysis.

26. REFERENCE
Aleazar, Fernando and Prieto J. (2005), Strategic Human Resource Management: Integrating the universalistic, contingent, configurational and contextual perspectives, International Journal of Human Resource Management, p.63
Ganni, G.(2013). Sample Marketing Plan. USA: McGraw Hill Publishers.
Johnson J. and Smith A.(2013). Marketing Plan. London: Routledge.
Ommani, A. (2011). Strengths, weaknesses, opportunities and threats (SWOT) analysis for farming system businesses management: Case of wheat farmers of Shadervan District, Shoushtar Township, Iran. African Journal of Business Management. 5(22). p