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Table of Contents1. Executive Summary:................................................................................................................2
2. Situation Analysis:...................................................................................................................4
2.1. Services Being Offered:....................................................................................................4
2.2. SWOT Analysis:...............................................................................................................5
2.2.1. Strengths....................................................................................................................5
2.2.2. Weaknesses................................................................................................................6
2.2.3. Opportunities.............................................................................................................6
2.2.4. Threats.......................................................................................................................6
3. Target Market:.........................................................................................................................8
3.1. Market Characteristics......................................................................................................9
3.1.2. Geographic.....................................................................................................................9
3.1.3. Demographics................................................................................................................9
3.1.4. Behavior Factors..........................................................................................................10
3.2. Highlights of the Target Market......................................................................................10
4. Competition:..........................................................................................................................12
4.1. Primary Competitors:......................................................................................................13
4.2. Competiveness:...............................................................................................................14
4.3. Substitutes:......................................................................................................................15
4.4. Countering the Competition:...........................................................................................15
5. Pricing Strategy.....................................................................................................................17
6. The Clinic:.............................................................................................................................18
7. Promotion Activities:.............................................................................................................19
7.1. Channels of Advertising:................................................................................................20
8. Promotion Budget..................................................................................................................23
8.1. Monthly Expenses:..........................................................................................................23
REFRENCES.................................................................................................................................26
1. Executive Summary: The Meadow Clinic will be a private practice of Dr. David Cutter, who is also a member of
AACS. It will be a full service cosmetic surgery clinic, offering premium quality cosmetic
surgery procedures at competitive prices. Since this facility will be based in New York City,
where comparatively cosmetic surgery procedures cost are almost 50% more than in other states.
Therefore Meadow Clinic will become competitive by carrying out same procedures at a lower
cost than that being offered by the competition. The average price of a cosmetic procedure is
$5000, of which 15% is revenue.
This venture aims to be successful because of one major factor and that is the cost of the
procedures. Combined with that the quality of service and being accredited by the relevant
bodies such as the American Society of Plastic Surgeons (ASPS), the Meadow Clinic is sure to
attract its target customers.
Mission Statement:
“The Meadow Clinic endeavors to provide its valued customers an unmatched experience in
every sense of the word, where customers can always trust us with our guiding philosophy of
never compromising on quality and safety of procedures.”
Our target market consists of people from the age bracket of 20 to 60 years. It is a researched fact
that the older age people, mostly women have a penchant to reverse the years and look younger
than their age, also the fact that trends have shifted in recent years and older people who have
lived their lives to the fullest, wish to enjoy their older years while having money at their
disposal, therefore they look for new avenues of pleasure and excitement.
-2-
The objective of the promotion efforts would be to create maximum awareness about the practice
with the limited resources available, while keeping in mind not to create any adverse impact (low
cost therefore low quality) in the minds of our targeted audience.
Outline your marketing strategy, mission and goals. Include financial highlights such as sales
and revenue forecasts, projected growth and market share, and expected profitability. Briefly
reference the current market situation as it relates to your product/service and company and
outlines the opportunity.
Point out key success factors and/or the major pitfalls you plan to avoid. Reference major
actions, changes or trends you anticipate over the next three years, and how these will impact
your marketing strategy.
Be sure to include a good Mission Statement.
Ensure that you have clearly stated what your Marketing Plan is designed to do, e.g.,
measurable goals by which you will increase units sold, dollars of revenue made, etc. What do
you want to accomplish?
Your Executive Summary is a synopsis of critical information that is found in the other seven
Marketing Plan sections. It communicates to the reader "this is what you will be reading." Thus,
you might include a brief paragraph for each of the following sections that help the reader to
understand your synopsis overview of that which they will be following.
You may complete this section last, or work on a draft as you are completing other sections and
fine-tune it at the end. Ensure that your Marketing Plan is crisp, succinct, and consistent with
-3-
other sections and representative of your overall effort. Remember that the Marketing Plan is
written in THIRD Person.
Suggested length: 1-2 pages (keep it concise)
2. Situation Analysis:The Meadow Clinic will be a private practice of Dr. David Cutter, who is also a member of
ASPS. It will be a full service cosmetic surgery clinic, offering premium quality cosmetic
surgery procedures at competitive prices. Since this facility will be based in New York City,
where comparatively cosmetic surgery procedures cost are almost 50% more than in other states.
Therefore Meadow Clinic will become competitive by completing same procedures at a lower
cost than that being offered by the competition.
2.1. Services Being Offered:The different services that Meadow Clinic will offer include:
Body Contouring
Abdominoplasty
Breast Implants
Breast Lift
Breast Reduction
Buttock Implants
Calf Lift
Liposuction
Thigh Lift
Upper Arm Lift
Facial Cosmetic Surgery
Blepharoplasty
Face Lift
Forehead Lift
Genioplasty
Lip Implant
Malar Augmentation
Otoplasty
Rhinoplasty
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Non-Invasive Treatments
Restylane
Hylaform
Collagen
Fat Injections
Botox
Facial Rejuvenation
Laser Resurfacing
Thermage
Chemical Peels
Dermabrasion
Other
Sclerotherapy
Hair Transplant
*Source: http://www.cosmeticsurgery.org/
In the first year of operations only Body Contouring, Facial Rejuvenation and Non-Invasive
treatments will be offered, while from the second year of operations Facial Cosmetic Surgery
will be offered.
2.2. SWOT Analysis:The need for aesthetic cosmetic surgery has seen a huge increase over the past couple of years. A
number of factors are responsible for this, some of which are an increase in the number of reality
shows that follow through different procedures being conducted at the clinics. Also the
acceptability of cosmetic surgeries, which were previously considered taboo, is on the rise.
Another factor that contributes to this increase is the inclination of young men and women,
having a higher than average disposable income, to look good beyond the ordinary folks.
2.2.1. Strengths Competitive cost of procedures as compared to other clinics in New York.
Quality surgeons and doctors having both experience and expertise to perform the
procedures.
-5-
Well qualified support staff
A calm and sophisticated environment making the customers or patients at ease.
2.2.2. Weaknesses Less cash flow for the first year while The Meadow Clinic tries to build a foundation for
its cosmetic procedures
Little experience of running such a business
Difficulty in establishing a reputation and a strong image
2.2.3. Opportunities Shifting trends of target market.
Greater profit margins as the business grows.
2.2.4. Threats The downward trend of economy may impact future growth of business.
Similar services and procedures are being offered by a number of competitors.
Reputation of clinic at stake, since these are very sensitive procedures to perform.
The following graph shows the number of cosmetic surgeries performed over the years. It can be
seen that the graph is steadily rising and showing a positive trend in recent years, which is a very
encouraging sign for The Meadow Clinic.
-6-
Provide a complete description of the product or service to be offered, along with an explanation
of any competitive advantages or challenges. This can be a totally new product or a line
extension. Consider the “core” product or service, as well as any related services or
components that are a part of the total offering. Indicate what need your product or service is
intended to fulfill, as well as the problem that it solves for the target market… and that other
companies are not solving. Spend time defining and describing your product; a thorough
understanding and clear articulation of your product and the market need it fulfills is critical to
the successful development of the rest of your plan.
-7-
Also offer a situation analysis including a SWOT analysis that is submitted in bullet form.
Describe the current market situation, the opportunity you plan to address, any micro- and
macro-environment influences, and any relevant historical data you see as important.
Suggested length: 2-3 pages
3. Target Market: The Meadow Clinic will be situated in the New York City, and thus the target market for the
clinic will consist of both the male and the female population between the ages of 25 to 60 years.
Cosmetic surgery is popular among this segment because of the fact that young people have a
tendency to look smart and beautiful. Whereas the older age people, mostly women have a
penchant to reverse the years and look younger than their age, also the fact that trends have
shifted in recent years and older people who have lived their lives to the fullest, wish to enjoy
their older years while having money at their disposal, therefore they look for new avenues of
pleasure and excitement.
"Our statistics confirm that aesthetic plastic surgery is not defined by race or gender," said
Aesthetic Society president Foad Nahai, MD. "The number of surgical and nonsurgical
procedures performed on men increased 17 percent since last year, and 22 percent of the
aesthetic procedures were performed on traditional racial and ethnic minorities."
-8-
The following breakup of the demographics will give a fair idea of our target market population.
3.1. Market CharacteristicsThe profile for The Meadow Clinic’s customer consists of the following geographic,
demographic, and behavioral factors.
3.1.2. Geographic The geographic target is the city of New York with a population of 8,214,426
Mainly people from the affluent areas will be targeted.
The total targeted population is 35,000 (approx)
3.1.3. Demographics Primarily female (62%).
They range in age from 25-60.
They have at least $45,000 in income.
36% are professionals.
-9-
54% are live-at-home parents.
The seniors have over $50,000 in household income.
3.1.4. Behavior Factors These individuals are concerned about their appearance.
Are naturally comfortable to spend money on themselves
The seniors are willing to live their lives to the fullest, having been relieved of all their
major responsibilities.
3.2. Highlights of the Target Market
In the year 2007, 18% of the procedures performed were surgical whereas 82% were
nonsurgical.
There has been a 2 percent increase in the total number of cosmetic procedures from the
year 2006-2007. Surgical procedures showed an increase of 8 percent, whereas non-
surgical procedures increased by 1 percent.
Surgical procedures have showed an increase of 114 percent and nonsurgical by 754
percent since 1997.
These were the top 5 cosmetic procedures in 2007: liposuction (456,828 procedures);
breast augmentation (399,440 procedures); eyelid surgery (240,763 procedures);
abdominoplasty (185,335 procedures); and breast reduction (153,087 procedures).
In 2007 the top five nonsurgical procedures were: Botox injection (2,775,176
procedures); hyaluronic acid (1,448,716 procedures); laser hair removal (1,412,657
procedures); microdermabrasion (829,658 procedures); and IPL laser treatment (647,707
procedures).
-10-
Cosmetic procedures for women increased by 1% from 2006. The total number of
procedures women had was 10.6 million, which is 91 percent of the total.
There was an increase of 17 percent in the cosmetic procedures for men, which amount to
a total of 1.1 million, i.e. 9 percent of the total procedures performed.
Most of the procedures were done by people in the age bracket of 35 to 50 – 5.4 million
and 46 percent of the total. People from the age bracket of 19-34 had 21 percent of
procedures; whereas people of age 51-64 had 25 percent; 65-and-over had only 6 percent
while people from age 18-and-younger had less than 2 percent.
For people aged 18 and under the most important cosmetic procedures were: laser hair
removal, microdermabrasion, chemical peel, otoplasty (ear reshaping) and rhinoplasty.
Over the last year Americans spent just under $13.2 billion on cosmetic procedures.
Provide a complete description of your target market(s), indicating how you segmented the
larger market. Be as specific and detailed as is appropriate for your product or service and
explain why the target market is attractive to you, as a marketer. In effect, why have you
decided to approach this market in terms of growth, anticipated opportunities, profitability,
etc? Indicate the size of the target in dollars or units, potential for growth, other important
characteristics. Address any ethical considerations or possible risks. What marketing
segmentation variables have you selected that explain your market segmentation rationale?
Suggested length: 2-3 pages
4. Competition: Each and every clinic, hospital or a private practice that perform cosmetic surgery procedure are
a potential competitor for the Meadow Clinic. Also there are a number of spas and skin centers
-11-
that offer noninvasive treatments; these will be considered as substitutes. If we go on and
consider each and every competitor around New York, the list would include approximately
1000 practices. Narrowing down the list to the clinics and doctors present in the downtown New
York City the list of major competitors is:
1. David L. Abramson, MD
Plastic and Reconstructive Surgery
2. John E. Sherman, MD, FACS
Plastic and Reconstructive Surgery
3. Joel R. Studin, MD, FACS
Plastic and Reconstructive Surgery
4. Richard Swift, MD, FACS
Plastic and Reconstructive Surgery
5. Nadia S. Afridi, MD, FRCS(C)
Plastic and Reconstructive Surgery
6. William B. Rosenblatt, MD, FACS
Lenox Hill Plastic Surgery Center
7. Darrick E. Antell, MD, DMD, FACS
Plastic and Reconstructive Surgery
8. Dennis Barek, MD, FACS
Millennium Plastic Surgery
9. William K. Boss, Jr., MD, PA, FACS
10. Dr. Jeffery R. Fischman
11. Sleek MedSpa
12. Skintology
Total Skin and Laser SPA
13. Chelsea Eye & Cosmetic Surgery
14. Park Plaza Plastic Surgery, New York
15. Dr. Philip Miller, MD, FACS
16. Park Avenue Plastic Surgery
17. Tribeca Plastic Surgery
18. Central Park Plastic Surgery
19. Godfrey & Godfrey
4.1. Primary Competitors:The two primary competitors for The Meadow Clinic would be:
-12-
1. Park Avenue Plastic Surgery Clinic
2. Chelsea Eye & Cosmetic Surgery
There are also other relevant competitors present, but the clientele The Meadow Clinic wishes to
serve are the same these two clinics are serving, therefore these are our two primary competitors.
A brief analysis of both is given
Park Avenue Plastic Surgery Clinic:
The Park Avenue Plastic Surgery Clinic is the practice of Douglas M. Monasebian. It is situated
at 784 Park Avenue, New York, NY 10021. The website of Park Avenue clinic is
www.parkavenueplasticsurgery.com. A complete range of services are offered by Dr.
Monasebian in the following categories:
Facial Aesthetic Surgery
Facial Reconstructive Surgery
Breast Surgery
Body Contouring
Skin Enhancement
Laser
Also a range of skin care products are available at the clinic. Park Avenue takes pride in the
expertise of Dr. Monasebian, who is also a member of a number of prestigious organizations and
societies on Plastic Surgery. Park Avenue has an excellent image, and no such malpractice or a
procedure have gone wrong in recent years, which would have given a bad reputation to the
clinic.
-13-
The only drawback we can say that Park Avenue has is the high cost, and this is the area which
Meadow Clinic needs to exploit.
Chelsea Eye & Cosmetic Surgery:
Chelsea Eye & Cosmetic Surgery, located at Manhattan, NYC, 157 W 19th Street, New York,
NY 10011. This facility serves as eye as well as a cosmetic surgery clinic. Dr. Joseph Eviatar
specializes in cosmetic surgery of the eyelids and surrounding structures of the eye, whereas
aesthetician, Jane MacKinnon, performs a full range of cosmetic procedures. Also a special plan
can be made in order to recuperate and gain confidence after a surgery is performed.
Since patients have a lot of questions regarding the surgical and nonsurgical treatments Chelsea
Eye & Cosmetic Surgery clinic has developed a buddy program, where prospective clients can
call and get the relevant guidance and information related to the different procedures, and what
will be best suited for them. The clinic also has an arts gallery so that patients can relax and feel
comfortable. The website for Chelsea Eye & Cosmetic Surgery is
http://www.chelseaeye.com/cosmetic-surgery-new-york-city.htm
4.2. Competiveness: The services offered by the Meadow Clinic will be more or less the same as being offered by the competition.
This is because of the fact that the field of cosmetic surgery is regulated by a number of
governing bodies on health. Therefore any procedure beyond its scope is strictly prohibited.
The Meadow Clinic will set itself apart from the competition by offering
Competitive cost of procedures as compared to other clinics in New York.
Quality surgeons and doctors having both experience and expertise to perform the
procedures.
-14-
Well qualified support staff
A calm and sophisticated environment making the customers or patients at ease.
One thing that will really set The Meadow Clinic apart will be the competitive cost. As
mentioned before, the prices in New York are comparatively much higher than in other states,
therefore The Meadow Clinic wishes to charge its customers relatively less, so that people from
mid income range can also avail cosmetic surgery treatments.
4.3. Substitutes:In recent years a number of skin treatment clinics and specialty spas that offer different types of
noninvasive treatments, have come up. Though they are not a direct substitute for each and every
treatment, but still both cosmetic surgery and skin care spas address the same need of consumer
and that is the desire to look beautiful.
4.4. Countering the Competition:As the Meadow Clinic will enter the market with a lower cost of procedures, certain other clinics
that do not have an established clientele will certainly follow the same strategy by bringing their
prices down too. These endeavors will be countered by The Meadow Clinic’s strict adherence to
its quality polices and standards. It will then rest upon the advertising and the promotion to reach
the right audience and getting the message across to them.
Include a comprehensive list of current and potential competitors and substitutes. This list could
be organized by industry, company type, or by firm. If this list is a very long one, focus on those
that you see as most important and indicate why.
For your top two (2) primary competitor(s), offer a detailed analysis of their strengths and
weaknesses, as well as the strategies likely to be used by each upon your entry into the market.
-15-
Provide as much relevant information as you can find about your chief competitors: size, current
market share, product quality, growth, financial stability, image, marketing strategy, target
markets, and any other data you consider important. Do not skimp on this; know thy enemy!
RESEARCH!
Discuss how your product/service compares (features and benefits, target market, etc.) to that
offered by the competition. In addition, share how you plan to differentiate your product from the
competition. Why might people buy your product/service instead of the others offered by your
competition in the same general category?
Be sure to address substitutes. Are there any substitutes for your service or product offering?
Identify the primary substitutes, discuss strengths and weaknesses of those substitutes compared
to your offering. If there are no substitutes, indicate this.
As you will likely encounter competition when you enter the market, what is your plan to respond
to competitive counter thrusts? How will they likely respond to your entry into the market?
Suggested length: 2-3 pages
5. Pricing StrategyThe pricing strategy that The Meadow Clinic will follow will be cost plus markup. A major
portion of the cost includes the surgeon’s fees, i.e. 60 to 80%. Also the prices quoted normally
include anesthesia fee, operating room fee, and implant fee.
A list of prices being charged in New York is listed below:
Arm Lift (Brachioplasty) $5000-6500 Laser (CO2) $4000-5000
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Blue Peel $500-700 Lip Augmentation $600-2000
Botox $200-400/area Liposuction (1 area) $2500-4500
Breast Augmentation (saline) $5000-6500 Liposuction (3 areas) $5500-7000
Breast Augmentation(silicone) $6000-8000 Liposuction (5 areas) $8000-10,000
Breast Lift $5000-6000 Medium Peel $1500-2500
Chin or Cheek Implants $3000-4500 Micro Peel $60-100
Collagen Injection $500-1500 Nose Surgery $5000-6000
Deep Chemical Peel $3500-5000 Pectoral Implants $6000-7000
Dermabrasion $2000-4000 Permanent Eyeliner $300-1000
Eyelid Tuck (upper & lower) $4000-5500 Permanent Lip Liner $300-1000
Face Lift $7000-9000 Spider Vein Rx (Laser) $400-1000
Forehead Lift (Brow Lift) $3500-5000 Spider Vein Rx (Sclero) $200-500
Hair Removal (Laser) $300-800 Tattoo Removal (Laser) $300-800
Labioplasty $2500-4000 Tummy Tuck $6000-8000 Laser (Erbium) $2500-4000
It must be noted that as mentioned earlier, these prices are a bit higher than what is the national
average for these procedures. The Meadow Clinic seek to charge its customers the same prices
that are national average and approximately 50 percent lower or it may be a bit higher than the
national average, keeping in mind the promotion costs, but still the prices will be lower than
what is being charged by the competition in New York. This move will surely attract the target
customers. The fixed costs would include the installments that will have to be paid for the
equipment and the premises. As for the variable costs, these would greatly vary according to the
-17-
procedures being performed; furthermore the utility expenses and the medicines would also be
incurred.
Special packages will be offered if more than one procedure is performed, which will also
depend on the cost of the procedure.
Propose a pricing strategy for the product/service and support your choice. Indicate your
pricing structure, show examples, offering an average or range in price varies according to
volume or other circumstances. Explain whether you will have special offers, discounts, or
allowances for each market channel. Consider how your proposed price fits into the target
market and compares to the competition. Your pricing should allow for sufficient profitability to
allow you to cover your essential fixed costs (FC) and variable costs (VC) on which you will
want to reflect (but do not have to be listed). Be sure to consider the costs incurred via your
Promotion Budget section, as this cost of PROMOTION needs to be built into your pricing and
revenue considerations.
Suggested length: 2-3 pages
6. The Clinic:The Meadow Clinic would be established in somewhere around the downtown Manhattan, since
this would be an easy place to commute for our target customers. It will also be taken care of that
the clinic is a bit away from the hustle and bustle of the city, and provide a peaceful environment
to the patients.
Also the fact that a main portion of the target population is professional people and working
fulltime, therefore it will be the clinic’s endeavor that these people do not have to waste time
commuting to the clinic. Rather just drop by for a quick referral, between or after their office
timings.
-18-
The actual clinic would consist of a consultancy clinic, a surgery room, plus three or four rooms
for individual or dual occupancy patients. These rooms would of course be increased as the
business starts to grow. There would also be a full service gym and fitness area for the patients,
to make them feel at ease.
Describe the proposed channel strategy for the product/service. Consider how you will
manufacture, warehouse and move the product. Include information about wholesale, retail or
direct channels, as appropriate; support your choices of distribution channels. Indicate what’s in
it (estimated revenue) for each of your channel partners.
If you are using a sales force to help distribute, as well as to promote your product, you can
discuss selection, compensation, training and management of your sales staff here (or you may
address this under Communications). Same for direct marketing -- if direct marketing is a
primary channel of distribution discuss here; if used mostly as a communication tool, include it
in that section.
If you are providing a service, then you are a direct channel service provider and a channel of
distribution will likely not be part of your marketing mix. Yet, you would want to include a
description of your physical facility, how you will deliver your services to your customers, and
other related topics that point to the “tangibility” of how you will provide your service, how it
might be packaged, etc.
Suggested length: 2-3 pages
7. Promotion Activities: The promotion campaign of The Meadow Clinic will be based upon the tagline:
“FEEL GOOD-inside out.....”
-19-
This tagline would become the basis of all the advertising and promotion that The Meadow
Clinic will go for. In addition to this the color theme of the clinic would be light green and white.
This scheme is being adopted because of the serene nature of the light green color; where as the
white color exemplifies a soothing and peaceful effect. This color theme would go into all the
promotional material including banners, pamphlets, brochures, advertisements, discount coupons
and the website.
A special focus will be placed on the designing of the website, since none of the competitors
have an impressive website and also because of the fact that a website is the first impression a
customer gets regarding the practice. The website of the Meadow Clinic would be made in flash.
It will be highly informative with links to various information resources, and at the same time
being user friendly.
7.1. Channels of Advertising:The objective of the promotion efforts would be to create maximum awareness about the practice
with the limited resources available, while keeping in mind not to create any adverse impact (low
cost therefore low quality) in the minds of our targeted audience. The different channels that
would be used for the promotion purposes would include:
1. Seminars:
Seminars and guest speaking sessions will be arranged and sponsored, relating to information
about the procedures, their costs, repercussion and general awareness.
2. Brochures and flyers:
These will be distributed at hospitals, malls and shopping centers and also at designated
pharmacies.
-20-
3. Doctors:
Doctors at leading hospitals will be briefed about our clinic, costs and the quality of services,
so that they can refer their patients to us.
4. Opinion Leaders:
Opinion leaders will be informed about the venture, their valuable feedback and suggestions
will collected and they will be invited for the launch, and at different guest speaking sessions
and seminars that will be arranged by the Meadow Clinic.
5. Direct Marketing Channels:
Direct marketing channels such as direct mail and e-mail will be used. Also a toll free
number will be established, whereby potential customers can call and get any type of
information regarding cosmetic surgery.
6. Newspaper Advertisements:
Newspaper advertisement would be given in The New York Times newspaper and coupons
for free consultation will be placed in the magazine.
7. Online Advertising:
Online advertising using Google’s Adwords service will be done, since this is a very useful
yet a cheap method.
-21-
8. Website:
As mentioned before a multipurpose, easy to use web portal will be established, which will
serve as a virtual communication centre, where people can get all the information needed
about the procedures, their costs, repercussion and general awareness.
This is a complete description of your proposed promotion plan. Include the strategy, the
promotional activities you see as most appropriate and effective for your product/ service, and
your plans for execution. Address all levels of marketing channels (if appropriate) and target
customer groups.
Consider the appropriate use of advertising, sales promotion, public relation activities, direct
marketing and personal selling, as best suits your product and target customer group(s). With
whom do you want to communicate and how can you do that successfully at the most reasonable
cost? Do you need (can you afford?) expensive print or television advertising, or is there a less
expensive way to communicate through news media contacts or by other means?
You will need to create a promotional budget that covers your cost for your efforts to reach your
market. Demonstrate application of an Integrated Marketing Communications (IMC) approach,
along with your "Clear, consistent message" that your IMC approach is intended to
communicate.
Have you communicated within this section your "one, consistent message" that is congruent
with IMC?
If you plan to use personal selling or direct marketing and have previously discussed these in
your Channels of Distribution section, reference that here and be sure you’ve fully covered the
communication aspects of these tools
-22-
Consider how your promotional strategy fits with other sections of your plan; check to see that
your promotional plans are consistent with the description of your target market, with your
budget and overall strategy. Consider how your plan stacks up to competitors’ promotional
activities. Be creative, but stay grounded in reality.
Suggested length: 3-4 pages
8. Promotion Budget During the first month The Meadow Clinic will set up the new office, define policies, set up
appointments and begin with certain marketing activities, such as advertising in association
newsletters and local industry specific journals. From month two onwards there will be a few
appointments, further more the first several months will see a low key activity. The clinic
expects it to take a bit of time before the business starts to grow. Month five through seven will
see a steady increase in appointments, after that the business will really start to ramp up.
Marketing expenses and efforts both will be on a higher side during the first quarter to gain
visibility for the clinic. After the first quarter they will typically settle down, due to general
awareness that will be generated and an increase in the procedures.
The Break-up of different costs that would be incurred for the first quarter are listed below:
8.1. Monthly Expenses:
MonthsActivity 1st 2nd 3rd
Seminars $1000 1000 1000Brochures and flyers $500 300 300Direct Marketing Channels 600 500 400Newspaper Advertisements 2000 2000 2500Online Advertising 400 400 350
-23-
Networking 750 750 900Website 550 550 550TOTAL($) 4300 5500 6000
Include in your Promotion Budget your projected dollar costs for promotion for your first year
of business. This should be based on your having made a diligent effort to understand
approximate expenses for advertising/media and other promotional venues.
It is important that you RESEARCH your promotional costs. Do not "guess" what it will cost to
advertise, e.g., in the local newspaper. Your evaluation for this section is based on your having
"done your homework" (RESEARCH!) to provide a realistic promotional budget that covers
everything that you see as part of your promotional efforts.
-24-
Key things that you would want to include, but to which you are not limited, as you budget for
your IMC approach to bring your message to your target market, would include the items below.
Each item you include in your promotional plan should have a RESEARCHED dollar figure
attached:
Television Radio Internet Newspapers (Weekly and Daily) Magazines Outdoor Advertising
Yellow Pages Miscellaneous other advertising Advertising Agency services Public Relations
services (publicity, etc)
Sales Promotion (what you have created, e.g., magnets, coffee mugs; trade show participation)
Direct Marketing program (Direct Mail, "Permission Marketing," etc.)
Personal Selling (salary and 35% benefits, plus expenses)
Suggested length: 2 pages
-25-
REFRENCESBooks:
1. Alan Gaynor. Everything You Ever Wanted to Know About Cosmetic Surgery but Couldn't Afford to Ask. New York: Broadway Books; 1998.
2. Dr. Jean M. Loftus. The Smart Woman's Guide to Plastic Surgery. McGraw-Hill-Contemporary Books; 2000.
3. R. Merrel, MD Olesen, Marie B.V. Olesen. Cosmetic Surgery for Dummies. Indiana: Willey Publishing Inc.; 2005.
Websites:
1. Consumer Guide to Plastic Surgery and Cosmetic Surgery, Available at: http://www.yourplasticsurgeryguide.com/. Accessed January 15, 2009.
2. Cosmetic Plastic Surgery Research Statistics and Trends for 2001 -2007, Available at: http://www.cosmeticplasticsurgerystatistics.com/statistics.html#2007-HIGHLIGHTS. Accessed January 14, 2009.
3. Find a Board Certified Plastic Surgeon, Available at: http://www.aboardcertifiedplasticsurgeonresource.com. Accessed January 15, 2009.
4. Information about cosmetic plastic surgery, Available at: http://www.infoplasticsurgery.com. Accessed January 12, 2009.
5. New York Times Media Kit, Available at: http://www.nytimes.whsites.net. Accessed January 17, 2009.
6. New York-Presbyterian Hospital, Available at: http://www.nyp.org/health/plassurg_stats.html. Accessed January 13, 2009.
7. Park Avenue Plastic Surgery, Available at: http://www.parkavenueplasticsurgery.com. Accessed January 13, 2009.
8. The American Academy of Cosmetic Surgery. Available at: http://www.cosmeticsurgery.org/. Accessed January 12, 2009.
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