1 10 STEP Marketing Plan for (Ear Technologies Inc) Frederick Untalan June 2010
E T I Ear Technologies Hearing Testing & Hearing Aid Center HEARING AID UNITSAUDIOGRAM POCKET AID ACCESSORIES BATTERIES EARMOLD CLEANING HEARING AID DRYING SIEMENS HEARING AID PROGRAMMING DIGITAL PERFECTION. BETTER TECHNOLOGY. BETTER HEARING. The only Hearing Aid Center in Northern Luzon!
5 Steps for Part 1 (PTM and Positioning) Ear Tech Hearing Aid center offers its services to the hearing impaired Class ABCDE Who want to hear ‘normally’ & be integrated into the society again Can choose: Manila Hearing Aid, LedesmaAudiological center, Ear Diagnostics Hearing Aid Center other brands focused in regaining hearing
5 Steps for Part 1 (PTM and Positioning) The market size is the entire population of Northern Luzon 1 million Eartech has 5 branches in Northen Luzon, having 10 employees. It is the only hearing aid center in Northern Luzon.
5 Steps for Part 2(Marketing Mix & Strategy) Product: >>wide range of hearing aid >> including hearing aid batteries >> clinical audiometry Price : >> Hearing Aids : Php 12thou – 350thou Audiometry: Php 450-650 HA Batteries: Php 50/piece
5 Steps for Part 2(Marketing Mix & Strategy) Promo : > PCSO financial support > lay-away plans Place : Northern Luzon Generic Winning Strategy of Mix : >> direct referrals from doctor members
7 Positioning to the Primary Target Market Part 1: Steps 1 to 5
1.My primary target market (PTM) is.. Demographics (Age range, sex, social class, marital status) Lifestyle (what they do) Behavior (when consume, how much, how frequent, special concerns)
1.My primary target market (PTM) is.. Demographics : All age groups belonging to class ABCDE with hearing impairment together Lifestyle (need to work/communicate/socialize): Behavior (use Hearing aid during waking time for communication & social integration)
2. My PTM’s NWE Needs from Maslow’s hierarchy Wants determine choice Expectations from the product
2. My PTM’s NWE The Hearing impaired patient need To belong (social), Self-Esteem, Self actualization The Hearing impaired patient want Safe, affordable, durable, quality & branded hearing aid The Hearing impaired patient expects Comfort, style, safe & new hearing aid which adheres & follows strict quality control regulations and lasts a lifetime.
3a. Direct and indirect products that address my PTM’s NWE List of Competitors products/ brands Determine the variables that affect choice of product, brand
3a. Ear Technologies has many formidable competitors Direct: Manila Hearing Aid, LedesmaAudiological center, Ear Diagnostics Hearing Aid Center Indirect: Internet based Hearingaid ordering Variables: Age, Price, packaging, specific use, convenience of use, availability, Occasion of use, brand & location of center
3b. Competitive Position Map Determine the 2 most critical variables Make a position map plotting the different competitors
Position Map Proximity vs. Brand Brand quality Proximity to patient
4. Identify the gap between customers and competition Where is the marketing opportunity? What NWEs are not being addressed? What can be the unique selling proposition for the new product (totally new or repositioned.)
4. Ear Technologies positions strongly in a niche market opportunity Ear Technologies is the only hearing aid center That offers professional services of ENT doctors conveniently & strategically located in Northern Luzon Ear Tech is the exclusive distributor of Seimens Hearing Instruments, makers of quality hearing aid worldwide. Eartech offers immediate services to patients needing Hearing care.
DIGITAL PERFECTION. BETTER TECHNOLOGY. BETTER HEARING. BAGUIO: 3rd Floor (Front of Cinema 2) SM City Baguio Upper Session Road Baguio City (074) 300 – 1972 DAGUPAN: Rm. 24 P&C Fernandez 2 Bldg., Perez Blvd. Dagupan City Telefax: (075) 515 – 7850 TARLAC: 2nd Floor, Benin Building Zamora Street, San Roque Tarlac City, Tarlac Telephone #: (065) 982 - 3656 LA UNION : 2nd Flr. Manarang – Balingit Bldg. Quezon Avenue San Fernando City La Union Telephone #: (072) 888 – 4686 PAMPANGA SM Pampanga San Fernando, Pampanga ILOCOS NORTE Ground Floor 80-888 Realty Bldg.59 Gen. luna St., Brgy. 9, Laoag City 2900Tel: 077-7714913 Hearing Testing & Hearing Aids Ear Technologies Ear Technologies is #1 in niche: most available in Northern Luzon Clinical Audiometry Screening Audiometry Hearing Aid Fitting/Dispensing Hearing Aid Batteries Hearing Aid Programming Ear Mould Ear Plugs Pocket Aid Accessories Hearing Aid Drying Ear Mould Cleaning
5a. Estimate the market size using competitor data Visual Observation Almost all ENT doctors in Northern Luzon forms part of Ear Technologies. Most of their patients now get their Hearing aid needs from Earhnologies. Other ENT/EENT doctors also refer their patienst to EarTechnologies. Illegal Interview Patients coming from other hearing aid centers are asked about the services & the products sold from the other companies
The Seven Sisters of the Hearing Aid Industry only seven manufacturers control about 90 percent of the worldwide market for hearing aids. The hearing aid industry is truly global. Two of the current leaders are based in the U.S., one is based in Switzerland and one in Germany. But the hotbed of hearing aid design and manufacturing is Denmark, home to three of the seven world leaders. These Seven Sisters together sell about $2 billion worth of hearing aids. http://hearingmojo.com/the-seven-sisters-of-the-hearing-aid-industry
5b. Estimate the market size using company data Claimed market share : >50% of Hearing Aids & Clinical Audiometry services in Northern Luzon comes from & provided by Ear Technologies. Guesstimate on market share Since no data is available, the number of supportive ENT doctors-members of EarTech has given the company a >50% edge of the market
5b. Estimate the market size using company data Historical sales since 2003, Ear Tech has slowly emerged as the leading Hearing Aid center in Northern Luzon with 5 major branches from Ilocos Norte to Pampanga. Net income of >Php 3-5M / annually
5c. Estimate the market size using customer data Usage per day or per year More than 1 million hearing impaired patients will need a hearing Aid or at least will require a regular clinical audiometry test. Patients will be needing a hearing aid daily for communication & social integration
25 The Marketing Mix Strategy Part 2: Steps 6 to 10
6a. Photo of product category product and competitors
Siemens Life. Discreet & elegant Small and stylish with ultra thin tubes Exchangeable colors that stand out or blend in Fully automatic functions for discreet handling Fast & flexible Instant fitting concept Low maintenance and follow up visits Easy handling and inexpensive replacements Sophisticated Features revolutionary BestSound Technology from Siemens Compatible with the Tek wireless enhancement system Also suitable for controlling tinnitus
Siemens Pure. It hides. You shine. Discreet Ultra-small RIC (receiver-in-canal) instruments 16 exchangeable colors for complete individuality Instrument functions are fully automatic and inconspicuous Innovative Features revolutionary BestSound Technology from Siemens 3 powerful receivers for up to moderately severe hearing loss Offers connectivity with the Tek wireless enhancement system Unique The only rechargeable RIC hearing instrument New charger with convenient electronic drying
Comfortable hearing instrumentsEasy and durable hearing solutions for those who want to enjoy every moment of life without worrying about hearing loss. Motion Nitrous Lotus Intuis
Hearing instruments for children Robust and reliable hearing solutions specially designed for kids to help them explore their world as they grow. It's designed to keep them safe while allowing them to discover their world. It's engineered to help kids bond, and still styled to suit their tastes. It's conceived not only to help children hear life, but to free them so that they can enjoy it. Discover how Siemens Explorer can help your child explore the magic of childhood as it has others. And learn how such a sophisticated hearing instrument can be so simple to use and care for. Siemens Explorer. Made for the most important person in the world. Your child.
ConnectivityA range of stylish devices that give you wireless and discreet control of your hearing instruments. Siemens Tek™The wireless enhancement for Siemens hearing instruments ProPocket™ is Siemens latest generation of remote controls for hearing instruments. ePen™Sleek remote that allows you to manually change programs and control volume.
ConnectivityA range of stylish devices that give you wireless and discreet control of your hearing instruments. Phone AdapterWireless communication wherever you are. ePocket™Remote control unit with read out function for volume control setting, program and battery status.
AccessoriesFrom high quality batteries to our unique charger-and-dryer solution. Siemens keeps your instrument in top form. eChargerFor rechargable hearing instruments. Siemens batteriesLong live batteries which ensure an excellent amplification.
6b. Product Description Describe the physical features, specifications, attributes of the product
BestSound™ Technology BestSound™ Technology is Siemens most advanced digital sound processing system ever developed. Packed into each hearing instrument are three new technologies custom-tailored to the needs that matter the most to the wearers. SpeechFocus™ - The first directional microphone that automatically selects speech coming from behind you in a noisy situation. Speech focus acts like an acoustic rearview mirror that works automatically to improve speech understanding by up to 40%, improving your sense of safety and confidence.
SoundLearning® 2.0- Enjoy the freedom of a completely automated and individualized hearing experience whether you’re listening in quiet, in noise, or enjoying music. You’ll have fewer follow-up fittings and the confidence of knowing you’re hearing exactly as you prefer in varying environments.
FeedbackStopper™ - Based on the latest research, FeedbackStopper predicts feedback before it happens and reduces or eliminates it fast. Now, even in the most feedback-prone situations, you won't have to worry about embarrassing and annoying whistling.
7. Price Get prices of your product Creatively compare vs. competitors across different pack sizes and variants Quantify the price difference in % terms vs. competitors Conclude on what pricing strategy is being used
7. Price- Ranges from Php 12,000 to 350,000/hearing aid
8a. Promo Describe what you propose to do Advertising (amount, media) – sponsorship in health/medical activities Sales Promotions Public Relations – involve in Public Service with regards Ear Care & Protection Direct Marketing – visit doctor clinics Personal Selling
8b. Competitor promo Show also how your key competitors communicate Their commercials Their websites And why your communication stands out
Ear Diagnostics Hearing Aid Center CONGRATULATIONS ! Manila Branch was just awarded the National Shoppers Choice Award 2005 as No.1 Hearing Aid Center in Manila City.
LedesmaAudiological Center has been in the hearing industry for 24 years. Ledesma is the largest hearing aide sales centers in the Philippines with 11 braches nationwide. They offer a variety of hearing aid models for all types and degree of hearing loss, a complete laboratory equipment for earmold processing, computerized equipment for programming digital hearing aids and video otoscopy that allows us to identify presence of middle ear pathology-Makati City.
9. Ear Technologies is distributed in Northern Luzon market stalls Northern Luzon Pick-up by customers Cash and credit transaction
10. What is the generic winning strategy? Which of the 4 strategies are being used? (bold and underline to most dominant strategy) Differentiation Niche
10. Ear Technologies is a niche leader Ear Technologies’ main strategy is to dominate the niche market of the hearing impaired It benefits from the doctors’ (members) direct referral Has an excellent, wide range quality product distributed in Northern Luzon.
5 Steps for Part 1 (PTM and Positioning) Ear Tech Hearing Aid center offers its services to the hearing impaired Who want to hear ‘normally’ & be integrated into the society again Can choose Manila Hearing Aid, LedesmaAudiological center, Ear Diagnostics Hearing Aid Center other brands focus regain hearing The market size is 80%
5 Steps for Part 2(Marketing Mix & Strategy) Product; wide range of hearing aid &including hearing aid batteries Price : from 12thou – 350thou Promo : lay-away plans, mass media Place : Northern Luzon Generic Winning Strategy of Mix : direct referrals from doctor members
50 10 STEP Marketing Plan for (Ear Technologies Inc) Frederick Untalan June 2010