2. Summary
• Customers face a lot of problem while finding the prescribed
medicines.
• MyChem will provide its consumers medicines and other health care
items just by a single click on their smartphones and tablets.
• It won’t have any of its own outlets, but would primarily focus on
providing service and oragnize the efforts of the sector.
• It will operate by connecting the consumers with the local pharmacy
shops.
3. Company Profile
• MyChem will be an app wherein consumers will get their prescribed
medicines and other health products delivered to them just by a mere
click on their smartphones.
• It will provide a platform wherein consumers will be informed about
the availability of a particular medicine in a particular store.
• It will connect the local pharmacy shops with the consumers and
hence enhance their business.
4. Market Study
• This particular market has been left unexplored and seems an exciting
prospect for expanding.
• Not many organizations have operated or are planning to operate in
the particular domain.
• If acquired the right exposure, this could be a big breakthrough for
this market.
5. Target Consumers
• Medicare is an essential in any household and so the target
customers range from kids to old aged.
• Patients in hospitals, nursing homes, etc. can be potential customers.
• The working class would face the ease of not going to the pharmacy
shop for monthly medical requirements.
6. Goal
• To be the market leader in the pharmacy retail sector.
• To reach a consumer base of 1 lakh by the end of 1st year.
• To break even after 1 year of operation.
7. Target Market - Consumers
• The customers will be offered greater incentives initially to lure them
towards MyChem and to make them habitual.
• The quality of service provided will also be a key factor.
• The customers may check the availability of prescribed medicines in
the shops and hence place an order.
• The pricing of the commodities would be comparatively lower than
the actual retail value.
8. Target Market - Collaborators
• The view will be to get most of the local shops on board and form a
network of all the pharmacy shops.
• The pharmacies will get the orders of consumers online, and would
have to deliver them.
• It would work on the model of cab aggregators – Ola and Uber.
• The collaborators would get 80% of the bill value.
9. Incentives – Consumers
• Initially, discounts would range between 20-30%.
• Promotional vouchers for referring to others.
• Regular discounts for loyal customers.
• Gradually, discounts would be reduced to 5-10%.
10. Incentives - Collaborators
• Get an additional 2.5% bonus on total bill value for completion of
every 15 orders.
• On a total bill value of Rs. 1,00,000, the outlet gets a total bonus of
Rs. 5000.
• On getting positive feedback from the consumers about a particular
outlet, it would end up getting more orders.
11. Service
• Customer friendly app.
• 24hr toll free number for consumer grievances.
• 30 min delivery promise.
• Availability of every drug.
• Greater discounts.
12. Communication
• Partnerships with medical practitioners to refer the patients to
MyChem.
• Partnerships with major hospitals to promote MyChem.
• Tie-up with medical shop chains (e.g. Apollo).
• Referring to friends and family may earn both the existing and the
new user some promotional discounts.
