Derma Sheetz
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Marketing plan for sweat wicking sheets.
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Derma Sheetz
- 1. MARKETING PLAN Janessa Shaikun – Fall 1, 2009 Give Your Patients the Royal Care They Deserve…
- 2. Agenda Product Description Initial Target Market Secondary Market Product Pricing Initial Maturity Promotion Financial Projections
- 3. Product Description Bed sheets with sweat wicking abilities Addresses multiple medical problems and comfort issues associated with bed sweating Skin breakdown, chafing, bedsores Common medications cause night sweats Hyperhidrosis Improve patient care while reducing time and money Improve quality of sleep for those that suffer from night sweats at home
- 4. Initial Target Market Hospitals in Maryland ICU units - Least mobile patients in most critical condition Highest need for turnaround Dermatology Floors
- 5. Secondary Markets Dr.’s Offices Psychiatrist/Mental Health Providers Anti-psychotics, anti-depressants are causes Dermatologists Patients with acne, hyperhidrosis Bedding Departments (future idea) Bed, Bath, & Beyond Macy’s Home Store
- 6. Pricing Initial Wholesale – $10/sheet in packages of 50 or more Maturity Wholesale - $8/sheet in packages of 75 or more Suggested Retail - $25
- 7. Initial Promotion – Year 1 20 free samples to 5 hospitals in different areas of MD Washington Adventist, Holy Cross, Saint Agnes, Howard County General, & Harbor Hospital Outside Sales E-Marketing Channels Basic Informational Website Google Ad Words
- 8. Promotion – Year 2 Continue Online Marketing Channels Ad online ad banners Print Ads Medical Magazines Medical Supply Catalogues “Rest Well, Knowing Your Patients Can Too”
- 9. Financial Projections - Profit Unit COGS = $4 2 year projections = 88,000 sheets sold Sales = $775,000 Gross Profit = $483,000 SG&A = 9.2% (avg.) = $75,500 NPBT = $407,500 NPAT = $273,750 Financials
- 10. Financial Projections - Investments Initial Investment = $20,400 100 Sample Sheets= $400 (1 investor needed) 5000 Initial Sales Units = $20,000 Number of Initial Investors = 10 Initial Investment/Investor = $2000 Re-Paid @ 22,000 Units (month 8) Additional Distribution @ 88,000 Unit Goal = $5,910 ROI = 1.955 Times Investment 195.5% Return on Investment (Year 1 ROI 97.6%)
- 11. Summary Assists with real medical problems Very little competition Potential to reach multiple markets Fast growth potential, high R.O.I.
Editor's Notes
- Probably wouldn’t actually sell as a luxury item, just meant for a fun opening
- What is it? Bed sheets with sweat wicking abilities, i.e. ability to absorb sweat as under armor does for sports wear What problem does it solve? 1 – Excessive sweating causes medical problems such as skin breakdown, chafing, and bedsores. Note in picture, the red areas are where skin breakdown occurs the most and they are indeed exactly the areas that are touching the bed . – This is not only painful for patients, but increases the length of patient stay and the time spent by medical staff. Both of these can cost the hospital money. In addition – Many medications cause night sweats along with hyperhidrosis, which by definition is the medical term for also excessive sweating – less serious of medical issue, more of comfort issue, would be sold Dr. Offices Back up plan, sell in stores
- ICU units tend to have the least mobile patients with the most serious conditions, even more important to not add skin break down to these cases. Also both for financial and capacity issues the unit that you want people to get out of the fastest. ICU units need to be monitored by nurses 24/7, overtime rates, etc. and also have expensive equipment
- Psychiatrist/Mental Health - anti depressants and anti psychotics are two of the main medications that cause night sweats – this frequently results in patients discontinuing Dermatologists – treat hyperhidrosis – sweating at night causes acne Demographics are varied, but can be assumed that most Dr.’s are upper class and 30+ - would do research on demographics of who takes these medications, but due to the fact that the majority of patients have insurance, at the very least almost all will have a full time job. Bedding Departments would sell on own, demographics explained by store– this would all happen if success did not occur in hospitals leading us to believe a non-medical route should be taken, or to be explored in year 3
- Suggested retail in year 2 applies to Dr.’s offices only - outside store bedding departments, Dr. offices, etc. Maturity is after year 1
- Samples :Research would be done on best locations to give samples, would want diverse hospital attributes and request feedback to strategically target wholesale efforts to our outside sales team and build CRM database. Goal is to get feedback from staff while there is little invested to tweak product/plan as needed before launching Outside Sales:The outside sales would be similar to pharm. Sales – visit multiple hospitals – make connections -have hard copy of research studies containing examples of potential money to be saved and statistics on the medical issues that are caused by problem - Full time positions, 8am-6pm E-marketing – information website, pre-product launch to make it easier for the hospitals to spread the word to colleagues and also have the ability to order online E-Marketing – Google ad words – because there is little competition, could do Google ad words very cheaply and use to start SEO (search engine optimization) campaign
- Have gotten steady business from Hospitals and are increasing our e-marketing efforts with web ads. Blast e-mails now that we have developed our database, but only once a month. Try to get incorporated in email newsletters from medical institutions rather than be considered spam New focus on secondary targets –our efforts will focus on getting Dr.’s to buy in bulk to sell to their patients, well continuing to expand our reach with hospitals. Ad concept (pathos driven) – Dr.’s are prescribing their patients medications with side effects that are difficult to manage (frequently leads to patients discontinuing the meds which they need) – if there are products available to help this, it is their obligation to make products available (call to action) for them to purchase to control this. Would hire ad agency
- SG&A – time periods are in 2 month slots, SG&A changed when business increased so I took avg. Presenting to a potential investor is reasoning for link
- The $400 initial investor is $ already saved to do hand outs, no outside investors needed Investor to profit $3910 by end of second year.