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Bryan Wholey PCSI Final Report
- 1. MKT 479-Marketing Strategy & Management Milestone 1 Components Dr. Tuba Ustuner Prepared By: Emma Lang, Kevin Crittendon and Bryan Wholey October 4th 2015
- 2. 2 Situation Analysis 1.1 Company: Patient Philosophy: To welcome each patient with respect and compassion. Treating each one with customized care. Premier provides this promised customized care by having a concierge service that will handle initial phone calls as well as follow-up phone calls after your procedure for a period of five years. Physicians will also be available during office hours, on weekends, and evenings primarily to answer questions patients might have about their treatment, as well as to ward off any uncertainties about their procedures. Premier Stem Cell Institute takes pride in four major components that they feel set them apart from the competition: Patient Care: Premier Stem Cell Institute recognizes that each of their patients are very unique and different, because of this, in an attempt to get a better understanding of what each patient needs every experience at Premier will be personally adapted and catered towards that individual. Premier’s concierge service will enable patients to feel comfortable as well as cared for, an experience that differentiates this facility from any other doctor's office. Patients will receive an initial consultation call where the concierge will personally answer any and all questions that patient might have, and making sure they have a good understanding of the procedure. Physicians are also available by phone during office hours, on weekends, and in the evenings in case a patient has any emergency or last minute questions about their procedure or recovery. The concierge then calls all patients with a follow-up one week after injection up to a period of five years after injection to make sure all of the patient’s needs are met. World Renowned Spinal Surgeon: Dr. Kenneth Pettine was the first spinal surgeon to perform a minimally invasive intervertebral disc repair using bone marrow stem cells in 2011. Premier believes that it is because of Dr. Pettine’s innovative skills that they have become leaders in the stem cell industry. Dr. Pettine is constantly looking for new methods and procedures to aid stem cell regeneration, extending his expertise beyond joint injuries, and seeking treatments now for diseases. Although he is a spinal surgeon, Dr. Pettine has devoted his life’s work to finding ways to treat his patients without having to cut them open. His personal trademark phrase is “Friends don’t let friends get fused” referring to spinal fusions, that was initially what Dr. Pettine was so passionate about avoiding. Because of this dedication, Dr. Pettine recently became the first spinal surgeon in the US to treat a patient that was in need of a fusion purely with stem cells. He has contributed and investigated
- 3. 3 15 FDA studies that involve this procedure as well as other stem cell and biologic treatments and therapies. His research continues to expand as he searches for better ways to heal the body, and he has written and published more than 20 research articles on the matter. No doctor in the US has more experience with stem cells than Dr. Pettine. ART BMC Centrifuge Technology: Premier was the first facility to possess this technology, and to this day the ART BMC centrifuge is one of the most sought after technologies in this particular field. Premier claims that it is because of this particular design of centrifuge that they are able to deliver such a superior concentration of stem cells to their patients. When a larger supply of pure stem cells can be injected into a patient that maximizes results and cell regeneration. Kandace Stolz says that Premier Stem Cell Institute is “proud to offer the ART system, it is the newest technology available.” The ART BMC can be considered the best in the field because it is able to recover the greatest percentage of nucleated and progenitor cells, and it rapidly delivers them to the patient faster than any other device. Because of this, Premier Stem Cell Institute patients are receiving more pure and concentrated cells at their treatment facility than possible anywhere else that does not have this technology. Another unique feature that the ART BMC provides is the actual time in which the marrow cells can be delivered is only about 15 minutes, which means the cells are spending less time outside of the body. This results in the patient having to spend less time in the procedure room and more time to recover. Published Research: The executives at Premier claim that they are the only stem cell research facility that has any published research. Dr. Pettine himself has published more than 20 articles on stem cell research. Marketing Mix Price: $6,500 for first initial treatment, $850 for an additional procedure to the same injection site. IV treatment is $6500; both treatments however are not covered by insurance and are to be paid out of pocket. To address the recent rise in price, financing is now currently available for those needing assistance in paying for the procedure. Promotion: ● Presentations: Premier currently tours the country, specifically in the regions of the locations of their current office and well as their new offices in Texas, giving presentations on the research, work and the therapy options that they do in an attempt to educate general practitioners, physical therapists, chiropractors and their employees. The reason these doctors are targeted is because they see more patients every day than surgeons or specialists do, and patients will most likely see any of these other doctors before pursuing a long-term solution for their ailments. If Premier can educate these
- 4. 4 doctors on stem cell regeneration they would be more likely to refer their current patients to the clinic. Although this is an excellent form of promotion, it has been observed that Premier Stem Cell Institute could do more to educate future patients. ● 9 News: Premier Stem Cell Institute went on the air to answer questions in an interview about the research and work they were doing. ● ESPN Preseason Broncos game: Aired a commercial about the institute during a preseason Broncos game in hopes to reach people from their target market while they viewing is at its highest. ● Twitter: They actively use their twitter feed to talk about benefits of stem cell treatment as well as the long term effects of joint pain. They attach testimonials from former NFL players that have been treated by them, as well as offer their services to answer any questions people might have about stem cell therapy. ● Client Referrals: Possibly the most effective of their promotions strategies, many of their clients are referred by friends and family members of the staff, as well as other patients. Place: 4795 Larimer Pkwy Johnstown, CO 80534; Coming Soon; Austin TX, Dallas TX. Product: ● Stem Cell Therapy: A stem cell treatment that has been proven to be effective in treating orthopedic ailments and joint issues. This unique therapy uses the patient’s own stem cells from their bones to heal the body when injected into the pain site. This is often considered an alternative to invasive surgery. ● IV Treatments: IV Therapy is the infusion of liquid substances directly into a vein. Premier has the most research on this type of treatment than any other form of regenerative medicine, and Dr. Pettine himself gives a personal testimony to it’s effectiveness. ● Platelet Rich Plasma Therapy: Using the patient’s own stem cells again, this type of therapy as a treatment for painful or immobile joints. This therapy is most common for patients who suffer from sport injuries, arthritis, and tendonitis. Premier Stem Cell Institute is a fairly new company, and financially has continued to be able to purchase newer more efficient equipment for their procedures, as well as expand their practice to two different locations. Currently their marketing efforts have proven to not match their company growth goals. Although they have a good start, it is important for Premier Stem Cell Institute to continue to educate consumers as well as to start forming relationships with possible partners. Financially, it should not be an issue for Premier to continue to expand their marketing efforts and partnerships.
- 5. 5 Although it is not official, Premier Stem Cell Institute hopes to form a partnership with the NFL and other professional sports associations because of their active treatment of professional athletes such as Larry Bird. They currently do not hold any partnerships, but do have multiple testimonials from retired professional athletes. Officially, none of these athletes do not represent Premier Stem Cell Institute as spokesmen; they are just willing to provide personal testimony. Currently, Premier Stem Cell Institute has allocated $50,000 a month for total marketing expenses, which include paying salaries, travel, and various promotion costs. They also are fully staffed for adequate demand, but will most likely need to expand their team as marketing efforts increase. 1.2 Collaborators: Many companies use collaborators to brainstorm and generate ideas in order to meet their marketing goals and objectives. There are a few organizations that Premier Stem cell is currently collaborating with: chiropractors and Ceiling Biosciences. As well as these, Premier Stem Cell should also try to collaborate with golf course. These organizations have greatly benefited the stream of clients that Premier Stem Cell sees. Premier Stem Cell’s marketing efforts targeting Weekend Warriors, “those who participate in strenuous activities only on the weekends,” in particular, have been increasing getting injured and need treatment options. As Weekend warriors become more and more popular it is important that Premier Stem Cell is collaborating with the right parties and get the right referrals to build their client base. Chiropractors’ primary activities in the industry are to diagnose and treat patients, provide natural, drugless, and non-surgical health treatments, and refer patients to or consult with other health practitioners. Chiropractors follow along the lines that if you don’t need surgical methods then you should choose natural methods to heal. This mentality of using nonsurgical methods has allowed for them to fit right alongside of what Premier Stem Cell focus on. As the most established form of alternative medicines chiropractic's has been growing in the past five years by 1.5% and have over 69,000 operations in the United States. With over 69,000 operations, the referrals that come from chiropractors significantly help Premier Stem Cell build a stronger client base. Chiropractors are a key collaborator because those who seek chiropractors are looking for alternatives to surgery and Premier Stem Cell offers just what these patients want, a nonsurgical solution. Along with chiropractors Premier Stem cell has Biosciences as a seamless partner. Biosciences have allowed for Premier Stem Cell to be the first facility to use the ART BMC technology. The ART device is used for point-of-care concentration of bone marrow aspirate because it recovers the greatest percentage of nucleated and progenitor cells and delivers them to the patient. Besides gathering the greatest percentage of nucleated and progenitor cells, it also includes a customizable deconstruction of fluids and an integrated filter system that helps against sterile breaks. This collaborator is essential for Premier Stem Cell because it allows for them to have a
- 6. 6 technically advantage over the competitors and allows for the best results, when more cells are used in the procedures there is a higher percentage chance that the operation will be successful. Chiropractors and Biosciences are very important as collaborators for Premier Stem Cell, but they should also branch out and work with more golf courses. Premier Stem Cell has sponsored a few golfing tournaments in the past but if they can collaborator with more this would lead to more patients. Weekend Warriors, often play golf on the weekends, and by targeting golf courses they could spread awareness of what their company does and how it can affect them. Those who play golf tend to have more expendable income which would allow for them to afford the care that Premier Stem Cell offers. Collaborating with golf course would result in direct marketing towards Premier Stem Cell’s target market and they should focus on making these connections in order to target Weekend Warriors. 1.3 Customers: The specific target Market that Premier Stem Cell Institution is targeting is Weekend Warriors, “those who participate in strenuous activities only on the weekend.” These customers are those people whose behavior the organization seeks to reinforce or change. In this case Premier Stem Cell Institution would like treat more patients that participate in strenuous activities, due to that fact that they are at high risk of getting injured and becoming a potential client of Premier Stem Cell. To figure out who these potential clients might be let’s take a look at some of the demographics of Denver, a city just 47 miles away from Premier Stem Cell Institution. Denver, is considered the healthiest city in America, and is known as the baby boomer capital. With Denver being such an active state for baby boomers these citizens are often considered weekend warriors and pose the risk of getting injured. “Denver is also the most educated city in the U.S. and has the greatest percentage of high school and college graduates of any major metropolitan area in the U.S.” The median household income is $39,910 and a median age of 31.7. With this high of household income they can easily afford the costs of Stem Cell’s procures. This City also has a population of 554,636 and receives 300 days of sunshine a year. With all these factors Premier Stem Cell really needs to make sure that doctors and chiropractors within the city are telling their patients about potential options that could include using stem cells to help their injuries. There are well over 500 chiropractors according to the yellow pages and over a 6000 physicians Surgeons within the city of Denver according to the yellow pages, if just 1/20 of them recommended using Premier Stem Cell their customer base would dramatically increase. To understand these customers a little bit better I conducted 2 in-depth interviews, their names have been changed to protect their identity but their ideas have been taken specifically from them with their permission. Both Jay and Jeff enjoy doing activities on the weekend and have both dealt with pain from injuries from the activities that they do. Whether it be Jeff, a College graduate with background in radiology and nuclear medicine, that enjoys playing golf and riding his bike to Jay who likes to ski, play golf or loves to runs, they both have dealt with the decision where or not to go into surgery or not. For Jay the deciding factor for him to get surgery on his particle ACL tear was he
- 7. 7 “couldn’t take the pain any longer and wanted to get back to doing what he loved.” The only option that Jay had was the surgery told by his doctor. The doctor in his case led him to his decision and without more information from the doctor he could of use alternative methods to improve his ACL. Jay and Jeff both seem to have misconceptions of stem cells and don’t fully understand what they can do. “It seems that there has been a lot of negative news of people using embryonic stem cells illegally on TV.” “There’s those that are from the embryonic stack that are used from pregnancies.” Both potential customers mentioned embryonic stem cells but none mentioned stem cells that could be used from their own body. When I asked Jeff if he thought it was a good idea to use your own stem cells, He said that was “fine,” and mentioned that he didn’t know that “they could use your own stem cells.” Jeff and Jay have a high education but when looking for alternative mentions they tend to trust the people they know the most and don’t often take the time to look about stem cell options. I asked Jeff where he found his information and he mentioned, “Talking with doctors, physical therapists and others with similar injuries.” this leads me to believe that word of mouth is the best way for customers to learn about the operations that Premier Stem Cell offers. It was also interesting that cost didn’t seem to be an issue that they were concerned with. Jeff had the option to take a free surgery due to work man’s comp but choose not to, instead he would rather use alternative methods than surgery. Jay wasn’t given another option and regrets doing the surgery, Jay “because it was such a pain in my ass that I would more than likely look for different alternatives.” It definitely appears from these two sources that they want another alternative to surgery but don’t know about them. Getting the education to the customer will be the most important step in Premier Stem Cell institution in order to make these potential customers into customers. Trusting the doctor is important for Jay and Jeff, and making sure that the doctor knows all of his patients options will ultimately affect the decision that a customer has on where or not he will choose to go with a surgery or chose something else. 1.4 Competitors: Company: Premier Stem Cell Institute Denver Regenerative Medicine NeuroSpine Institute Cendant Cellular Therapies Regenexx and the Centeno Schultz Clinic Price $6500 Requires Appointment, not covered under insurance Requires Appointment, most costs covered by Insurance Requires Appointment, not covered under insurance Requires Appointment, not covered under insurance Place, miles from Denver Metro Johnstown, CO 47.1 miles S. Holly Street, Denver Eugene, Oregon Englewood, CO, 9.8 Miles Broomfield, CO, 18.3 miles
- 8. 8 Product, How many patients they have treated? 1500 Information not available Information not available Information not available 21,920 since opening in 2005 Doctor Dr. Kenneth Pettine Information not available Dr. Catherine Gallo Dr. Stephen D. Holt Dr. Christopher J Centeno Procedure Options 3 types 2 Types 11 Types 4 types 15 Types Type of Cells Marrow cells Plasma, marrow stem cells Specializes in Surgical Procedures, No stem cells used Marrow and fat cells, Plasma, Amnion Extracellular Matrix, Manipulated ACells Marrow cells, Plasma, Platelets When they started 2011 2010 2006 2014 2005 1.5 Context: Economic Status and trends: With Northern Colorado residents having an above average level of disposable income, the area of the state matches Premier's strategy of targeting higher income professionals who are actively involved in fitness. With this procedure being completely out of pocket without an insurance option, a higher percentage of residents in the area will be able to afford the procedure. Premier has taken this approach to targeting cities with a high disposable income rate to better suit their target market. Another economic trend that could affect Premier’s marketing plan would be coming out of the recession of 2008, in the recovery period with many professionals obtaining their positions in the industry they were in before the recession. With this increase of employment opportunities available to these professionals, more disposable income is available for potential customers who are experiencing pain. The target market can afford the procedure without going into debt.
- 9. 9 With our target market of weekend warriors, affording this procedure can have three distinct possibilities. One reason could be with many years of working and saving up income for retirement purposes the surgery can be easily affordable for retirees wanting relief from daily pain. The second is the weekend warrior who still are employed within a company and either being able to afford the procedure or not. The third are retirees within a financial situation that could not afford the procedure because of a lack of funds saved before retirement while employed. With these scenarios in mind, Premier is targeting these target group; 40+, weekend warriors, and baby boomers. In a positive way that increases the chances these customers will be affluent rather than a riskier financial situation. With Premier’s affluent segmenting strategy in mind, promotion and advertising at Golf Trade Shows and also ski resorts and other locations where the affluent are doing outdoor activities would be most beneficial to their marketing strategy. Cultural trends: With our society becoming healthier conscious with many initiatives to take control of the obesity epidemic that is affecting over 33% of the countries adults and children, a strong health initiative has increased health and wellness activities. The one downside is the increasing amount of injuries with having the population more physically active. With the number increasing in injuries in high impact areas (knees, ankles, shoulders and hips), Premier as a company needs to take this into consideration when addressing the needs of the three primary sections of their target market with the increase in physical activity. These trends are influencing our marketing plan because of weekend warriors for example are becoming an overwhelming portion of the population, for the next few decades it will influence our marketing plan to gain more exposure and awareness in the surrounding communities. By using preventative and recovery techniques to allow our weekend warriors to be able to do the activities they want to do in their healthy lifestyle. 2. SWOT Analysis: Strengths: Patient Care: Each patient is treated in a unique and customized way based on their needs as a customer. Premier recognizes that because each patient requires a different kind of experience and will have different questions. A concierge service is provided to all patients, and is always available to make each patient feel comfortable and available for questions or concerns. Physicians are also available to patients over the phone any time. Premier Stem Cell Institute’s facility has a resort type feel that makes patients forget they are about to get a procedure. Everything is new
- 10. 10 and clean, and makes the patients feel at home. All Premier staff is highly educated on the procedures, and if they are unable to answer a question they will always get back to patients after finding out the proper response. Many patients comment on how friendly the staff is as well as how committed everyone is to providing patient comfort and a rapid recovery. Patients receive multiple follow-up calls starting one week after injection until five years after injection in order to confirm that each patient’s needs are met. When the patient has an initial satisfaction of their services they are automatically more likely to refer the company to their friends and family, as well as to follow through with the treatment. Published Research/Data: Premier Stem Cell Institute is the only stem cell research facility that has published data, and has over 20 publications of published research. Information is readily available on their website for future patients or people of interest to access and learn more about the research and treatments options that Premier is offering. Because they have so much research and data, Premier’s credibility is perceived to be higher than that of their competitors. They have a team of innovators that are constantly publishing new research as well as contributing to new studies. Newest Technology: Premier Stem Cell Institute offers the highest end centrifuge that not only speeds up the process of injection, but also speeds up the recovery process and provides better quality results. The ART BMC centrifuge provides a higher concentration of pure stem cells. The more stem cells the doctors can harvest, the better the results. Because of this, patients are almost guaranteed to receive better service and results when they use a facility that has this type of centrifuge, which differentiates Premier from their competitors. Unique Treatment Alternative: The treatment options that Premier is offering with the proven research in its database could provide patients a procedure instead of a surgery in a hospital. If it is a full tear from the muscle for example a rotator cuff in the shoulder or full tear in the ACL of the knee, the joint will need surgery to pull the tendon back to the muscle. However, with Premier’s stem cell or IV procedure, a partial tear in these two common areas the cells can rebuild the specific part of the tendon to avoid surgery altogether. With the alternative for surgery being a point of interest for potential patients with a procedure that is less evasive and generally shorter recovery time. Premier has marketed on the fact that you’re in and out in the same day. This attribute could be a dynamic marketing technique to drive more interest in what the company does for its patients. Weaknesses:
- 11. 11 Clinical Trial: Because the therapies that Premier Stem Cell Institute are offering are still considered clinical trials or research, the cost of these therapies are quite high and are not covered by insurance. Also, because it is a clinical trial that is in the early stages of discovery, a lot of consumers do not understand the treatments or are unaware that they exist. Some consumers might have pre- existing opinions about stem cell research based on previous education or bad information that they received from the media or their peers. Location: Premier Stem Cell Institute for the moment only has one location in Johnstown Colorado, which is consists of a population of 12,000 people and over 47 miles from Denver Colorado. With 12.9 miles from the nearest hotel located in Loveland, this brings a new challenge to patients who are not centrally located to the Johnstown area. Under the assumption that the majority of their patients are not from Johnstown, or are most likely from the Denver area, this might mean that patients will have to make long uncomfortable drives after injection because there aren’t accommodations for hotel stay in the area. Although Johnstown seems like it would be a good location because it is between Denver and Wyoming, we believe there is a loss of opportunity here. Brand Awareness: Although there might be a general awareness and knowledge of stem cell therapy, there is little to no brand awareness of Premier Stem Cell Institute in particular or what sets them apart from their competition. It is assumed that the majority of this lack of education comes from the absence of doctor recommendation. In general, people with injuries or ailments will first seek a general practitioner that they know and trust. If the doctor they trust does not suggest stem cell therapy, but another type of treatment, the patient will most likely trust their recommendation and not look for possible alternatives. Without brand awareness there is very little possibility of referral for possible clients. Cost: There are multiple costs that can be incurred when accepting to work with Premier Stem Cell Institution. These costs can seriously turn down a potential client from even setting up an appointment with Premier Stem Cell Institution. During consultation they require that the patient bring in their own MRI or CT scan for spine evaluation and/or x-ray for peripheral joints which is less than one year old. These scans can range anywhere from $400 to $3500. During scheduling they also require a deposit of 50% of the patient total procedure cost at the time the appointment is scheduled. The pricing varies depending on the procedure, but if they are doing an autologous BMC, this will cost them $6,500 for two joints, and an additional $850 per injection site after. The scheduled appointment itself is a $150 non-refundable expense, unless
- 12. 12 they reschedule it more than twice which will end of costing them $100 more and will be assessed for each subsequent occurrence. If they choose to cancel the procedure within 21 days of their appointment, a $500 fee and $150 fee will be added onto that. The biggest fee that can occur is forfeiting half of the cost of the procedure, due to: non-disclosed medical issue, eating/drinking the morning of the procedure, or other controllable factors. All these pre-costs can really deter someone who might be interested in working with Premier Stem Cell Institution. These procedures are all out of pocket and are not covered by insurance, making it difficult to afford. Opportunities: Education: A major aspect of this industry is that it requires a good amount of education and understanding to be able to make a sound decision whether this is a good product for a patient or for a doctor to recommend. We believe that if Premier took the time and resources to provide an educational program to doctors and possible clients (weekend warriors, athletes, student athletes) that there would be a larger population of clients who seek Premier out on their own. This will also enhance word of mouth and will pay itself off in the form of free advertising through people who attended the workshops. This will help to debunk the myths and bad connotation of stem cell therapy for possible clients, as well as give them yet another opportunity to talk to specialists and ask questions. Some of the information will come in the form of workshops and information sessions, while others will be more subtly placed within promotional campaigns. Professional Sport Association Partnership: A segment of the company's patients consisting of retired or active NFL players, we believe that it would be beneficial for Premier to establish an official partnership with a sports association/specific team to build credibility. This partnership could include discounted promotional rights for before, during and after seasoned and playoff games. Also, as athlete testimonials to be used in promotional campaigns. Another aspect of differentiating itself from the competition and reinforcing the success of the therapy itself. Promotional Campaigns: With as much emphasis that Kandace indicated during her presentation that one of Premier’s biggest opportunities present today would be increasing the amount of promotional campaigns in the Front Range/Denver Metro area would be crucial towards their plans in expansion and more brand awareness in the upcoming years. A path that Premier could take would be building presence in the golf community, with it being a popular sport in the state of Colorado in the summer and fall months, targeting the affluent golf community may include all three of their primary target markets together in one location for an increased level of word of mouth between potential patients.
- 13. 13 Another key area represented that could provide Premier access to its target market including ski resorts and biking events in the area. With the primary residents weekend warriors and 40+ who want to stay active while working in a professional environment. With the exposure of many of these events, potential patients will most likely add Premier Stem Cell Institute to their evoked set of considerations when researching pain management therapies. Another possibility for these campaigns could include posters and information packets inside doctors’ office waiting rooms etc. Since a potential patient could be considering surgery for the level of pain they are experiencing, advertising a unique non-surgical alternative could be beneficial in sparking interest other than undergoing surgery. The alternative to surgery is a strength established by the company, but categorized as an opportunity for promotional purposes. Promoting the variety of procedures by the company as a unique opportunity as opposed to an “unknown” practice. Threats: FDA: There are two ways that the FDA can pose a threat to Premier Stem Cell Institute, the first of which would be the possibility of the FDA making the guidelines and restrictions for stem cell use stricter therefore causing Premier to have to cease research and treatment. The other option would be for the FDA to make the guidelines and restrictions less strict which would allow for more facilities to open, making competition harder, but also increasing the possibility for stem cell research to receive a poor reputation as cells start to get manipulated and misused. Although it might help Premier to have fewer regulations in the short run, it would most likely eventually hurt the industry and the client’s faith in it. Bad Connotation: Along with the lack of education amongst consumers there is also the threat of bad education among consumers. There are many consumers that when they hear the words stem cell therapy or research they automatically assume that all stem cell treatments involve the unethical use of embryonic stem cells. This issue is one that is very predominant in the media right now because of all of the government involvement in clinics such as Planned Parenthood. The media and society has trained consumers to believe that stem cell should not be extracted and used, which in some cases is considered unethical and is true, but very few people have learned the truth about all of the forms of stem cell therapy. They do not realize that what premier stem cell institute is doing is helping the body heal itself with it’s own fluids. There is also an opportunity here for premier
- 14. 14 to ensure their clients that they only harvest stem cells from the patient's body, and they are not changing or manipulating the cells in any way. Possible Complications: Like any other procedure, there are complications that must be taken into consideration during each consultation. Every patient who enters the clinic has a different background with previous health concerns that need to be addressed. With the assumption of Premier’s PowerPoint presentation, it has been said by Kandace Stolz who is the president and CEO that PSCI is the only clinic in the United States that has published results for using stem cells as a way to relieve back pain. Premier Stem Cell Institute as said in their client presentation that the institute is not aware of any complications using your own stem cells; this presents a threat to their organization because a possible complication could affect their patients in the long run past their seven years of data indicating otherwise. With that being said, patients are still at risk because of the lack of long-term data and still being considered a “clinical trial” for this new type of therapy. Dr. Kenneth Pettine: The best are not always the most respectful. Dr. Kenneth Pettine, is a world renowned Spinal Surgeon and was the first to perform a minimally invasive intervertebral disc repair using bone marrow stem cells. However, his skill and prestige doesn’t translate to the best bedside manners. There have been multiple positive reviews for him but there are a few that aren’t so positive. Most of complaints coming from when he was in charge of surgery, ignoring patients, not being concerned with you, and for having a level of arrogance. Where or not these reviews are credible, they can easily be found and represent a negative stigma toward Premier Stem Cell. As increasing reports of his actions surface it is essential that he gets his emotions and priorities straight and that he focuses the client. Trusting the doctor is essential in any Institution and without trust potential clients will choose another institution to go to. 3. Key Issues: ● Many potential customers are unaware of Premier Stem Cell Institutes’ stem cell therapy procedures and pain management options. ● Potential issue with only seven years of research and data collection for credibility with professional organizations. ● Marketing Efforts must stay inside the $50,000 a month for budget purposes
- 15. 15 ● Marketing and promotional efforts must keep align with Premier’s three target markets, mission and growth plans. ● Initial cost of procedure as are not covered by insurance any fees may occur. ● Lack of education with stem cell therapy, which brings a negative reputation according to the FDA. ● Dr. Kenneth Pettine’s customer reviews found easily online of negative attitudes towards his character. ● Location brings a less convenient option for potential patients in the Denver Metro area and out of state. o Johnstown location because of population and size, does not offer any activities that align with the lifestyle of a weekend warrior. 4. Objectives: ● Increase volume of referrals for Premier by 10% within a 9 month period with promotional efforts such as trade shows, positive word of mouth and promotional activities. Measureable by every customer receiving a short survey how they heard about Premier. ● Increasing the amount of education of prospective patients as well as other medical field staff to a minimum of 2 events per month discussing the benefits of stem cell therapy. This can be done through trade shows, interviews, workshops, presentations and testimonials from former patients and industry experts. ● Increase total marketing monthly budget from $50,000 to $70,000 a month in order to support a larger marketing team (allocating $20,000 to salaries and expenses). In order to implement the rest of the Objectives over time, it is necessary for this budget change to be in effect immediately. ● Partner with 2 golf courses by the end of the year to sponsor a tournament. By partnering with 2 courses Premier can find out that if this is a viable option to introduce new customers. By selecting 2 this gives you the chance to compare and contrast the results of the two courses, if one was significantly better Premier can find out why and focus on finding more courses similar to that one. Make sure that Premier’s name is on the scorecard and that they offer free golf balls with the company name on it to bring out brand awareness for Premier Stem Cell Institution. ● Increased customer reviews for the month October by speaking with Dr. Kenneth Pettine and the other doctors about customer relations. Discuss elements of customer service and empathy and look at previous month's customer reviews. In the next month check back on the customer reviews and see if a higher number of positive reviews are being released.
- 16. 16 ● Speak with 3 local chiropractors before the end of the semester. Discuss whether they will work with the Premier if their patient is not improving and wants to seek other non- surgical methods. Put in a compensation for them if there patient agrees with an operation.
- 17. 17 MKT 479 – Marketing Strategy and Management Milestone 2 Components Dr. Tuba Ustuner Developed By: Bryan Wholey November 11, 2015
- 18. 18 5.1 Sub - segmentation Strategy: The sub-segmentation strategy I will be using involves targeting weekday and weekend golfers at Heather Gardens Golf Course. A local course in Aurora Colorado just 59 miles away from Premier Stem Cell, an hour’s drive in a car. This golf course is located between 6 different retirement homes, and the average age of these customers is 65 years old. These weekend warriors tend to have a high disposable income and are often need of assistance their joints get worse and worse. I am familiar with this segment because I worked on the golf course last summer and I believe that these consumers would be more than willing to try Stem Cells. Pros The pros of using this sub-segmentation strategy is it targets a large population that has a large disposable income. Another pro is that this segmentation is close to Premier Stem Cell Institution and could use the serves that Premier Stem Cell offers. From my observations, from working there, it was clear that this segment has joint pains and has the money to pay for procedures to improve them. Cons This Sub-Segment is more than likely not familiar with what Premier Stem Cell does as well as what Stem Cells can do for their joints. Another con is that Premier Stem Cell doesn’t have any connections with this golf course and would have to introduce themselves and partner with them so they can began to advertise on the course. Another con would be it would involve time and money to become partners with this golf course. 5.2 Sub Segments: The most relevant Sub-segment is the everyday golfers at Heather Gardens Golf Course. I believe that this is the most relevant because from my observation at working at the course this segment can benefit the most from Premier Stem Cell’s services that they offer and this segment can afford the costs associated with the services. I will refer to this sub-segment as The Experienced Golfers. Pros I chose this sub-segment as opposed to ages 50+ single Males because I believe that you can target a golf course and really focus on your core values at the golf course and through word of mouth at the golf course these consumers may talk about it at other golf courses. These golfers according to golfweek play 10 to 20 different golf courses per season and with all these golf course they tend to be paired up with different people which might result in word of mouth marketing. Another pro is that this sub-segment is concentrated in an area with multiple golf courses in the area. In Aurora, according to city of Aurora, there are 8 different courses and consumers are more than likely to play them all at least once per season. By selecting one course the members there are more than likely to go to other courses and tell pentinal customers the experiences that they had with Premier Stem Cell if the procedures worked for them. Cons
- 19. 19 This course isn’t the most popular course and only offers nine holes. This course also isn’t marketed that well and could result in customers not knowing about the course, ergo not learning about what Premier stem Cell has to offer. This community may not also like to travel long distances due to their age and physical being. 6.1 Differentiation and Positioning Strategy Positioning Statement: Among The Experienced Golfers, Ages 65+ who golf on the weekdays and weekends, Premier Stem Cell Institution is the best brand that can lead to the joint pain relief with the most research to back it up with their world renowned surgeon causing you to play better on the course. We want to target customers to view the product as an alternative to surgery performed by one of the leading surgeon in the industry as well as a way to improve their golf game. I believe that members of this segment will use stem cell therapy to treat joint issues that they can have in their knees and elbows in order to be relived of pain. Golf from my experience, puts lots of stress on the joints; injuries are certain to occur after a long period of time of playing. The key values sought by this segment is a quick recover time and the ability to perform their best on the course. Most of this segment tends to walk the 3 miles that a golf course is as well as they tend to stand around a lot. This puts a lot of pressure on their joints and it is important for them to not feel pain when they are in the middle of their swing. I would position the service as an alternative to modern day surgery and that this product uses your own cells to heal your body. As well as this position I would focus on the idea that it will help them increase their golfing performance on the course. Almost every golfer I have meet, over the 15 years I have been playing, they want to find a way to improve their score. Positioning the product in such a way that it will improve their score on the course could be a huge selling point. As a whole, the golf industry’s revenue is $24.1 Billion out of that 15% include services, equipment rental and sales according to IBIS World, which represents a large amount of money consumers are willing to spend. This segmentation specifically wants something versus another segmentation that may need something different to improve their game. This segmentation wants to improve their golf score and relive pain at the same time, another sub-segment my need this in order to function properly but this sub-segment want this. This segmentation also has a large amount of disposable income, a majority being retired versus another sub-segment that may not have this type of disposable income at their hands. 7.1 Promotion Strategies: Promotion Strategy: The first thing that this client should do about promotion for this particular target segment is to communicate with Heather Gardens. I would suggest making a few sales calls to Heather Gardens’ golf course and offer to put on a golf tournament for the club of 50 members. If this is found affective they could branch out to other courses. This golf tournament would be a great promotional option for Premier Stem Cell Institution to get their name out there. This tournament could consist of offering free golf balls that represent their name on the ball, as well as putting their name on some tees would be a great way to spread their name around. It is very typically for golfers to not pick up their golf tees or lose them on a
- 20. 20 hole. Golf tees are not very expensive and would offer a simple but effect way to spread their name. Along with the golf tees the golf balls will last a long time and if they lose it someone else might pick it up and want to learn more about the company and do their own research. By putting their name on the tees and the balls it wouldn’t only represent buzz marketing at Heather Gardens but if they lose the tees at another course or the balls then that course would also put their name out there. On the back of the golf cards it would also be good to have some facts about the institution and what they do and what they can do for joints. It is more than typical for golfers to look at this card multiple times throughout the round and may draw attention to Premier Stem Cell. As well it would cut costs down on the golf course if Premier Stem Cell offered to print the cards for them; given that they could have their name listened on them. Pros The company will get their name out to hundreds of different of people. If the promotion is successful they may be able to implement it at other golf courses further putting their name out there. It be within the constants of their marketing budgets as well as word of mouth marketing is free for them. This would also directly target Weekend Warriors. Cons This promotion comes down a lot to the golf course accepting their proposal of partnering with them. Bad weather could result and the whole promotion could be a waste of time. It is very competitive to throw tournaments and the course may ask for a high amount of money according to when the deal is arranged. Implementing and Costs: Things that Premier Stem Cell needs to take into consideration is when to put on this tournament and how much it will cost to implement this partnership. I would suggest try to make contact with Heather Gardens in the Winter time and make a deal with them early in the season when they could use the revenue in order to prepare the course for the spring season and summer season. The person that you would need to contact is Brian Benko, the superintendent, his phone number is 303-755-0652, and the email for management is, management@heathergardens.org. By making a deal early on in the season it would provide Heather gardens more of a reason to take their deal when there are in need of money. The actually time they should have the tournament is early in fall. This way if consumers want to have injections of stem cells they would have time to recover over the winter season and be ready to play again in the Summer and the late Spring time. The costs associated with the event follows. Service Cost Quantity Rational Rent the Course for a Tournament $600 1 Expensive to rent out a course for a tournament Banners and Signs $250 2 / 10 Let people know that you’re sponsoring the tournament. Get them excited to play. Hole-in-One Insurance $262 1 This insurance allows for you to sponsor a
- 21. 21 hole-in-one contest without having to worry about paying out checks. (odds of getting a hole-in-one 1/12,500) Custom Golf Balls (Titles Pro V1) $795 15 Boxes By providing customers with higher quality golf balls they are more likely to use them. 15 boxes will result in 60 sleeves, at least 1 per person leaves with 2 boxes left. Custom Golf Tees $250 1000 By supplying the course with lots of tees your name will be spread around the course even after the tournament is over. Custom Golf Scorecards $5000 50,000 You can supply facts about the company and the course will continue to use them for the whole year. I would suggest that you use a current employee who enjoys golf to run this event, ergo they can answer any questions that may come up on the services that they supply as well as connect with the golf courses. Product Strategy: The product that Premier Stem Cell offers is very unique and new. A lot of people are unware of what the product or service that Premier Stem Cell offers may benefit its target market of weekend warriors. I am suggesting that Premier stem cells offers free video information of what their product does. This video would be located on Premier’s Website as well as their social media page, Premier Stem Cell Institute on Facebook. Pros This would allow for customers to understand that Stem cells can heal a wide range of issues that customer may be having. By creating an online video that goes in-depth to what Premier Stem cell does this may result in patients willing to be more inclined to use their services. This video would introduce how the stems are extracted from the patient’s own body and reused to repair damaged tissue over time. This would also be a great way to inform customers if they don’t want to read through the website to see what they can offer for them.
- 22. 22 Cons Have to create a video that would be viewed by hundreds of people would initially not increase the number of new customers. This would also require someone to edit and shoot the video as well as making sure that everyone in the video was ok with being there. This would take time but I believe it would ultimately lead to new customers in the long run. Implementing and Costs: To implement this product strategy Premier would first need to hire a professional camera guy to film and edit the video. I would suggest that they use mandy.com to find this prospect. This prospect would be in charge of shooting and editing the video. Once Premier finds a cameraman they can then discuss a script that will feature all the procedures that they offer to inform customer of what they can do for them. This video and script can be managed by the Surgeons as they are more informed about what the company does more than anyone else. It is very important that this script is educational and the customer will walk away from it understanding what Premier does as well as what Stem cells can do in general. The final video should be approved by the CEO and uploaded to the website and social media page for a future customer could easily find. Service Cost Rational Hiring a Cameraman $600 ($200/day 3 days) Making sure that the video looks as creditable as possible is huge in determining if a customer wants to proceed with a procedure or not. Developing the script and uploading the film $100 Requires someone to take the time to develop the script and upload it to the website and Social media platforms. Although this video could be shot by one of the staff members the higher quality video will more likely spark interest compared to a poorer quality video. If someone in the department has knowledge of shooting videos then I would suggest that Premier uses them if the $200 amount per day is too high, but in this case Premier should really focus on quality as this video maybe viewed by thousands of potential customers. Place Strategy: The last strategy that I would mention for Premier Stem Cell would involve a place strategy. It was clear that from my research that education and location were the most important to customer to determine if they want to pursue a procedure in stem cell versus not. I am suggesting that you open up another office that would not offer the procedures but an office to educate and consult with customers about future procedures. This office wouldn’t involve any surgeons but employees to talk with the customer to determine if stem cells would be right with for them as well as a place a customer could learn more about stem cells and what Premier does. I am
- 23. 23 suggesting opening this office up in Denver by the Kennedy Center and offer free shuttles to Premier Stem Cell Institution if they decide to have a procedure. Pros Offers a location for a customer to go to learn more about stem cells and what they can do. Would be a location in Denver near weekend warriors. Would result in more customers for premier stem cell and open up space at their current location. Cons Like any promotion this wouldn’t be cheap. It would require more employees to staff it full time as well as create more variable costs for the institution. Wouldn’t offer the actually service so customer would either have to drive or take a shuttle to Premier to get their procedures done there. Implementing and Costs: I would suggest that you contact cam@residentialniche.com, 303-888-7741 in order to lease an office space. This is a direct contact in order to get an office space in Denver in a great location, right next to the Kennedy center. After you start to rent the office you would need to hire more employees and fur edge the office space and make it presentable. The hiring of new employees would require a bit of training that I would suggest that a current office rep is in charge of to make sure that they understand what Premier does fully. For the recruitment I would suggest going to college fairs and hiring new grads that would be in charge of consulting for Premier stem Cell, these employees would more than likely have some knowledge of stem cells if they have a biology degree. For this promotion you would also need someone in charge of running a shuttle program to make trips to and from this location to the actual Premier Stem Cell location for procedures. I believe this to be the best action because it would allow for the customer to have convince and not have to worry about driving out to the current location but simply driving down Havana Street to get to this office location in Denver/Greenwood village. I expect that the CEO would go down to this location here and there and especially during opening to meet potential customers. When the building is first opened I would also suggest to contact the golf course and see if their willing to recommend customers there if they get injured or complain when golfing. These ideas would all cost money and the following table details the costs that Premier can expect to incur when implementing this strategy. Service Cost Rational Office space $1,750 per Month Need a building to Rent Furniture $5,000 This office will require furniture. Employees $100/hr (5 employees $20/hr) Need someone there to run the office and inform customers. Training for the Employees $30/hr (3 employees $10/hr for 1 month) A few people need to come in and help get the new employees up to speed about
- 24. 24 what they offer. Shuttle Employee Vehicles $300/day $90/day (3 Vehicles $30/day) Someone needs to be hired to shuttle employees to and from there to the Location for the procedure because this location will not have the equipment. Recruitment $1000 Hiring the right people will decrease the amount of time it would take to train them. Other Expenses $500 Other expenses may include posters, and banners and little variable things. Although this promotion has a lot of variable costs in the long run more customer will do the procedure if they feel comfortable with the procedure and know what they are going to do. As well as a location closer to Denver will have a wider range of clients to get. 8. Financial Analysis, Budget, and Pro Forma Statements Excel File 9. Contingency Plans: The future is never certain and unexpected actions may occur. If Heather Gardens declines the idea to collaborate with them you can choose another golf course such as Heather Ridge a course just 2 miles away from Heather Gardens or branch out to a local course such as Mad Russian Golf Course, located in Milliken Colorado, just outside of Johnstown. Ideally you would want to choose a public course because a wider range of people will play there rather than a tight niche group that are members at the country club. If Heather Gardens agrees but the timing doesn’t work for them in the Fall, you could always put the tournament on during the late Summer or early Summer. Ideally you want to people to start to think about Premier Stem Cell institution during the off season but just having that name sit in their mind for a longer time will still be beneficial. Since this market segment has the disposable income there shouldn’t be too much worry about the economy turning out to be considerably below average, however you it’s important that weather turns out to be nice on the day of the tournament. If it is raining on the planned day I would strongly suggest you to give a rain delay and do the tournament the next weekend if possible. The weather being bad is unpredictable so make sure that customers preregister in advance, ergo they are more likely to come to the event even if it is raining or windy out. Another thing you may need to consider is free transportation to the institution. This way if the customer doesn’t feel conformable driving the 59 miles to the Institution they can take this free transportation there and back. Making it as easy as possible for these customers to make their way to Premier Stem Cell will make them more likely to try Stem cell therapy. The future is unclear and things can happen but if you can successful partner with this golf course who’s to say you can’t partner with more and really target your Weekend Warriors.
- 26. 26 https://www.facebook.com/PremierStemCell/?fref=ts http://www.mandy.com/index.php?country=US In-depth Interview Potential Client number one: “Jay” (not real name) At the start of the interview I introduced myself, and talked to the potential client about what I was going to interview them about. I gave them some background of my project that consisted of telling them that their name wouldn’t be associated with the information that I gather from them and that the information found would be used in my Marketing Capstone class MileStone 1. I also let them know if they didn’t feel conformable answering any certain question that they could skip it and come back it to it if they felt the need at the end of the In-depth interview. The general flow of the interview ended up me going through simple to answer questions into more in-depth questions about the topic finishing off with demographics on the potential client. The interview took place on October 10th at 2:00pm at the City park public golf course and lasted almost 30 minutes. During the interview I did the best I could to record the questions that I asked as well as quoting what they had to say based on the questions. The first question I asked was, “What is your general feeling toward stem cells? Potential client: “I don’t really know much about stem cells, to me they seem to be viewed negatively by a majority of people.” Follow up question: “Why do you think that is?” Potential client: “I’m not sure, it seems that there has been a lot of negative news of people using embryonic stem cells illegally on the TV. With all the negative news that I have seen it has made me want to stay away from using stem cells.” Follow up: “How familiar are you with stem cells?” Potential client: “Like I said I don’t really know much about them.” Following Question: “Have you ever thought about using stem cells?” Potential client: “No.” Following Question: “Have you ever had a surgery or been seriously injured?” Potential client: “Yes, I have” Follow up: “Can you tell me where and what you’re doctor recommended?” Potential client: “Sure, I have a bad knee injury that occurred from skiing. On the weekends I like to get up to the mountains if I can and hit the slopes. One day, I was skiing through some bumps and I caught some ice which caused me to take a bad fall. I could tell from there that I had done something serious to my knee. After a few weeks my knee still wasn’t feeling better, so I went and visited a local doctor in the Denver area. From there, my Doctor mentioned that I had a particle tear in my ACL, and that I would need surgery in order to fix it.” Follow up: “What did you end of doing?” Potential client: “I ended up doing the surgery. Which ended up costing me $5,000.” Follow up: “Was the cost an issue to your decision?” Potential client: “Cost wasn’t as important to me as a smoothly recover. I didn’t mind having to pay the $5000 fee because I hoped that it would allow for me to get back to my activities i enjoy quicker. Follow up: “Is that the cost with or without insurance? As well as how long did it take you to recovery from your surgery?” Potential client: “That was the cost without the insurance covering the cost. My insurance didn’t cover ACL injuries, so I had to pay for it out of pocket. I would say that it took me around half a
- 27. 27 year to full recovery from my surgery. It was really slow and painful to have to walk around during that time as well as it took a while to actually set up the surgery and have the operation done. Follow up: “Would you say that was the best option for you at the time?” Potential client: “I didn’t really know of any other choices at the time and my doctor was convinced that it was the best choice and I couldn’t take the pain any longer and i wanted to get back to doing what I loved. I really wish that I would have been able to set up my surgery quicker and wish the recovery time was faster. Follow up: “Why do you wish the recovery time was faster?” Potential client: “It would have been nice be able to play golf during that summer, but because of my surgery I was unable to play and do some of the weekend activities that I enjoy doing.” Follow up: “Because of your injury were you not able to go to work?” Potential client: “Most of my work is done in an office but I was unable to make it for a few months because I was told to put as little pressure as possible on my knee during the healing process. Follow up: “If you had the option to do the surgery again would you or would you look for other alternatives? Potential client: “I think because it was such a pain in my ass that I would more than likely look for different alternatives. It was nearly a full year when everything was said and done that I was back to normal I wish there was a faster way for me to recover. Follow up: “Did you try to look at any alternatives at the time? Potential client: “No, I trusted my doctor that he was have the best course of action for me to have the best results, so I went with what he had to say.” Following Question: “How would you describe your lifestyle?” Potential client: “What do you mean by that?” Follow Up: “Like would you describe yourself, as someone who does everything on the weekend? Are you active? Do you ski often? Do you play golf a lot?” Potential client: “I tend to do all my physical activities on the weekend. I am busy during the week most of the time and I tend to ski a lot during the winter on the weekends and during the summers I would say that I spend most of my time outside either golfing, running, or biking. I am very active when I can be.” Following Question: “How old are you?” Potential client: 48 Following Question: “Ethnicity?” Potential client: “Caucasian” Following Question: “What type of education do you have?” Potential client: “I’m a College graduate with a bachelors in Architecture.” Following Question: “Where did you hurt yourself?” Potential client: “At Winter Park in Colorado. About 4 years ago.” At the end of the interview I thanked him for taking time out of his day to meet with me and talking with me about stem cells. And let him know that no identifying name would be used in report when I summarize what he had to say. As well as got promotion to use any thoughts that he had about stem cells in the report. In Depth Interview Potential Client number two: “Jeff” (not real name)
- 28. 28 At the start of the interview I introduced myself, and talked to the potential client about what I was going to interview them about. I gave them some background of my project that consisted of telling them that their name wouldn’t be associated with the information that I gather from them and that the information found would be used in my Marketing Capstone class MileStone 1. I also let them know if they didn’t feel conformable answering any certain question that they could skip it and come back it to it if they felt the need at the end of the In-depth interview. This was the second interview I did and I conducted it at October 17th at 7:00pm on the phone. During the interview I did the best I could to record the questions that I asked as well as quoting what they had to say based on the questions. Me: What do you know about stem cells? Potential Customer: Stem Cells are produced in the body that can fight diseases. If it not working it they can use the stem cells to get to your body to work right. Me: What type do you know of? Potential Customer: Will there those that are from the embryonic stack that are used from pregnancies. They use the stem cells from the umbilical cord and that’s where they get most of their stem cells. Me: Have you ever been seriously injured? Potential Customer: Well I slipped my disc. When I had a slip disc the only option I had to remove the disc, or get a spinal fusion, which fuses them together or have an injection done to relegate the pain. Me: How did you slip your disc? Potential Customer: Picking up packages bending and twisting that’s when it slipped. Me: What methods did you use to deal with the pain? Potential Customer: Physical therapy, exercise, spinal injection, strengthen my core to hold my back in place. Me: What types of physical theory? Ultrasound treatments, massage treatments, taught exercises to do to strengthen my back. Me: How much time do you think you have spent/invested lost? Potential Customer: Intentionally, 6 months in rehab, on my own. But I have dealing with this problem for the past thirty years. I have spent countless hours strengthening my back to avoid surgery. Me: Why do you want to avoid surgery? Potential Customer: Because surgery has a poor record of helping your back. Fusion, tends to work internally but then below and above the injury your back begins to hurt again and you are forced to do more fusions. I was also told by many surgeons that if you can avoid surgery do it. Me: What were their main reasons and saying why not to do surgery? Potential Customer: Told by surgeons, and doctors if you can live with the pain and manage the pain avoid back surgery. When I worked in radiology. Five or six years before I hurt my back. Me: Do you remember the year you hurt your back. Potential Customer: I did it in 1984. Me: What do you normally do on the weekends? Potential Customer: Now I watch football games during the football season, I play golf, I ride my bike, and I work out if I can. Me: Does your back ever interfere with your activists that you can do? Potential Customer: Yes, all the time. Me: How does it interfere? Potential Customer: Left movable, unable to run, have to be careful not to reinsure my back, it limits the actives I can do.
- 29. 29 Me: What else would you do if your back was 100% Potential Customer: Play more volleyball, I would run, during the summer I would do more active sports that I currently do. I would do more cooking and do more tennis. Me: What do you miss the most before your back injury? Potential Customer: Being flexible without being concerned about how it will affect my back. I miss not having constant pain in my back and not having any quick solutions to help me relieve the pain that I have. Me: Have you looked into any solutions? Potential Customer: Yes I have, laser surgery now where they can trim the disc away that is pinching on the nerve. I got some other exercise to strengthen my back just the other day. There’s some new stem cell theories that they have that could possible help. The real problem is that when the disc moves it pinches on the spinal cord that is where you get the pain. If the disc isn’t pinching than there is no pain. In my case the spinal cord has actually shrank and it’s not pinching on it anymore. Me: Where have you found your information about stem cells? Potential Customer: Talking with doctors, physical therapists and others with similar injuries. Looking on the internet too for a little. Me: What do you think about stem cells? Potential Customer: Good potential, more studies, more time to be studied. Finding more and more uses from them in the last few years. Me: Do you think it’s a good idea to use your own stem cells? Potential Customer: Yes that fine. I didn’t know that you could use your own stem cells. Any idea how much it would of costed you for the spinal fusion? Potential Customer: I was covered by insurance, always been covered. Wouldn’t have really costed me anything, due to workmen’s comp. Me: Why didn’t you do it then? Potential Customer: I wanted to do anything I could to avoid surgery. I didn’t want to have to deal with the bad success rates that surgeons have when they conduct the surgery. Me: Where did you hurt your back? What state: Potential Customer: Los Angeles, California Me: What would you describe yourself? Potential Customer: Very active, have to be because I had blood clots in my lungs and if I’m not they will redevelop. Me: How old are you 66 Me: How old were you when you got hurt 35 Me: What type of education do you have? Potential Customer: College graduate, Post graduate rewards in radiology and nuclear medicine. Me: Ethnicity? Potential Customer: Caucasian At the end of the interview I thanked him for taking time out of his day and talking with me about stem cells. And let him know that no identifying name would be used in report that I have to do. And let him know that no identifying name would be used in report when I summarize what he had to say. As well as got promotion to use any thoughts that he had about stem cells in the report.
- 30. 30