Transcript 10 Step Marketing Plan Orthopaedie Frey Far East , Incorporated

10 Step Marketing Plan
Orthopaedie Frey Far East , Incorporated Arch
Supports
Dalman*Dy*Doromal*Mejia*Ong
Marketing Management
January 8, 2011
Disclaimer
• All information from this presentation is solely
for classroom exercise.
• The author has no professional connection
with Orthopedic Frey
• Data gathered and those projected may be
fictional
What is an ARCH SUPPORT?
• Orthotic
appliance placed
inside shoes
• Provides
underside
support for feet
• Shaped to fit the
arch of the foot
Why the need for ORTHOTICS?
• Accurately and
precisely position the
foot throughout the
gait cycle
• Prescription fitted
• Symptom alleviation
• Proper gait alignment
Part I: PTM and Positioning
1. Main target: Athletes
2. Who want safety and comfort
3. Can choose from other retail
manufactured products (i.e. Dr. Scholl, Nike
shoes)
4. Other brands focus on mass production
and providing comfort only
5. The market size is approximately Php40M
- Orthopedic Frey covering approximately Php
400,000
Part II: Marketing Mix
1. Product: Orthopedic Frey Arch Supports
2. Price: Php 3,000 - 5000 per pair
3. Promotion: educational flyers, events, and
company website
4. Place: Accessible office locations
5. Uses differentiation technique to step up
above its competitors
PART 1: PTM AND POSITIONING
Step #1
PRIMARY TARGET MARKET
Who uses arch supports?
Sports
Enthusiasts &
Hobbyists
Occupations
with
Prolonged
Standing
Professional
Athletes
Feet
Overuse
Frey Primary Target Market
• Professional athletes of national teams
• Daily training and competitive sports
• Requires comfort during and after
activities
• Prevent injury
Step #2
NEEDS, WANTS AND DEMANDS OF
THE PRIMARY TARGET MARKET
The Athlete’s Mind’s Eye
Selfactualization
needs
Esteem needs
I am complete when I reach my full
potential with my game
People will look up to me
when I perform well
Social needs
Safety needs
Physiological needs
Fig. 1: Maslow’s Hierarchy of Needs
I don’t want to be hurt
Step #3
COMPETITION AND COMPETITIVE
POSITION MAP
Competitors
• Direct Competitors: LP
Support Insoles
• Indirect Competitors:
Rubber Shoes (e.g. Asics,
New Balance), Comfort
footwear (e.g. Crocs)
• Variables: Price, Quality,
Customization
Battle in the Shoe
Arch Support
Insoles
• Comfort for the feet • For additional
padding
• Functional support
• Custom-made and • Shock absorption
generic fit
• “One size fits all”
Differentiation: Customizable and Price
PRICE/CUSTOMIZABLE
LOW PRICE
HIGH PRICE
CUSTOMIZABLE
NON- CUSTOMIZABLE
Step #4
THE GAP, THE OPPORTUNITY AND THE
POSITIONING
Filling the Gap
• Customizable to any foot type
• Internal contacts with sports teams (e.g.
professionals, varsity teams, etc.)
• Technical know-how to educate on the necessity of
arch supports
• Good quality materials
• Available repair
Taking a Stand: Differentiation
• Orthopedic Frey customizes arch supports to the
customer’s foot type and size that promotes their
safety during their activities (i.e. walking, running,
basketball)
• Others focus only on patient’s comfort
but may not ensure the
aspects of safety –
specific for athletes.
Step #5: Orthotics Playing Field
• $200M industry in the Asia-Pacific (2008)
• Claimed market share: 1% of all possible
customers
• Monthly sales: Php 400,000 (60% of sales)
• Approximated local market size
is 400,000/0.01 = Php 40 million
PART 2: MARKETING MIX
Step #6: Major Brands
Orthopedic Frey
Dr. Scholl
Branded shoes
Step #6: The Product
• Orthopedic Frey Arch Supports are
customized to specific foot type and size
of the user
• Current Uses: for injury prevention and
improvement of existing problems (e.g.
Plantar fasciitis, Achilles tendinitis)
Step #6: The Product
• Technicians of these products are trained in
orthotics and prosthetics.
• All products are hand-crafted using imported
materials.
• Made with quality, safe and durable
materials.
Step #6: Ordering the Product
MAKE AN
APPOINTMENT
TECHNICIAN
WILL ASSESS
OR CAST FOOT
IF NEEDED
FABRICATE
ARCH
SUPPORT
CUSTOMER
PICK- UP
Step #7: Promoting the Product
• Personal communication with doctors,
coaches of professional and varsity teams
• Word of mouth among existing clients
• Public relations efforts via events (e.g.
marathons, triathlons, tournaments, etc.)
Step #8: Pricing the Product
• P3,000 – 4,500 per pair of customized
arch support
• Additional cost – ergonomic footwear
(e.g. rubber shoes cost around P2500 to
P5000 per pair)
• Insoles are cheaper (P250-500 per pair)
and more readily available (e.g. Malls)
Step #8: Promotional Ideas
Educational
flyer
Step #8: Other Promotional Ideas
• Awareness campaign on the need for
customized arch support to better cure and
prevent sports related injuries
• Use of billboards, health magazines, sports
magazine print advertisements, flyers, and
newspapers
Step #8: Other Promotional Ideas
• Sponsor medical conventions, continuing
medical education, forums, round table
discussions, and company events
• Send medical representatives to introduce and
explain the benefits of the product
• Target podiatrists, orthopedic surgeons and
rehabilitation medicine specialists
Step #9: Where to Find the Product
• Product available in main offices
(Pasig and Cebu)
• Product is picked up in the main office
• Requires at least 2 visits: measuring
and fitting
• Cash, credit and bank deposit
transactions
Step #10
THE WINNING MARKETING FORM
Step #10: Winning Strategy
•
Orthopedic Frey’s main strategy for its arch
support would be differentiation, because of
its customized comfort aspect
•
It can target the niche market of athletes for
their safety in their sports
•
It has an excellent product with user
satisfaction guarantee
SUMMARY
Summary: Marketing Strategy
• Target Market Segments: niche market for
athletes (e.g. Professional and varsity teams)
• Retain customization specialization
• The market size is approximately Php 40
million with Orthopedic Frey covering
approximately Php 400,000
• Proposition / Key Element – Market research
to explore other differentiation strategies
10 Step Marketing Plan
Orthopaedie Frey Far East , Incorporated
Arch Supports
Dalman*Dy*Doromal*Mejia*Ong
Marketing Management
January 8, 2011