Ketone MediFind

• Marketing Plan

Having trouble finding a medicine?Hate going from shop to shop?

Now find the shop in your locality which has the required Ketone Pharmaceuticals manufactured medicine in stock, on your phone with the new Ketone MediFind app.

You can also find the Ketone Pharmaceuticals substitute of another company’s medicine, having the same composition.

Cannot venture out?

Want it delivered to your doorstep?

Done.ETA : 2-3 days

EVEN BETTER?Get the PREMIUM serviceBuy directly from dealers

At wholesale prices!

That too,24 hour home delivery

Monthly : $1.59 Yearly : $17

GOALTo increase the availability of Ketone Pharmaceuticals medicines among consumers.

Make medicines easier to find.

Deliver medicines to the doorstep.

To enhance long term engagement with Ketone brand through the app.

Basically, every time a customer opens the app, he engages with the Ketone

brand.Utility of the app helps in drawing

consumer traffic.

COMPETITIONPRACTO Order medicines, book

appointments with doctors

Apollo Pharmacy

Order medicines from Apollo Pharmacy Stores, store locator

MedPlus Delivery from MedPlus stores. Delivers medicine and grocery

PharmEasy Delivery of medicine from stores. Book appointment.

HOW IS MEDIFIND BETTER THAN THE REST?

Locates stores that have Ketone Pharmaceuticals medicines in stock. Does not promote any store, sole focus is on Ketone medicines.

Home delivery directly from the dealers.

Provides opportunity to buy at wholesale prices.

Provides drug information database (only for Ketone drugs).

Utility app. Provides service to consumers : Engages them with Ketone brand every time they use the app.

TARGET CUSTOMERS

Families

Middle age adults

Working adults

Senior citizens

COLLABORATIONS

DEALERS

RETAILERS

DELIVERY SERVICES

HOW WILL IT WORK?

The user sets a radius of search around his location

He inputs the names of the medicines

The app searches for stores which have the medicines in stock, shows them on the map

In case of a different company’s medicine, the app shows a Ketone substitute for that medicine.

User :

HOW WILL IT WORK?User :

Contact numbers of the stores are given for the user to confirm stock

Users can have the medicines delivered to their homes

Delivery typically within 2 days for a charge determined by the distance of the closest dealership or delivering retailer from the user’s location.

Delivery charge waived off for orders above $7.10

HOW WILL IT WORK?User : PREMIUM VersionBuy directly from the dealers

At wholesale prices

No delivery charge for bill over $7.10

HOW WILL IT WORK?Retailer :The retailer has to update his stock on the app

once daily and every time he receives a shipment of Ketone Pharmaceuticals medicines.

He cannot start delivery services without prior permission from Ketone Pharmaceuticals. If he intends to, he has to pay an incentive of 10% of total delivery profits at the end of the month with proper documentation

He will receive Ketone shipments at a 15% discounted price from the dealers if he agrees to be put on Ketone MediFind. Moreover the app increases the discoverability of his store.

HOW WILL IT WORK?Dealer :

Ketone Pharmaceuticals will compensate the dealers for the discounted price at which they have to sell to the retailers.

Dealers will have to collaborate with delivery services for premium deliveries.

Dealers convincing retailers to be put on Ketone MediFind app will be paid $300 per 10 new retailers.

WHAT’S FREE?Store Locator for required medicines

Store contact details

Delivery Service. ETA : Within 2 days

Drug information database (Ketone Pharmaceuticals drugs)

Find substitute for other company medicines manufactured by Ketone Pharmaceuticals

WHAT IS NOT FREE?

Buy directly from dealers

At wholesale prices

24 hour delivery

WHY PREMIUM? Avg Indian family spends on medication : $160/year or $13.4/month

Avg difference between wholesale and retail price of medicines = 16%

If bought at wholesale rate, amount spent = $11.6/month

Amount saved = $1.8/month

Amount to be paid for premium version =$1.59/month, or for the annual pack, $1.4/month.

Therefore amount saved = $1.8 - $1.4 = $0.4/month or $4.8/ year. 

$1.59 per month or $17 per year.

POSITIONINGUtility appDoes the customer a service.

Locates stores with medicines in stock.

Home delivery available.

Overall, makes the buying medicines easier. Makes the stores easier to find and medicines easier to buy.

ADVANTAGES OF SUCH POSITIONING

As more users use Ketone MediFind to look for stores or order medicines, traffic increases.

More the traffic, more users are engaging with the Ketone brand. Thus brand strengthening, thus increasing revenue of Ketone Pharmaceuticals.

Ordering medicines, premium service contribute to revenue and boost sales.

INCENTIVES$2 off on the first home delivery.

On referral to a friend, the user will receive $2 off on his next purchase through the app.

First 500 users will get to use the premium version for free, for 2 months as a part of beta testing.Retailer ties and delivery services would be prepared during this while.

IMPLEMENTATIONSelect one part of the city for beta

testing.

Find retailers and delivery options during the beta testing phase

Start heavy advertising

Expand to the rest o the city

INITIAL ECONOMIC MODELInvestment in 3 quarters, 3 months each

1ST QuarterInvestment : $75,000

To develop the app ~ $50,000

Maintenance of server ~ $5,000

Advertising ~ $20,000Citywide advertising ~ $10,000Digital media advertising ~ $7,000Print advertising ~ $3,000

INITIAL ECONOMIC MODEL2nd Quarter

Investment : $25,000

Maintenance of server ~ $5,000

Advertising ~ $20,000

Income ~ $28,000

Revenue ~ $25,000

In-app advertising ~ $3,000

INITIAL ECONOMIC MODEL3rd Quarter

Investment : $25,000

Maintenance of server ~ $5,000

Advertising ~ $20,000

Income ~ $75,000

Revenue ~ $55,000

In-app advertising ~ $15,000

Q1 Q2 Q30

1000020000300004000050000600007000080000

In-vest-mentIncome

Q1 Q2 Q30

100002000030000400005000060000

Number of Users

Users

Investment vs Income

INITIAL ECONOMIC MODEL

PROMOTION

Build a mailing list to reach out to the senior citizens who may not be as tech savvy, but can urge their sons/ daughters /caretakers to look into it

Collaborate with NGOs and old age homes to use the app and also publicize it

Get tech critics and bloggers to review the app

PROMOTIONSocial media will be the main element of marketing. Use Facebook, Twitter, Google+ to create large following through catchy posts and online contests.

Strike the emotional cord, for example, by showing a doting daughter using Ketone MediFind to make sure her aged parents get their medicines delivered to their doorstep

ADVERTISINGInvest heavily in digital marketing

Print media advertising

Road side hoardings

Banners at retailer’s stores.

CONTENTUse print, digital, social media to position Ketone Pharmaceuticals as a company who cares for the well being of people and makes quality medicare as accessible as possible for them, by rolling out Ketone MediFind

Show how working adults save time by getting medicines delivered to their homes

Show how people don’t have to go from shop to shop looking for a medicine, and use store locator

GOALFor the first 9

monthsHit 2,00,000 active users

Put 75% of the stores on Ketone MediFind

Increase revenues of Ketone Pharmaceuticals by 60%

Successfully cover 1 city

Make a dense network of delivery options (delivery from dealers as well as retailers).

Disclaimer Created by Aniketo Ghosh, Heritage Institute of Technology, Kolkata during a marketing internship under Prof. Sameer Mathur, IIM – Lucknow.