Marketing Plan
Our Target Market:
Our product will primarily be targeted to newly diagnosed Diabetics since this
transition can be frightening and is essential for living a longer healthier life. Over 20
million people have been diagnosed with some form of diabetes in America alone and
that number is on the rise. There is an estimated 6 percent growth rate of the disease.
Without accurate and constant monitoring of glucose levels and caloric intake, Diabetes
will suffer from both acute and chronic conditions.
Cost:
In order to cover the cost of development and keeping our product affordable to
the end user, our product is will cost the client approximately $50. Since our product is
software, the client must have a PDA and/or a desktop.
Break Even Analysis:
In order to get out of debt from the development phase, we need to sell 26,486
units at a price of $50. The chart below also takes in consideration the weekly salary of
the staff. Also, the chart below assumes that we will sell at least 50,000 units in the first
year which should be achievable with potential market of 1.5 million newly diagnosed
diabetics.
1
2
3
4
5
6
7
8
9
10
sold/week
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
gross profit
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
weekly
salary
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
profit/week
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
Profit
($620,200.00)
($584,540.00)
($548,880.00)
($513,220.00)
($477,560.00)
($441,900.00)
($406,240.00)
($370,580.00)
($334,920.00)
($299,260.00)
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
1000
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
48260
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
12600
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
35660
($263,600.00)
($227,940.00)
($192,280.00)
($156,620.00)
($120,960.00)
($85,300.00)
($49,640.00)
($13,980.00)
$21,680.00
$57,340.00
$93,000.00
$128,660.00
$164,320.00
$199,980.00
$235,640.00
$271,300.00
$306,960.00
$342,620.00
$378,280.00
$413,940.00
$449,600.00
$485,260.00
$520,920.00
$556,580.00
$592,240.00
$627,900.00
$663,560.00
$699,220.00
$734,880.00
$770,540.00
$806,200.00
$841,860.00
$877,520.00
$913,180.00
$948,840.00
$984,500.00
$1,020,160.00
$1,055,820.00
$1,091,480.00
$1,127,140.00
Advertising:
Initially, our product will be exposed to the market via doctor recommendations.
We will being giving doctors samples of our product to ensure that they understand its
features and capabilities to allow them to accurately recommend our product that meets
the needs of their clients.
After we have received doctor’s endorsements, we plan to begin marketing on the
internet as well as medical magazines such as the AARP. This will allow our product to
be exposed to a larger market.
Competition Matrix:
Although products exist that help manage the disease, our product will
incorporate all the features into on bundle. Below is a matrix of our competitors.
SiDiary
OneTouch
Diabetic
ezManager
GlucoPilot eDM
Monitor
Database Of
X
Foods
Manages
X
X
X
X
Carbs Well
Graphs and
X
X
X
X
Charts
Activity Level
X
X
X
Interface with
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
devices
Glucose trend
Monitoring
Meal-related
X
patterns
Easy Data
X
X
X
X
management
Customer
support
X