Clinic marketing plan

1.     Executive Summary:
The Meadow Clinic will be a private practice of Dr. David Cutter, who is also a member of AACS. It will be a full service cosmetic surgery clinic, offering premium quality cosmetic surgery procedures at competitive prices. Since this facility will be based in New York City, where comparatively cosmetic surgery procedures cost are almost 50% more than in other states. Therefore Meadow Clinic will become competitive by carrying out same procedures at a lower cost than that being offered by the competition. The average price of a cosmetic procedure is $5000, of which 15% is revenue.

This venture aims to be successful because of one major factor and that is the cost of the procedures. Combined with that the quality of service and being accredited by the relevant bodies such as the American Society of Plastic Surgeons (ASPS), the Meadow Clinic is sure to attract its target customers.

Mission Statement:

“The Meadow Clinic endeavors to provide its valued customers an unmatched experience in every sense of the word, where customers can always trust us with our guiding philosophy of never compromising on quality and safety of procedures.”

Our target market consists of people from the age bracket of 20 to 60 years. It is a researched fact that the older age people, mostly women have a penchant to reverse the years and look younger than their age, also the fact that trends have shifted in recent years and older people who have lived their lives to the fullest, wish to enjoy their older years while having money at their disposal, therefore they look for new avenues of pleasure and excitement.

The objective of the promotion efforts would be to create maximum awareness about the practice with the limited resources available, while keeping in mind not to create any adverse impact (low cost therefore low quality) in the minds of our targeted audience.

Outline your marketing strategy, mission and goals. Include financial highlights such as sales and revenue forecasts, projected growth and market share, and expected profitability. Briefly reference the current market situation as it relates to your product/service and company and outlines the opportunity.

Point out key success factors and/or the major pitfalls you plan to avoid. Reference major actions, changes or trends you anticipate over the next three years, and how these will impact your marketing strategy.

Be sure to include a good Mission Statement.

Ensure that you have clearly stated what your Marketing Plan is designed to do, e.g., measurable goals by which you will increase units sold, dollars of revenue made, etc. What do you want to accomplish?

Your Executive Summary is a synopsis of critical information that is found in the other seven Marketing Plan sections. It communicates to the reader “this is what you will be reading.” Thus, you might include a brief paragraph for each of the following sections that help the reader to understand your synopsis overview of that which they will be following.

You may complete this section last, or work on a draft as you are completing other sections and fine-tune it at the end. Ensure that your Marketing Plan is crisp, succinct, and consistent with other sections and representative of your overall effort. Remember that the Marketing Plan is written in THIRD Person.

Suggested length: 1-2 pages (keep it concise)

2.     Situation Analysis:
The Meadow Clinic will be a private practice of Dr. David Cutter, who is also a member of ASPS. It will be a full service cosmetic surgery clinic, offering premium quality cosmetic surgery procedures at competitive prices. Since this facility will be based in New York City, where comparatively cosmetic surgery procedures cost are almost 50% more than in other states. Therefore Meadow Clinic will become competitive by completing same procedures at a lower cost than that being offered by the competition.

2.1.           Services Being Offered:
The different services that Meadow Clinic will offer include:

Body Contouring

·         Abdominoplasty

·         Breast Implants

·         Breast Lift

·         Breast Reduction

·         Buttock Implants

·         Calf Lift

·         Liposuction

·         Thigh Lift

·         Upper Arm Lift

Facial Cosmetic Surgery

·         Blepharoplasty

·         Face Lift

·         Forehead Lift

·         Genioplasty

·         Lip Implant

·         Malar Augmentation

·         Otoplasty

·         Rhinoplasty

Non-Invasive Treatments

·         Restylane

·         Hylaform

·         Collagen

·         Fat Injections

·         Botox

Facial Rejuvenation

·         Laser Resurfacing

·         Thermage

·         Chemical Peels

·         Dermabrasion

Other

·         Sclerotherapy

·         Hair Transplant

*Source: http://www.cosmeticsurgery.org/

In the first year of operations only Body Contouring, Facial Rejuvenation and Non-Invasive treatments will be offered, while from the second year of operations Facial Cosmetic Surgery will be offered.

2.2.           SWOT Analysis:
The need for aesthetic cosmetic surgery has seen a huge increase over the past couple of years. A number of factors are responsible for this, some of which are an increase in the number of reality shows that follow through different procedures being conducted at the clinics. Also the acceptability of cosmetic surgeries, which were previously considered taboo, is on the rise. Another factor that contributes to this increase is the inclination of young men and women, having a higher than average disposable income, to look good beyond the ordinary folks.

2.2.1.      Strengths
·         Competitive cost of procedures as compared to other clinics in New York.

·         Quality surgeons and doctors having both experience and expertise to perform the procedures.

·         Well qualified support staff

·         A calm and sophisticated environment making the customers or patients at ease.

2.2.2.      Weaknesses
·         Less cash flow for the first year while The Meadow Clinic tries to build a foundation for its cosmetic procedures

·         Little experience of running such a business

·         Difficulty in establishing a reputation and a strong image

2.2.3.      Opportunities
·         Shifting trends of target market.

·         Greater profit margins as the business grows.

2.2.4.      Threats
·         The downward trend of economy may impact future growth of business.

·         Similar services and procedures are being offered by a number of competitors.

·         Reputation of clinic at stake, since these are very sensitive procedures to perform.

The following graph shows the number of cosmetic surgeries performed over the years. It can be seen that the graph is steadily rising and showing a positive trend in recent years, which is a very encouraging sign for The Meadow Clinic.

Provide a complete description of the product or service to be offered, along with an explanation of any competitive advantages or challenges. This can be a totally new product or a line extension.  Consider the “core” product or service, as well as any related services or components that are a part of the total offering. Indicate what need your product or service is intended to fulfill, as well as the problem that it solves for the target market… and that other companies are not solving. Spend time defining and describing your product; a thorough understanding and clear articulation of your product and the market need it fulfills is critical to the successful development of the rest of your plan.

Also offer a situation analysis including a SWOT analysis that is submitted in bullet form. Describe the current market situation, the opportunity you plan to address, any micro- and macro-environment influences, and any relevant historical data you see as important.

Suggested length: 2-3 pages

3.     Target Market:
The Meadow Clinic will be situated in the New York City, and thus the target market for the clinic will consist of both the male and the female population between the ages of 25 to 60 years. Cosmetic surgery is popular among this segment because of the fact that young people have a tendency to look smart and beautiful. Whereas the older age people, mostly women have a penchant to reverse the years and look younger than their age, also the fact that trends have shifted in recent years and older people who have lived their lives to the fullest, wish to enjoy their older years while having money at their disposal, therefore they look for new avenues of pleasure and excitement.

“Our statistics confirm that aesthetic plastic surgery is not defined by race or gender,” said Aesthetic Society president Foad Nahai, MD. “The number of surgical and nonsurgical procedures performed on men increased 17 percent since last year, and 22 percent of the aesthetic procedures were performed on traditional racial and ethnic minorities.”[1]

[2]

The following breakup of the demographics will give a fair idea of our target market population.

3.1.           Market Characteristics
The profile for The Meadow Clinic’s customer consists of the following geographic, demographic, and behavioral factors.

3.1.2. Geographic
·         The geographic target is the city of New York with a population of 8,214,426

·         Mainly people from the affluent areas will be targeted.

·         The total targeted population is 35,000 (approx)

3.1.3. Demographics
·         Primarily female (62%).

·         They range in age from 25-60.

·         They have at least $45,000 in income.

·         36% are professionals.

·         54% are live-at-home parents.

·         The seniors have over $50,000 in household income.

3.1.4. Behavior Factors
·         These individuals are concerned about their appearance.

·         Are naturally comfortable to spend money on themselves

·         The seniors are willing to live their lives to the fullest, having been relieved of all their major responsibilities.

3.2.            Highlights of the Target Market[3]

·         In the year 2007, 18% of the procedures performed were surgical whereas 82% were nonsurgical.

·         There has been a 2 percent increase in the total number of cosmetic procedures from the year 2006-2007. Surgical procedures showed an increase of 8 percent, whereas non-surgical procedures increased by 1 percent.

·         Surgical procedures have showed an increase of 114 percent and nonsurgical by 754 percent since 1997.

·         These were the top 5 cosmetic procedures in 2007: liposuction (456,828 procedures); breast augmentation (399,440 procedures); eyelid surgery (240,763 procedures); abdominoplasty (185,335 procedures); and breast reduction (153,087 procedures).

·         In 2007 the top five nonsurgical procedures were: Botox injection (2,775,176 procedures); hyaluronic acid (1,448,716 procedures); laser hair removal (1,412,657 procedures); microdermabrasion (829,658 procedures); and IPL laser treatment (647,707 procedures).

·         Cosmetic procedures for women increased by 1% from 2006. The total number of procedures women had was 10.6 million, which is 91 percent of the total.

·         There was an increase of 17 percent in the cosmetic procedures for men, which amount to a total of 1.1 million, i.e. 9 percent of the total procedures performed.

·         Most of the procedures were done by people in the age bracket of 35 to 50 – 5.4 million and 46 percent of the total. People from the age bracket of 19-34 had 21 percent of procedures; whereas people of age 51-64 had 25 percent; 65-and-over had only 6 percent while people from age 18-and-younger had less than 2 percent.

·         For people aged 18 and under the most important cosmetic procedures were: laser hair removal, microdermabrasion, chemical peel, otoplasty (ear reshaping) and rhinoplasty.

·        Over the last year Americans spent just under $13.2 billion on cosmetic procedures.

Provide a complete description of your target market(s), indicating how you segmented the larger market. Be as specific and detailed as is appropriate for your product or service and explain why the target market is attractive to you, as a marketer. In effect, why have you decided to approach this market in terms of growth, anticipated opportunities, profitability, etc? Indicate the size of the target in dollars or units, potential for growth, other important characteristics. Address any ethical considerations or possible risks. What marketing segmentation variables have you selected that explain your market segmentation rationale?

Suggested length: 2-3 pages

4.     Competition:
Each and every clinic, hospital or a private practice that perform cosmetic surgery procedure are a potential competitor for the Meadow Clinic. Also there are a number of spas and skin centers that offer noninvasive treatments; these will be considered as substitutes. If we go on and consider each and every competitor around New York, the list would include approximately 1000 practices. Narrowing down the list to the clinics and doctors present in the downtown New York City the list of major competitors is:

1.      David L. Abramson, MD
Plastic and Reconstructive Surgery

2.      John E. Sherman, MD, FACS
Plastic and Reconstructive Surgery

3.      Joel R. Studin, MD, FACS
Plastic and Reconstructive Surgery

4.      Richard Swift, MD, FACS
Plastic and Reconstructive Surgery

5.      Nadia S. Afridi, MD, FRCS(C)
Plastic and Reconstructive Surgery

6.      William B. Rosenblatt, MD, FACS
Lenox Hill Plastic Surgery Center

7.      Darrick E. Antell, MD, DMD, FACS
Plastic and Reconstructive Surgery

8.      Dennis Barek, MD, FACS
Millennium Plastic Surgery

9.      William K. Boss, Jr., MD, PA, FACS

10.  Dr. Jeffery R. Fischman

11.  Sleek MedSpa

12.  Skintology                                         Total Skin and Laser SPA

13.  Chelsea Eye & Cosmetic Surgery

14.  Park Plaza Plastic Surgery, New York

15.  Dr. Philip Miller, MD, FACS

16.  Park Avenue Plastic Surgery

17.  Tribeca Plastic Surgery

18.  Central Park Plastic Surgery

19.  Godfrey & Godfrey

Source[4]

4.1.           Primary Competitors:
The two primary competitors for The Meadow Clinic would be:

1.      Park Avenue Plastic Surgery Clinic[5]

2.      Chelsea Eye & Cosmetic Surgery

There are also other relevant competitors present, but the clientele The Meadow Clinic wishes to serve are the same these two clinics are serving, therefore these are our two primary competitors. A brief analysis of both is given

Park Avenue Plastic Surgery Clinic:

The Park Avenue Plastic Surgery Clinic is the practice of Douglas M. Monasebian. It is situated at 784 Park Avenue, New York, NY 10021.  The website of Park Avenue clinic is www.parkavenueplasticsurgery.com. A complete range of services are offered by Dr. Monasebian in the following categories:

Facial Aesthetic Surgery
Facial Reconstructive Surgery
Breast Surgery
Body Contouring
Skin Enhancement
Laser
Also a range of skin care products are available at the clinic. Park Avenue takes pride in the expertise of Dr. Monasebian, who is also a member of a number of prestigious organizations and societies on Plastic Surgery. Park Avenue has an excellent image, and no such malpractice or a procedure have gone wrong in recent years, which would have given a bad reputation to the clinic.

The only drawback we can say that Park Avenue has is the high cost, and this is the area which Meadow Clinic needs to exploit.

Chelsea Eye & Cosmetic Surgery[6]:

Chelsea Eye & Cosmetic Surgery, located at Manhattan, NYC, 157 W 19th Street, New York, NY 10011. This facility serves as eye as well as a cosmetic surgery clinic. Dr. Joseph Eviatar specializes in cosmetic surgery of the eyelids and surrounding structures of the eye, whereas aesthetician, Jane MacKinnon, performs a full range of cosmetic procedures. Also a special plan can be made in order to recuperate and gain confidence after a surgery is performed.

Since patients have a lot of questions regarding the surgical and nonsurgical treatments Chelsea Eye & Cosmetic Surgery clinic has developed a buddy program, where prospective clients can call and get the relevant guidance and information related to the different procedures, and what will be best suited for them. The clinic also has an arts gallery so that patients can relax and feel comfortable. The website for Chelsea Eye & Cosmetic Surgery is http://www.chelseaeye.com/cosmetic-surgery-new-york-city.htm

4.2.           Competiveness:
The services offered by the Meadow Clinic will be more or less the same as being offered by the competition.

This is because of the fact that the field of cosmetic surgery is regulated by a number of governing bodies on health. Therefore any procedure beyond its scope is strictly prohibited.

The Meadow Clinic will set itself apart from the competition by offering

·         Competitive cost of procedures as compared to other clinics in New York.

·         Quality surgeons and doctors having both experience and expertise to perform the procedures.

·         Well qualified support staff

·         A calm and sophisticated environment making the customers or patients at ease.

One thing that will really set The Meadow Clinic apart will be the competitive cost. As mentioned before, the prices in New York are comparatively much higher than in other states, therefore The Meadow Clinic wishes to charge its customers relatively less, so that people from mid income range can also avail cosmetic surgery treatments.

4.3.           Substitutes:
In recent years a number of skin treatment clinics and specialty spas that offer different types of noninvasive treatments, have come up. Though they are not a direct substitute for each and every treatment, but still both cosmetic surgery and skin care spas address the same need of consumer and that is the desire to look beautiful.

4.4.           Countering the Competition:
As the Meadow Clinic will enter the market with a lower cost of procedures, certain other clinics that do not have an established clientele will certainly follow the same strategy by bringing their prices down too. These endeavors will be countered by The Meadow Clinic’s strict adherence to its quality polices and standards. It will then rest upon the advertising and the promotion to reach the right audience and getting the message across to them.

Include a comprehensive list of current and potential competitors and substitutes. This list could be organized by industry, company type, or by firm. If this list is a very long one, focus on those that you see as most important and indicate why.

For your top two (2) primary competitor(s), offer a detailed analysis of their strengths and weaknesses, as well as the strategies likely to be used by each upon your entry into the market.

Provide as much relevant information as you can find about your chief competitors: size, current market share, product quality, growth, financial stability, image, marketing strategy, target markets, and any other data you consider important. Do not skimp on this; know thy enemy! RESEARCH!

Discuss how your product/service compares (features and benefits, target market, etc.) to that offered by the competition. In addition, share how you plan to differentiate your product from the competition. Why might people buy your product/service instead of the others offered by your competition in the same general category?

Be sure to address substitutes. Are there any substitutes for your service or product offering? Identify the primary substitutes, discuss strengths and weaknesses of those substitutes compared to your offering. If there are no substitutes, indicate this.

As you will likely encounter competition when you enter the market, what is your plan to respond to competitive counter thrusts? How will they likely respond to your entry into the market?

Suggested length: 2-3 pages

5.     Pricing Strategy
The pricing strategy that The Meadow Clinic will follow will be cost plus markup. A major portion of the cost includes the surgeon’s fees, i.e. 60 to 80%.  Also the prices quoted normally include anesthesia fee, operating room fee, and implant fee.

A list of prices being charged in New York is listed below[7]:

·     Arm Lift (Brachioplasty)
$5000-6500
·      Laser (CO2)
$4000-5000

·     Blue Peel
$500-700
·      Lip Augmentation
$600-2000

·     Botox
$200-400/area
·      Liposuction (1 area)
$2500-4500

·     Breast Augmentation (saline)
$5000-6500
·      Liposuction (3 areas)
$5500-7000

·     Breast Augmentation(silicone)
$6000-8000
·      Liposuction (5 areas)
$8000-10,000

·     Breast Lift
$5000-6000
·      Medium Peel
$1500-2500

·     Chin or Cheek Implants
$3000-4500
·      Micro Peel
$60-100

·     Collagen Injection
$500-1500
·      Nose Surgery
$5000-6000

·     Deep Chemical Peel
$3500-5000
·      Pectoral Implants
$6000-7000

·     Dermabrasion
$2000-4000
·      Permanent Eyeliner
$300-1000

·     Eyelid Tuck (upper & lower)
$4000-5500
·      Permanent Lip Liner
$300-1000

·     Face Lift
$7000-9000
·      Spider Vein Rx (Laser)
$400-1000

·     Forehead Lift (Brow Lift)
$3500-5000
·      Spider Vein Rx (Sclero)
$200-500

·     Hair Removal (Laser)
$300-800
·      Tattoo Removal (Laser)
$300-800

·     Labioplasty
$2500-4000
·      Tummy Tuck
$6000-8000

·     Laser (Erbium)
$2500-4000

It must be noted that as mentioned earlier, these prices are a bit higher than what is the national average for these procedures. The Meadow Clinic seek to charge its customers the same prices that are national average and approximately 50 percent lower or  it may be a bit higher than the national average, keeping in mind the promotion costs, but still the prices will be lower than what is being charged by the competition in New York. This move will surely attract the target customers. The fixed costs would include the installments that will have to be paid for the equipment and the premises. As for the variable costs, these would greatly vary according to the procedures being performed; furthermore the utility expenses and the medicines would also be incurred.

Special packages will be offered if more than one procedure is performed, which will also depend on the cost of the procedure.

Propose a pricing strategy for the product/service and support your choice. Indicate your pricing structure, show examples, offering an average or range in price varies according to volume or other circumstances. Explain whether you will have special offers, discounts, or allowances for each market channel. Consider how your proposed price fits into the target market and compares to the competition. Your pricing should allow for sufficient profitability to allow you to cover your essential fixed costs (FC) and variable costs (VC) on which you will want to reflect (but do not have to be listed). Be sure to consider the costs incurred via your Promotion Budget section, as this cost of PROMOTION needs to be built into your pricing and revenue considerations.

Suggested length: 2-3 pages

6.     The Clinic:
The Meadow Clinic would be established in somewhere around the downtown Manhattan, since this would be an easy place to commute for our target customers. It will also be taken care of that the clinic is a bit away from the hustle and bustle of the city, and provide a peaceful environment to the patients.

Also the fact that a main portion of the target population is professional people and working fulltime, therefore it will be the clinic’s endeavor that these people do not have to waste time commuting to the clinic. Rather just drop by for a quick referral, between or after their office timings.

The actual clinic would consist of a consultancy clinic, a surgery room, plus three or four rooms for individual or dual occupancy patients. These rooms would of course be increased as the business starts to grow. There would also be a full service gym and fitness area for the patients, to make them feel at ease.

Describe the proposed channel strategy for the product/service. Consider how you will manufacture, warehouse and move the product. Include information about wholesale, retail or direct channels, as appropriate; support your choices of distribution channels. Indicate what’s in it (estimated revenue) for each of your channel partners.

If you are using a sales force to help distribute, as well as to promote your product, you can discuss selection, compensation, training and management of your sales staff here (or you may address this under Communications). Same for direct marketing — if direct marketing is a primary channel of distribution discuss here; if used mostly as a communication tool, include it in that section.

If you are providing a service, then you are a direct channel service provider and a channel of distribution will likely not be part of your marketing mix. Yet, you would want to include a description of your physical facility, how you will deliver your services to your customers, and other related topics that point to the “tangibility” of how you will provide your service, how it might be packaged, etc.

Suggested length: 2-3 pages

7.     Promotion Activities:
The promotion campaign of The Meadow Clinic will be based upon the tagline:

“FEEL GOOD-inside out…..”

This tagline would become the basis of all the advertising and promotion that The Meadow Clinic will go for. In addition to this the color theme of the clinic would be light green and white. This scheme is being adopted because of the serene nature of the light green color; where as the white color exemplifies a soothing and peaceful effect. This color theme would go into all the promotional material including banners, pamphlets, brochures, advertisements, discount coupons and the website.

A special focus will be placed on the designing of the website, since none of the competitors have an impressive website and also because of the fact that a website is the first impression a customer gets regarding the practice. The website of the Meadow Clinic would be made in flash. It will be highly informative with links to various information resources, and at the same time being user friendly.

7.1.           Channels of Advertising:
The objective of the promotion efforts would be to create maximum awareness about the practice with the limited resources available, while keeping in mind not to create any adverse impact (low cost therefore low quality) in the minds of our targeted audience. The different channels that would be used for the promotion purposes would include:

1.      Seminars:

Seminars and guest speaking sessions will be arranged and sponsored, relating to information about the procedures, their costs, repercussion and general awareness.

2.      Brochures and flyers:

 These will be distributed at hospitals, malls and shopping centers and also at designated pharmacies.

3.      Doctors:

Doctors at leading hospitals will be briefed about our clinic, costs and the quality of services, so that they can refer their patients to us.

4.      Opinion Leaders:

Opinion leaders will be informed about the venture, their valuable feedback and suggestions will collected and they will be invited for the launch, and at different guest speaking sessions and seminars that will be arranged by the Meadow Clinic.

5.      Direct Marketing Channels:

Direct marketing channels such as direct mail and e-mail will be used. Also a toll free number will be established, whereby potential customers can call and get any type of information regarding cosmetic surgery.

6.      Newspaper Advertisements:

Newspaper advertisement would be given in The New York Times newspaper and coupons for free consultation will be placed in the magazine.

7.      Online Advertising:

Online advertising using Google’s Adwords service will be done, since this is a very useful yet a cheap method.

8.      Website:

As mentioned before a multipurpose, easy to use web portal will be established, which will serve as a virtual communication centre, where people can get all the information needed about the procedures, their costs, repercussion and general awareness.

This is a complete description of your proposed promotion plan. Include the strategy, the promotional activities you see as most appropriate and effective for your product/ service, and your plans for execution. Address all levels of marketing channels (if appropriate) and target customer groups.

Consider the appropriate use of advertising, sales promotion, public relation activities, direct marketing and personal selling, as best suits your product and target customer group(s). With whom do you want to communicate and how can you do that successfully at the most reasonable cost? Do you need (can you afford?) expensive print or television advertising, or is there a less expensive way to communicate through news media contacts or by other means?

You will need to create a promotional budget that covers your cost for your efforts to reach your market. Demonstrate application of an Integrated Marketing Communications (IMC) approach, along with your “Clear, consistent message” that your IMC approach is intended to communicate.

Have you communicated within this section your “one, consistent message” that is congruent with IMC?

If you plan to use personal selling or direct marketing and have previously discussed these in your Channels of Distribution section, reference that here and be sure you’ve fully covered the communication aspects of these tools

Consider how your promotional strategy fits with other sections of your plan; check to see that your promotional plans are consistent with the description of your target market, with your budget and overall strategy. Consider how your plan stacks up to competitors’ promotional activities. Be creative, but stay grounded in reality.

Suggested length: 3-4 pages

8.     Promotion Budget
During the first month The Meadow Clinic will set up the new office, define policies, set up appointments and begin with certain marketing activities, such as advertising in association newsletters and local industry specific journals. From month two onwards there will be a few appointments, further more the first several months will see a low key activity. The clinic expects it to take a bit of time before the business starts to grow. Month five through seven will see a steady increase in appointments, after that the business will really start to ramp up.

Marketing expenses and efforts both will be on a higher side during the first quarter to gain visibility for the clinic. After the first quarter they will typically settle down, due to general awareness that will be generated and an increase in the procedures.

The Break-up of different costs that would be incurred for the first quarter are listed below:

8.1.           Monthly Expenses:

Months
Activity
1st
2nd
3rd
Seminars
$1000
1000
1000
Brochures and flyers
$500
300
300
Direct Marketing Channels
600
500
400
Newspaper Advertisements[8]
2000
2000
2500
Online Advertising
400
400
350
Networking
750
750
900
Website
550
550
550
TOTAL($)
4300
5500
6000

Include in your Promotion Budget your projected dollar costs for promotion for your first year of business. This should be based on your having made a diligent effort to understand approximate expenses for advertising/media and other promotional venues.

It is important that you RESEARCH your promotional costs. Do not “guess” what it will cost to advertise, e.g., in the local newspaper. Your evaluation for this section is based on your having “done your homework” (RESEARCH!) to provide a realistic promotional budget that covers everything that you see as part of your promotional efforts.

Key things that you would want to include, but to which you are not limited, as you budget for your IMC approach to bring your message to your target market, would include the items below. Each item you include in your promotional plan should have a RESEARCHED dollar figure attached:

Television Radio Internet Newspapers (Weekly and Daily) Magazines Outdoor Advertising Yellow Pages Miscellaneous other advertising Advertising Agency services Public Relations services (publicity, etc)

Sales Promotion (what you have created, e.g., magnets, coffee mugs; trade show participation)

Direct Marketing program (Direct Mail, “Permission Marketing,” etc.)

 Personal Selling (salary and 35% benefits, plus expenses)

Suggested length: 2 pages

REFRENCES
Books:

1.      Alan Gaynor. Everything You Ever Wanted to Know About Cosmetic Surgery but Couldn’t Afford to Ask. New York: Broadway Books; 1998.

2.      Dr. Jean M. Loftus. The Smart Woman’s Guide to Plastic Surgery. McGraw-Hill-Contemporary Books; 2000.

3.      R. Merrel, MD Olesen, Marie B.V. Olesen. Cosmetic Surgery for Dummies. Indiana: Willey Publishing Inc.; 2005.

Websites:

1.      Consumer Guide to Plastic Surgery and Cosmetic Surgery, Available at: http://www.yourplasticsurgeryguide.com/. Accessed January 15, 2009.

2.      Cosmetic Plastic Surgery Research Statistics and Trends for 2001 -2007, Available at: http://www.cosmeticplasticsurgerystatistics.com/statistics.html#2007-HIGHLIGHTS. Accessed January 14, 2009.

3.      Find a Board Certified Plastic Surgeon, Available at:  http://www.aboardcertifiedplasticsurgeonresource.com. Accessed January 15, 2009.

4.      Information about cosmetic plastic surgery, Available at:  http://www.infoplasticsurgery.com. Accessed January 12, 2009.

5.      New York Times Media Kit, Available at:  http://www.nytimes.whsites.net. Accessed January 17, 2009.

6.      New York-Presbyterian Hospital, Available at: http://www.nyp.org/health/plassurg_stats.html. Accessed January 13, 2009.

7.      Park Avenue Plastic Surgery, Available at:  http://www.parkavenueplasticsurgery.com. Accessed January 13, 2009.

8.      The American Academy of Cosmetic Surgery. Available at: http://www.cosmeticsurgery.org/. Accessed January 12, 2009.

[1] American Society for Aesthetic Plastic Surgery
[2] American Society for Aesthetic Plastic Surgery
[3] American Society for Aesthetic Plastic Surgery
[4] www.ny-plasticsurgeon.com; www.yourplasticsurgeryguide.com/surgeons/new-york-city.htm
[5] www.parkavenueplasticsurgery.com
[6] http://www.chelseaeye.com/cosmetic-surgery-new-york-city.htm
[7] http://www.infoplasticsurgery.com
[8] http://www.nytimes.whsites.net

Leave a Reply
Your email address will not be published.
*
*

BACK TO TOP