MM group

a) Develop a marketing plan for a small business (either real or fictional) with a brief introduction (1-2 pages) 

b)The final marketing plan should include the following sections with APA formate and references 

1. Cover Page 

2. Executive Summary 

3. Target Customers

 4. Unique Selling Proposition 

5. Pricing and Positioning Strategy

 6. Distribution Strategy 

7. Promotions Strategy 

8. Contingency Plans 

Running Head: AMERICAN CLINICAL LABORATORY MARKETING PLAN 1

AMERICAN CLINICAL LABORATORY MARKETING PLAN 2

American Clinical Laboratory Marketing Plan

Introduction

American Clinical Laboratory (ACL) is a startup limited liability company that has been registered in Washington, DC. The proprietor, Dave Gisted, would manage the operations of the facility assisted by his wife. The duo has laboratory certifications and the requisite know-how and experience in laboratory services. ACL will establish a lease in the Main Street Professional Building, which is occupied mainly by medical professionals in 93 out of 120 offices. A significant percent of these practitioners are in general medicine. The building does not have the laboratory services, making the physicians send the patients across town, a fifteen minutes’ drive, to receive blood tests. ACL is looking to tap into this business opportunity by bringing the services closer to the patients and physicians. It is determined to outsource qualified laboratory technicians outside Washington, as this has been the major hindrance to establishing a lab in the area. Some of the services it will be offering will include a complete blood test, erythrocytes and leucocyte count, blood sugar test, creatine test, and electrolyte test. It would also accept other tests but will have to send the specimen to the central lab. It looks to tap into two market segments staring with the occupied Professional Building, where it expects to get 128 customers with a segment growth rate of 3% annually. This segment would constitute 80% of its sales revenue. The second and last segment will be physicians from nearby vicinity expecting 115 clients and the segment growth rate of 5% annually.

ACL expects that it will be able to break even in a year. It will leverage on accepting several insurance plans, provision of convenience, reasonably priced, private, accurate, and fast blood testing services, and overall customer satisfaction as its competitive strategy. The competition is limited as its closest competitor is 4 miles away, where 95% of physicians in its building segment get their services. This location advantage is projected to increase its market share significantly. ACL will use personal introductions to Professional Building physicians, send direct mail to physicians to notify them of ACL services, and advertise on physicians’ membership platform as its service promotion strategy. The facility wishes to develop a comprehensive marketing plan that would include all the above expectations and activities.

References

Blackwell, E. (2008). How to prepare a business plan. Kogan Page Publishers.

Lucash, P. D., Bassetti, R. D., Magee, J., & Bassetti, W. (2011). Medical practice business plan workbook. CRC Press.

Pinson, L. (2008). Anatomy of a business plan: A step-by-step guide to building the business and securing your company’s future. aka associates.