There are various parameters that need to be taken into account when writing an effective marketing plan. Today, we are providing an example of amazon’s telemedicine marketing plan provided by Help in Homework’s Essay Writing Services.
Amazon is centered on providing goods online, focusing on selection, price, and convenience. Telemedicine is a product innovation by three big conglomerates, namely Amazon, Berkshire Hathaway, and JPMorgan Chase. Telemedicine aims to address healthcare issues for employees, patients, and healthcare providers.
The focus of telemedicine is to provide medical assistance for everyday health and daily urgent healthcare concerns. Amazon should leverage its brand to facilitate the expansion of telemedicine through Amazon Care Services. SWOT analysis highlights the significant strengths, weaknesses, opportunities, and strengths of Amazon regarding the current mileage of telemedicine.
The SWOT analysis shows that telemedicine is a viable product in consideration of its success in Seattle. As such, the strengths and opportunities reveal that Amazon should utilize this opportunity and expand it through the Amazon Care Services platform to the American market.
The current internal marketing conditions show that Amazon is well-positioned to leverage its resources to compete in the presenting market conditions.
Notable resources include the Amazon Web Services (AWS) to provide structural support, software acknowledgment is evident with software such as Pill Park and Alexa, and a reliable financial backup to facilitate telemedicine.
The external market conditions reveal opportunities and possible threats. Opportunities include meeting the needs of cost-conscious patients and leveraging digital communication.
However, threats in the external environment limiting the success of telemedicine include the current COVID-19 pandemic and challenges with government regulations and reimbursement.
The ideal target markets are primary healthcare providers and existing and potential patent clienteles. The marketing objectives of Amazon’s telemedicine include the financial and marketing standpoint.
The marketing strategy will be a growth strategy, precisely market leader strategy, and innovation to improve customer experience. This is in a plan to capitalize on the Medicare reimbursement plan from the Federal government, increasing clinical cases, and technology.
The product strategy is to utilize technology for continued access between healthcare providers and patients and cost-effective healthcare service at $79.
Telemedicine will be expanded in the Amazon Care app and accessible via technological gadgets to encompass Video Care, Care Chat, and Mobile Care. The primary services between the patient and provider will be general consultation, acute, urgent care needs, preventive care consultation, sexual health, and travel health consultations.
The pricing strategy is based on a “service contract” model for the healthcare provider. Patients will pay through their health insurer or credit-card payment and Amazon Pay for the non-insured patients.
Telemedicine will be facilitated virtually for which it aims to reach up to 250 providers in the first 12 months who will sign-up via Amazon Care portal on amazon.com.
Sending messages will be the ideal promotional strategies to reach care providers and prospective patients. This will be achieved through advertising, sales promotion, public relations, personnel selling, and digital marketing. Revenue forecast within the first year after enrolling 250 patients would be $21 million, and the second year after enrolling 500 providers will be up 82 million for a total projection of $104 million.
The budget for marketing will be scheduled to meet the various marketing needs for successful customer reach and product sensitization, as will be highlighted in the later sections in this report. The projected return on marketing investment (ROMI), after adjustment on contingency expenditure, is 81% of the total expected revenue following a 24-month program after program launch.
Telemedicine is scheduled to launch in May in four States-New York, Virginia, California, and Maryland. Metrics to facilitate this venture will encompass weekly, mid-month, and monthly follow-ups and promotional agendas with a dashboard in place.
Providers will also be trained on how to use telemedicine and its associated software. A contingency plan is also in place to counter any presenting risks following the launch and operational discourse of telemedicine.
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