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Transcript of Healthcare Marketing
Bausch & Lomb will be number one in the eyes of the world Our Mission Statement
As a global eye care company, we will help consumers see, look and feel better through innovative technology and design. Our operating principles: The consumer drives the business. New products are our life. Cost is bad, investment is good. Plan carefully, execute swiftly. There is always a better way. Focus on what's important. Leverage, leverage, leverage. We cannot succeed without each other. Products include:
lens care solution
prescription ophthalmic drugs
makes equipment for cataract, refractive (LASIK laser vision correction), and other ophthalmic surgeries
great variety of the product mix
Issues We Face Fear of Becoming Outdated
There is room for innovation in the eye care industry
We need to stay ahead of competitors with new and ground-breaking ideas/products S W O T TRENGTHS operate in over 100 countries
Unites States’ leading ophthalmic goods firm
Produces the best-selling line of sunglasses in the world (Ray-Ban)
patents for many different eye care products
lead the industry in customer satisfaction
cash on hand for business opportunities
co market products with pfizer to greatly increase the level of support for these important medications EAKNESSES lack of thearputic diversification
strong brand equity can be a double-edged sword PPORTUNITIES Buyout - new product in industry
merge with leading retailers
large market and still growing HREATS other contact lens companies
new eye care products
pricy costs for name brand quality Proposed Solution Buyout
we aquire the fledgeling company creating the eye drops
increase our market share in the eyecare industry
B&L would be able to sell more than the other company itself due to brand recognition alone.
We can better position the drops for consumers
Insurance companies may be more likely to cover the eye drops if they were owned by B&L Execution To execute the buyout...
purchase all of the other company's stock to own rights to the company and product
the eye drops are on the cusp of FDA approval, but not yet. Stocks will be relatively cheap
With the amount of available cash, an aquistion should not be difficult
promote the product with various forms of advertisements
Team with eye doctors and offer free trials and recommendations
continue to promote our other products
heavily associate this fascinating new product with the brand, Bausch and Lomb
provide online rebates for promotional purposes
Guerilla Marketing Tactics
creates a unique way for people to think about the brand
cover sewer caps with a giant contact lens
make garbage can covers look like eyes
turn bus headlights into contact lenses.
Summary a buyout is our best solution
our brand reaches a greater audience
any customers we lose to the eye drops will still remain our customers
we become associated with innovation
if executed immediately, we will save costs
a new eye drop has been created to improve vision
it is more convenient than using contact lenses
this product can cause great damage to our company Analysis Samantha Clader Elizabeth Prias Domenick Calise Matthew Coppolino Aneesh Cheruthottil For Eyedrops
visit optometry conferences and provide demonstrations
positioning- eye drops should be a medium option for people afraid of lasik surgery and uncomfortable with glasses
positive alternative to contacts Marketing Goals
do not abandon our other products throughout the course of the buyout
increase senior citizen interest in B & L products by 15% within a year from the buyout