Opportunities
Pediatric patients with chronic illnesses are subjected to multiple medications.
At such a young age, these children may have difficulty adhering to all of them. Adolescents can be involved in various activities in addition to school. Taking the correct amount of medications at the right times may not be in their top priorities of the day, so pill boxes that are appealing to children’s eyes and interactive can get them to adhere to their drugs. Increasing adherence may have a greater effect on health than improvements in specific medical therapy. Adhering to medication is complex and involves not only the patient but the physician as well.3 Physicians can contribute to non-adherence by prescribing complex drug regimens, failing to explain the benefits and adverse effects of medication, and not considering the financial burden placed on the patients. In our healthcare system, clinicians see a large volume of patients, so each patient may not get sufficient time with their doctor to assess and understand their medication-taking behaviors.4 The topic of adhering to medication usually does not take place, but it could make a difference. These boxes can be perfect for children to keep at the school nurse’s office in the beginning of the school year or for them to keep with them when they’re away like at summer camp. This will allow the children to gain responsibility and be able to independently take their medications.
Threats
There are multiple pill boxes on the market made by numerous brands so getting consumers convinced that these pill boxes are the best suitable for children can be an obstacle. There are also many different forms of pillboxes like manual and electronic boxes. We plan on making our product modern and easy to use so it will be preferred over the other
products.
Market Plan
Product
Our product is a customized pillbox organizer for children. Each patient will be able to design one side of their own pillbox. Patients will be able to choose from a variety of T.V. stars and characters, art designs or bitmojis to customize their pillbox organizer. The pillbox will contain four compartments for each day. Compartments will be labeled for each day of the week and will contain pictures to depict morning, noon, evening and bedtime. The goal of the product is to help young patients stay adherent to their medication schedule. Each compartment has a safety lock feature that can be controlled by an adult through a smart device or be managed by a programmed schedule from a smart device. The correct compartment will light up and unlock to dispense the correct pills.
Price
The pillbox organizer is $79; data usage may apply.
Place
Our product will be displayed in retail and hospital pharmacies and pediatric offices. A website has already been created containing the product, along with all the details and information. A display board with flyers that contain the product details and available designs will be posted in all locations. It is recommended that the pharmacy register and the doctor office front desk place the display. Each pillbox will be shipped and delivered next day mail within the United States when ordered online. Each location will have a limited number of the product.
Promotion
We will promote our product by displaying a display board and flyer with the product detail at all locations. To promote the product with pharmacies and doctor offices, free training and luncheons will be provided. Patients who have agreed to receive information will be sent information by email. All available designs will be pictured on the board, flyer and website. A YouTube clip will also be available online showing the pillbox features and a How-To get started demonstration.
People
Complimentary training will be provided for pharmacy technicians, doctor offices, and pharmacists to help encourage promotion of the product. Customers will also be able to chat live via the website by a trained consultant.
Packaging
Each product will be bubble wrapped and boxed. A detailed How-To manual and getting started DVD will also be provided and translated in four languages. A complimentary traveling case will be provided with each customized pillbox organizer.
Process
Upon purchasing the pillbox organizer, each customer will have a brief consultation with a trained staff member. Each customer will be encouraged to utilize the online tutorials as well. All online orders will be packaged and shipped using next day deliver within the United States.
Facility and equipment
This product will be sold at pharmacies and doctor’s offices in its simplest form (no customization). Customers have the ability to customize the product, therefore, they will be encouraged to go to our website to do so. Pharmacists, pharmacy technicians, doctors, nurses, and additional faculty will be involved in promoting and educating customers about this valuable product, therefore we hope to properly train them. Once this product reaches projected popularity, we hope to expand to local retail stores. See Appendix A for a list of equipment needed.
Management and organization
Parents, pharmacists, and doctors will report to our training/consulting staff via our website online with periodic updates on improved medication adherence and other valuable information. As inventors of this product, we will guide a team of software analysts to perfect these pillboxes to ensure they are suitable and beneficial to our audience. The training/consulting team made up of 16 members will be responsible for all operational tasks that are presented. Two team members will be at one site at a time. Sites that have partnered up with us will let us know of the demand at the specific location so we can meet their needs.
Our staffing plan would be considered very carefully. Our staff would need to have a background in business and match our passion for the business. We will need staff to be involved in the manufacturing process of the products. We would also need staff with experience in advertising and would be able to sell our product in a visually appealing way. We would need members with experience in accounting to handle our finances and ensure that our money is going out strategically in a way to provide benefit to our company. We will also need a pharmaceutical representative to vouch for the product so our product can achieve credibility. Overall, our staff must be passionate and have the experience and knowledge to take our business to next levels.
For the business to even be a business we need to produce a product, which contains high quality, durable material. Our goal for the manufacturing process is producing a product with the lowest possible cost and the highest possible value. With a quality product as our foundation, our business will have longevity and the brand will be known and preferred. Next, advertising the product is essential to get the product to be known by the product. It should be advertised in retail and hospital pharmacies and pediatrician offices. Healthcare providers must be aware of our product and approve of it because their recommendations will make a difference in our sales. Consistently improving our product and plan will make our product the preferred choice for our intended audience.