Sound Business Venture for Accarpio Transport - Essay Example

? Tye Accarpio Healthcare Marketing HSA3160 Introduction Creating a new business venture is a process which involves a lot of steps which need to be carefully taken into consideration. The success of the new business venture mainly depends on the quality of the business plan used by the entrepreneur. As such, this paper has been designed to evaluate the measures that can be taken in order to create a sound business venture for Accarpio Transport. Organizational Review and Executive Summary Mission The company’s mission is to provide the best quality experience possible in the transport sector. This mission is ideal since it seeks to consolidate the company’s commitment to provide quality transport services to different targeted customers in the healthcare sector. Vision To be the market leader in the transport sector where the company seeks to cater for the interests of different customers in need of healthcare related transport services. Brief description of your organization Accarpio Transport’s business model is based on the notion of establishing a company that will specifically offer transportation services for those in need. The company will target different categories of people in its operations as shown below. Transportation of those in wheelchairs, those who use walkers, and those who can walk. Priced reasonable so anyone that needs our services can have them. The strategy of offering reasonable prices is specifically designed to attract as many customers as possible since there are also other actors in this particular sector of business. This strategy will help the company to gain a competitive advantage in its operations which is the essence of any business venture (Strydom, 84). Brief historical review Accarpio Transport The business model of the company is unique in that it seeks to offer transportation services that are not provided by most ambulance companies. Most ambulance services are primarily concerned with offering services to patients who want to be taken to the hospital from their respective homes. Some of the service providers only provide transportation to doctors who have appointments. However, Accarpio Transport will provide transport to people who want to perform different errands such as going to the grocery stores or shopping malls, visiting friends or any other errands such as going to the park for refreshment. Current Marketing Situation Market overview The company intends to prioritize various trends that will give it a competitive advantage over other actors in the transport industry. For instance, the company seeks to offer consistent transport services to all clients. It intends to fulfill all their interests and needs so as to create loyalty among them. The company also seeks to harness the philosophy that no transportation job is too small in its operations since it is designed to cater for different types of customers. Market segmentation In theory, market segmentation is described as the process of dividing a heterogeneous market into smaller segments of people who have similar interests (Kotler, 87). In this particular case, geo-demographic segmentation will be used by the company. Geo-demographic segmentation is loosely defined as the process of identifying groups of people in a certain area who have similar demographic characteristics such as age, gender as well as lifestyle (Kotler,88). For instance, people living in the same geographical location may share similar interests such as the use of the same transport services as well as their interests towards different market offerings. In this case, Accarpio transport will target individuals interested in carrying out their personal errands such as visiting the hospitals. The company will also target patients intending to use transport to different places such as shops for their personal business. Target market The company will mainly target hospitals and it will offer transport to people visiting patients or carrying out any other business. The company will also offer transport services to healthcare staff such as nurses and doctors. The other targeted customers by the company include people who use assisted living facilities who cannot walk on their own. The company will also target nursing homes as well as adult day care facilities since there are people who may need transport to perform private businesses such as going to the shops. As noted above, the company will use the strategy of offering low prices that are affordable to many people so as to be in a position to satisfy their needs given that some of the targeted customers belong to the low income bracket. Primary and Secondary Markets The primary market for the company will be hospitals especially specialty hospitals which are comprised of people who have special needs since they cannot move on their own. The secondary markets will involve Assisted Living Facilities, Nursing Homes, and Adult Day Care Facilities. These centers are also comprised of people with special needs hence the company will try to customize its services so that they suit the needs of the targeted people. The company will offer assistance to people with special needs so that they can carry out their business with limited problems. Customers and Consumers The major customers are patients and other people with special needs who may be in need of transport to different places where they can get their medication. The major consumers are family members especially power of attorneys who may also be in need of visiting their relatives at different medical centers. Best Customers The company’s best customers are expected to be drawn from a pool of patients who do not have transportation. The company will provide transport to these people to go to medical centers of their choice. The company will also target people who require therapy as well as rehabilitation. These best customers have special needs hence the company will ensure that it has qualified employees who can attend to different needs of the customers. The company will also make sure that drivers are readily available and these have knowledge about the needs of the targeted customers. External Environment A PEST analysis is a very effective tool that is used to scan the business environment before establishing a business venture (Lancaster, 87). The company will take note of the following factors. Political factors- the company will be guided by the framework that marketing is relationship driven. This is determined by the political environment obtaining in the marketing environment. Economic factors- the aspect of pricing will shape the operations of the company. For instance, the company intends to offer reasonable prices to its customers so as to satisfy their needs. Social Factors- the targeted customers have various social needs hence the company intends to provide the best possible service so that customers can talk about our company. Technological Factors- new information and communication technology has revolutionized the communication landscape during the contemporary period. Therefore, it is our intention to have a website that can be used in carrying out business. An app for smart phones will also be used since this is a viable mobile communication strategy. Webcams in the vehicle that can also be used so that the family members can communicate with the crew members as well as their relatives on board. Product Review The company aims to offer customized services to the targeted customers so that it can be in a better position to attract many clients. These services are beneficial in that the customers with special needs can get the much needed assistance from the members of our staff who will be responsible for transporting them to different places. The strategy of offering customized services will attract many clients since they will be in a position to enjoy their errands with fewer difficulties. There are likely chances that the customers will use this service since it is designed to fulfill the needs and interests of many people who will use it. One good thing about this particular service is that it is customer oriented since it is designed to satisfy the needs of the targeted people. This strategy is likely to motivate the customers since they will be in a position to benefit from the services that are going to be offered by the company. Targeted Segmented Customer Need Corresponding Feature/Benefit Old person living in ALF Transportation Arriving to Appt. on time Rehab patient Transportation to therapy Patient has a way to get to Appt. Hospital patient Transportation to Dr. Appt. Arrival there and back to hospital. Financial Review There are various measures that are going to be implemented that are designed to ensure that the services offered by the company are affordable to different customers who belong to different income brackets. The company also seeks to operate viably through accepting insurances to cover the services it offer to different people. It is expected that the operation capital of $150 000 will be injected in this business venture and it will be used to procure special vehicles that can be used to transport people with different needs. The money will also be used as startup capital and it is anticipated that if proper measures are implemented, the organization will generate enough profits from its operations that can sustain it. Competitive Review The transport industry is characterized by competition since there are also other players in the industry. For instance, Century Ambulance is mostly an ambulance service and it offers some transport service to ordinary people. The main strength of this company is that it is large but one of the main weaknesses is that it offers specialized services to the customers. It mainly caters for patients intending to go to hospitals. The other competitor in this sector is Liberty Ambulance and it also performs more transport services than Century Ambulance. Against this background, Accarpio Transport seeks to differentiate its services so that they cover small groups of customers with special needs. ORGANIZATIONAL S. W. O. T. ANALYSIS Basically, SWOT analysis is a management tool that defines the relationship between the internal and external environmental factors that can affect an organisation in its operations (Robinson, 197). SWOT stands for strengths, weaknesses, opportunities and threats. The following is a SWOT analysis for Accarpio Transport. Strengths- the company will make sure that each driver will be CAN or PCT certified, along with CPR certification. This improves the competency of the drivers. Weaknesses- there is likely to be a learning curve since this will be a new company Opportunities- the sky is the limit since there are many opportunities in the transport sector. The company seeks to provide quality services to all customers and ultimately develop to become a bigger organization. Threats- the main threat that can be faced by the company is competition. However, the company will try to address this threat by keeping over head costs low so that customer costs can also be maintained at a lower level. ORGANIZATIONAL PERFORMANCE AND GOALS Marketing goals- The main goal is to become the leader in the ambulance transport segment in Jacksonville and FL market. This will be achieved through concerted efforts by the company to effectively market its products to different customers such that they can refer others to the services offered. Sales goals- The major aim is to increase revenue generated every month by the company through attracting as many customers as possible. This can be achieved through offering exceptional services to the customers so that they can also help to refer other customers who can significantly contribute to the success of the company. MARKETING MIX STRATEGIES Positioning- the company intends to position itself in a unique way given that it intends to provide a differentiated service from the other mainstream actors in this particular sector. The company will be readily available in all geographical areas where it will be operating in. the company will be positioned in such a way that it can derive value from its operations. Product- the company will use different types of vehicles that are large enough not only for one specific type of business but also for equipment and groceries. The company will also use special vehicles in carrying out its business. Price- Insurance companies accepted will be accepted and incentives for returning customers will be offered by the company. The pricing strategy that will be used by the company will be slight lower than other competitors in this sector. For instance, a fee of $2.50 per mile will be charged for all transport services. Promotion- the company will use incentives to attract customers and it will also promote some services on certain occasions so as to appeal to the interests of many people. Action Programs Various action programs will be carried out by the marketing team in the implementation of the marketing plan. These will also be aided by market research which will be carried by the marketing team. The action programs are illustrated in the timeline shown below. Marketing Action Items- Transportation for those in need. Time Line Action Item Marketing Activity- Brief Description Targeted Audience Key Messages Desired Outcome Jan 2012, June 2012, Dec 2012 Advertising Advertise on radio, Senior Guide, and internet. Anyone who has transportation needs. Affordable, friendly, and patient. To receive phone calls for people who need transportation. Feb 2012, July 2012, Nov 2012 Business to Business Visit a hospital, ALF, and Nursing home. Discharge planner, caseworkers, and doctors. Upon discharge I’m here to provide any patient transportations needs. Affordable, reliable, and always-on time. March 2012, May 2012, Oct 2012 Direct Marketing Call caseworkers, doctors offices, and Adult day cares Families who cannot provide transportation for there loved ones. Can transport those in wheel chairs, those who use walkers, canes, or that can even walk just fine. To receive several referral calls. April 2012, May 2012, June 2012 Networking Local healthcare events, hand out business cards. Those who are unawake upon discharge that there is transportation to and from appointments for example. Always there in a time of needs, can help from transport to Dr. Appointment, and to any type of errand. To have people think and become aware of options. Sept 2012, Oct 2012, Nov 2012 Community Outreach Go to three local Churches. Those who attend the church, whoever runs the church, and friends who are with those that, belong to the church. There is hope for those in need. Nothing is impossible. Arrangements can always be worked out. To create conversation amongst those at the church. As indicated in the table above, it can be seen that Accarpio Transport is geared towards fulfilling the needs of as many customers as possible. The major expected outcome is to generate revenue that can enable the company to sustain its operations in a profitable way while at the same time satisfying the needs of the targeted customers. Works cited Kotler, Philip. Kotler on Marketing: How to create, win and dominate Markets. London: Free Press,1999. Print. Lancaster, Reynolds. Introduction to Marketing: A step by step Guide to all the tools of Marketing. London: Kogan Page, 1999. Print. Robinson, Wilson. Strategic Management and Information Systems. 2nd Edition. London. Prentice Hall, 1997. Print. Strydom, Johana. Introduction to marketing.3rd Edition. CT: JUTA, 2004. Print. Read More