One session is expected to cost approximately $400 per treatment session, with typical patient needing four to six treatments (Neuronetics, Inc., 2008). Compared to ongoing medicine and therapy sessions, this is a quite cost effective alternative. This will be another key selling point for the device. However, it is expected that clinicians will see the potential to increase their clientele as a more important factor than the initial costs of the device.
The NeuroStar TMS is already in use in a few treatment centers around the country (Neuronetics, Inc., 2008). This provides credibility that others find the device to be beneficial. Testimonials from doctors and patients would be another supportive element to add to the marketing campaign. However, this element is not expected to hold as much weight as clinical evidence and research findings.
Primary Markets
Primary markets for the device will include individual clinical practices and groups that treat major depression in their clients. The most lucrative of these will be those that have large populations of clients that are already on antidepressant medicine. These clinicians have the greatest likelihood of obtaining clients that are treatment resistant. Another important type of practice will be those that specialize in the treatment of major depression as their primary focus. Private practices will consist of the bulk of primary market targets.
Secondary Markets
Several secondary markets exist that may yield results. In addition to clinical practitioners, general hospitals may also prove to be a worthy target. They may be a particularly lucrative source in rural areas. Many times in rural areas, people are accustomed to going to a local hospital to receive treatments that they cannot get in their physician's office. Purchasing decisions in small practices will depend on the costs of the device compared to the potential client base that they feel they can generate from it. In some cases, it may be more cost effective for centrally located hospitals to have the machine available. The device could draw clients from many different practices in the area, thus sustaining itself from a larger geographic area. Larger mental health facilities are likely to take this approach as well.
Another potential secondary market is Universities and Colleges that offer degrees in clinical psychology. These institutions may be interested in having a NeuroStar TMS onsite for teaching purposes. This could also be a potential source for the conduct of other research studies that could help to promote the units. These secondary markets have the potential to play a key role in the ability to expand usage and awareness of the product.
Marketing Methods
The key marketing techniques will be those that build exposure within the primary target market. Trade shows, conventions, and meeting of Professional Clinical Societies will play a key role in the marketing plan. Exposure at these events will help to establish credibility. This will be a cost effective marketing tool because these events are often well-attended by the primary target market, as well as some members of secondary...
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