Dartmouth Secure Biometrics is a small start-up company about to launch its first product to the market. The company has developed a new, proprietary biometric technology that it plans to exploit for commercialization. The company has developed a product in the form of a bracelet that calculates a unique bio impedance signature. This signature can be used for personal identification. The company has completed all of its filings, applied for an application patent, completed systems testing on the bracelet and qualified a volume manufacturing facility. This marketing plan will detail how, when and where this company will not only launch this product but will also begin to generate revenue this fiscal year. The health care industry is one of the fastest growing market segments in the US. With projections that spending will increase to 30% of the Gross National Product, this is a huge market and the company is positioned well to exploit it over the next several years. This document presents a detailed marketing plan on how it will enter this market this fiscal year (FY2013 07/2013-06/2014), and how it will reach exponential growth within the next 3 years. The company is currently managed by a small management team which possesses the skills critical to achieving this plan. Armed with proprietary technology, in the form of a biometric bracelet for personal patient identification in a hospital environment, Dartmouth Secure Biometrics has identified a specific target market to sell into. The hospital emergency department and services have an increased need to accurately and efficiently identify the right patient through the entire system. The unique selling feature of this product is that it attaches to the patient and thus, provides a real-time wearable positive identification system that is currently not in place in hospital emergency department and services environment. Every minute counts for saving lives in an emergency setting. In order to make this commercialization venture a success the management team is asking for $250,000 from investors and board members. In return the company will commit to delivering 3 signed contracts and $600,000 in revenue by EOFY 2013 that yields profits of over $400,000.
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Gibson, Elizabeth; Castillejos, Ignacio; Lethlean, Joseph; Narvekar, Kruti; and Shah, Kshiti, "Dartmouth Secure Biometrics Marketing Plan for Biometric Bracelet" (2013). Engineering and Technology Management Student Projects. 425.
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