Liquidus’ Go to Market Strategy
Regulatory Strategy
To avoid having to seek FDA approval, Liquidus Diagnostics has labeled the HYDROMO as a “no-risk general health and wellness” product. The purpose of the HYDROMO is to encourage general health; it specifically encourages users to maintain a hydrated body. By avoiding the reference of any specific disease, Liquidus Diagnostics can sell the HYDROMO without the need for FDA approval.
Initial Target Markets
In the beginning stages of our marketing plan the product HYDROMO, considering it can only be placed inside of urinal, the current market is constricted to just the male population. To further specify it will be highly advertised to gyms. This includes college athletic departments, professional athletic realms, recreational gyms, military training camp bases, and even high school gyms. Military camps, athletic competitions, and coaches/athletic directors will also be of major value to marketing our product as well. For example, one sport in particular where hydration is of high importance is wrestling. This is because wrestlers are often trying to lose bodyweight in order to be placed in a lower weight class for competitions, which causes wrestlers to follow strict dieting techniques that require a lower water intake. Often times before competitions the athletes must pass a type of hydration test before participating in the competition. The verification testing for such competitions are just another application for our product, HYRDROMO. The idea behind such a specific target market is to allow users to become more familiar with this new addition to their urinals.
Further Market Plans
Once there is an established user base there will then be more of an emphasis on using our products as a retro-fit for toilets in the user’s homes. Along with the expansion of our product to the typical home toilets, the product design will also be further innovated to broaden the scope of the device from solely males to include both females and males within one device. Our company will then begin to reach out to doctors offices, clinics, and other medical departments as a way to incorporate our products and designs with the typical urine tests that they ask of their patients.
Partnerships
To aid in expanding our product lines we will be partnered with insurance companies. This is due to the fact that our product could be potentially saving insurance companies money due to earlier diagnostics of patients. Our company will also be partnered with drug stores such as CVS Pharmacy, Target, Wal-Mart, and Walgreens. Using these channels our products are made more available to the public.
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