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PetMed

PetMed. Veterinary prevention and diagnostics system for vets and pet owners. The problems For the owners Pet owners has uncertain information about how to treat their loving friend (feeding, exercising, etc.) For the vets

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PetMed

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  1. PetMed Veterinary prevention and diagnostics system for vets and pet owners

  2. The problems For the owners • Pet owners has uncertain information about how to treat their loving friend (feeding, exercising, etc.) For the vets • Thick textbooks, dictionaries – hard to seek, lots of unsettled information • When urgent reaction is needed there is no time for research • Diagnosis quality is uncertain – treatment could fail • Decision is hard on what to examine

  3. The solution PetMed – the ultimate prevention and diagnosis helper system Application modules for: • prevention, PV (Phase I) • emergency and toxicology, QR (Phase II) • diagnostics, DA (Phase III) Possible users: • vets • pet owners

  4. For vets (1/3) • Helps prevention • Asks for pet’s breed, age, gender, circumstances, etc. • Asks for breed specific typical illnesses symptoms • Specialized in dermatology, epilepsy, gastrointestinal problems • Result: a leaflet printed for the pet owner which gives recommendation for feeding, treating, supplements • Makes higher income for the vet by offering complex service (veterinary service and vet product sales)

  5. For vets (2/3) • Helps diagnosis • Based on initial symptoms • Recommends examinations and asks questions on other possible symptoms • Reminds to possible illnesses • Shows other vets’ recorded experiences – if possible • Searches inside its knowledge base and decision matrix • Result: a list of possible illnesses - weighted • Source is audited, lectured, trustable and always up-to-date • Diagnosis quality is constantly high – makes better treatment, healthier pets, happier owners

  6. For vets (3/3) • Possible users: • Vet franchise networks – every network can have its own and different knowledge base • Inexperienced vets – not enough practice, PetMed helps to improve diagnosis quality • Advantages: • Easy update – new, refreshed information is instantly accessible • Quick, effective decision – systems recommends questions and examinations to achieve the fastest / most effective diagnosis • Maximal efficiency due to integration of prevention and treatment

  7. For pet owners • Helps prevention • Result: offering veterinary foods, supplementary products • Helps diagnosis, gives recommendation • Result: possible illness - offering veterinary foods, supplementary products – if applicable • Important – we do not offer treatment protocol to owners! • Targeted advertisement and sales to pet owners

  8. Core: flexible, searchable diagnostics database with decision support Extensions: Species own knowledge base, special cases Interface for search engines Professional information exchange forum The technology: multi-dimensional search-engine and artificial intelligence Product portfolio and services

  9. Number of vets Primary market: veterinary praxis: pets and horse Secondary markets: pet owners, universities, research centers, Market size (US, 2004): vet care: 8.3 billion USD Average visit cost (US, 2006): cat 172 USD, dog 219 USD Veterinary practice software (that is only for registration not for diagnostics!) pricing (US, 2010): 70..200 USD/month Market and potential

  10. Incomes Prevention module (Phase I) Pet food and vet medicine manufacturers pay for participation, product representation. Targeted price 199 USD/year/vet Prevention module is free for vets! Quick-response modules (Phase II) Targeted price: 199 USD/year/vet Diagnostic module (Phase III) Targeted price: 999 USD/year/vet

  11. Younger vets, students Social and university networking Online advertising, resources Senior vets Conferences Printed and online advertising, resources Sales, marketing (1/2) Sales • Medical sales rep • Vet franchises • Veterinary chambers Marketing • Recommended by experts • Accredited as methodology • Trial version • Dedicated PR

  12. Sales, marketing (2/2) Pet owners Usage of the pet- owner module is completely free Targeted sales and advertisements Partners for the prevention module Pet supply sellers Pet food manufacturers Vet medicine manufacturers

  13. Timeline, numbers (1/4) Phase I (year 1): introducing the Prevention (PV) module Expenses • Development: PV-100.000 USD • Initial knowledge base build up: PV-100.000 USD • Lecturing, fine tune: PV-70.000 USD • Sales, marketing (US, EU): PV-250.000 USD • Office & company: 110.000 USD • Product operation and support: 50.000 USD • Incomes • US sales (PV penetration 2%) 230.000 USD • EU sales (PV penetration 3%) 300.000 USD

  14. Timeline, numbers (2/4) Phase II (year 2): introducing the Quick Response (QR) module, getting more users for the Prevention (PV) module Expenses • Development: QR-200.000, PV-50.000 USD • Initial knowledge base build up: QR-100.000 USD • Knowledge base actualization: PV-50.000 USD • Lecturing, fine tune: QR-80.000 USD • Sales, marketing: QR-300.000 USD, PV-150.000 USD • Office & company: 170.000 USD • Product operation and support: 250.000 USD Incomes • US sales (penetration: PV 7%, QR 3%) 1.200.000 USD • EU sales (penetration: PV 9%, QR 4%) 1.300.000 USD

  15. Timeline, numbers (3/4) Phase III (year 3): introducing the Diagnostic (DA) module, getting more users for the Quick response (QR) and Prevention (PV) modules Expenses • Development: DA-650.000 USD, QR-90.000, PV-50.000 USD • Initial knowledge base build up: DA-300.000 USD • Knowledge base actualization: QR-60.000 USD, PV-50.000 USD • Lecturing, fine tune: DA-150.000 USD • Sales, marketing: DA-550.000 USD, QR-300.000 USD, PV-150.000 USD • Office & company: 400.000 USD • Product operation and support: 420.000 USD Incomes • US sales (penetration: PV 15%, QR 12%, DA 3%) 5.000.000 USD • EU sales (penetration: PV 15%, QR 12%, DA 3%) 4.200.000 USD

  16. Timeline, numbers (4/4) Year 4: Operating the PetMed solution Expenses • Development: DA-250.000 USD, QR-90.000, PV-50.000 USD • Initial knowledge base build up: • Knowledge base actualization: DA-200.000 USD, QR-60.000 USD, PV-50.000 USD • Lecturing, fine tune: • Sales, marketing: DA-750.000 USD, QR-400.000 USD, PV-200.000 USD • Office & company: 600.000 USD • Product operation and support: 600.000 USD Incomes • US sales (penetration: PV 20%, QR 15%, DA 12%) 11.350.000 USD • EU sales (penetration: PV 20%, QR 15%, DA 10%) 8.500.000 USD

  17. Incomes - expenses Conclusion: ROI is less then 2 years

  18. Why to invest? • Gradual market introduction • Easy selling points • Methodology is from real life • No direct competitor • The vet science is global, English is the main language • US market can be effectively penetrated through franchise networks • No special skills or training before usage • Huge advantage for users

  19. The team Project owner: FSCI Kft. Virág Sárközi, István Zsenák Veterinary partners: FeliCaVet Kft. Antal Seregi DVM, Péter Egerszegi DVM Endrődi utcai rendelő, Veszprém Gábor Kocsis DVM

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