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One of the key forces in this industry is threat to new entrants which is very weak.
This is because even though this industry requires a large amount of capital, however, it has
low retaliation from existing companies (Mirzayev, 2018). It is also difficult for new entrant
to achieve economies of scale and access suppliers as only few suppliers are available in this
industry. Hence, the bargaining power of suppliers is strong as only few numbers of suppliers
in health care industry (Jurevicius, 2013). The bargaining power of buyers is weak because
all the clinics and hospitals that performed phlebotomy need it (Recklies, 2015). The threat of
substitutes is very weak as the buyers can hardly find substitute products with reasonable
prices or better quality (Riley, 2017). Rivalry among existing competitors is medium because
even though there are only a few competitors in this industry, the exit barrier is high and the
industry growth is slow (MaRS, 2014).
Company Description
Phlebo-Pro™ is a new company that provide eyewear to see veins underneath skin for
medical usage. Phlebo-Pro™ helps phlebotomist to find vein accurately and easily, moreover
preventing patient’s painful blood taking experience. Phlebo-Pro™ is owned and operated by
Law Ke Wei, Ng Xin Yie, Minyi, Khow Yen Lin, Wong Ho Yarn and Amer F. A. Zaher.
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Phlebo-Pro’s™ mission is to provide the best in medical products and equipment to
the Health Care Industry. Phlebo-Pro™ is used during critical and intensive care, surgery,
post-operative care during recovery, emergency services, physicians’ offices, patient care and
many other medical environments. We want our customers to feel confident that Phlebo-
Pro™ will fulfil your needs, with an excellent product quality, product knowledge, and
affordable market price.
Minyi, Yen Lin, and Ho Yarn study Bachelor of Nutrition and Wellness in UCSI.
Amer, Ke Wei, and Xin Yie study Bachelor of Biotechnology in UCSI. One of the owner, Ho
Yarn’s previous employment was with Pathlab diagnosis lab acting as a phlebotomist. From
Ho Yarn’s experience in diagnosis lab, she noticed that new phlebotomist trainer hard to find
patient’s vein, and patient suffer from pain and nausea feeling while being poked on wrong
vein. Thus, Phlebo-Pro™ is created as a helpful instrument for medical staff.
Phlebo-Pro™ will target small to medium sized clinics, pharmacies, hospitals, and
government organizations within West coast of Malaysia. Phlebo-Pro™ will seek major
contracts with hospitals, diagnosis labs, and government organisations.
By year 3, Phlebo-Pro™ will expand to other markets such as East coast of Malaysia
and Singapore. Phlebo-Pro™ is new medical instrument that highly accepted as well as high
demand in these markets. From market research, Phlebo-Pro™ is the pioneer in introducing
this product in the market.
The primary objectives of Phlebo-Pro™ over the next year are to:
- Obtain commercial financing of RM60, 000 to cover start-up costs and initial operating
expenses;
- Generate one new client contract a month by networking with sales person, conducting
workshops, and joining government dealer agencies;
- Generate a net profit of RM35, 000 in the first year of operations by developing a strong
client base and keeping overhead costs to a minimum;
- Conduct 10 Phlebo-Pro™ workshops that shows the product function and benefit.
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Phlebo-Pro™ will be located at:
Become a creative pioneer in medical site by solving clients’ problem and providing quality
products with affordable market price.
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Appendix
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References
Jurevicius, O. (2013). The 5 Powerful Forces that Impact your Profit. [online] Strategic
Management Insight. Available at:
https://www.strategicmanagementinsight.com/tools/porters-five-forces.html [Accessed
12 Feb. 2018].
MaRS. (2014). Industry Rivalry & Competition | Porter’s Five Forces. [online] Available at:
https://www.marsdd.com/mars-library/industry-rivalry-and-competition-using-five-
forces/ [Accessed 12 Feb. 2018].
Riley, J. (2017). Porter's Model of Industry Rivalry (Five Forces) | tutor2u Business. [online]
tutor2u. Available at: https://www.tutor2u.net/business/reference/porters-model-of-
industry-rivalry-five-forces [Accessed 12 Feb. 2018].