LiquaLens Liquid Contacts
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Transcript of LiquaLens Liquid Contacts
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Transforming the way you see the world
Andrew Nguyen • Christopher Ploetz • Melissa Woolfrey
*LiquaLens
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*Mission Statement
LiquaLens provides a radical alternative to help the world see better by transforming liquid eye drops into prescription contact lenses. The innovation of LiquaLens offers a stress-free, cost-effective, and highly accessible solution for everyone.
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*Product Description
*Start each day with one drop that becomes a prescription contact lens.
*Experience the most breathable and moisturizing lens on the market for unrivaled all day comfort.
*Contact is naturally absorbed by the eye with a removal drop or after 48 hours.
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*Market Potential
Market PotentialUnited States 230 millionWorldwide 4.5 billion
Vision Correction Industry $20 billionBausch+Lomb $3 billion
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*Target Market
*Initial Target Market*Women ages 18-34*$55K+ annual household income
*Secondary Markets*Anyone needing vision correction
*Medical applications
*Cosmetic use
*Global market
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*Porters 5 Force Model
* Lasik surgery
*Glasses industry
*Contact lensesThreat of
Substitutes
SupplierPower
PotentialEntrants
BuyerPower
IndustryRivalry*Alcon
* Johnson & Johnson *Cooper Vision
* Supplier exclusivity
* Strong vendor relationships
*No switching costs
*Price sensitive
*High barriers to
entry
*Brand recognition
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*SWOT Analysis
Strengths
• Portable• Easy to Use• Cost-efficient• Comfortable
Weaknesses
• Product loyalty• Aversion to change
Opportunities
• Global Markets • Medical
Applications
Threats
• Competition• Technology (Google
Smart Lens)
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*Promotion:Creative Brief
*Product Concept: A liquid eye drop that transforms into a prescription contact lens.
*Objective: Create awareness of new product among 60% of primary target market within six months.
*Positioning: Product positioning focused on the added value LiquaLens provides.
*Target Audience:*Women 18-34
*Household income of $55K+
*Who need vision correction
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*Creative Brief:Media & Media Vehicles
*Sales Promotion*Optometrist offices
*Direct mail
*Referrals
*Online*Website
*Social media
*Online advertising
*Email marketing
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*Creative Brief:Message Guidelines
*Unique Selling Proposition: LiquaLens provides the most convenient and comfortable way to see the world with new clarity.
*Support for USP* All day comfort
* Convenience
*Other Verbal Guidelines* LiquaLens simplifies the daily routine
* Increases comfort level
*Non-Verbal Guidelines* Look comfortable
* Fresh faces
*Personality* Stress free
* On-the-go
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*Pricing Strategy
*Market penetration based pricing strategy*Make it accessible
*Threat of substitutes
*First-mover advantage
LiquaLens Daily Contact Lenses
Daily Toric Lenses
Biweekly Contact Lenses
$30 $30 $60 $20
Price Monthly Cost Comparison
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*Income Statement
Income Statement (In Millions)Gross Revenue $3,000.00 Cost of Goods Sold $690.00 Gross Profit $2,310.00 COGS Ratio 23%Gross Profit Ratio 77%
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*Break Even Analysis
Fixed Costs $1.7 billion
Contribution Margin 77%
Current Annual Sales $3 billion
Break Even Point (units) 1 36.4 million
Break Even Point (dollars) $2.2 billion
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*Distribution
*Optometrist offices
*Direct sales
*Online retailers
*Third party vision retailers
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*Questions?
Thank Youfrom the
LiquaLens TeamAndrew Nguyen
Christopher Ploetz
Melissa Woolfrey
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*References
* Hoover's Company Records - In-depth records. (2014). LexisNexis Academic. Web. Retrieved 20 December 2014.
* Hoover's Company Records - In-depth records. (2014). LexisNexis Academic. Web. Retrieved 20 December 2014.
* First contact. Professional Engineering [serial online]. March 22, 2000;13(6):8. Retrieved 20 December 2014 from Business Source Premier, Ipswich, MA.
* Kamp, J. (2007). Wall Street Journal Earnings Digest: Bausch & Lomb's earnings still reflect impact of recall. Retrieved 20 December 2014 from http://search.proquest.com/docview/399091934?accountid=14971.
* Pfizer Inc. (2014). PFE Annual Income Statement.
* Product Usage. Eyeglasses and Contact Lenses - US - September 2013. (2013). Retrieved 20 December 2014 from http://academic.mintel.com/display/677668/.