Economeds: A feasibility study on establishing a pharmacy in Marcos Highway, Barangay 10, District 1, Zone 2, Zaragoza Street, Tondo, Manila

EXECUTIVE SUMMARY: EconoMeds is an independent retail pharmacy located in Marcos Highway, Zaragoza Street, Tondo, Manila. It provides a wide range of affordable ways to take care of your health by using generic medicines, such as pain killers and allergy medicines. Using shampoos, moisturizers, and toothpaste and other personal care items keeps you clean and enhances esteem. Food and household items are examples of basic necessities that help people live and be healthy generally. The primary objective of EconoMeds is to provide these medical products for its customers at the most competitive pricing available. Any consumer in need of a prescription, over-the-counter medication, or other products can visit EconoMeds all in one place. Prescription drugs must be available to the public at reasonable costs. Bearing this objective, EconoMeds aim to target a certain market segment, which focuses on customers who cover the cost of their medication of their own. They should receive the same treatment as those who can afford full-price prescription drugs and healthcare because they are sick and impoverished. To better serve its local residents, EconoMeds will also be available online, in addition to the customers or walk-ins of the startup physical store in the area. EconoMeds will operate from one store that will serve both the online customers and those who visit in person. Furthermore, all of the goods and services offered by large retail chains will be offered by EconoMeds, but at a lower cost and in a more accessible setting. The entire company believes that EconoMeds will provide quality medication at an affordable price and quality service consistently through the company’s hard work, professionalism and dedication. The whole team would stay driven to seek new ways to innovate in the rapidly growing pharmaceutical industry in the Philippines. Our success will come from meticulously preserving operational efficiencies and having competent and amiable staff members which will encourage repeat business inn addition to our competitive pricing. The proponents can only assume that EconoMeds will further appeal to customers sense of value and convenience as prescription drug prices continue to soar. Overall, EconoMeds is empowered to offer best prices for the local resident’s prescription for this will be the firm’s key in order to exceed customer expectations, attain financial and growth success. EconoMeds will not only stay company-oriented but rather, it would also seek to offer goods and services that will male a positive impact to the whole society.

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