Peer review

Luciana Derartinian

ENT-436

Professor Dover

07 March 2021

Draft Business Model Canvas

Introduction

The Covid-19 pandemic has caused detrimental damage to the United States in a variety of ways such as the economy, overall health, and education (Glionna, 2020). Now, people are left in a dilemma. Do they leave the house, go get tested and risk exposure to the virus? Or do they stay home and have a virtual or over-the-phone doctors’ appointment, which may not provide accurate results? With a small number of options, some are left confused. By sending medical kits to homes of the elderly, and allowing them to have virtual doctors’ visits, the number of elderly citizens who get the coronavirus will decrease by 10%.

Although kits are geared towards the elderly population, they will be made accessible to anyone who does not feel comfortable seeing their doctor in person (CDC, 2021). The kit is to include a stethoscope which can be connected to a smart device with the use of Bluetooth, an ear cleaner with a camera and a swab set to send into the labs.

All of this would not be possible without our key partners: EcoMarlt, Eko health, and Amazon Prime (for shipping). EcoMarlt is the number one rated wireless WiFi earwax extractor (2021). Eko health is the maker of the stethoscope which connects to audio and is Al-powered, combined with expertise, can catch potential life-threatening conditions earlier (2021). Amazon Prime is a membership to Amazon which will provide customers with fast, free shipping. With all of these sources combined, we hope to provide customers with a safe and accurate, at home doctor’s appointment (2021).

Key Activities

A spokesperson from each of the mentioned companies present at events surrounding the launch of the brand as well as prior launches or big announcements related to the company (Glionna, 2020).

Value Proposition

Our company helps the customers (especially those who are elderly) to have doctors’ appointments without having to leave their home, by providing them with the most important tools to have a successful virtual appointment (Mangematin, Ravarini, & Sharkey Scott, 2017).

Customer Relationships & Segments

As a company, we will build relationships with our customers by being hands on, and clear with the way we present our products. For example, we will make short and clear commercials for our products, so that our customers know exactly what they are purchasing, beforehand. Additionally, we will have a customer service representative to answer any phone calls a customer might have before, during or after purchasing their kit. We want customers to feel safe and seen, above all (Glionna, 2020).

Channels/Time & Expenses

Channels would be created by reaching customers through TV commercials, Facebook Ads, and Google Ads along with all other social media platforms. Once the customer is acquired, and they purchase a kit, they will be notified through email. Thereafter, promotional emails will be sent periodically to remain connected to customers. All of this takes time and will cost money, depending upon the customer acquisition cost, which is revealed after the company has made some sales (Glionna, 2020).

Cost structure

Kit #1: 1) Earwax Extractor, 2) Stethoscope, 3) Covid-19 swab test to be purchased, for customer to keep.

· Priced at: $300 including shipping & handling (cost posted is without insurance; some insurance carriers may be accepted).

Kit #2: 1) Earwax Extractor, 2) Stethoscope, to be returned, sanitized, and then sent to a new customer, & 3) Covid-19 swab-test.

· Priced at $50 including shipping & handling (cost posted is without insurance; some insurance carriers may be accepted).

Kits have pricing options so that all customers have an option, that best suits their budget (CDC, 2021).

Revenue Streams

Revenue does not happen overnight. In fact, it takes numerous outside resources, time and energy to run a company that has consistent sales and revenue. In the beginning, it is about raising money to start the business, which we would do by saving personal money and doing a family and friends round of raising funds. By having funds, the company can begin its venture in selling customers health kits, and make a profit down the line (Glionna, 2020).

References

Amazon Prime. (2021). Retrieved from https://www.amazon.com/s?k=amazon+prime+usa&adgrpid=1335907189699253&hvadid=83494270125084&hvbmt=bp&hvdev=c&hvlocphy=44162&hvnetw=o&hvqmt=p&hvtargid=kwd-83494535989028%3Aloc-190&hydadcr=1778_10568082&tag=mh0b-20&ref=pd_sl_6o7jnpx2h9_p

Center for Disease Control and Prevention. (2021). Older Adults. Retrieved from https://www.cdc.gov/coronavirus/2019-ncov/need-extra-precautions/older-adults.html

EcoMarlt. (2021). Wireless WiFi Earwax Extractor. Retrieved from https://ecomarlt.com/products/wireless-wifi-ear-cleaning-camera?msclkid=514b1b6cd74c1df1d7e07b2cf87b2a33

Eko. (2021). Retrieved from https://www.ekohealth.com/

Glionna, John. (2020). Health crisis looming inside a health crisis: People are avoiding going to the doctor. Retrieved from https://www.latimes.com/california/story/2020-07-29/coronavirus-people-avoid-visits-to-doctor

Mangematin, Vincent; Ravarini, Aurelio M; Sharkey Scott, Pamela. (2017). Practitioner insights in business models and future directions. Retrieved from https://search-proquest-com.lopes.idm.oclc.org/docview/1901642369?accountid=7374