Term Paper

Proposed new service model:

The new propositional service model is the IoT healthcare system for the elderly. The IoT system is designed to take vitals from elderly patients, and give the doctors a clear idea of the statistical health range of the elderly patients. Wearable biosensors, smart watch monitoring, as well as the recent implementation of virtual wards is the best way to treat the elderly (Pinto, 2017)

Value to key marketing targets

The value to the elderly is immense from a health perspective. As elderly people are in a very fragile state, emergencies can occur at any time, but with the IoT systems, the elderly themselves, as well as doctors can keep an eye on their patients as well, to avoid any unfavorable circumstances.

Benefits of new proposal

The detection of any underlying diseases or problems are detected because of the IoT system. The spiking of heartrate, detection of any rising cholesterol levels, or anything remotely related to endangering symptoms are detectable, and traceable when these systems take all the vitals from the body with the help of the various devices (CAN Malarvizhi, 2021).

Positioning of the existing service

The new service takes the amalgamation of the various implementation of IoT devices to get the most out of the detection of various symptoms of diseases. The service that the hospital will provide for their elderly will be the state of the art, and quite easy to implement.

Different take on the service

The service is mostly found within big cities, and hence the implementation of such technology in such a small town is what sets it apart from the competitors.

Competitive Analysis

Competitive service and

The implementation of IoT service is what differentiates it from the rest of the hospitals in the area. Regular check ups on the patients monitor remotely can help book appointments, and it is possible because of the small population of the surrounding areas.

Points of differentiation

The service is differentiated, as instead of booking an appointment when something happens, doctors will regularly check their patients health status to prevent any kind of misfortune from happening unto their elderly patients.

Value to customers

The value to the customers is that they are being regulated on their health. The customers are enjoying constant vigilance from their doctors because of the help of implementation of IoT devices.

Customer profile

The service is designed for elderly customers. The demographic of the area consist of many elderly people because of the small town status of the location. The customers are ranged from 50 to 70 range. The elderly community is susceptible to heart attacks, high cholesterol, and many more life threatening medical situations.

Price Strategy

The pricing of the service will depend on what the customers want. When dealing with biosensors, the price of the sensors, will be equal to a few hundred dollars, depending on the amount of biosensors while the cost of monitoring will be 50$ per month. The smart watch monitoring will be 50$ per month as well.

Marketing approach

The marketing strategy of the hospital will be through word of mouth, as well as banners, and posters all around the town. One banner will be enough to supplement the marketing for the hospital.

Opportunities and threats to the organization

The opportunities are quite great in IoT, as this is a relatively new field. Costs of healthcare can be cut by 25%, and many unforeseen circumstances can also be avoided (Bresnick, 2015).

References Bresnick, J. (2015, 9 22). healthitanalytics. Retrieved from https://healthitanalytics.com/news/can-the-healthcare-internet-of-things-cut-costs-by-25-percent CAN Malarvizhi, S. M. (2021). Evaluating The Use Of Iot For Healthcare Providers In Treating Elderly NCD Patients In Malaysia. Journal of Molecular & Clinical Medicine, 4364-4373. Pinto, e. (2017). We-care: An IoT-based health care system for elderly people. IEEE International Conference on Industrial Technology, 1378-1383.