Potential Markets
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Choice of delivery products will depend in part on the choice of target market(s). The end users are individuals, both those leading healthy lifestyles and those with unhealthy habits. These end users will likely need third-party influence so we have a business plan with the estimated ROI for several key markets. Following is a brief summary the extensive market analysis we conducted along with a market validation study for a website and related products.
The Corporate Market is well established: 80% of companies over 50 employees have Wellness Promotion Programs with an ROI averaging 4:1, an impressive result. But this market is crowded and quite focused on reports tied to company costs. A possibly better strategy is to target those Health Promotion Companies supplying the corporate market to give them a competitive edge with our unique delivery system and our exclusive knowledge base. No one is doing video or comprehensive lifestyle education and certainly not edutainment.
Our analysis indicates that a strong initial market may be the equally large Health Care Professionals group, including HMO’s and other insurance companies. Our program would be a boon to physicians not trained in lifestyle counseling, who don’t have time anyway, and can’t get reimbursement.
Other markets and products such as DVDs, games, TV, kiosks would, require special analyses and funding. These include:
Schools are of course the preferred market—educate them while they’re young—but that will take special material targeted to different age groups as well as special funding.
There are a variety of government programs, both local and national, as well as a number of organizations devoted to specific diseases (cancer, heart, diabetes, etc.), but like schools, those would likely require special material targeted to different needs and groups. While the education-quality knowledge base can be built for only several million dollars, the prescription-quality knowledge base could become an NIH-sponsored product since the cost of that will be 100’s of millions and may even approach that of the Genome Project.
For a website product, a web subscriber channel is the most expensive for a new launch due to its business-to-consumer nature. And consumers are less likely to make this type of purchase decision without third-party influence, such as the above referenced corporate benefits programs or their health care provider.