VCW 4 WhyMob: Medical Market Expansion
Identifying the most promising international market for WhyMob's transplantation solution.
Which new medical market to enter with WhyMob technology?
This project focuses on identifying a new medical market for WhyMob's transplantation solution, utilizing the Value Creation Wheel (VCW) framework.
Overview:
WhyMob, an IT solutions company specializing in healthcare, aimed to expand internationally. The team used the VCW framework to identify the most promising market for their transplantation solution, a system and app designed to manage organ donation and transplant activity.
Application and Process:
The process began with an initial phase, where the team used early filters to select the transplantation solution from WhyMob's portfolio. The core challenge was defined: identifying which international market cares about the solution abroad. The team then generated ideas (potential target markets) and filters through interviews, market analysis, and group exercises. The POCR method was used to refine these filters. Through the Value Generation Funnel (VGF), the team narrowed down potential markets to Ireland and identified Organ Donation Transplant Ireland as the most promising target. A concept for the Irish Transplant Registry was developed, and a 3M analysis was conducted to outline the business model.
Key Takeaways:
Market Selection: Ireland was identified as the most promising market based on factors such as existing healthcare infrastructure, economic power, transplant activity, health expenditure, and technology readiness.
Target Identification: Organ Donation Transplant Ireland was identified as the most relevant target within the Irish market.
Concept Development: The Irish Transplant Registry, an advanced database for organ donation and transplant activity, was proposed as the solution for the Irish market.
3M Analysis: A 3M analysis (Man, Money, Minutes) was conducted to outline the business model, including pre-sale and post-sale costs, revenue projections, and timeline estimations.
VCW Integration: The VCW team recommended that WhyMob integrate the VCW framework into their innovation process for future success.
Conclusion:
The VCW framework effectively guided WhyMob in identifying a new medical market for their transplantation solution. The proposed concept and business model align with the needs of the Irish market and demonstrate the methodology's effectiveness in supporting strategic decision-making for international expansion.