Medical Tourism business

I will set up a Medical Tourism business that helps U.S. citizens plan their trips to Costa Rica for Cosmetic Surgery and Cosmetic Dentistry. The aim of the business will be to expose US clients to world-class cosmetic care abroad at more affordable prices. Cosmetic dentists and surgeons in Costa Rica can charge less because their medicines are subsidies by the government. The doctors and dentists are well trained and internationally certified. The aim of the business is to expose US clients who are interested in cosmetic procedures to this care and to help them plan their medical trips, arrange flights to and from Costa Rica and book recovery accommodation for them.

Remember that we're using a common basic format for the Project assignments in all Modules, that is, the preparation of a plan for a real or hypothetical e-business that you're putting together.

Specifically, for the Session Long Project for this Module, you are to begin thinking of the business model for your e-business. Refer to the readings for the Case for this Module.

Below are examples of what we mean by an e-Business model. I've used phrases to illustrate the contrast, but you should set up your comparison in narrative form. Use business writing: short sentences, active voice, short paragraphs, sub-headings, easy to read.

Essentially you need to answer these questions. Use any format: essay, bullets, memo...whatever works.

(1) Who is your target market? How does your target market view you in relation to the competition and/or alternatives to solve a problem?

(2) What will you sell pr promote to them? IF you are offering information how will you earn revenue?

(3) Why do you think they will buy? Do you have evidence that they are genuinely interested in your product or service?

(4) A description of your target market and your competitive advantage.

(5) A statement of your business model: i.e., how will you deliver value and earn revenue with your business?

Example 1: Networking groups

Business Model #1: Women Entrepreneurs. Use website to reduce costs and increase efficiency of advertising and registration.

What it does: Members eligible to attend lunches and breakfast meetings twice a monh.

Members may send email messages to all members.

E-newsletter (e-zine) monthly - highlights one or two members and announces events.

Committee of officers organizes events.

What this business mode needs for economic success: Needs critical mass of members paying $150-200 a year plus sponsors who pay more and gain exposure from being announced as sponsors.

Target market: Independent business owners in any stage of business. Need not be computer savvy, Value ongoing associations and prefer to schedule events by planning in advance.

Business Model #2: Biznik: 100% virtual organization.

What it does: Members eligible to organize and attend events anywhere they join.

Members each get a page describing themselves and what they do.

Members can gain visibility by attending events and by posting to other members' sites. Members can also write articles to gain visibility.

Members can communicate directly with one another.

Members join free to attend events.

What this business needs: Many members! Members pay $10 for "active" membership or $25 for "gold" membership, each with a different level of privilege. Membership level designated by gold or silver starr, which can signal credibility.

Target market: Broad market of independent business owners in early to growth stages of business. Computer-savvy. Enjoy flexibility and one-of-a-kind meetings.

What these models have in common: Note that both models need a minimum number of members to be successful. If you have just 2 or 3 members, nobody benefits very much. Members want to join organizations that have big numbers. But the first model has some constraints as more members join, they need ore overhead expense for events: a luncheon for 100 vs a luncheon for 200.

Example 2: Information site

Model 1: Free information via articles and indexes of related links.

Earn revenue by subscribing to google adsense. Every time a visitor clicks on an ad, the site owner earns money.

Marketing challenge: Need large numbers of targeted traffic. Traffic must be targeted so adsense ads will be effective. Visitors must click on ads if the site makes money and they are more likely to click on ads related to their own interests.

Model 2: Membership site: Earn revenue by memberships.

Marketing challenge: Create unique information that will not be available elsewhere and/or organize information so visitors will recognize they save time.

Promote memberships rather than numbers of unique visitors.