What Is Your Value Proposition? In this week's Tio video, Austin talks about his belief in his product as a new type of savory snack meal that could appeal to busy Americans. Here he is discussing his value proposition for the customer segment he serves.  Read the definitions below for Market (Customer) Segments and Value Proposition, and think about how they apply to your new idea:   MARKET (CUSTOMER) SEGMENTS: Defines the different groups of people or organizations an enterprise aims to reach and serve. VALUE PROPOSITION: Describes the bundle of products and services that create value for a specific Customer Segment.  Then, for your initial post, answer the questions below: For whom are you creating value? Who are your most important customers and where is the customer experiencing the product or service (in person, online)  What value do you deliver to the customer? Which customer needs are you satisfying? Which one of your customer’s problems are you helping to solve? Post your initial response by Wednesday, midnight of your time zone, and reply to at least 2 of your classmates' initial posts by Sunday, midnight of your time zone.​ 1st person to respond to JWI 575 Week 3 What is Your Value Proposition? Targeted Customers The process of clinical trials is a significant part of the overall investment necessary to develop a medical device (or drug) (FDA, 2014).  In other words, the act of performing clinical trials does not directly regenerate revenue nor profit as it is a procedural task within a medical device development program.  However, the idea I propose will tackle (i.e., will offer an innovative solution) the high rate of nonadherence or noncompliance within the clinical trial participants (Alsumidaie, 2017).  Also, it will provide a method to monitor compliance for patients undergoing a prescribed therapy treatment.  In particular, the product/service will focus on the "pulsed electromagnetic field" (Hetch, 2020) (PEMF) therapies, which is one of the main markets my company serves. This product/service solution will target two main customer categories: PEMF Clinical Trial Leaders and Researchers (internal or external customer) :  This customer is responsible for obtaining inputs and insights from internal and external partners and clients to design, coordinate, and execute clinical trials that can deliver the expected/needed evidence to support the commercialization of a new medical device or drug (Genentech, 2021).  The clinical trial leaders and researchers manage a substantial workload under tremendous pressure and urgency (Genentech, 2021).  The proposed solution will reduce the clinical trial coordination and supervision time, reduce the overall cost, and elevate the data quality and outcomes resulting from the study. Clinicians (external customer) : Modern PEMF medical devices are used by the patient at home (i.e., the patient can self-administer the therapy without a technologist or caregiver).  The ".

1. What Is Your Value Proposition?
In this week's Tio video, Austin talks about his belief in his
product as a new type of savory snack meal that could appeal to
busy Americans. Here he is discussing his value proposition for
the customer segment he serves.
Read the definitions below for Market (Customer) Segments and
Value Proposition, and think about how they apply to your new
idea:
MARKET (CUSTOMER) SEGMENTS: Defines the different
groups of people or organizations an enterprise aims to reach
and serve.
VALUE PROPOSITION: Describes the bundle of products and
services that create value for a specific Customer Segment.
Then, for your initial post, answer the questions below:
For whom are you creating value?
Who are your most important customers and where is the
customer experiencing the product or service (in person,
online)
What value do you deliver to the customer? Which customer
needs are you satisfying?
Which one of your customer’s problems are you helping to
solve?

2. Post your initial response by Wednesday, midnight of your time
zone, and reply to at least 2 of your classmates' initial posts by
Sunday, midnight of your time zone.
1st person to respond to
JWI 575 Week 3
What is Your Value Proposition?
Targeted Customers
The process of clinical trials is a significant part of the overall
investment necessary to develop a medical device (or drug)
(FDA, 2014). In other words, the act of performing clinical
trials does not directly regenerate revenue nor profit as it is a
procedural task within a medical device development program.
However, the idea I propose will tackle (i.e., will offer an
innovative solution) the high rate of nonadherence or
noncompliance within the clinical trial participants
(Alsumidaie, 2017). Also, it will provide a method to monitor
compliance for patients undergoing a prescribed therapy
treatment. In particular, the product/service will focus on the
"pulsed electromagnetic field" (Hetch, 2020) (PEMF) therapies,
which is one of the main markets my company serves.
This product/service solution will target two main customer
categories:
PEMF Clinical Trial Leaders and Researchers (internal or
external customer)
: This customer is responsible for obtaining inputs and insights

3. from internal and external partners and clients to design,
coordinate, and execute clinical trials that can deliver
the expected/needed evidence to support the commercialization
of a new medical device or drug (Genentech, 2021). The
clinical trial leaders and researchers manage a
substantial workload under tremendous pressure and urgency
(Genentech, 2021). The proposed solution will reduce the
clinical trial coordination and supervision time, reduce the
overall cost, and elevate the data quality and outcomes resulting
from the study.
Clinicians (external customer)
: Modern PEMF medical devices are used by the patient at home
(i.e., the patient can self-administer the therapy without a
technologist or caregiver). The "clinician" (CMS, 2019) (i.e.,
a healthcare professional qualified to practice medicine) that
partake in the PEMF therapy process is interested in the
progress, well-being, and outcomes of the patients undergoing a
PEMF therapy because typically they are managing
chronic pain. The proposed product offering will enhance how
the clinician assesses, monitors, and recommends changes to the
patients under their PEMF therapy care. Also, it will facilitate
and support an additional revenue stream to the clinician
through the medical "reimbursement" (Validic, 2021) process.
Value Creation
The proposed product/service will create value to the identified
customer categories through the following elements:
Process Optimization
: Typically, the success of a clinical trial within the PEMF
market depends on the participant's report and the data

4. collection managed by the clinical trial leader. The
product/service idea will reduce these dependencies and elevate
the reliability of the data acquisition process. The expectation
is that this process optimization will create value through
simplification, productivity (i.e., reduce the labor content and
the required human resources), and reduction of the overall
clinical trial execution cost.
Enabling Patient Remote Monitoring
: The proposed product/service has two components: (1) the
acquisition hardware (i.e., the device that will acquire the
PEMF therapy delivery information directly on the patient non-
invasively); and (2) the "software-as-a-service" (Grant, 2021)
(Saas) piece (i.e., the service that will work in conjunction with
the acquisition hardware). These two parts will enable the
clinician to monitor the patients remotely and generate an
additional revenue stream. The Centers for Medicare and
Medicaid Services (CMS) have formulated
reimbursement codifications for a multitude of
healthcare procedures and services (including for patient remote
monitoring) (Validic, 2021). These codes are called current
procedural terminology (CPT), and they designate the task or
service a healthcare provider can offer (Pineiro, 2021). For
example, CPT code 99454 reimburses physicians $51.61 (during
a calendar month) to monitor physiological data remotely as
part of the patient's treatment protocol (Validic, 2021). Since
the acquisition hardware is durable (e.g., reusable for one
particular patient) and the SaaS piece will support multiple
patients simultaneously, the clinician customer will likely be
interested in the care and financial benefits of the proposed
product/service.
Value Proposition Statement

5. Reflecting on the targeted customers and the elements of value,
the following is the initial "value proposition statement"
(Shewan, 2018) for the proposed product/service:
Empower your patients to live productively, pain-free.
References:
Alsumidaie, M. (2017). Non-Adherence: A Direct Influence on
Clinical Trial Duration and Cost. Applied Clinical Trials.
Retrieved
from https://www.appliedclinicaltrialsonline.com/view/non-
adherence-direct-influence-clinical-trial-duration-and-cost
CMS. (2019). Quality Measures & You: Clinicians. Center for
Medicare and Medicaid Services. Retrieved
from https://www.cms.gov/Medicare/Quality-Initiatives-Patient-
Assessment-Instruments/MMS/QMY-Clinicians
FDA. (2014). Basics About Clinical Trials. Unites States Food
and Drug Administration. Retrieved
from https://www.fda.gov/patients/clinical-trials-what-patients-
need-know/basics-about-clinical-trials
Genentech. (2021). Global Clinical Leader. Genentech.
Retrieved from https://www.gene.com/careers/detail/202105-
113963/Global-Clinical-Trial-Leader
Grant, M. (2021). Software-as-a-Service (Saas). Investopedia.
Retrieved from https://www.investopedia.com/terms/s/software-
as-a-service-saas.asp
Pineiro, J. (2021). Medical Billing CPT Codes: What is CPT?
Meditec. Retrieved from https://www.meditec.com/blog/cpt-
codes

6. Shewan, D. (2018). 7 of the Best Value Proposition Examples
We’ve Ever Seen. WordStream. Retrieved
from https://www.wordstream.com/blog/ws/2016/04/27/value-
proposition-examples
Validic. (2021). Your Guide to Reimbursement for Remote
Patient Monitoring. Validic. Retrieved
from https://validic.com/your-guide-to-reimbursement-for-
remote-patient-monitoring/
2nd response
RE: Week 3 Discussion
COLLAPSE
Hi all,
Hope you are all having a great week. Please see the
following week 3 DQ post.
For Whom Am I Creating Value?
The market segment in which I am targeting is small
businesses in Ontario that operate within the retail and service
industries whose revenue is typically less than $6 million
dollars a year (ASQ, 1). Importantly, segmenting a market is
critical to focus resources, increase customer retention, lower
cost of acquisition, and improve the chances of selling to
customers (OpenView, 2). Ultimately, value is created whenever
a customer agrees to pay for a product or service but it’s
important to understand that utility diminishes over time (Frakt,
3). As a result, continuous improvement will be needed to
relentlessly drive value for the customer.

7. Who are your most important customers and where is the
customer experiencing the product or service (in person, online)
The most important customers are those that fit
within the strategic direction of the company, its defined market
segment and who finds value in our service. Furthermore, the
purpose of a business should be to create and retain these
customers over the long-term whereby you have the greatest
potential to maximize profitability (Sherman, 4).
In addition, since my service is about enabling data
analytics for small business, customers are mostly going to be
experiencing this online. Specifically, leveraging advanced
analytic technology is mostly completed through cloud services.
However, I do believe in the importance of meeting with
customers directly, understanding their pain and incorporating
them directly in the solution (Chick, 5).
What value do you deliver to the customer? Which customer
needs are you satisfying?
I believe the value that we can deliver is enabling the
client to obtain customer and market insights so that they can
drive value for their own customers and create a competitive
market advantage. Additionally, one of the most important
things for a business to do is to not only create an offensive
strategy but to also mitigate risk by establishing an economic
moat (Gallant, 6). Data analytics provides the intelligence
necessary for customers to make agile, forward leaning
decisions instead of always chasing their tail.
Which one of your customer’s problems are you helping to
solve?
The main problems that I am helping to solve is to remove the
barrier to entry for accessing cost effective data analytics

8. services and to empower my customers with the business
intelligence needed for them to win. As I look at the anticipated
services, there is room for improvement to ensure the offerings
are deep, intelligent, complete, empowering and elegant
(Kawasaki, 7). Increasing the product pipeline to meet these key
characteristics will help to maintain stickiness to my brand over
the long term.
Looking forward to your feedback.
Regards,
Marco
References
ASQ. (2021). What Is A Small Business?
American Society for Quality.
Retrieved from
https://asq.org/quality-resources/small-business
OpenView. (2010). What is Market Segmentation?
Open View Venture.
Retrieved from
https://www.youtube.com/watch?v=pxcNVrwkroU&t=12s
Frakt, J. &, Piper, M. (2014). Microeconomics Made Simple.
Sherman, L. (2012). If You’re in a Dogfight, Become a Cat!
Chick, I. (2018). The Why of Innovation.
Medium.
Retrieved from
https://medium.com/@isabelachick/the-why-of-innovation-
b69e5420044a

9. Gallant, C. (2021). What is an Economic Moat?
Investopedia.
Retrieved from
https://www.investopedia.com/ask/answers/05/economicmoat.as
p
Kawasaki, G. (2015). The Art of the Start 2.0.