Business Model Canvas Report - Essay Example

My business model will target smartphone users with a hardware dongle attached to the smartphone and an app to analyse results from the dongle. This business model will target the two smartphone manufacturers based on market share, Samsung and Apple. In the US where I focus primarily, shipments of the above smartphones represents about two-thirds of total market share. This is coupled with the high costs of traditional glucose measuring devices provides relevance for my business idea. In the development of the business model, I have identified key partners that I will be working with.

These partners are critical for the success of my business model. I will work with endocrinologists who treat diabetes. They will work from the Mayo Clinic Division of Endocrinology, Diabetes, Metabolism and nutrition research. I will also seek membership in the American Diabetes Association. My business model will also require 15 diabetes patients in different age groups on whom testing will be done. I will also team up with endocrinologists to survey patients. In the development of the app, I will target the two market leaders in terms of market share.

Apple through the iOS developer program for Apple iOS app store and Samsung for the Android Marketplace. I will also be working with MedSpark LLC that specialises in FDA submissions, medical coding and design development. Eventually though manufacturing will shift to Turkey to take advantage of low price points. The medical professional I am going to work with will mainly aid in trial conducting and together with the health organisations and the patients, they will help in product promotion. The smartphone manufacturers will offer legal guidelines in terms of copyrights and will actively take part in marketing.

The partners will have key activities that they will undertake to ensure the success of the model. They will validate the production of the app. They will also provide the necessary