The new business will be a venture within an existing company, which is Apple Company to support the imitative of establishing an appeal application in iPhone for offering health consolation to the users through an online health magazine to advocate for personal health reforms.
The company will be based in London city, under the name E- Well Company, projected to be among the leading consultants in health and diet issues. The company will prides itself in a robust online presence with well-articulated messages on the need for effective health reforms. The projected annual turnover will be about $280,000.
E-Well company mission is to be the top innovative online health magazine fuelled by the commitment of the employees in the delivery of exceptional results and creating the ultimate super brand health solution in the United Kingdom.
E-Well is ultimate solution to well being
- Identify the accurate marketing strategies in the wake of the current world inflation in order to appeal to a greater market share.
- Offer a competitive price range that is below the current market price, while offering high marginal quality and customer service.
- Conduct customer surveys and have a customer focus group in an attempt to get customer input on the competitive products, services, industry prices, and any other areas that require improvement.
The current emphasis on the need to be conscious of our health has enhanced the demand for access of information on health issue, a very pertinent issue in the society (Marmot & Wilkinson 2006). With a population of close to 8 million, London city provides a perfect market base for the establishment of such a business franchise, the establishment of an e health magazine accessible online and also through an iPhone application (Nieman 1998). Confidentiality of an individual’s health information is one concept that all citizens would marvel (Consterdine 2005).
In the corporate world, the sudden focus on the health benefits of maintaining a good exercise activity shall focus on advising the employees of their organization (Nieman 1998). In this respect, E-Well will lay net to tap into this market. With the dedication of the employees and the strategic business development plans in place, the company is set to reap heavily into this field (Henningfeld 1998). Moreover, the iPhone application will take advantage of the growing number of users of the iPhone gadget to tap into the market provision of the same (Morgan & Goldstone 1998). E-Well appreciates the significance of business competition in the daily running of business processes (Aaker 2002).
The Product Outlined
The e -Health magazine will be bi- weekly online production from the E-Well Company. The E-Well company will specialize in consulting services on health issues and offers a range of exciting services to its clients.
Other services that E- Well will offer include:
i. Advice on the dietary needs through the simulated program in the iPhone application
ii. Offering advice on referral services and connecting clients to the dieticians in the city.
External Factors Analysed
- Large selection of markets for consumers (Varghese 2012)
- Lower operational costs
- The business is unique compared to the conventional modes
- Regulatory and legal requirements such as unfriendly legislations may pose a threat to e-commerce
- Low barriers to entry into the market, hence many competitors (Aaker & McLoughlin 2007)
- Higher costs of iPhone and Internet connectivity
- E-health offers a new level of health consultancy compared to erstwhile methods (Faulkner & Taylor 2005)
- The customer experience can be increased through live chats (B E H 2005)
- Sometimes there are free or low cost health journals online
- Threat from the information sharing in the social media
- Security and fraud threats may pose a problem (Aaker 1992)
Projected Initial Cost
Activity Approximated Cost ($)
Web designing for the magazine portal 1,400
Content management of the site 300 per month
Marketing and distribution channels 600
Hosting and domain name purchase 2, 000
Total cost (annual) $9,480
Annual Recurrent Expenses
Rent for office work 1,800
Article writers 2,400
Research journal subscriptions 800
Internet cost 240
Office running 2,000
Expected Revenue Collection
Adverts in the magazine 4,000
Corporate deals 8,000
Royalties from the iPhone app 10,000
Total $26,000 per Month