Friday, October 17, 2008
MedNet.com
While discussing about MedNet.com study case ....I wondering what the prof. said ...there must be such data to prove our analysis. But, in this study..there is no such data that have been given for Cholestrol.com ...so, in this case, how could we explain to Baker in order to convince her...that MedNet services still better than Cholestrol.com ?
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8 comments:
I guess the answers is what Prof said when he answered my question, "please ask me if you need more information on the case study". Isn't it so Prof?
Thanks
-rizki-
personally, I think you are right Yanti. The case is given at a limited amount of information about cholesterol.com (especially, financial attributes)...I mean, its not going to be objective if we only took one part (estimated contribution per sales) as our ground...there's no such thing 'ceteris paribus' where everything stays in the same state while only one factor is changing (especially if we want to analyze two companies performance). I think the assumption we took using that kind of method is not entirely correct. What I propose to do is we can start analyze the business model...I think, MedNet has to start finding it's value prop if not to start selecting it's particular market as going forward I believe advertisers will most likely to look for a specialized sites rather than general
what do you think guys?
rgds,
arya
I think we should propose the proposition based on the strength of Mednet,the web page of “trusted medical information”. And those people make click-throughs on Mednet are serious and do have the demand to buy the advertized products. (Exhibit 3 - 85% strongly agree Mednet provide with used remedies and info than other advertiser found on websites that don’t adhere to the same evidence-based standards. 93% say Yes to return to mednet next time of they need medical information). As Mednet finally turned Winham to go away from Mavel as Bishop and Yates counted about the TOTAL value of the advertisement, not only click-throughs they can do the same with cholesterol.com Besides, Yate and Bishop can talk about the opinion from board member that those condition specific sites like choletrol.com (quote) "came dangerously to diagnosing conditions and prescribing treatments for their visitors" ...Therefore "Mednet's refused to provide tailored recommendations about medical treatment"
However, in the long run should Mednet think of other strategy as corporations, strengthen their advantages and make their website more useful and attractive to viewers so that it can be independent from those big clients like Marvel or being in front of competition by cholestrol.com.
Let me share my point of view. Correct me if I am wrong.
Cholestrol.Com fell under the category of Healthcare Website. On exhibit 4 it stated that average profit margin for this category was $150.
With assumption that Cholestrol.com has same attribute with Marvel (click thru figure, impression figure,cost per click thru, profit etc.) from there Prof put the figure $150 into column Profit in his Excel Analysis. Therefore from the sheet we can do the analysis and support the value proposition for MedNet. i believe it was a very good simulation to support value proposition for MedNet in the view of Windham as their customer.
just my 2cents opinion..
I agree with you arya, Mednet has to redefine or at least figure out their value proposition.
However before doing such thing, you have to know first that something is wrong in their value prop, and we could find it within the numbers.
Actually I found a similar tool on the net :
http://harvardbusinessonline.com/flatmm/flashtools/webmetrics/
In the real world, the language that most executives understand is about $$$ (or Yen, Peso, Ringgit, etc...). Thus, I can strongly relate to why our Prof is emphasizing the need for us to "look at the numbers" and develop a case based on the "numbers". I have seen this happen in our meetings back at work where we have prepared for a presentation to request for the release of budget for IT projects ... and we always get hammered on on the cost, price, numbers, figures (whatever else you can call it) ... but the bottom line is - well, the bottomline. How much and how soon can we recover.
Personally, I think that MedNet.com case is a good way of pointing this out to us since IT is really a cost center. This being the case, we have to brace ourselves to communicate what the numbers (costs) are saying and be ready for the questions that will follow.
In essence, by being able to "read" the numbers, we can build a solid foundation for our projects or cases in the future (or, in our succeeding case reports, for that matter).
I am working on this case study, it is tough to get an answer to Mahria on Cholestrol.com....so what was the alternative you guys went with, I'll appreciate if you can share it me.
-Sam
Hi guys. I am doing this Mednet case now. So would any of you tell me what was the real solution. Please?
Thank you very much
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