Product – MedWhat is a free personal medical assistant app that provides automatic answers to an individual’s health and medical questions. Users create a personalized yet anonymous health profile to include age, gender and current medical conditions. MedWhat uses the health profile to provide answers to questions as well as give health notifications to an individual’s phone.
Market Type – I believe MedWhat falls under the category of a low-cost, new product attempting to resegment an existing market (healthcare industry). Since MedWhat is an app for smartphones, it would also be involved in the technology market.
Customer and Problem – MedWhat targets individual end users who need quick, accurate and inexpensive (free) health/medical advice. Its users are likely somewhat tech savvy (i.e. use smartphones) and cost conscious. MedWhat generates its revenues from advertisers and health insurance companies/pharmaceutical companies/research labs who buy MedWhat’s data insights.
Competition – MedWhat’s primary competitors would be other existing medical assistant apps offered on smartphones. MedWhat also competes with physicians and other providers within the healthcare industry.
Pain Killer – I believe MedWhat’s product is a “pain killer”. Its users and revenue generating customers are each provided with significant cost savings (users receive free medical advice; revenue generating customers are provided with cheap useful medical data about individuals). MedWhat’s users also save time and energy by not having to go to the doctor’s office and instead are provided with quick and accurate information about their health.