Market Segment Analysis: Computer Sports Medicine Inc.
CSMi has a wide portfolio of healthcare products. One product is an electronic health records system (EHR) that tracks injuries, treatments, and all related information called SportsWare. They sell to a variety of market segments of which are listed below.
Primary Segments
Schools – The SportsWare product is sold primarily to high schools and colleges/universities although any organization that has has athletes such as middle schools, ect.
Physical Therapy Offices – SportsWare is used by physical therapists and athletic trainers to track a person’s injury history and add treatments for a specific injury when a person comes to their office.
Sports Teams – The SportsWare application is used by athletic organizations such as professional sports teams to track their player’s injuries and report statistics and track treatments performed by athletic trainers.
Secondary Segments
Light Users – SportsWare comes in two tiered packages – Basic and Plus. The basic allows users to track minimal information needed to run their operations and is currently priced at half of the Plus package.
Heavy Users – Users that need to be able to track detailed information including a user’s insurance information, product inventory, and other advanced features use the Plus package.
Analysis
CSMi has done a good job of making sure that they understand their user’s needs in developing their software package. They’ve also sub-divided their market segments to provide added value to their clients. They understand that not all users need the advanced features built into their software, so instead of losing those clients, they reduced the feature-set of the application and sell it at a discounted rate. CSMi makes it very easy for users to upgrade to the Plus version at any time just by entering a different license key. This helps grow revenues off of the fixed cost of developing the software.
CSMi has currently targeted the athletic field with their EHR software. They can open up their software to a greater amount of potential users (more market segments) by changing terminology in their application and allow it to be used in more industries than just athletics. This would require a minimal amount of reprogramming which can be released with the next major version of the software.