Designing the business model for VR products with the purpose of relaxation therapy - Case VIEMR

Abstract

This thesis was commissioned by VIEMR, a creative industry company based in Groningen, the Netherlands. In the company's attempt to increase their visibility in the customer segment of mental health care solutions, they currently lack a well formulated strategy. Therefore, the objective of this study is to create a strong value proposition for the chosen customer segment and formulate a business model for VIEMR to lay out a strategy to become a VR specialist within the Mental Healthcare sector specifically in relaxation therapy. This research is mainly based on entrepreneurial tools, namely the Business Model CANVAS and The Value Proposition Designer, SWOT analysis. In addition, the study reveals the basic concept of the business model and tells about its limitations. This research utilizes the case study approach, as it is a relevant method providing an answer to the questions of “how” and “why”. It also allows to combine different types of information sources. This study is based on primary sources – interviews, internal co-creation workshops, as well as secondary sources – desk research. The findings were processed using the chosen business tools and revised by the commissioning company in internal workshops. The final business model proposal was formulated according to the findings and recommendations for future research were provided.