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Mydesign
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Platinum
Re: Congrats Andrew
Mydesign   1/23/2014 4:45:37 AM
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"Cost is a challenging item to get a grasp on because of the marketplace driven by people's spending habits. As you pointed out, if a product meets a certain emotional or physical need more than likely people will buy it at top market value price."

Mrdon, anything which at a lesser piece than existing models can grab the market at a short time.

Mydesign
User Rank
Platinum
Re: Congrats Andrew
Mydesign   1/23/2014 4:43:04 AM
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"I just read in the Sunday 1/19/14 Huntsville Times edition that Google has step into the healthcare arena with a contact lense that can detect glucose in tears. The glucose monitoring device market is expected to be more than $16 billion by the end of this year, according to analysis at Renub Research. Agreed, definitely alot of opportunities in the healtcare industry."

Mrdron, diabetic, BP (Blood Pressure) and Cholesterol are the main lifestyle diseases, which can get effected by anybody. Google know the business trends and hence they are coming up with new technology.

mrdon
User Rank
Gold
Re: Congrats Andrew
mrdon   1/20/2014 1:32:18 PM
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Mydesign

 

All good points. Cost is a challenging item to get a grasp on because of the marketplace driven by people's spending habits. As you pointed out, if a product meets a certain emotional or physical need more than likely people will buy it at top market value price.

mrdon
User Rank
Gold
Re: Congrats Andrew
mrdon   1/20/2014 12:45:48 PM
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Mydesign

Thanks for the comment. I just read in the Sunday 1/19/14 Huntsville Times edition that Google has step into the healthcare arena with a contact lense that can detect glucose in tears. The glucose monitoring device market is expected to be more than $16 billion by the end of this year, according to analysis at Renub Research. Agreed, definitely alot of opportunities in the healtcare industry.

Mydesign
User Rank
Platinum
Re: Congrats Andrew
Mydesign   12/30/2013 11:19:21 PM
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1 saves
"I agree. I had the same notion while watching Andrew's Gadget Freak video about the commercial appeal to the healthcare industry. I believe his BOM cost wasn't significant and therefore would easily turn a profit. Andrew's device definitely has a lot of customer appeal (easy to use) and with the right investment can become a purchasable product. "

Mrdon, any new device or technology for health care domain can capture market within a short span of time. Peoples are much concerned about health than anything.

Rob Spiegel
User Rank
Blogger
Re: Thanks for your kind words
Rob Spiegel   12/23/2013 4:27:20 PM
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Hey Andrew, glad to hear you'll be bringing all three winning gadgets.

armorris
User Rank
Platinum
Thanks for your kind words
armorris   12/23/2013 1:22:53 PM
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Thank you all so much for your kind words. I'm very much looking forward to my trip to California. I plan on taking all three of the gadgets I had in this contest to show off at the trade show. Thanks again!

Mydesign
User Rank
Platinum
Re: Congrats Andrew
Mydesign   12/23/2013 3:35:50 AM
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1 saves
"I agree. I had the same notion while watching Andrew's Gadget Freak video about the commercial appeal to the healthcare industry. I believe his BOM cost wasn't significant and therefore would easily turn a profit. Andrew's device definitely has a lot of customer appeal (easy to use) and with the right investment can become a purchasable product. "

Mrdon, if peoples feel that the device is useful, then cost won't be a factor. Moreover bulk production and direct marketing strategies can lower the price to an affordable level.

mrdon
User Rank
Gold
Re: Congrats Andrew
mrdon   12/22/2013 2:38:06 PM
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Mydesign,

I agree. I had the same notion while watching Andrew's Gadget Freak video about the commercial appeal to the healthcare industry. I believe his BOM cost wasn't significant and therefore would easily turn a profit. Andrew's device definitely has a lot of customer appeal (easy to use) and with the right investment can become a purchasable product. 

mrdon
User Rank
Gold
Re: Gaadget Freak Winner
mrdon   12/22/2013 2:29:34 PM
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j-allen

I agree. Andrew has a special inventor's quality that is rare in today's society and that is to use his gift of inventing to make a difference in someone's life. Congratulations Andrew and keep up the good work!

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