Tweaking the Innovation

This week, I struggled to find the exact revenue drivers for my product, as it is a medical service offered to a particular group of people. What I have discovered, however, is multiple ways I could sell my product that doesn't involve simply insurance or direct medical billing. For those who have not been introduced to my product, it is called the Epi-Band. It is a modern and innovative design based on an epinephrine auto-injector; however, it can be worn 24/7 in a comfortable band around your thigh, and will immediately release epinephrine into your blood system the minute its auto sensors detect high histamine levels.(See my week 5 Thunderdome project for further information!)

1. I've found that I can potentially profit not only from the actual sale of the product itself, but as a fashion statement. People who wear things for necessity find it appealing when it comes in fashionable pieces, the way young kids wear colored rubber bands in their braces or some people find decorate body casts. My outer band that encases the sensors can potentially be sold as separate, stylish pieces for when it is visible an worn with shorts or a bathing suit. With this in mind, I won't profit solely from billing insurances or direct consumer costs just for the medication it holds.

2. The core level of my product is that it delivers epinephrine and saves peoples' lives immediately when they go into anaphylactic shock. This product is purchased because it, regardless of anything else, holds the medicine that decides life from death. The tangible level of my product is the model and design that the epinephrine comes in. No longer will it be a large bulky pen that doesn't easily decipher which side the giant needle comes out of. No longer will it be forgotten in dire emergencies. And no longer will you waste minutes searching for your auto-injector when those minutes can cost you your life. My model is attached comfortably to you 24/7, the way an insulin monitor is. However, the needle remains inside the sensor until histamine is detected. The needle will then release automatically and deliver the epinephrine dose inside. The augmented level of my product really lies within the fact that it potentially can be covered by insurance depending on the individual case. Furthermore, it may have place utility if it is easily accessible in every pharmacy.

4. There isn't much I can do to alter my product's core level, because it is one medical treatment for a specific group of people. I could, however, look into other diseases that could use this potential technology that would be worn 24/7. I would like to alter the aspects of the tangible level and provide more ways to wear this design comfortably. As of now, however, it cannot be changed because the thigh is the only medically functional place that epinephrine can be injected to work immediately. Potentially, I could make the carrying case more functional, sleek, or stylish. The augmented level seems to be best changed through money incentives. This could be by allowing discounts on carrying cases (the bands) when purchasing a basic band! It is similar to the way iPhones are sold bare, and people automatically buy the case afterwards.