November 7, 2007
Haley Barrs
Brad Bostwick
Lindy Dugger
Allison Johnson
Hyong Ji (Julia) Kim
Allan Lansche
Hammy Mercer
Rejon Noah
Jeremy Rowland
Nicole Sanhamel
Steven Savage
Blake Williams
After realizing that the PDA for diabetes already exists, we changed our product back to how it was before. We decided to make it similar to a watch/band with easy size adjustments to wear on different parts of the arm. We decided it would be best if this device has micro needle technology that reads glucose levels in the body. The needles would be inserted in the back of the face of the band. We found out that the needles used in micro needle technology can be very itchy. In order to prevent users from a long period of discomfort, needles will only inject into the skin at designated periods of time. Users would be able to program Insulend to monitor their glucose at different time intervals throughout the day.
If glucose levels got too high or too low in the body, the band would notify emergency contact via blue tooth technology. The users would be able to set up the preference order of who to call in case of an emergency. If levels are dangerously high or low, Insulend would be programmed to check the patients levels on a more constant interval until their body came back to normal levels.
We also decided to add more information to our web site regarding information about diabetes and the types of people who have it. We want people to be able to come to our website to understand more about diabetes and how our product will help prevent it from worsening.
We had some difficulties determining the price of the product. If we put the product on the market at a really low price, we would not profit from it. We also did not want to make the price of the product ridiculously high, because we want patients to have the means to obtain it. We are thinking about setting the price at $99.95. The average price of current diabetes aids ranges from $20-$70. However, these products do not have Bluetooth or micro needle technology.
Because people are only likely to buy this product one or two times in the course of their life, we had to think of ways to make money more often. Users would have to go to a check up twice a year to replace their needles. This is more convenient than the current replaceable need of needles, which is about every month. We will also have bands of different colors and sizes available for sale, similar to cell phone colors. Users could purchase bands that match their tastes and outfits.
((I also got the chance to talk to Amber, just to let you all know.))
