Hello all,
As we mentioned in our presentation during the last class, our team has finalized our project idea - we are combining two patents (from UC Berkeley & UC Davis) in order to create a wearable tech device that will track the body's responses to various stimuli and events throughout the day and then provide the users with "recommendations." In this blog post, we'll go over some of the specifics of what our team has accomplished in the past week, and what our plans for the upcoming week are.
During this week, we spent a lot of time coming up with a more concrete, specific idea of how to design and market our product. Some of the ideas we discussed are a b2b vs b2c product, which group to introduce this product to, and how to best assuage customer concerns. It seems like a solid way to get market penetration is to begin by targeting individuals with mental disabilities, depression, PTSD, etc. These individuals would be in more dire need of such a device, and would be more likely to buy - this would also create trust in the brand and in the product, assuming the technology works as expected. Once we have fostered some level of consumer trust, we can then market the now proven technology to the average consumer, and market it as a lifestyle-improver, as opposed to a cure for a specific affliction. In the process of thinking of the consumer, we began to draft ideas for what kinds of questions we want to ask in our customer survey. Our goal being to get enough data from a diverse set of individuals (different ages, different experiences with wearable tech, etc.) to see what kind of product would fit the needs of the average individual. We will formalize and roll out the surveys this week, as well as attempt to finish our value proposition canvas.
In terms of future plans, by the end of next week, we should have all our customer surveys done and begin drafting a more specific product description & marketing/branding plan. In addition to the customer surveys, we will also be conducting outside research & case studies on similar technologies (we have already begun looking into companies like fitbit) in the wearable tech space, to see what product design/marketing techniques are successful, and which are not. This way, with a combination of direct customer information as well as external research and empirical evidence from case studies, we have a swath of data to use when creating our final plan and pitch.
That's all for this week!
It sounds like you are on track with your customer research! That is great that you are almost done with your customer surveys so you really know what potential consumers are looking for in your product! Our team is on a similar track and are also conducting surveys. Did you post your survey on any Berkeley Facebook pages? Our team is trying to figure out the best way to maximize the responses for the survey. Keep up the good work!
ReplyDeleteHi! As you're moving forward, you're having a more concrete idea for your project, and that seems great. The way in which you seek to penetrate into the market sounds interesting. We also discusses the opportunity of introducing our technology into the medical market, but decided to go to entertainment. Winning the consumer trust can be really challenging, but you're in your way. Good luck!
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Awesome that you're combining two patents and creating a mechanism that monitors then gives suggestions - that last part is a unique twist from any wearables available today, and it can appeal to diverse customers, just like you want.
ReplyDeleteI like what you guys are doing. I think it's a good idea to start with a more narrow and defined target market and then scale it once you have established your brand and developed a reputation.
ReplyDeleteI like the methodological approach that you are taking to introducing your product into the market. I think how you identified the next steps would be very useful too in helping you to keep track of your progress. All the best!
ReplyDeleteHi there! It's a good idea to start with individuals with mental disabilities which may give you more insights about user experience data in the early period. Look forward to seeing the marketing and branding plan!
ReplyDeleteI find your patents very interesting and I think it is very smart to combine two patents to create a product in order to have a broader goal for your product. I feel like this will also help increase the size of your target market and make your product unique.
ReplyDeleteUsing a combination of patents to develop your product will definitely make you group stand out among others! You guys seem at a good checkpoint and customer-survey research sounds like the next milestone, good luck!
ReplyDeleteCombining two patents sounds like a great idea, especially if it has to do with the emerging tracking sensor market. I'd like to hear more about which patents you chose and specifically how this product works.
ReplyDeleteIn your post, you said "Our goal being to get enough data from a diverse set of individuals ... to see what kind of product would fit the needs of the average individual." This sounds like a great design-thinking method, so if you can do this, you must have a technology that is pretty versatile. Can't wait to hear about it more.
I agree with Matthew, it sound like you´ve been applying a lot of the principles of Design Thinking. I am excited to hear the results from the surveys and once you've understood your target customer completely.
ReplyDeleteI really like the idea of preparing surveys for your customer, we have done interviews so far but I think asking for useful information that you customize in a survey is better. Thanks for the idea!
This post really tells how valuable customer research and interview are. I hope you get to establish a good communication with them. It is also amazing that you are combining two patents. I enjoyed reading your post, and thank you for sharing your process.
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