Question

can i get the answer to this? it is due in an hour

Hot&Cold is a company that has invented a new thermometer for measuring human temperatures. Its device has many features, some of which have high "uniqueness" value compared to the alternatives. Also, some of its features are expected to be in high demand, whereas others may not be considered useful by many of its targeted customers. After extensive research of its target markets, the company has created the following table of its features and scored each feature for its uniqueness" value (high or low) and expected "popularity of the feature (high or low). The company is targeting both home-use and commercial (hospitals, clinics, nursing homes etc.) markets # Feature Uniqueness Popularity A Displays temperature on device Low High B Connects with smart phone Low app High Displays temperature с Low Low on app D App maintains record of High temperature High App links with other health High data on High phone

Answer 1

The two tiered pricing should be looked at from the perspective of the consumer and possible difference in value propositions to the target consumer. A standard product with features low on uniqueness but high on popularity (i.e. perceived value) may be a better fit with a home consumers whereas features which are high on uniqueness can be looked at for commercial use.

e.g. Home Users' variant which focusses on key features like temperature display, connecting with smartphone, "speak" technology and unbreakable

A Doctor's variant which stores data for multiple people over time to analyse patterns etc. This kind of a device would then be also priced higher as it will have all the basic functionalities as well.