Introduction. Illness Is The Most Important Problem In

900 WordsMay 22, 20174 Pages
INTRODUCTION illness is the most important problem in our life, people can’t predict the issues in their body unless they go to the hospital.Then the deadly disease may take our life if we didn’t recognize it earlier.Therefore, it is time to help people to regard for their health at any time, at anywhere.Illness detector is the name of our product.It monitors the functioning of people body through the chip that we will transplant in their blood vessel under people 's permission and advice them healthy lifestyle from doctors.In addition, our doctor will contact the customers if there is health issues occurred. VISION Improve the better healthy life of mankind and reduce the occurrence rate of the deadly diseases. INDUSTRY ANALYSIS:…show more content…
Threat of substitutes:high Our product is focused on the efficiency of physical examination which could be substituted by the low tech devices in the hospital.Therefore,the threat of substitutes is high. Rivalry among existing competitors:high According to Market realist (2015) website,”The medical device industry in the US consists of a few big players and a large number of small and medium enterprises (or SMEs)”.The existing competition is strong,therefore,the rivalry is high. Overall attractiveness of the industry medical device market is not very attractive from the analysis of Porter’s five forces,because of the high entry barrier and the uncertain level of threat of substitutes,the medical device market is highly risky but highly profitable.According to Market realist (2015) website,the top 5 players in US medical device industry are making profit up to billion dollars which attract many investors to invest,but it will be difficult claiming to the top of the industry.Overall,medical industry is profitable and risky. Customers and their needs We are targeting on the high level of income customers and those people who are very concerning about their physical condition.For those customers who are managing or controlling a big enterprises,they don’t have time to consider their physical condition.It is an extreme issue that a busy person who can’t manage his body under such pressure of
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