Tag Archives: health care

Consumer Electronics Show 2022 Tackles the Future of Tech

The Consumer Electronics Show (CES) is one of the largest and most influential showcases in the world for introducing innovative technology products from around the globe. Even during the ongoing pandemic, the Las Vegas-based show brought in nearly 45,000 attendees to the show floor. Plenty of people also ‘attended’ online with companies showing both concepts and real-life products. Attendees arrived from 119 countries to engage with emerging technologies and products across 11 different indoor and outdoor venues.

A diverse group of 2,300 companies (including 800 start-ups from 19 countries) showcased the latest innovations in the metaverse, NFTs, cryptocurrency, sustainability, wellness, transportation, entertainment, robotics, automotive, consumer goods, and more. And while the metaverse may be mostly just a concept today, CES illustrated how the building blocks it needs are already around, including blockchain, cloud, AR, VR, 5G, and more.

The show also provided looks at products in the marketplace as well as products-yet-to-be-launched in categories including:

  • Wellness and beauty
  • Smart devices for the home
  • Content creation
  • NFTs and crypto
  • Healthcare
  • Shopping and ecommerce
  • Artificial intelligence
  • eSports and sports tech
  • FinTech
  • Food tech
  • Pet tech
  • Workplaces
  • And of course – robots!

One of my personal favorites – BMW’s color-changing car!

What’s your favorite innovation from CES?

Group Activities and Discussion Questions:  

  1. Discuss the purpose of CES show and how innovation fits into it.
  2. Also discuss the use of trade shows and exhibits as part of a marketing plan.
  3. Show a summary video about COVID-19 products at CES from the Wall Street Journal – CES in photos: https://www.wsj.com/story/ces-2022-in-photos-a-strange-time-for-the-worlds-biggest-tech-show-a247b630?mod=djemfoe
  4. Additional summary videos can be found on YouTube, such as: https://youtu.be/GAzygeV_AsM
  5. View the CES Web site: https://www.ces.tech/
  6. Divide students into teams. Have each team select a product featured at CES.
  7. Instruct students to research the products online, and define a target market for the product?
  8. Which ones do they think will be winners in the marketplace? What products miss the mark?

Source:  C/NET; TechRadar; The Verge; Wall Street Journal; other news sources

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Coming Soon to a CVS Store Near You – Therapy Sessions

Feeling stressed or down lately? Sorry to say this, but you are not alone. There is no doubt that the past year has had a strong impact on our mental health as people deal with new issues stemming from the pandemic. Many people find benefits from therapy during those times, but it might not always be easy to find a therapist and schedule times to visit.

To help people deal with these issues, CVS is now offering counseling services in or near select stores in Florida, New Jersey, Pennsylvania, and Texas. At these locations, CVS now staffs a licensed clinical social worker trained in cognitive behavior therapy. To address privacy issues, CVS says customers would have no way to know that someone is getting counseling (as opposed to other clinic services) in private rooms. An initial assessment with the therapist costs $129, while a 30-minute counseling session costs $69. Treatment would not be a substitute for long-term care, and would instead be used for issues that could be worked on in five or six sessions.

While at first glance CVS’s move might seem a stretch, it is also another way for retail pharmacies to offer additional health care services to customers, and in a place that they regularly shop at. CVS is being joined in these new therapy service offerings by rivals Walgreens and Walmart.

Social workers think that offering counselling in places consumers already visit will be a good draw, particularly for people in lower-income areas, or who lack health insurance.

Some days, we all need a little extra help.

Group Activities and Discussion Questions:

  1. Discuss the environmental factors that have led to new therapy service offerings.
  2. How have these factors led to new services?
  3. Show video of athletes discussing mental health: https://www.wsj.com/video/how-athlete-candor-on-mental-health-is-changing-the-game/8F51F296-46AD-423D-9B9F-C24E4DF6D7AD.html
  4. Ask students their opinions on the topic of mental health services as part of a whole care strategy.
  5. Show CVS website for mental health services: https://www.cvs.com/content/health-hub/mental-health-counseling
  6. Brief video of the services: https://youtu.be/3ZJcy8W3d0A
  7. Divide students into teams. Have each team develop a SWOT analysis for CVS that includes recent environmental trends.

Source:  Wall Street Journal; NPR; other news sources

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Google Acquires Fitbit

Acquisitions can be tricky. Companies need to assess what markets to enter, and which products and services are needed for those markets. While it is common for food and beverage companies to use acquisitions to gain market share, it can be a tad trickier when combining technology companies. A key consideration is that companies find synergies that can be capitalized on when combining organizations.

A recent acquisition of interest is the purchase of fitness tracker pioneer Fitbit by search engine giant Google for an estimated $2.1 billion. The acquisition moves Google into a better position in the wearable technology market and gives Fitbit access to more resources, technology, and marketing. (However, there are still some outstanding issues with government regulators; use by Google of Fitbit data for advertising purposes is a concerns to regulators.)

Fitbit is a familiar company to most college students. Founded in 2007, the company makes watches and bracelets to track health information; it has an estimated 20 million active users. New Fitbit products include Fitbit Stress, featuring stress management tools and an ECG app to assess heart rhythm. Fitbit’s products are carried in 39,000 retail stores in 100 countries. Annual revenue in 2009 was $1.4 billion.

Fitbit’s overall market share has decreased dramatically since the introduction of Apple Smartwatch. Its market share of 4.7% is significantly lower than the market leader Apple at 31.7%, followed by Xiaomi and Huawei.

How do you track your fitness?

Group Activities and Discussion Questions:

  1. Discuss the four key marketing strategies: product development, market development, market penetration, and diversification.
  2. Discuss diversifications/acquisitions as a marketing strategy. When is this effective? When is it not effective?
  3. Show Fitbit’s Web site and products: https://www.fitbit.com/global/us/home
  4. Show Google’s products’ Web site: https://about.google/intl/en_us/products/
  5. Do these two companies complement each other? If so, now?
  6. Divide students into teams. Have each team develop a promotional plan that the companies can use to promote their combined value to customers.

Source: Associated Press; CNN News; Wall Street Journal; other sources

 

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