I don’t know what you think, but I think having all my fingers is important, and worth paying for when buying power tools. The question is how much more to pay though?
If we consider possible compensation from insurers for fingers, it ranges upwards of $15,000 depending on injury and occupation. But maybe you’re a very careful woodworker and don’t think this can happen to you. It might be wise to look at the numbers: Table saws account for about 30,000 injuries per year, and of those, amputations happen nearly 4,300 times. Whoa. That’s a lot to consider.
Now, what if there was a saw that prevented the blade from cutting fingers and hands? Well, that would be great, but there is only one company that sells such a saw – SawStop.
SawStop products use a blade that carries a small electrical signal, which when skin connects with the blade, activates the safety system. An aluminum brake springs into the blade path, which in turn stops the blade and motor instantly. In less than 5 milliseconds, the blade drops beneath the table and removes all contact risk for woodworkers. No fingers lost.
SawStop holds more than 100 patents related to its safety mechanism and its laws cost more than competing models. It is the only company that has the technology, and SawStop has not agreed to license the technology. However, the Consumer Products Safety Commission is now considering a mandate that all saws be equipped with the stop mechanism.
On average, SawStop table saws cost several hundred to $1,000 more than conventional table saws. It seems few consumers are willing to pay the premium as less than two percent of the 675,000 table saws in the U.S. are from SawStop.
What would you pay for safety?
Group Activities and Discussion Questions:
- Poll students: How much would they pay for a saw that would not cut them accidently?
- Show SawStop website: https://www.sawstop.com/
- YouTube channel: https://www.youtube.com/@sawstop
- Pricing is a complex topic. Discuss the six steps for pricing (determining objectives, estimating demand, determining cost/profit relationships, select price level, set list price, and make adjustments).
- Discuss the various pricing models in class: demand-oriented, cost-oriented, profit-oriented, and competition-oriented.
- For SawStop, divide students into groups and have each group work on the six steps.
- When setting the price level, assign each team a different model to use (demand-oriented, cost- oriented, etc.).
- Debrief the exercise. Compare the various pricing models and discuss advantages/disadvantages of each.
Source: Blatt, B. (30 March 2024). How much would you pay to make sure you never sawed off a finger? New York Times.
