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Results for 'market development'

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COMODAL: COnsumer MODels for Assisted Living: project summary and findings

CONSUMER MODELS FOR ASSISTED LIVING
2015

An evaluation of the 3 year COMODAL (Consumer Models for Assisted Living) project, funded by the Technology Strategy Board, which aims to support the development of a consumer market for electronic assisted living technologies (eALT). The project focuses on those people aged 50-70 who are approaching retirement and older age to gain an in-depth understanding of the barriers to market development and create consumer led business models developed through collaboration with consumers, industry and the third sector. The report focuses on five key strands of the projects: understanding consumer needs; developing solutions and consumer led business models for eALT; development of industry support system for practical implementation of consumer led business models; development of consumer insights guide for industry; and impact, dissemination and exploitation. The report reveals there is a disconnect between industry’s perceptions of what consumers are looking for in the eALT market and that existing businesses in this sector are on the whole set up to serve statutory services rather than consumers. The top three factors that encourage consumers to buy are: believing that a product would really make a difference, a feeling that costs are affordable and worth it, and a belief that the product would make life safer at home.

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