“Based on the cost of components in the augmented reality glasses, the price could be as little as a fifth of the current model, which is so far available only to selected early adopters.”
This figure has been predicted by industry analyst, Jason Tsai, not from Google itself and therefore has no official ground. Even though the cost has been estimated through the research into the components costings, Google will need to decide which type of demographic they wish to present their product to. It has been mentioned that they believe their target market is the general public, although the disposable income available ranges between the public. With the current cost of £985 for the explorers to purchase Glass, £200 is more affordable for a larger scope of people however, I believe Google will wish for a larger profit margin to allow for further research to be undertaken for the next model.
“But it seems to me the price will be a fraction of the original cost, once we’re not paying for the exclusive bragging rights of being first to try the much-talked-about gizmo.”
It is common knowledge that the first release of a new product will be its highest official pricing due to the high demand and people willing to pay a larger sum of money to be the first to experience the new gadget. However, a fall from £985 to £200 appears very drastic to me and it is clear that there are consumers who entered the lottery who’re willing to pay nearly £1000 for the innovative gadget. Nonetheless, Google’s aim is to reach farther than 10,000 people but to the mass market and therefore would have to make the gadget accessible to people with less disposable income although I don’t believe it will be as little as £200. If the product does sell at Jason’s estimated pricing then Google will have a smaller profit margin which they could draw from to invest in developing the product for its next release, which would insinuate they would have to label it higher.
This means RoseTinted would only be available to those individuals or companies who could afford the Glass as well as access to the app, however; many companies will spend a lot of money in enhancing their organisation to ensure of a successful event which would bring in more money through buyers etc. Fashion GPS costs $400 a month for prescription and therefore it is clear the fashion industry is open to paying costly amounts for organised systems.
There are a range of factors going into peoples decision making about whether or not to purchase Glass, such as the functions it offers and the aesthetics. The product is still within its infancy stage and therefore will answer and solve these current queries but they appear problematic at this moment. The fashion conscious demographic are appealing for a more stylish and less noticeable, however, this may cause further inquiry into the invasion of privacy as people already fear they’re going to be recorded without noticing. If the design becomes sleek enough to look like mainstream glasses, will people be able to tell the difference between Glass and prescription glasses? Even though Google have encouraged the general public that functions and lights will make it clear whether or not they’re being recorded, there will always be a doubt if the design becomes so normalised, it is unrecognisable. Furthermore, will Google encourage designs which blend into the crowd? For such an innovative product upon its release it would be understandable that they wish to make it noticeable for those wanting to flaunt their new device and create a brand image people quickly recognise.
Understandably, people want more for their money than what Google is currently offering with Glass’ functions. Even though Google are continuously improving and developing ideas for Glass, the general public need to be notified of these developments to ensure they know why Glass will benefit their life. If Glass remains a novelty and only an add on to a mobile phone it will be harder to sell the product to a mass market and thus Google need to create more apps which exploit all of the potential within Glass and what it may possess.
“Topology researcher Jason Tsai also suggested that wearable gadgets will be the next big thing in tech, exploding to a market worth $18bn in the coming five years.”
Whilst smartwatches and the Nike Fuel band have already been released to the general public they haven’t created as much of an impact Google Glass already has, before it has even been publicly released. Google have developed the next generation in wearable technology, possibly even technology as a whole and Jason Tsai sees the potential it has as a product to benefit the owners life. Even though Glass is still within its infancy stage Google is steadily picking up pace with producing technology that will open up new potentials within Glass in regard to its first-person experience and constant accessibility. Once more competitors are introduced, more apps and options will be available helping build the industry which will lead to more wearable products and to Jason Tsai’s estimation of an industry worth $18bn.
With the potential of wearable technology reaching an industry worth of $18bn, it is clear that other industries reliant on technology and the latest developments in organisation will become involved in either developing their own wearable technology or investing in devices for employees. Fashion is a fast paced and sometimes hectic industry and therefore organisational systems have to be put into place, RoseTinted would help manage the busy schedules of all those working backstage and companies may even buy Glass for them if they do not purchase it themselves. Fashion and technology were previously distant industries but with the introduction of 3D printing for designers and holographic catwalks being projected across the globe, the industries are merging closer and with the latest introduction of Glass, they will unite further.
Additionally, with the growing potential of both Glass and its involvement within fashion I would ensure that RoseTinted wouldn’t have to stay loyal to only processing with Google due to the potentials within Apple and Microsoft alike. Creating the umbrella company for the app would be a potential but also offering Google the opportunity to purchase loyalty for the first 3-5 years would ensure that RoseTinted is offered to anyone purchasing Glass as well as growing alongside the developments of its latest technologies.