Article ID Journal Published Year Pages File Type
173777 Computers & Chemical Engineering 2009 10 Pages PDF
Abstract

This paper applies a recently proposed procedure for product design [Bagajewicz, M. (2007). On the role of microeconomics, multi-scale planning and finances in product design. AIChE Journal, 53 (12), 3155–3170] to the design of a medical diagnostics device. The case selected is a saliva diagnostic kit to detect kidney disease, with targeted consumers of doctors, hospitals and clinics. The procedure proposes to make a connection between consumer preferences in different markets to the characteristics of the product. The procedure includes a price–demand model and maximizes the profit by simultaneously changing product characteristics and product price. A consumer preference model based on the kit performance as a function of its design was developed to assess consumer choices. The best product from the consumer point of view turns out not to be the most profitable.

Related Topics
Physical Sciences and Engineering Chemical Engineering Chemical Engineering (General)
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