[EMF Audio (McMedics)]

Basic business math here (coming from someone who has to base product pricing off of market demand).

Would you rather sell 10 a year at $2,000 or 200 a year at $500? The cost of production for the dongle and cable is under $10, you're selling software that has a cost of development but no cost of production. At $500 a year, nearly every owner would buy one to have on hand just for "what if?" scenarios. People could literally buy it and never use it but feel OK about it. I for one would be more apt to use it more frequently as I do all my own service. At $2,000 you'll get few owners and zero service providers being a single VIN. At $6,000 you're still limiting your service providers.

So back to the math, if the hardware costs $10 and you sell at $500, that's $490 profit per unit. If you sell 200 a year, that's $98,000 a year. If the hardware costs $10 and you sell at $2,000, that's $1,990 profit but you only sold 10 a year so that's $19,900 a year. I don't know about you, but I think making 80% more is better. You can't get away with a maintenance contract for functionality unless that's basically the only cost to be had. $500 a year MIGHT get some people onboard, $250 a year would for sure.

 

[EMF Audio (McMedics)]

^^^ Very well said. The small "reduction" in price that was posted tells you all you need to know. They aren't selling very well, but aren't willing to give up on the business plan the way it is currently written.

All we have to do is wait them out. Either their price will come down, or they will go away and someone else will come in and get it right. Just a matter of time. The fact that this thread lives on even after the outrageous price was made public should be a sign that there is real interest and a market for this.

There are options out there, zero have gotten it right. The first one I contacted quite some time ago was a "PM for price" and they said $15k. After I stopped laughing I told them good luck with that. Anyone that says contact for a price, even a website, I never will because that's the phrase used for "it costs more than you're willing to spend". The moment someone puts out a $500 solution, it will be a complete market blowout that no-one will ever be able to get a fraction of the market share from then on out. The resources are already there to do it, but nobody is.

 

[EMF Audio (McMedics)]

You give me access to MDS for a few hours and I will give you a solution...

Isn't that like, $100/hr?

 

[EMF Audio (McMedics)]

where is that?

I tried looking quickly but couldn't find it. I had it installed but uninstalled it a while ago. I'll see if I can find it again.

 

[EMF Audio (McMedics)]

yep its WPF/.Net, MDS/McLarenEPA/Diagcode is all WPF. but yes you could do it with a UDS logger and interactive access to the any tool. There is people on here that have MDS and so I asked but they dont like sharing... I like sharing.

Maybe one of those people could be inspired. They probably paid way too much for it so they don't want to budge, but making it pay for itself could be some inspiration.

 

[EMF Audio (McMedics)]

Pretty obvious OP is not interested in lowering price or even discuss his mds. The silence is telling and this is just wasted bandwidth now.

The comments of past days are more for everyone else, unless he'd like to learn from the comments and adjust the business model.

 

[EMF Audio (McMedics)]

If OP can get Android app side load feature then charging more (even as much as $3k one time) would make sense since OP is offering something the dealer can't offer. Can you imagine 12C with built-in telemetry, Google Maps and Spotify?

Until then there is not enough differentiation to command a premium. Focus on features members want but can't get from the dealer, and you can justify a premium. OP, there is money waiting to be made.

Things my 12C has: Built in telemetry, Google Maps, and Spotify. That isn't hard to do, it also doesn't give access to what people need access to.

 

[EMF Audio (McMedics)]

Video of it working? Maybe start a new thread?

Been doing it over a year. I installed a smart mirror that is basically a phone, dashcam and, reverse cam. I have IRIS 1 or I'd go deeper making that part of IRIS 2. Thoughy reverse camera is way better than factory.

 

[EMF Audio (McMedics)]

Please do start a separate thread and share what you have created!

It would have to be a "this is what I already did, but this is what I did" video. Less instructional and more informational of what can be done. I didn't document that one at all while I was doing it, I did it February 2019.

 

[EMF Audio (McMedics)]

I'm sure plenty of us would like to see it. Did you keep the IRIS 1 hardware and mirror on the factory screen, or overlay a separate piece of hardware [the phone]?

The IRIS 1 hardware is completely intact, nothing changed. The mirror is a completely separate system. Bluetooth is the only common thing.

 

[EMF Audio (McMedics)]

Sorry, for that amount of money, it is waaaaaay tooo slow for real data logging.
3s between time stamp

And after you don't pay the annual subscription fee, that's all it's good for, after spending thousands of dollars on it the year before.

 

[EMF Audio (McMedics)]

dear Phill570

you are right this function is may bit slow but good we have it and its work perfect .

also as you know we have ONLINE UPDATE to improve our software and We take our customers' feedback into consideration and take care of correcting or developing anything they notice

Thank you for submitting your opinion because it matters to us a lot

Kindest Regards

Younis

For comparison, my $15 logging solution is every second for sure, maybe less, and I don't have a subscription.

 

[EMF Audio (McMedics)]

once someone figures it out, everyone will copy it and this tends to drive costs down.

Right, so do you want to be the leader who's name is associated with it by having a large market share because it's affordable and makes sense? Or, do you want to be another fish in the pond trying to get rich off of 10 people?

 

[EMF Audio (McMedics)]

Hello all friends

I am surprised at the amount of responses that refer only to the issue of price without looking at the effectiveness and the ongoing effort to make the tool serve everyone who wishes to use it.

Spending $2,000 for the first year or spend under $200 to go to a dealer. The tool is effective, the price is not. In 2 years I've had to use the dealer for about $450 worth of service using their tool, which is $3,000 of ownership of your tool. So maybe "effectiveness" isn't the right word to use.

I thank everyone who gave his opinion .. I have already indicated to an important topic that we are not only selling .. The price that is requested to update, for example, is not to update itself, but we also support every user of the tool with technical support, including wiring diagrams .. parts locations .. repairing faults ..

If you don't have the service contract AKA update it, you have the functionality of a $15 tool.