Potential market

PART B: valorisation plan

SECTION I: The product

 

1a The innovation potential of this product is related to:

 

  • Technology-driven innovation (under the influence of the development of science – the market is not ready for the product)
  • Market-driven innovation (as a result of market surveys, the market expects the product)
  • Replacement of existing product
  • Product related to cost reduction
  • Radical new product
  • Other, what…
This method could be described as an addition and development of already existing methods for displaying, advertizing and representation. So the market is ready for these types of decisions.

 

 

1b What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
The invention provides better technical characteristics, especially for a moving observer. It gives the possibility for “in depth” acceptance of the provided by the symbols information, no matter the viewing position. This advantage could be very helpful in road information stands, signs, etc. , where the viewing angle is always quite different and constantly changing.

1c What is the Unique Sales Proposition of the potential product?
The main advantage of the proposed method and sign figures for tree-D indication is the ability for the observer to accept the related information directly in full.  The method solves a viewing problem – especially in case of moving observer. The motion complicates reliance on the information, as it protractedly holds the attention of the individual and makes him turn aside, reducing safety of motion. This is quite uncomfortable especially if the face of the sign figure is not perpendicularly located to the direction of motion.

SECTION 2: The Market

 

2a What is the target market for the product?

National Õ

European Õ

Global

Please describe the characteristics of your target market.

The initial efforts must be targeted at the development of the national market. The method could be implemented in various filed – exhibitions, displaying, providing information on spot, etc. With the correctly positioned marketing strategy and gained experience the product could be interesting also for the European customers and companies. Of course there are large number of competitors also providing similar methods.

 

2b How the product is characterized from the following options? Number of companies producing similar products in the field.

• Base – applied by all companies in the industry

• Leading – applied by a single or limited number of competitive companies

• Key –at a development stage, but has already proven its potential

The method is a basic one, applied widely for displaying and visualization.  There are some elements of innovation – the specific liaisons and connections among the symbols, which differs the proposed decision from the others.

 

 

2c What type of market demand will be satisfied?

• Existing demand – the market is already developed

• hidden (latent) demand – the market has yet to be developed

The technical method will serve already existing market demands. The needs for visualization and advertisement of numerous products are continuously rising nowadays.

 

2d What is the current stage of the product’s market life cycle?

• Implementation, implementation in production (leading to a radically new product offers)

• Growth (rapid spread within the industry or outside it)

• maturity (parameters of the technical characteristics of manufactured products reached their maximum, higher-grade products can be manufactured on the basis of technological substitution)

The product is in the third stage – maturity, the method is widely used, with certain variations and amendments to the principle characteristics.

2e Strategic partnerships (existing or potential).
The inventor is looking for a strategic partnership, allowing further development and improvement of the method and sign figures for tree-D indication. However no partnership exists in the moment.

 

SECTION 3: The Competition

3a What is the competition within your target market?
There are many different companies, providing and using similar or analogical methods especially for advertizing and displaying of different types of information, also promoting goods, illustrating various processes and technologies. Each designer’s decision is unique and aimed exactly to the customer’s needs. Winning a marketing share will be a very difficult task.

3b What competitive advantages will the introduction of the new product ensue?

• lower prices based on lower production costs

• product differentiation (uniqueness of the product proposal)

The new method explores well known principles, but in adding specific details. The main advantage of the proposed decision is providing a chance of the observer to perceive all information adequately, no matter the viewing or momentary position of the person.

 

 

3c Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Due to the high level of competition this method should be fixed into mid to low price range.

 

3d Potential products will be marketed:

• To regulated markets (e.g. heat supply, water supply, universal telecommunication services, agricultural products, fishing industry, architectural services)

• To markets operating on the principle of free negotiation between agents on the market

This method could be negotiated exclusively on the free market. It provides specific and custom made technical decision for displaying and visualization for each potential customer.

 

SECTION 4: Indicators

 

Estimated cost of the new products 900 EUR/pc.
Expected market volume (potential / maximum number of users) 400 /year
Expected sales volume Up to € 0,5 mill annually
Expected market share of the company (proportion between sales and total company sales in the relevant market) 5%

 

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