Potential market

 

SECTION I: The product

1a The innovation potential of this product is related to: Radical new product
It is a Radical new product. There is not similar approach or software with such abilities. The new approach replaces the traditionally used video compression products, used to represent sign language interpretations, based on the standards MPEG and H.264, but offers new representation with higher comprehensibility and very high compression ratio.  The new product is based on new idea, for which were developed special algorithms for extraction of the main objects’ contours and for their lossless compression. Special investigation was performed to evaluate the optimum number of consecutive frames, which should be compressed together.The new approach gives new quality to the sign language interpretations in terms of comprehensibility and accessibility and could be also used in computer games and mobile communications.   

Because of the small size of the contour video sequences, their embedding in distance learning courses is feasible.

1b What added value for end-users does the product hold?
The product offers higher quality and faster access (because of the higher compression) to accompanying learning information represented in sign language in training courses or computer games. Maybe it is better to say, that the new product adds New Quality to the approach for distance learning of hearing impaired.
1c What is the Unique Sales Proposition of the potential product?
There is no direct substitute to this idea.The product is not aimed for general use, but for institutions, who are responsible for the preparation of training courses for hearing impaired. The product will enhance the process of distance learning courses preparation and will make the access of hearing impaired students to such information easier and faster.The product is independent of the interpreted signs (as it is known, the sign language in every country is different).The same product could be used in intelligent computer games for providing additional information about accompanying sounds on request.

Same product could be used by mobile operators as a special service for sending pre-prepared messages to hearing impaired in their natural language even if they can not read or are not in their own country. Such messages are needed for example for announcing some kind of a disaster: floods, fires, or tsunami.

SECTION 2: The Market

2a What is the target market for the product? Global     Please describe the characteristics of your target market.
The target market is for authorities, responsible for preparation of training courses for distance learning of hearing impaired; creators of intelligent computer games; and mobile operators.   
2b How the product is characterized from the following options? Number of companies producing similar products in the field.
The product is not aimed at the regular mass user, but it has high social importance.The product has a hidden market in computer games. At present, computer games do not give information for hearing impaired which to explain some of the accompanying noises. The new software product could be used to provide such information on request. 
2c What type of market demand will be satisfied? hidden (latent) demand – the market has yet to be developed
The market has yet to be developed but this is not the regular marked. The market of the product is aimed at the authorities, responsible for the efficient training of hearing impaired people. Possible additional applications are computer games and mobile communications.
2d What is the current stage of the product’s market life cycle? Implementation, implementation in production (leading to a radically new product offers)
The product is in the stage of implementation in production.The idea needs the creation of 2 different products on same base and for different application areas: the first is aimed at the creation of a basic tool for preparation of learning courses for hearing impaired; the second is for creation a tool for adding information about sounds in computer games.One more possible application is the creation of a tool, similar with the second product, which to be used for mobile services, which to be able to give pre-prepared information for hearing impaired people, for example about some kind of a disaster (tsunami, floods, etc.)
2e Strategic partnerships (existing or potential).
  1. State authorities, responsible for teaching of hearing impaired and for the preparation of distance learning courses.
  2. Creators of computer games
  3. Providers of mobile services

 SECTION 3: The Competition

3a What is the competition within your target market?
There is no product based on similar approach.
3b What competitive advantages will the introduction of the new product ensue?product differentiation (uniqueness of the product proposal)
The product is unique.
3c Potential products relate to the following price range:• High price range
The product is aimed at official authorities, computer game developers and mobile operators. The product has high potential and its development requirest significant knowledge and vast investigations.
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

Both approaches are possible, depending on the application area.
 

SECTION 4: Indicators

Estimated cost of the new products  1500 Euro
Expected market volume (potential / maximum number of users) 2000
Expected sales volume  3000000
Expected market share of the company (proportion between sales and total company sales in the relevant market)  1/2
 

KEYWORDS QUANTITATIVE ASSESSMENT (0-5).

  1 2 3 4 5
Added-value potential                       x  
Size of future market demand       x  
Competitive positioning of the product                 x

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