Potential market

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…
The solution has legislative basis, also replacing existing solution.

 

1b What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
The adventure-based learning as a non-mainstream but developing educational wave has quite a high quality. The database connection and analysis would open up new scientific discoveries.

1c What is the Unique Sales Proposition of the potential product?
The Unique Sales Proposition of the potential product will come from the support and the database solution. It provides an integrated, realistic and efficient educational environment which is closer to the mentally handicapped ones and it also takes into account the individual characteristics of each person and adapts the educational procedure accordingly.

 

SECTION 2: The Market

 

2a What is the target market for the product?

National ¨

European ¨

Global X

Please describe the characteristics of your target market.

It is easy to translate the interface into different languages and only the global market has the necessary size and effective demand through different founds like FORD Fund etc.

 

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 proposed system is considered as a key product and is not produced by other companies (with the database).

 

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

Both, existing demand as it replaces a current solution and hidden one as the high potential in database using.

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 currently in implementation phase.

2e Strategic partnerships (existing or potential).
Leading Hungarian Universities like Eötvös Loránd University, Pető Institute.

Dr. Göllesz Viktor Institute for Rehabilitation in Diósjenő – correlation analysis,

State administration (ministries)

Potential – similar as above, also in abroad.

SECTION 3: The Competition

3a What is the competition within your target market?
There is no competition in Hungary, unfortunately mainly because of the lack of the financial support.

Internationally there are some similar solutions, but they are far not as good as they have to be. Software companies, whose main targets are educational solutions or children games, produce it not as a core but as a side product, with a minimal modification of existing one.

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)

Product differentiation – it is a special product for handicapped people; all others are modificated products of healthy people, also based on strong theoretical background.

 

3c Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

High and average, because it is a “good” and unique product.

 

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

Free negotiation, but limited buying potential.

 

 

SECTION 4: Indicators

 

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

 

KEYWORDS QUANTITATIVE ASSESSMENT (0-5).

 

Please put X as appropriate. 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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