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…
Note: Select and explain for one of above options or (in case of non relevance) define another. We try to identify why this potential product constitutes an innovation offer
 

The innovation potential of this product is mainly related to market-driven innovation.

 

The idea indeed traces its origins from the proposers passion for melting’pots of cultures, gastronomy, new technology and travels.

More in general, in the last few years, the great public have been appreciating the pleasures of the good table like never before, having discovered the authentic and genuine tastes of local, traditional dishes.

 

 

 

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
Note: Select and explain for one of above options or (in case of non relevance) define another. We try to identify what new this potential product constitutes in accordance to the existing market status.
 

The added value of the Platform for the end-user is the opportunity to meet and share contents about products, recipes and cultures from different countries.

 

In this way the user will be able to find all the information he/she needs about a culture, a recipe, an ingredient, ….

This platform will be an online gastronomy encyclopedia but at the same time, an online community focused on the art of food eating.

 

 

 

 

 

1c

What is the Unique Sales Proposition of the potential product?
Note: What makes your product unique in marketing terms? This helps your prospects to understand why they should buy from you rather than other existing product options.
 

The platform for people who want to discover the secrets of gastronomy

 

 

 

 


SECTION 2: The Market

 

 

2a

What is the target market for the product?

National ¨

European ¨

Global þ

Please describe the characteristics of your target market.

Note: Define the market range, the size of the target market (if possible) in terms of maximum product units
 

The Platform is targeted for a global market and it is primarily directed to food producers who want to advertise their product and to web users that need information regarding food, products, ingredients,….

The effort of the platform inventors is to create content and encourages readers to share it and to interact with one another and build relationships.

 

 

 

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

Note:
 

The R&D result can be characterized as leading considering its offer, because it’s applied by a limited number of companies in the gastronomy industry. It could be characterized as base if we consider the implementation of a web 2.0 platform.

 

 

 

 

 

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

Note:
 

The product satisfies an existing demand of information about gastronomy and the need to share it.

 

 

 

 

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)

Note: At this point we refer to the life cycle of the market related to the product. I.e. a product based on a new technology area (e.g. solar energy cars) is considered to be in the first phase of the life cycle when e.g. a typical TV set is in the maturity phase
The current stage of the R&D result’s market life cycle is Maturity.

It is indeed essentially a 2.0 web portal.

Web 2.0 sites allow users to interact and collaborate with each other in a social media dialogue as creators of user-generated content in a virtual community.

Compared with the existing portals about gastronomy, the R&D result allows the fruition of different and integrated services.

 

 

 

2e

Strategic partnerships (existing or potential).
Note:
 

At the moment there are not existing partnerships for the platform’s development.

However, it could be useful a partnership with Slow Food Association, who is linking the pleasure of good food with a commitment to its community and the environment.

 

 

 

SECTION 3: The Competition

 

3a

What is the competition within your target market?
Note: Refer to other companies producing the same product
There is a limited number of projects or companies that develop a complex platform about Gastronomy.

Many websites promotes recipes but few platforms offer integrated services like contents and information about cultures, food, products and at the same time community,

The most similar projects seem to be:

Epicurious.com – website dedicated to recipes, cooking, drinking, entertaining, and restaurants; it is one of the most prominent and notable websites of its kind

Gourmondo – the gastronomy social network

Other similar projects dedicated to a specific geographical gastronomy are:

Keldelice – a technical and social platform which allows people to discover and share about French gastronomy patrimony through products, growers and events.

Gastronomy food club – In order to find same spirit in diverse culture, Gastronomy club envisions to bring together a blend of different cultures through Indian Cuisines on a common platform.

Other portals dedicated to food are:

Foodnetwork.com

Bbcgoodfood.com

Chow.com

Kebuono.com

Facecook.com

Foodspotting.com

 

 

 

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)

Note:
The introduction of the R&D result in the market will ensue a product differentiation.

The competitive advantage over the competitor projects is the use of an integrated kind of 2.0 services.

 

3c

Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Note:
 

There is not a  defined pricing policy.

 

 

 

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

Note:
 

The R&D result will been marketed to free markets.

 

 

 

 

SECTION 4: Indicators

 

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

 

KEYWORDS QUANTITATIVE ASSESSMENT (0-5).

Please encircle as appropriate.

 

 

Added-value potential 1 2X 3 4 5
Size of future market demand 1 2 X3 4 5
Competitive positioning of the product 1 2 X3 4 5

 

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