Potential market

 

SECTION I: The product

1a The innovation potential of this product is related to: Radical new product 
The R&D result is a Radical new product, because there is no similar product existing.The R&D result exploits the similarities between a group of images of same object and in result is obtained significant enhancement of the compression efficiency. This new approach permits the compressed image data to be transferred layer by layer and to be stopped in earlier point, if the needed image quality is obtained.
1b What added value for end-users does the product hold
Better technical characteristics
Better technical characteristics The R&D result ensures higher compression ratio than that, obtained using the famous compression standards JPEG and JPEG2000, for same image quality. The processing is performed for a group of images together.
1c What is the Unique Sales Proposition of the potential product?
The product permits a group of images of same object(s) to be processed together, getting in result higher compression ratio and retained image quality.

 

SECTION 2: The Market

2a What is the target market for the product? GlobalPlease describe the characteristics of your target market.
The market range is aimed at specific applications: satellite images, multispectral images, sequences of medical images.
2b How the product is characterized from the following options? Number of companies producing similar products in the field. Leading – applied by a single or limited number of competitive companies
Similar products are developed by leading companies in the world only. 
2c What type of market demand will be satisfied? – both:• Existing demand – the market is already developed• hidden (latent) demand – the market has yet to be developed
There should be used the existing market in part, because the archiving of satellite images always requires significant resources;The hidden market is for medical applications – images of scanners; images which are used to compare the development of tumors, etc.  
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 implementation part of the cycle.
2e Strategic partnerships (existing or potential).
Not available
 

SECTION 3: The Competition

3a What is the competition within your target market?
There are no similar products.Companies, which develop products for image compression (but not for compression of groups of images), are the biggest only. Such products are: Corel Photo paint; Microsoft photo Editor; LuraSmart Compress.
3b What competitive advantages will the introduction of the new product ensue? product differentiation (uniqueness of the product proposal)
The expected price should be lower than that of the similar products, and besides, the product is unique.
3c Potential products relate to the following price range:• Average price range
The product belongs to Average and High price range (depending on the application area)
3d Potential products will be marketed: To markets operating on the principle of free negotiation between agents on the market
The potential product will be aimed at markets operating on the principle of free negotiation between agents on the marketSpecial application – for satellite and medical images

 

SECTION 4: Indicators

Estimated cost of the new products 400 Euro
Expected market volume (potential / maximum number of users) 3000
Expected sales volume 1200000
Expected market share of the company (proportion between sales and total company sales in the relevant market) 1/3

 

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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