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 innovation potential of the ‘myCerth’ IT system is primarily market-driven innovation, since it comes to fill the gap in the market for similar IT systems that could meet the needs for the management of research projects and generally the needs of a research organization.’myCerth’ does not come to compete with other information systems on the market. On the  contrary, it provides a complementary set of tools and procedures necessary to manage research programs and it serves as an interim platform for communication between the ERP software and end-user.

 

1b What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
‘myCerth’ IT system functions as an intermediate communication platform between the ERP software and end-user and provides to a research Centre or University all the administrative support, that can not be provided by the common ERP packages. At the same time, it enforces the implementation of the corporate operation rules and the user-friendly presentation of all data without having to install any client-side software at the end-user computer. Additionally, it should be taken into account that ‘myCerth’ has been designed and implemented at CERTH, in order to meet the computerization needs of a research center. Thus, the experience and expertise of the design and testing team in management, organization and operation of a research center, combined with the absence of a corresponding software that can meet the needs of research organizations, makes ‘myCerth’ in a very advantageous and competitive software tool.
1c What is the Unique Sales Proposition of the potential product?
The uniqueness of the ‘myCerth’ software tool comprises mainly of the way that it integrates all the administrative and financial transactions in the context of research projects and it does a multilevel control of all these actions.

 

SECTION 2: The Market

2a What is the target market for the product? National ¨European ¨

Global ¨

Please describe the characteristics of your target market.

The target market of the ‘myCerth’ IT system is the universities and research centers around the world. However, initially the target group would be the domestic/national research centers and universities. Today, in Greece operate 12 research centers, 20 research institutes connected with universities, 20 universities and 16 technological institutions.
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

Although there are many ERP systems that have computerized some administrative procedures, none of them is customized for research organizations. However, as it has been said in paragraph 1a, ‘myCerth’ does not come to compete with other information systems on the market. On the contrary, it provides a complementary set of tools and procedures necessary to manage research programs and serves as an interim platform for communication between the ERP software and end-user.
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
‘myCerth’ IT system addresses existing demand, since every research organization needs a software tool that integrates electronically all administrative and financial actions.

 

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 market for ‘myCerth’ (research organizations) can be characterized as mature. However, the need for integrated information management systems for research organizations seems to be more imperative than ever, since the need for transparency and high-principled management of financial resources seem to be prerequisite in the frame of implementation of research projects. This, in parallel with the lack of competitive software tools, settles the market of ‘myCerth’ in the first phase of its life cycle.

 

2e Strategic partnerships (existing or potential).
At this moment, we have a strategic partnership with a company specialized in web solutions, in order to support us with the necessary platform for web development and the connection of ‘myCerth’ with the ERP tools.

 

SECTION 3: The Competition

3a What is the competition within your target market?
Below are listed some of the most common ERP systems available in the Greek market. However, as already mentioned, none of them provide all the necessary modules for administrative and financial procedures of research organizations, that ‘myCerth’ provides.-          SAP-          Atlantis ERP (Altec)

-          Microsoft Dynamics AX

-          Singular Logic Business ERP

 

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 competitive advantages of ‘myCerth’ is that it is a fully customized software tool in the needs of research organizations giving more emphasis in:

  • Rational resource management
  • Standardization of the financial and accounting procedures
  • Establishment of a paperless environment
  • Bureaucracy decrease
  • Diffusion of information in and out of the organization
  • Presentation of in-house research / Diffusion of information
3c Potential products relate to the following price range:• High price range• Average price range

• Low price range

The pricing of ‘myCerth’ software tool would be as follows:

Customer Management of research activities Management of educational activities Management of scientific knowledge Technical support costs (annually)
Research centers (private low) 50.000 - 15.000 20.000
Research centers (public low) 70.000 30.000 15.000 30.000
Technical institutions 50.000 70.000 25.000 20.000
Universities 90.000 70.000 25.000 30.000

 

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
The market of research centers and universities hardly can be characterized as regulated nor a free-negotiation market. It is a market that is partially regulated by the government and partially by the administration of the organization.

 

SECTION 4: Indicators

Estimated cost of the new products  
Expected market volume (potential / maximum number of users) 45 research organizations in Greece
Expected sales volume 19
Expected market share of the company (proportion between sales and total company sales in the relevant market) 40%

 

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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