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…
Market-driven innovation, the need for such technology has risen before the research has started.

 

 

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
More information about environmental noise, in a new way of analysis and illustration.

 

 

 

 

 

1c

What is the Unique Sales Proposition of the potential product?
This kind of solution is a unique technology today, regarding to the novelty assessment.

The market seems to be open to the product, regarding to the preliminary market research.

The product is planned to be sold on a project base.

 

 

 

SECTION 2: The Market

 

 

2a

What is the target market for the product?

National ¨

European ¨

Global ¨

Please describe the characteristics of your target market.

European in the first phase, and if the product is successful, than global.

 

 

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

Key –at a development stage, but has already proven its potential

The product will be developed and introduced to the market through a spin-off company.

 

 

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

The R&D project was started on an existing market demand, therefore the product has a good potential on the market. Furthermore, the product has multiple independent markets, as the construction industry, the execution of European Noise Directive and the transportation management. The innovation can have a separate product-life on each of these markets, and there are still possible markets to be found.

 

 

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 innovation is the extension of the capability of current technologies, it realizes new services, but on the bases of existing technologies.

 

 

 

 

 

2e

Strategic partnerships (existing or potential).
Budapest University of Technology and Economics will be the part-owner of the company that introduces the innovation to the market. We also have partnership with a major international consultant company: Mott MacDonald, and with a company providing monitoring services: SolData (part of Vinci group).

 

 

 

 

SECTION 3: The Competition

 

3a

What is the competition within your target market?
However the developed technology is unique, the most of practical problems can be solved – even if not completely, and sometimes less cost-efficiently – with the existing (tested and well know) technologies.

 

 

 

 

 

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)

Unique services that provide cost-efficient and impressive solutions for practical probems.

 

 

 

 

 

 

3c

Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Low price range with long-term contracts.

 

 

 

 

 

 

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 is operated on the principle of free negotiation, and it is highly effected by the EU and state public procurement.

 

 

 

 

 

SECTION 4: Indicators

The following values are based on the funding assessment of the first 5 years (see section 4)

Estimated cost of the new products 30 000 HUF
Expected market volume (potential / maximum number of users) 50 000 pcs.
Expected sales volume 2300 pcs.
Expected market share of the company (proportion between sales and total company sales in the relevant market) 5%

 

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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