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…
 New technology for traditional milk fat dairy product is innovation which helps to get fife and high quality product. Currently, all these products on the market are produced on the traditional production manner which has some risk steps and results in products with great variations in quality.  
1b What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
Produce safe and high and standardize quality product with sensory properties like to traditionally made product. Developed production procedure allows getting product with at an affordable price. Remaining milk after this production, due to increased safety level has a great potential for production of various dairy products, which enormously increase traditional milk fat dairy product production efficiency when compared to traditional production procedure. 

 

1c What is the Unique Sales Proposition of the potential product?
Detailed comment

Safe and high quality and standardized product with long shelf life has higher value than traditional made product. Better utilization of remaining milk increases the production efficiency. 

SECTION 2: The Market 
2a What is the target market for the product?

National X¨

European X¨

Global X¨

Please describe the characteristics of your target market.

Select and comment

Major market will be countries of western Balkans and particular regions of global market with population of Serbian emigration in Europe and overseas countries.

 

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

Detailed comment

There are a few of small dairy plants, usually crafts that are producing milk fat dairy product based on traditional method. Currently, there is no company which produces this dairy product based on the proposed modern technological production procedure.

 

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

Detailed comment

Existing demand, but also there is potential to spread market on local and international level.

 

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)

Detailed comment

Currently, market exists, but the consumption is limited due to non standardized product (traditional milk fat dairy product) obtained in small craft dairy plants.

 

2e Strategic partnerships (existing or potential).
Detailed comment

Existing partnership: So far, there are a few dairy plants that are interested in application of the new technology for traditional milk fat dairy product, as well as one company, equipment producer working on designing of machinery for this production. 

Potential partnership: All dairy plants could be strategic partners in implementation of the proposed procedure. Also, for further implementation it is recommended to extend partnerships with other companies for specific dairy equipment production.

SECTION 3: The Competition 

3a What is the competition within your target market?
Detailed comment

Traditional production of this milk fat dairy product is a competition within market, but traditional product characterizes substantial safety risks and uneven product quality.   

 

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)

Detailed comment

Safe and high quality product with affordable price, as well as better utilization of reminding milk. 

 

3c Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Detailed comment

Average price range for better quality and saving on better remaining milk utilization. 

 

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

Detailed comment

To regulated market (Agricultural products, Dairy plants and industry) 

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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