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…
Technology-driven innovation

 

 

 

 

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
 

Better technical characteristics

 

 

 

 

1c

What is the Unique Sales Proposition of the potential product?
This innovation is an adaptive, self-learning system which provides personalized information to the user.

 

 

 

 

 

 

 

 

SECTION 2: The Market

 

 

2a

What is the target market for the product?

National ¨

European x¨

Global ¨

Please describe the characteristics of your target market.

The target market will depend on the appearance of the product. It can be either a hand held “gadget” or a downloadable software using on a lap-top but other options are also conceivable.

 

 

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

There is no base of comparison.

 

 

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

It depends from the way of utilization of the innovation.

 

 

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 exploitation of the scientific activity is broad and detailed but the product development is still missing.

 

 

2e

Strategic partnerships (existing or potential).
They have no strategic partners yet, but they would involve experts of programming and other subjects too.

 

 

 

SECTION 3: The Competition

 

3a

What is the competition within your target market?
Now it is too early to scope any target markets of the possible ones.

 

 

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)

Uniqueness of the product proposal.

 

 

3c

Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

There is no base for comparison.

 

 

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

Free market

 

 

 

SECTION 4: Indicators

 

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

 

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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