Potential market

SECTION I: The product

 

1a

The innovation potential of this product is related to:

  1. Technology-driven innovation (under the influence of the development of science – the market is not ready for the product)
  2. Market-driven innovation (as a result of market surveys, the market expects the product)
  3. Replacement of existing product
  4. Product related to cost reduction
  5. Radical new product
  6. Other, what…
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), replacement of existing product and product related to cost reductionThis research result originates from the analysis of the existing system with the improvement of its weaknesses and deficiencies by finding a technical solution of the existing problems. The higher coefficient of efficiency shows also that the innovation potential of this product is related to cost reduction. 

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
The added value for the end-users of this product holds higher quality and better technical characteristics 

 

1c

What is the Unique Sales Proposition of the potential product?
The Unique Sales Proposition of the product is long term high effectiveness of the system in comparison with the existing traditional systems which is losing the characteristic after a period of use.

 

SECTION 2: The Market

 

2a

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

Global ×

Please describe the characteristics of your target market.

At this moment the product has been already putted on the national market and the next target is the European market but also there some initial negotiations with USA and China.

 

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

Leading – applied by a single or limited number of competitive companies. There a number of competitive companies making the similar product, but the ultrasonic welding makes this company the only producer of this product with those characteristic.

 

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
Existing demand – the market is already developed

  

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)

Implementation, implementation in production (leading to a radically new product offers)

 

2e

Strategic partnerships (existing or potential).
There is existing partnership with the company that is producing the final result of the research CAMEL SOLAR. The strategic partnerships that are most needed at this moment are in the field of marketing and commercialization of the product on new markets.

 

SECTION 3: The Competition

 

3a

What is the competition within your target market?
All existing producers are direct competition but the strategy of the innovator is to win the market with the improved technical characteristic of the product, better design and the higher coefficient of efficiency that gives added value for the end-users of this product. 

 

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)
Lower prices based on lower production costs.The main focus on the research result is to reach the lowest cost per KW/h per m2. 

 

3c

Potential products relate to the following price range:• High price range• Average price

• Low price range

Average price range with the higher coefficient of efficiency and cheaper usage of KW/h per unit 

 

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
To markets operating on the principle of free negotiation between agents on the market. These product can be seen somewhere in the middle of those two strategies because the purpose of the product is the use of the non-conventional energy resources as a heat supply, but since this is still not strictly regulated market in Macedonia the second strategy of free negotiation is more convenient.

 

 

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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