Potential market

PART B: valorisation plan

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 PRIME project has been developed considering a specific need related to the preservation and conservation of multimedia installations. It aims at building a framework to realize a digital preservation of highly-interactive multimedia works. The project is addressing a specific archival need not yet available for multimedia operas.

 

 

 

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
The project will permit to replicate installations (also old installations) and make them available for the large public, for the researchers and the students, collecting a repository of artworks that has never been available before.

 

 

 

 

1c

What is the Unique Sales Proposition of the potential product?
Replicating installations would call for more exhibitions, therefore more public, and more cultural circulation, with direct and indirect economic income and a predictable positive impact on the arts.

Preserving should mean providing researchers, students and all citizens with reliable material for studies in the Humanities and Science, collecting a repository of artworks that has never been available before.

 

 

 

 

SECTION 2: The Market

 

 

2a

What is the target market for the product?

National ¨

European ¨

Global ý

Please describe the characteristics of your target market.

The product is targeting a global market represented by multimedia installations and artworks from all over the world.

 

 

 

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

PRIME is not yet a product but it’s still in a project phase.

A group of researchers is now working on the repository of some artworks, in collaboration with other European Countries. The repository work is in continuous development, there is in particular the need of funding to continue it.

 

 

 

 

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 product is not addressing a mass market. It’s a addressing a specific cultural need to have at disposal also multimedia artworks and make them available during the years as all others cultural goods (as pictures, books etc.).

At the moment only small local archives are available, but they are not linked each other and are not completed.

 

 

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)

Multimedia artworks have a short lifecycle due to the fact that digital supports can easily be ruined and consequently there are difficulties in preserving the contents of the installations. There is the need to complete the work quickly and to sensitize the public administrations and foundations towards this problem in a very short period.

 

 

 

 

 

2e

Strategic partnerships (existing or potential).
A strategic important partner at institutional level should be considered and addressed (i.e. the Ministry for Cultural Goods).

Currently, the research team is targeting also Foundations, i.e. Biennale di Venezia.

Those categories are also representing the main target groups.

 

 

 

 

 

SECTION 3: The Competition

 

3a

What is the competition within your target market?
At the moment, no competitors have been identified in Italy and nor in Europe.

Some small multimedia archives exist, but they are not complete and neither linked each other.

 

 

 

 

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 product seems to be unique in its proposal.

Costs for production can be considered low, related mainly to staff costs (researchers) and to the availability of musical materials to be used as test-bed.

 

 

 

3c

Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

The product is related to a low price range as already explained.

 

 

 

 

 

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 product, if linked to the Ministry or in general to the public sector, at Italian level could be marketed also to regulated markets. But, in general it will be marketed to markets operating on the principle of free negotiation.

 

 

 

 

SECTION 4: Indicators

 

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

 

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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