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…
Note: Select and explain for one of above options or (in case of non relevance) define another. We try to identify why this potential product constitutes an innovation offer
 

The innovation potential of this product is related to both technology-driven and market-driven innovation.

 

On one side, indeed, Department of Mathematics and Computer Science of the University of Udine staff’s know how and research experience has allowed to refine the Human-Machine Interaction.

 

On the other side, there is the need to solve the problem of the queues, that occurs in different places like Post Offices, doctor clinics, …. but also supermarkets or shops. Extensive research proves indeed that queuing at the checkout is the number one cause of customer dissatisfaction in retailing.

 

 

 

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
Note: Select and explain for one of above options or (in case of non relevance) define another. We try to identify what new this potential product constitutes in accordance to the existing market status.
The added value for the end-user are the different technical characteristics of the system.

More in detail, the solution consist in an Android application for smartphone that communicates with a broker server using the push technology. The entire system allows the users to stay synchronized with the status of the queues while they can do something else.

 

 

 

 

1c

What is the Unique Sales Proposition of the potential product?
Note: What makes your product unique in marketing terms? This helps your prospects to understand why they should buy from you rather than other existing product options.
 

The application that allows you to avoid wasting time in queues.

 

 

 

 


SECTION 2: The Market

 

 

2a

What is the target market for the product?

National ¨

European ¨

Global þ

Please describe the characteristics of your target market.

Note: Define the market range, the size of the target market (if possible) in terms of maximum product units
 

The application is targeted for a global market.

It is especially addressed to Post Offices, Banks but also to doctor clinics, supermarkets and to the places in which there is the risk of queues.

 

In Italy there are about 14.000 post offices, more than 30.000 bank branches and more than 36.000 among supermarkets, hypermarkets, discounts….

 

 

 

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

Note:
 

The product can be characterized as leading because it’s applied by a limited number of competitive companies/organizations.

But there are more companies investigating or implementing queue management solutions using different methodologies. An example is this real time predictor data made by Irisys (UK), that gives the store managers the advance information needed to open and close checkouts in the most efficient manner.

 

 

 

 

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

Note:
The application satisfies an existing demand of time, coming from the final consumers.

Moreover the system can support the lead clients (post offices, banks, …) in providing a service more efficiently to the final customer.

 

 

 

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)

Note: At this point we refer to the life cycle of the market related to the product. I.e. a product based on a new technology area (e.g. solar energy cars) is considered to be in the first phase of the life cycle when e.g. a typical TV set is in the maturity phase
The current stage of the product’s market life cycle is Growth.

Various queue measurement and management techniques exist. In particular the automatic queue measurement systems use a variety of measurement technologies which predict and measure queue lengths and waiting times and provide management information to help service levels and resource deployment.

A number of the large UK supermarket chains use such systems for service level and resource management.

Moreover the use of Applications on mobile phones is growing.

According to an early 2010 study by ComScore, over 45.5 million people in the United States owned smartphones out of 234 million total subscribers. Despite the large increase in smartphone sales in the last few years, smartphone shipments only made up 20% of total handset shipments as of the first half of 2010.

 

 

 

2e

Strategic partnerships (existing or potential).
Note:
At the moment there aren’t existing partnership for the development of the application.

It should be useful a partnership with a Lead Partner such as Poste Italiane, in order to test the application and a commercial partnership with a pre-printed tickets for queues management producer.

 

 

 

SECTION 3: The Competition

 

3a

What is the competition within your target market?
Note: Refer to other companies producing the same product
There is a limited number of companies that have developed applications for queues management. An example is:

QMatic (Italy):

Thanks to the virtual queues, people can sit in a pleasant environment, or move while they are waiting their turn. An identifier – a number printed on a ticket or sent via SMS on mobile phone – guarantees their place in the virtual queue.

Moreover there are apps provided by web applications builders. An example is:

Queue Manager: an Android Application created with Adobe’s AIR Technology. With Queue Manager you can connect to your Netflix Queue and update your Netflix Queue on the go.

 

 

 

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)

Note:
The introduction of the Android application for queues management in the market will ensue a product differentiation.

The competitive advantage over the competitors is the providing of other useful functionalities, while the user is synchronized with the status of the queue. These functionalities can be for example support in navigation and innovative methods for data entries.

 

 

3c

Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Note:
 

The potential price policy for the R&D result is average price.

 

 

 

 

 

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

Note:
 

The product will been marketed to free markets.

 

 

 

 

 

SECTION 4: Indicators

 

Estimated cost of the new products The application will be sold free or 99 cents
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 encircle as appropriate.

 

 

Added-value potential 1 2 3X 4 5
Size of future market demand 1 2 3X 4 5
Competitive positioning of the product 1 2X 3 4 5

 

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