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…
 The innovation potential of this product is related to technology-driven innovation. Modern technologies as computers, the Internet, Pocket PCs, GPS and voice recognition software have been used by the development team in order to create Smarteyes.

 

1b What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
 Smarteyes can change visually impaired peoples’ lives. It can provide to them the ability to move around safely, fulfill their daily needs and socialize more easily. In particular it offers:Greater independence: ability to move more on their own.

Ability to quickly become familiar with new routes.

Ability to discover and benefit more from their environment.

Get step-by-step instructions from start to end.

Always know where they are and where they are going on foot or in a vehicle.

Know what is around in their location (public services and businesses).

 

 

1c What is the Unique Sales Proposition of the potential product?
 The Unique Sales Proposition of Smarteyes is that it can be the most complete, technologically advanced navigation tool for people with hard of vision.

 

 

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 the moment the target market for Smarteyes is the Greek one, because the software is in Greek. Once it is translated in other languages, as English, Spanish and German the target market can become global.In the world there are 345 million people who are visually impaired (45 million are blind, 124 million have low vision and 145 million have uncorrected refractive errors) (World Health Organization, 2010; Fight for Sights, 2010). 90% of the world’s visually impaired people live in low income countries.

In Greece the number of blind people paid benefits by the government are about 25.000 (2004 statistic).

 

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

 

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 type of market demand that is aimed is hidden (latent) demand. The market has yet to be developed. The means for its development is advertising the product in people with hard of vision. In most cases the final customer will be not the person with the hard of vision himself, but the cost will be covered by the national health system.

 

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 current stage of the product’s market life cycle is growth.

 

2e Strategic partnerships (existing or potential).
 There have been strategic partnerships with 3 companies in order to develop the devices used in the pilots study. These companies were Microsoft, Cosmote and Geomatics.

 

 

SECTION 3: The Competition

 

3a What is the competition within your target market?
 Since Smarteyes was firstly developed, a number of competing products appeared in the market. These are the following:1. LOADSTONE GPS

Free satellite navigation software developed for Symbian Mobile/phones using the Series60 platform. Although Loadstone-GPS is a useful navigational tool for everyone, it is particularly useful for blind and visually impaired people using screen readers such as Talks (TM) (a Nuance product) and Mobile Speak (TM) (a Code Factory product).

2. MOBILE GEO

 

Mobile Geo is Code Factory’s GPS navigation software for Windows Mobile-based Smartphones and Pocket PCs. Powered by GPS and mapping technology from the Sendero Group, Mobile Geo is specifically designed to serve as a navigation aid for people with a visual impairment which works with a wide range of mainstream mobile devices. Although it is a separately licensed product, Mobile Geo is seamlessly integrated with Mobile Speak for Windows Mobile. With Mobile Geo, a visually impaired person can pinpoint his location, learn about the points of interest (POIs) in his immediate vicinity, plan a route between specified points of origin and destination, and get instructions on manoeuvres about waypoints along a route that he is following.

(Price: 788 $ or 567 € with the current interest rate)

 

3. TREKKER BREEZE

Trekker Breeze is made by HumanWare. It is a system that uses GPS and digital maps to help visually impaired people to find their way in urban and rural areas. The Trekker Breeze handheld talking GPS can be controlled by one hand, it verbally announces names of streets, intersections and landmarks as the user walks. When the user is in a vehicle, it announces all intersections. A wide variety of maps are available covering most Western countries. Maps can be ordered by phone or email and delivered by download (FTP), Compact Disk or Compact Flash cards.

(Price: 929 $ or 668 € with the current interest rate)

 

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 advantages of Smarteyes are both lower price and better quality, as more high tech features are added. These are voice recognition, vocal orientation, user friendly interface,  navigation in closed spaces, electronic compass, tours in archeological sites and museums.

 

3c Potential products relate to the following price range:• High price range• Average price range

• Low price range

 Potential products relate to the average price range.

 

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
 Potential products will be marketed both to regulated markets, as well as in markets operating on the principle of free negotiation between agents and the market.

SECTION 4: Indicators

 

Estimated cost of the new products 250
Expected market volume (potential / maximum number of users) The maximum number of potential users is 15.000
Expected sales volume Year 1: 200Year 2: 500

Year 3: 800

Year 4: 1000

Year 5: 1200

Expected market share of the company (proportion between sales and total company sales in the relevant market) 80%

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