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- and market-driven innovation. Modern technologies as computers, Internet, affective computing, human-computer interaction and avatars have been used by the development team in order to create this system.

 

1b What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
In case of supported education (teacher, learning material, scheduler etc.) it helps understanding, and without support with creative commons licence it can be a game too. So it provides higher quality and better technical characteristics to the end-users.

1c What is the Unique Sales Proposition of the potential product?
No such an economic product in Hungary, it is a brand new one. (It enables easy monitoring and analysis of the learning process, thereby enhancing and normalizing the educational procedures toward each person’s needs)

On the international market there are similar products, but the theoretical base of those is much more simplified than this one’s (only games).

 

SECTION 2: The Market

 

2a What is the target market for the product?

National ¨

European ¨

Global X

Please describe the characteristics of your target market.

It is easy to translate the interface into different languages and only the global market has the necessary size and effective demand.

 

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

The proposed system is considered as a key product and is not produced by other 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

Hidden – possibility of abstract thinking.

Existing – constant need to understand the work of larger economy.

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)

End of implementation phase, beginning of growth.

2e Strategic partnerships (existing or potential).
Large international financial analyst company, National Ministry of Economy, a big international audit company.

Universities: Eötvös Loránd University, Budapest University of Technology and Economics, Budapest University of Economic Sciences and Public Administration, Göttingen University, Oxford University, ENS.

Several Hungarian high schools.

SECTION 3: The Competition

3a What is the competition within your target market?
On narrow market it is unique, on broad market there are competitors, but this product is much more consistanant and sellable than others (possible network of users, strong theoretical background etc.)

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)

Product differentiation – it is a special product based on strong theoretical background.

 

3c Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

High and average, because it is a “good” and unique product.

 

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 negotiation, but limited buying potential.

 

 

 

 

 

 

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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