Market Opportunity Assessments for New Technologies
Our service provides a new tool to identify and assess the attractiveness of a business opportunity by assessing the technological advantage of the new technology. It is a part of the business planning or strategy processes by analyzing the market from a technological standpoint and provide another viewpoint from which to help make a case for your decisions. Some new business, no matter how well intentioned, should not be the vehicle for entering the marketplace. Sometimes it is better for the team to be formed such that they have the ability and expertise to License their technology and/or know-how to third parties. Companies such as Dolby have generated up to 78% of their revenues from licensing. It can be a very viable option and one that requires serious consideration in the overall planning of the opportunity.
In addition, we will alert you if we should find something we would consider above and beyond normal considerations such as an exceptional opportunity we may discover during our market and technical research. We provide detailed analysis from the technology or know-how point of view to give a more balanced approach to forming a successful project.
We help find winning solutions from our in-depth research in:
Competitive strengths and weaknesses must also be considered when selecting market targets. No company wants to enter market segments that are saturated with competitors. More often than not, the success of a new venture depends on finding market segments where the company can develop a competitive edge. We handle this area with extreme care and verify all our sources.
Market opportunity assessment involves researching, analyzing and identifying the key factors of information. This is both the available information - called secondary market research, and new, created information called primary market research. These are the basis upon which to make the strategic and tactical market validation decisions.
The major elements are:
Core Competency of the Company
Core competency of the venture is central to identifying the succession of solutions (not just the current product) to be developed for the most attractive markets in the years ahead. For example, Honda’s core competency is the ‘combustion engine’, which it deploys into solutions for a number of target markets such as the automobile market, the lawnmower market, the motorbike market and most recently the aviation jet market. In identifying your business's core competency, we ask, "What is central to your success?"
The generic market need that is served by the business, the specific product type market categories within which your business will compete directly against other brands in that category and the other related product type market categories, which are a source of indirect competition.
Market Requirements of Customer
Competitive strengths and weaknesses must also be considered when selecting market targets. No company wants to enter market segments that are saturated with competitors. More often than not, the success of a new venture depends on finding market segments where the company can develop a competitive edge.
Highlights of our insights:
Management will need guidelines on how to deal with key competitors in each target segment. The strengths of competitors must be matched or exceeded and weaknesses must be scrutinized for possible ways to create differential advantages.
Top 10 causes of new business/new product failure:
We uncover market opportunities and marketing challenges. Our market research yields solid, factual, defensible information that is directly relevant to your specific needs. We combine quantitative market research (statistical analysis, graphs, and charts) and qualitative market research (interviews, articles, opinions) to give you a balanced and accurate picture. Our experts synthesize information from syndicated reports, secondary data, primary research studies, social media intelligence, industry experts, internal data and other sources to provide a complete picture of your market. Our approach ensures that every data point and inference go through multiple validations while leveraging a variety of sources to formulate market and opportunity size.
The better the information you have, the greater chance you have of outperforming your competitors. Our service helps our clients identify and understand current and potential markets – including competition, customers, and industry conditions.
The Technology Resource of the Southeast, Inc.
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Johnson City, TN 37604
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