- Is there a market? Who is the target customer?
- Is there competition?
- Is the revenue and margin potential attractive, given the investment?
When an innovative idea requires a new business model, or radically redesigns the delivery of value to focus on the customer, a real world experimentation approach increases the chances of market success. New business models and customer experiences can't be tested through traditional market research methods. Pilot programs for new innovations set the path in stone too early thus increasing the costs of failure.
- Obtain Actionable Market Intellegence
- Determine Patent & Intellectual Property Opportunities
- Identify & Understand Competition
- Identify & Understand Distribution Channels
- Fact-Based Concept Validation for Initial Business Case
- Market & Competitor Analhysis
- Market Channel Identification
- Patent Search results
- Technology Scouting Results