Market Sector Review: What are the critical drivers for success?
Gain context and insight
The Market Sector Review defines the market context for the technology and, more importantly, the end user. In essence, this process validates the technology in a marketing and competitive context, so it’s an important step for all stakeholders.
Answer the vital questions
An accurate analysis of the market will answer vital questions for IP holders, industry stakeholders and investors, such as:
- What is the target market for this platform?
- How big is the market, and where are the best opportunities for growth?
- What are the key areas of unmet market need?
- What is the optimum competitive position for the technology?
Without clear answers to these questions, it will be much more difficult to attract potential investors and commercial or technology partners. The Market Sector Review also includes Competitor Analysis and Voice of Customer Research.
Know the competitors
In depth insights into the competitive landscape is critical to evaluating the market, for all stakeholders. Corelli Consulting’s comprehensive Competitor Analysis addresses the following points in detail:
- Who are the key players in the market, what is their market share and growth profile?
- Are there any new technologies that may become competitors in the target market?
- What are the limitations of the current and prospective competitors?
- Which are the critical factors that influence competitiveness in the market sector?
- Which are the main challenges to your company’s competitiveness and sustainability?
- How can your technology’s competitive advantages be sustained over the long term?
Gain industry insights
While market and competitive analysis can be done via desk research, Voice of Customer interviews are more effective in gathering intelligence from prospective clients or end users. These interviews, which can be electronic or face-to-face, provide IP holders, industry stakeholders and investors with additional, direct insights into specific market needs and wants. More importantly, the Voice of Customer Research can uncover potential shortcomings as well as additional opportunities for the technology platform, from the perspective of potential end users in the supply chain.
….she developed a deep understanding of our market place, its dynamics and levers…and provided us with an excellent and detailed report covering not only the company’s future and its opportunities in the longer term, but also about the current hurdles we faced executing our short term goals.
What she provided was clear, easily understood and executable.."
Post-consumer Materials Recycler
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