“Does your product meet a clear market demand or solve a

problem?”

Innovation SPACE™ Technology Commercialization Model Phase 1 : CONCEPT

Stage 1 : DISCOVERYStep 2 : MARKET NEEDS ANALYSIS

The Technology Commercialisation Model

SCIENCE & TECHNOLOGY MARKET ENTERPRISE / BUSINESS

CONCEPT PHASE

STAGE 1 : DISCOVERY Step 1 Technology Analysis

Step 2Market Needs Analysis

Step 3Venture Assessment

CREATION PHASE

STAGE 2 : DO-ABILITY Step 4Technical Feasibility

Step 5Market Study

Step 6Economic Feasibility

STAGE 3 : DESIGN Step 7Engineering Prototype /

Pilot Plant

Step 8Strategic Marketing Plan

Step 9Strategic Business Plan

STAGE 4 : DEPLOYMENT Step 10Pre-production Prototype

Step 11Market Validation

Step 12Business Start-Up

COMMERCIAL PHASE

STAGE 5 : DELIVERY Step 13Production

Step 14Sales & Distribution

Step 15Business Growth

STAGE 6 : DOMINATION Step 16Production Support

Step 17Market Diversification

Step 18Business Maturity

Step 2: Market Needs Analysis Does this product meet a clear market demand or solve a problem? • Assuming all things are still positive, the next

step is to investigate a marketing concept for the product. This step is called the Market Needs Analysis. The questions are straightforward and simple: who will buy the product, how many will they buy, and how much will they pay? Discovering this information is not as simple as asking the questions. At this level of analysis, the information comes primarily from secondary sources such as trade journals, periodicals, existing market studies and electronic data. The permissible margin for error at this level is large. This activity is designed more to qualify the market opportunity than quantify it at this point in the process. The purpose here is to develop a level of confidence about the marketability of the product.

• Definition: The process of determining whether the concept demonstrates superior ability over current solutions to meet a market need.

• Objective: The objective of a market needs assessment is to identify a potential market for the concept, estimate the market size and determine a preliminary value of the product.

• Product: The product of this step is a short summary of information from trade journals, data bases, and interviews which follows the marketing section of a standard business plan format.

• Marketing Activities: The marketing activities common to this step are those necessary to demonstrate that the product is unique and sustainable in a competitive marketplace.

• During the conceptual phase the following activities must be completed:

• • Identify three unique features or benefits of the product;• Identify the competition;• Establish customer requirements for the product;• Identify potential market barriers;• Identify market distribution channels;• Identify product pricing criteria

• Milestones: Background research materials

• Funding Sources: Personal finances, Family and friends

• Marketing Information: Completion of the conceptual marketing step will usually result in a rationale of why the product will receive a positive market response, gross estimates of the market and its segmentation, a simple explanation of how the product will be marketed, and an estimated price for the product.

• Key Questions :

• Have you assessed the needs of the market?Do you know the product uniqueness?Do you know the product competition?Do you know the customer requirements?Have you identified the barriers to market entry?Have you identified distribution channels?Do you know the pricing criteria?

KEY QUESTIONS1. Have you assessed the needs of the market?2. Do you know the product uniqueness?3. Do you know the product competition?4. Do you know the customer requirements?5. Have you identified distribution channels?6. Do you know the pricing criteria?7. Have you identified the barriers to market entry?

WHAT IS A MARKET SEGMENT? WHO IS THE

CUSTOMER?

Demographic Grouping and Buying Behaviour

MARKET SEGMENT : GENERATIONAL

•GEN ALPHA (2011 - )•GEN Z (iGen)(1995 – 2010)•MILLENNIALS (GEN whY?)

(1979-1994)•GEN X (1964-1978)• BABY BOOMERS (1946-1964)• SILENT GENERATION /

TRADITIONALISTS (1925-1945)

Average Ages & Generations

MARKET SEGMENT : LIFESTYLE1. DINGO : Double Income Not Going

Out (Saver) 2. DINKY : Double Income No Kids Yet3. DITCHED : Dual Income, Two or

more CHildren, Expanding Debts4. MUPPIE : Middle-aged Urban

Professional5. OINKY : One Income No Kids Yet6. ORCHID : One Recent Child Heavily

In Debt7. GLAM : Greying Leisurely Affluent

Married

8. GOFER : Genial Old Fellow/Female Enjoying Retirement

9. HENRY : High Earner Not Rich Yet10. KIPPERS : Kid in Parents Pockets

Eroding Retirement Savings11. LOHAS : Lifestyle of Health And

Sustainability12. SINBAD : Single Income No Boyfriend

And Desperate13. SITCOM : Single Income Two Children

Oppressive Mortgage14. YUPPIE : Young, Upwardly mobile

Professional

My Reasons to Own a car

Choices•Past Experience•Present Relationship

(Emotional Attachment)• Future Dream

(Expectations)

Determinants•Affordability•Pleasure•Practical•Status Symbol•Latest Technology

AFFORDABILITY

PLEASURE

PRACTICAL

STATUS SYMBOL

LATEST TECHNOLOGY

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

5

3

5

3

1

3

4

4

4

2

2

5

3

5

5

DETERMINANTS ON CAR CHOICES

PAST EXPERIENCE PRESENT RELATIONSHIP FUTURE DREAM

PRODUCT PROMISES : Car Ownership

1. Building Cars People First2. It’s in the Drive!3. The Power of Dreams4. All about the drive.5. Innovation that excites6. Passion for life7. Driving matters

8. Go further.9. Drive@earth10.The best or nothing.11.The Ultimate Driving

Machine12.New thinking New

Possibilities13.The power to surprise

0 1 2 3 4 5 6 7 8 9 10

0

1

2

3

4

5

6

7

8

9

10

CAR OWNERSHIP : MALAYSIA

DEPENDABLE - PASSIONATE

CLAS

SIC

- IN

NO

VATI

ON

PAS-SION

INNOVATIVE

CONVENTIONAL

DEPENDABLE

PERCEPTUAL MAP : INNOVATIVE VS PASSION

0 1 2 3 4 5 6 7 8 9 10

0

1

2

3

4

5

6

7

8

9

10

Perodua

Proton

Honda

Toyota

Nissan Renault Mazda

Isuzu Ford

Mitsubishi Mercedes

BMW

HyundaiKia

CAR OWNERSHIP : MALAYSIA 2015 (591,298 new cars)

DEPENDABLE - PASSIONATE

CLAS

SIC

- IN

NO

VATI

ON

PAS-SION

INNOVATIVE

CONVENTIONAL

DEPENDABLE

PERCEPTUAL MAP : INNOVATIVE VS PASSION

PRODUCT PROMISES : Car OwnershipBRANDS1. Perodua2. Proton3. Honda4. Toyota5. Nissan / Renault6. Mazda7. Isuzu / Ford8. Mitsubishi9. Mercedes10. BMW11. Hyundai12. Kia

PROMISES1. Building Cars People First2. It’s in the Drive!3. The Power of Dreams4. All about the drive.5. Innovation that excites / Passion for life6. Driving matters7. Go further.8. Drive@earth9. The best or nothing.10. The Ultimate Driving Machine11. New thinking New Possibilities12. The power to surprise

WHAT ARE THE NEEDS OF YOUR CUSTOMER?

Hierarchy of Needs of Individuals and Organisations

Maslow Hierarchy of Needs1.Self-actualization2.Esteem3.Love/Belonging4.Safety5.Physiological

PROMISES, PROMISES

CONSUMER1. “Think different”2. “Do the Right Thing”3. “Taste the Feeling”4. “Be What’s Next”5. “Let’s Go Places”6. “Imagine the Possibilities”7. “i’m lovin’ it”8. “and you’re done.”

B2B1. “Do the Right Thing”2. “Be What’s Next”3. “Think.”4. “Let’s Go Places”5. “Imagine the Possibilities”6. “Imagination at work”

Organisation Hierarchy of Needs1. Brand. The brand describes a promise to stakeholders. The brand is

more than the collection of products or services offered by the company. The brand encompasses an emotional value, an aspiration, and the public face of a business strategy. The brand can be viewed as a person, product, organization, and symbol for the company.

2. Strategic Corporate Stakeholder Relations. Organizations seek strategic relationships to achieve a desired reputation, create a defensible competitive advantage, and influence preferential behaviors in the value chain. Tools include positioning strategy, design thinking, CSR and innovation programs.

3. Operational Efficiency Operational efficiency priorities focus on reducing costs, improving existing performance, and optimizing existing landscapes. Operational efficiency is also know as bottom line priorities.

4. Regulatory Compliance. Regulatory compliance is a base need. Organizations must comply with legal requirements. In addition, organizations may want to avoid legal suits, causing injury, or failing to meet a commitment.

5. Revenue and Cashflow Growth. Revenue growth reflects the initiatives used to drive new customers, revenues, and market share and increased cashflow generation to ensure the survival of the organization. Revenue growth is also known as top line priorities.

Brand

Strategic Corporate

Stakeholder Relations

Operational Efficiency

Regulatory Compliance

Revenue and Cashflow Growth

MARKET SEGMENTATION : B2B• DEMOGRAPHIC

• Industries range• Company size• Geographic Locations

• OPERATING VARIABLES• Customer Technologies• User or non-user status / Level of usage• Customer capabilities / Level of service

support needed • SITUATIONAL FACTORS

• Urgency• Specific or all applications• Size of order

• PURCHASING APPROACHES• Centralized or decentralized purchasing

function in organization• Power structure of decision-makers

(engineering/finance)• Nature of existing relationships• General purchasing policies

(leasing/service contract/system purchases/tenders)

• Purchasing criteria (quality/ service/ price)• PERSONAL CHARACTERISTICS

• Buyer-seller similarity (People/values)• Attitude towards risk• Loyalty level to suppliers

GLOBAL BRANDS

THE MARKETING MIX 4+Ppl

Understanding interactions with the customer

Select your Supermarket Product

PRODUCT COMPETITORS

COMPLEMENTORS

SUBSTITUTES

BRANDS SELECTED BRAND COMPETITOR 1 COMPETITOR 2 (SUBSTITUTE)

COMPETITOR 3 (COMPLEMENTOR)

MARKETING MIX(1=Disadvantage, 2=No difference,

3=Superior Advantage to competitors)

1. PRODUCT : promise, packaging, ingredients

2. PRICE : Value for money, discounts, bundling offers3. PROMOTION : On pack offers, in-store advertising, newspaper ad, social media, website4. PLACE : Availability, convenience of outlets, online store5. PEOPLE : Store customer service, Helpline, Email support

TOTAL SCORE (x/15)

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10CONSUMER BRANDS@SUPERMAKET

MARKET SHARE

COM

PETI

TIVE

ADV

ANTA

GES

MARKET LEADERS

CHALLENGERS

COMPLEMENTORS

LAGGARDS

COMPETITOR ANALYSIS : SUPERMARKET WARS

Consumption at 10x speed …

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