This is the last of a series of six posts to share with you important lessons we’ve learned through our experiences working with numerous commercial clients in a variety of situations. On the path to your success in developing and commercializing technologies, they will help you avoid common pitfalls, unwarranted assumptions, and other sources of technical and commercial bias that could add up to business failures.
Lesson Six.
View Your Assessment as an Integrated Set of Findings to Establish Your Basis of Competition
Technical and market elements of a technology assessment should be considered together to determine the attractiveness and viability of candidate technologies within the realities of target addressable markets.
Lesson Six Case Study:
Client: Global Chemicals and Materials Company
Situation:
- Develop and introduce new products based on its proprietary nonwovens materials technologies, already successful in apparel insulation applications
Technology Assessment Need: Develop and characterize the potential “product/market” roadmap that could be addressed by the client’s non-woven materials technologies
Our approach:
- Identified acoustic (noise reduction) applications as promising high volume opportunity
- Researched primary and secondary performance needs across an array of acoustic applications in commercial and industrial markets
- Considering research findings holistically, identified and rank-ordered market opportunities which client could uniquely fill with its materials and technologies
Outcome: Acoustic applications with flame retardant functionality were identified as a segment in which our client could establish a basis of competition over other market participants. We segmented the market by level of flame and smoke performance requirements.
By understanding the market size of each applications and the associated flame/smoke performance requirements, our client could make sound judgments regarding the return on investment needed to develop application-specific non-woven products. In effect, the result was an array of short-, medium-, and long-range opportunities in acoustic applications.
For more on best practices in moving from lab-to-market, see https://www.prakteka.com/category/technology-assessment/
__________________________________
Are you looking for new customers for your existing technologies and products?
Do you have excess manufacturing capacity you’d like to put to use?
Or are you launching a new product and need to understand which end-use applications are the most promising?
We’re ready and able to help you make your decisions with confidence. Contact us at https://www.prakteka.com/contact-us/
or via direct email at mah@prakteka.com
The Online Gazette... 