Assessment and Market Validation of Business Opportunity

MarketValidation service, an implementation of ISIS' MarketDiscovery, is designed to provide cost-effective assessment and development direction for a new technology, business or product concept with up to four different potential application areas. MarketValidation provides the critical market information needed by R&D and Business Development teams to advance their projects, and can be used to increase the efficiency and effectiveness of in-house, stage-gate, business development processes.

Central to MarketValidation's value is the nature of the information source. Unlike traditional market research, ISIS accesses a unique market Panel consisting of Industry Opinion Leaders (IOLs) for whom the technology and its potential applications are most relevant.

IOL companies are innovative market leaders, with a history of early adoption of new technology. They may be domestic or international. IOLs themselves are typically senior level people in these companies with significant responsibility for business growth, and they have the influence to commit their organizations to "doing something new." Industry Opinion Leaders participate in MarketValidation in the service of their companies' own interests… securing the chance to be first to offer new products based on new technology.

MarketValidation is an implementation of MarketDiscovery methodology and is always customized to meet specific client objectives.

Here are typical work steps:

Pre-Planning: Under nondisclosure agreement, the client provides ISIS selected internal reports describing the technology, business or product concept.

Planning Workshop: Two senior ISIS professionals meet with the client team for 1-2 days to define, in writing, overall Objectives and Business Opportunity Criteria to guide the program.

Contact Documentation: ISIS prepares a technology synopsis for initial IOL contact and a Technology Briefing Paper to enable in-depth IOL discussions. Both are approved by client before use.

Market Intelligence Phase: ISIS contacts IOLs within the Objectives and Business Criteria framework, examining such issues as: product property profiles that address market needs; value in-use versus competitive alternatives; price sensitivities and volume. The client's identity remains confidential. A mid-Intelligence phase phone review is provided for additional client input.

Analysis/Reporting: Results are analyzed, documented and presented along with recommendations at a review meeting at the client's offices. Orderly transition of the ISIS/IOL relationships is made to the client where appropriate.

Timing: MarketValidation duration is 8-10 consecutive weeks. Service fees are dependent upon the number of applications, client objectives, market scope and geographical diversity.

 

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