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From Mind to Market A Thinking Process Hans Pietersen 25 October 2006.

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Presentation on theme: "From Mind to Market A Thinking Process Hans Pietersen 25 October 2006."— Presentation transcript:

1 From Mind to Market A Thinking Process Hans Pietersen 25 October 2006

2 Objective Use a simple analogy to develop an easy- to-remember framework with which to enter a market with a product Non-academic: No Boston Matrix, 4 P’s, SWOT analysis, Company Evaluation or investment leveraging, although these are implied.

3 Case Study  The Product: Respisense ® baby breathing monitor  The Company: Infantrust Parenting Solutions  The Process: From Mind to Market ?

4 Case Study  The Product: Respisense ® baby breathing monitor  The Company: Infantrust Parenting Solutions  The Process: From Mind to Market

5 ABC of being successful  Identify a need  Devise a solution  Become rich

6 Analogy The Market = The Target The Product = The Arrow’s Tip The Plan = The Arrow’s Shaft The Vehicle = The Bow

7 The Problem My babies are at risk. How can I protect them?

8 Current State of the Art  Infant breathing monitors  In use for 3 decades  Standard design  Everybody makes them  AngelCare, Tomy, BabySense, Rear, Infantec, Little Sentry, Nanny, etc., etc.

9 But… "The hospital one is large, bulky and has electrodes and leads to contend with, the band that goes round his chest causes skin breakdown and small blisters and the pad one only works well if he stays on it, and he is becoming active so he wiggles off it and it does not, I imagine, feel particularly comfortable lying on a hard surface?!! They all have their problems in their designs.” - Helen E., midwife & mother of Riley

10 The Opportunity  Cannot work with co-sleeping babies  Can hardly work outside a cot  Can be dangerous (strangulation, choking and electrocution hazards)

11 Opportunity large enough?  SIDS (Sudden Infant Death Syndrome, or “Cot Death”) is the leading cause of death in ages 1 to 12 months.  In 1 to 6 months age group, SIDS causes more deaths than all other causes of death combined.  There are no predictors for SIDS, so there is no way to determine an infant’s susceptibility to SIDS or recommend who should be monitored.

12 The Size of the Market  125m babies born per year world-wide  15% of USA babies die of SIDS and SIDS-like events  If we extrapolate: 15% of 125m is  Or one baby every 2 seconds

13 Commercial Opportunity  Market: 125 million babies  Target market: 1.25 million babies (1%)  Market share: 8%

14 Commercial Opportunity  Market: 125 million babies  Target market: 1.25 million babies (1%)  Market share: 8% ( units/year)  Market value: R per annum We have a TARGET

15 Design the arrow’s tip  The product must satisfy the need,  In a unique way,  …and be viable  Question to be answered: If the arrow hits the target, will it penetrate?

16 A mother’s request  Comparable cost  Small & comfortable  Highly portable  Controlled response

17 A mother’s request  Comparable cost can do  Small & comfortable can do  Highly portable can do  Controlled response can do

18 Competitive Advantages  Breathing stimulation (world 1 st )  Perfectly portable (world 1st)  Inherently safe (world 1 st )  No cables, straps or wires  No glued-on sensors  No metal contact  No mains connection  No batteries  No maintenance (world 1 st )

19 Development phase  Birth of an idea – May ‘03  Proof of concept Oct’03  Patent process started Feb ‘04  Miniaturisation Jun’04  New sensing means Jan’05  Integration Jun’05  Refinement Aug’05  Ready Oct’05

20 This little piggy…  Only at this stage can you consider going to market  More importantly, this is where the hard work really starts  …and most projects flounder  Lesson: Don’t make a tip if you can’t build an arrow.

21 Complete the Arrow  Grow tip into a projectile  Close the gap between arrow and target  Build your Business Plan including:  Product-to-Market matching  Market Entry Strategy  Anticipate the Market Response

22 Complete the Arrow  Who will you sell to  How do they select  What are the key criteria  Who can act as intermediary  Who/what influences that market  What are the geographical differences  What to do if things go wrong

23 Complete the Arrow  The Marketing Plan IS the Arrow  Only you can develop it  Change it, chuck it, redo it, expand it, whittle it down, read it, forget it, revisit it, test it, rewrite it, review it; whatever else you do, WRITE IT.  If you can’t, don’t go to market  Last step: Grow into Business Plan

24 Add the Bow  You:  Know the market (where to aim)  Have the product (the tip will penetrate)  Have a plan (aim the arrow)  Now: Build the means to launch  Resources (and the Principle of Pi)  Personal qualities  Support  Network

25 A Business Model

26 Planning is key to success  Failing to plan is planning to fail  Plan must be comprehensive  Marketing is not advertising  Marketing plan is core of business plan  Test your plan – actively search for gaps  The principle of pi

27 Open Discussion Only stupid questions, please – they’re easier to answer “I come in peace. Take me to your leader.”


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