4 Stage 1: Validation of Market Opportunity Objectives Validation of Customer RequirementsRequirements as perceived by customer?Are alternative options adequate?Measurement of Market Readinessevidence of market acceptance?evidence of change from current solutions?It this an early adopter market?Competitive AnalysisAccess to cost effective distribution?
5 Stage 1: Validation of Market Opportunity Methodology Primary and Secondary ResearchInterviews with Qualified Prospects and Industry experts.Sample of adequate sizeSecondary Research focus on sector v global information.Questionnaire / Information Requirementsclearly defined / relevantSkills Requiredassistance of experienced sales and marketing specialists
10 Stage 3: Detailed Market Segment Analysis Objectivesto further validate the market opportunity;develop a ‘Value Proposition’identify potential reference sites;information required for Sales and Marketing plan.Methodology: interviews with qualified prospects in each market segmentSkills Requiredassistance of experienced Sales, Market Research / Business Planning specialists
12 Stage 4: Develop a Customer Value Proposition Required for effective messagingSkills Requiredassistance of an experienced sales specialist
13 Stage 5: Validation of Sales and Marketing Plan
14 Stage 5: Sales and Marketing Plan Pricing ModelSelling processSales projections
15 Stage 5: Sales and Marketing Plan Pricing Model Determine pricing model by:benchmarking against similar products;customer testing.Skills Requiredexperienced sales specialist
16 Stage 5: Sales and Marketing Plan Selling Process Defining the processmethod and cost of lead generation;prospect conversion ratesconversion lead times.Selling Costscost of achieving an average sale for each target market segment.Skills Requiredexperienced sales specialist
17 Stage 5: Sales and Marketing Plan Sales Forecasts completed for the first three years of operation;provided by value and by number of units for each Target Market Segment;supported by prospecting, lead time, conversion and costing schedules.
19 Stage 6: Market Testing Process Skills Required Commence initial selling to develop as sales pipeline.Establish reference customersReview the sales and marketing plan based on the outcome of the initial sales activity.Skills RequiredSales and Marketing Team