1. ECE362 Principles of Design
Market Analysis
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2. Development Grant = $$$
Product Development
Product Idea
Product
Specifications
Test Plan
Stage 1 – Product Idea, Product Specifications, &
Test Plan
Intellectual
Property
Technical
Model
Business
Model
Stage 2 – Intellectual Property, Technical & Business Models
Market
Analysis
Project
Management
Scheduling
Stage 3 – Mkt Analysis,
Project Management, &
Scheduling
Stage 4 – Budget,
Social Impact &
Proposal Completion
Budget &
Resources
Social
Impact
Personnel
Qualifications
Development Grant = $$$
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3. Market Research Who has a real need for the thing I want to sell?
How many potential customers are there?
How much are they spending for that need now?
How much would they be willing to spend?
Does my product meet that need in a manner that either saves or makes them substantial amounts of money?
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4. Market Overview How big is the potential market?
Is the market growing, flat, or shrinking?
What changes do you see happening?
Is the market segmented by pricing, quality, age, income, or product usage?
Who is your target audience?
Who are your competitors?
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5. The Market Market Analysis Market Segmentation Strengths Weaknesses
Competition
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6. Market Analysis Websites
OSU Market Research
Learn That
MarketResearch.com
NCIIA Student Entrepreneur Guide
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7. Billy Bass Proper Marketing can sell anything! Inside the fish
Inside the plaque
I couldn’t resist -- Billy can be altered to say whatever you want!
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8. Assignments
TEAM ASSIGNMENT – 2nd Draft PDS of Team Project due Thursday, December 18.
TEAM ASSIGNMENT – Annotated IP search for Team Project due Friday, December 19.
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