Product Development

You will produce a business model FOR INSOLES THAT HARVEST KINETIC

ENERGY INTO A BATTERY AS A PERSON WALKS that demonstrates research

and rationale on the aspects of: business concept development/review,

product/service definition, marketing and business finance issues. You will evaluate

and report the risks associated with your project that are linked specifically to market

and competitors - which is a subset of the risks you will evaluate for your project./nMarket Analysis: - FOCUS ON THIS SECTION (600) WORDS 20%

FOCUS ON GLOBAL MARKET, EU, US AND UK MARKETS

Clearly focused business idea - include here your first Value Proposition Canvas analysis

where you defined the scope of your product, your pain killers and your gain givers. Describe

the key points of your Canvas in your text.

Strong evidence of appropriate market research - show an analysis that reveals who you have

identified as your 'Innovator', 'Early Adopter' and 'Early Majority' customers will be. Who will

you sell your product to ?

Evidence of customer needs analysis - Include here your Reverse Value Proposition Canvas

analyses for each of your key target customer groups: 'Innovator', 'Early Adopter' and 'Early

Majority' customers. Describe the key points of how these groups differ from one another in

your text.

Market strategy and market risk evaluation - how will you market to each of your key target

customer groups? What marketing approaches will you use?

FOR MARKET ANALYSIS KEEP IN MIND THE PRODUCT IS TO BE FIRST RELEASED IN

THE UK,US AND EU BUT ALSO INCLUDE REFERENCE TO CONTINENTS AS WELL

• Competitive Analysis: - FOCUS ON THIS SECTION, WHEN DOING (800) WORDS 30%

FOR INCLUDE RESEARCHED GRAPHS AND TABLES AND FIGURES WITH REFERENCE TO

WHERE YOU GOT THEM FROM E.G COMPANIES WEBSITES REVIEW SITES ETC

Detailed evidence of competitive research, e.g., industry trends. - Discuss industry or market

trends that show your product is needed in the market place, and why? FOCUS ON GLOBAL

TRENDS, TRENDS OF EACH CONTINENT, THEN EU, US AND UK TRENDS

Clearly identified primary competitors-identify your key competitors and competitor products.

Include here your competitor analysis (preferably the Table format), and discuss what is

presented in your table.

SWOT - present your Strengths, Weaknesses, Opportunities and Threats table. Discuss the

key SWOT issues in your text.

Risks associated with competitor products and activity - present a short Risk Analysis focused

on Competitor products and activity. You identify key risks to monitor and develop strategies

to counter competitive threats ?