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Market Analysis

Markets and Commercialization


Workshop

2-3 h

10-15

Market Analysis

This workshop is designed to support RDI project teams in understanding the market dynamics crucial for the successful commercialization of their innovations or Key Exploitable Results (KERs).

The purpose of this workshop is to support RDI teams in understanding the overall market environment, including size, growth, segmentation, and trends for their innovations or Key Exploitable Results (KERs). The workshop focuses on broader market dynamics, trends, and segmentation. This sets the stage for understanding the overall market environment. By using dedicated canvas, participants will analyse the market size, segmentation, and trends. This analysis will help in developing robust business ideas or business cases for the commercial exploitation of their innovations.

In this workshop, you will

  • Create understanding of the overall market environment relevant for your innovation, including size, growth, segmentation, and trends.
  • Develop strategic insights to position your innovation effectively in the market.

Project/TRI representatives and diverse stakeholders and partners already familiar with the theme from academia and industry (e.g. business development professionals, marketing teams, innovation managers). Ensure a mix of perspectives, expertise, and roles within each sector.​ Works best with a group of 10-15 participants.

  1. Pre-Workshop Preparation by the Facilitator
    • Gather Initial Data: gather the most recent and relevant data for each section of the canvas. This includes market size, growth rates, key trends, etc.
    • Fill Preliminary Canvas: Populate the Market Analysis Canvas with the gathered data. Ensure each section has substantial information to provide a solid foundation for the participants.
    • Validate Information: Cross-check the data with multiple sources to ensure accuracy and reliability.
  2. Organise a workshop of about 2 – 3 hours with the necessary participants.   ​
  3. Group work: Market Analysis Canvas:
    • Divide participants into small groups (4-6 people per group)
    • Briefly explain each component of the market analysis:
      • Market Size and Growth: estimate the size of the market and its potential for growth
      • Market Segmentation: Identify and define different segments within the market
      • Market Trends and Dynamics: Analyse current trends and dynamics in the market.
    • Each group reviews and discusses the pre-filled Market Analysis Canvas, focusing on the factors relevant to their specific RDI project
    • Groups validate the pre-filled information and gather additional data.
    • Encourage critical thinking and discussion within groups to interpret the data.
    • Groups refine and complete their sections of the canvases based on the additional insights gathered.
  4. Presentation of Findings
    • Each group presents their Market Analysis and refined findings to the whole workshop.
    • Allow time for questions and feedback from other participants to discuss and challenge the insights.​

 

  • Integrate the findings from the Market Analysis into a comprehensive view. Develop business ideas or create a business case for the commercial exploitation of the innovations or KERs, leveraging the integrated analysis. Focus on how these strategies can leverage opportunities and mitigate threats to maximize commercial success.
  • Compile the Market Analysis and business ideas/cases developed by each group into a comprehensive report.
  • Distribute the report to all participants for future reference.
  • Encourage each RDI project team to develop a detailed action plan for commercialization based on their Market Analysis.
  • Schedule a follow-up workshop to focus on Competitive Analysis.
  • Participants will create insights into market opportunities and potential barriers affecting their commercial exploitation efforts.
  • The Market Analysis will enable more informed and strategic decision-making for business idea or business case creation.
  1. Clear Communication:
    • ​Clearly communicate workshop objectives and agenda.​
  2. Facilitator Expertise:
    • If possible, employ a skilled facilitator with business development experience.​
  3. Time Management:
    • Allocate sufficient time for each workshop step.​
  4. Capture Insights:
    • Document key insights of the discussion. This can prove useful in the follow-up work.