5. The market and competition
This involves studying the target market to determine its accessibility, the size of the market, its segments, its evolution, its attractions, the advantages that the innovation can bring over competitors, whose strengths and weaknesses also need to be analyzed. This study should make it possible to estimate the economic prospects, or the market shares to be conquered.
The three pillars of market research (supply, demand and environment) must be analyzed with the utmost care.
5.1 Targeting markets
The innovation project owner must ensure that his project is commercially feasible. The aim of market research is to obtain as much information as possible about the business sector.
The aim is to provide answers to...
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The market and competition
Task organization and project budget
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