Posted: December 7th, 2014

Innovation Market Opportunity Analysis for google in autonomous vehicle

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Innovation Market Opportunity Analysis for google in autonomous vehicle

All the resources should be from the internet NO BOOKS

The subject is about Strategic and Innovation: this report consists of two parts
1. Subject report to be about the Google autonomous vehicle 2500 words.
2. The presentation report (generate the presentation reports for each slide in the way that what I am going to say). 500 words.

Innovation Market Opportunity Analysis for google in autonomous vehicle

All the resources should be from the internet NO BOOKS

The subject is about Strategic and Innovation: this report consists of two parts
1.    Subject report to be about the Google autonomous vehicle 2500 words.
2.    The presentation report (generate the presentation reports for each slide in the way that what I am going to say). 500 words.

1.    The Initial Assignment
To start the innovation project, students will learn how to tell the difference between a good idea in a casual conversation and a great scalable business opportunity. In this exercise, you will identify and define a market opportunity and present the opportunity in a report. Each student will create a ‘market opportunity assessment’ proposal in which you will analyses and describe your innovation opportunity. Proposals will be posted on the class website and open to ‘review’ among our fellow innovation funding students. Venture capital will be allocated among proposals reflecting market confidence in the innovation idea.
This project is not intended to be a business plan for an innovation idea, but rather an investigation of the feasibility of an idea and viability of commercializing it. As such, your project should reflect an understanding of the core concepts that you have been taught in this course. It should also reflect a concerted analysis on your part to investigate the idea proposed.

Key Deliverables
You should identify an innovative business venture (new business, product or service) opportunity from the Fast Company innovation website and perform an initial analysis to understand whether, why and how your opportunity can be turned into a scalable business. In your written analysis, you should tell the “story” of your proposed innovation by addressing as much of the following as possible and appropriate to your specific innovation concept:
Concept and Vision. Where did your idea come from (e.g., a new technology, another market)? Explain what the market opportunity is and what your solution might be. What makes your solution particularly compelling? How does it make meaning and the world a better place? Do you have personal experiences with this market? Is there existing intellectual property that you must license or new intellectual property you must develop in order to pursue this opportunity? Has anyone tried something like this before? If so, why did they fail or succeed, and why is the opportunity still attractive?
Market Analysis. What industry or sector of the economy are you addressing? Why is this market attractive? What segment of the overall market are you pursuing? What market research data can be gathered to describe this market need? What are the total industry or category sales over the past three years? What is the anticipated growth for this industry? If this is a new market, what is the best analogous market data that illustrates the opportunity? Project the potential market size and growth for your opportunity.
Customers and Customer Development. This is extremely important. You need to have a clear idea of who your target customer is. The only way for you to be able to do this is to “get out of the building” and speak with your potential customers. You will need to answer questions such as: What does the customer need? Why does the customer need it? What is the customer using today? What is the customer willing to pay for your solution? Why? How will you reach this customer? You should include both primary (or first-hand) research and secondary research, emphasizing primary over secondary.
Competition and Positioning. Who else serves this customer need? Who might attempt to serve this market in the future? What advantages and weaknesses do these competitors and would-be competitors have? What share of the market do specific competitors serve? Are the major competitors’ sales growing, declining, or steady? What are the barriers to entry for you? What are the barriers to entry for additional competitors? How could partners and allies best help you overcome competition from established enterprises or other start-ups?
Business Model and Go-to-Market Philosophy. Now that you have discovered an opportunity and talked to potential customers, how will you turn it into a viability business opportunity? How will you make money and when do you expect your innovation to be profitable? What is the major risk to address right away (e.g., market or technical)? In other words, which hypothesis regarding product or market strategies needs to be tested right away?

The list above has no implied order. Some innovation champions start with a well-defined concept and then try to identify a market for their idea; others start by studying a market and then stumble upon an idea. Also, please keep in mind that the specific data and information you provide will vary according to the type of opportunity you choose to analyses and the nature of organization sponsoring it.

I recommend five basic steps in the process of analysing an opportunity:

•    Identify potential opportunities. Combine your own personal experiences and creativity with external forecasts and trend analysis. How is the world changing with respect to new technologies? What is the impact of globalization on current solutions? What new requirements will those changes produce? Recent media articles and blogs on trends are often a good place to start.
•    Define your purpose and objectives. Identify your most promising opportunity, being careful to discriminate between an interesting technological idea and a viable market opportunity. Prepare an outline which will help you to determine what types of data and information you need to demonstrate the attractiveness of your chosen opportunity.
•    Gather data from primary sources. It is crucial for you to obtain data from primary sources. Potential champions will place more trust in well conducted primary research than in stacks of data from secondary sources. There is simply no substitute for talking to potential customers from the target market in order to validate the opportunity you have identified. Consequently, we prefer that you spend time gathering data from primary, not just secondary, sources.
•    Gather data from secondary sources. Countless secondary sources exist on the web and in the HCT’s various library resources. Try not to get too bogged down in financial and accounting data.
•    Analyse and interpret the results. Persuasively summarize your results.

A key success factor for a successful project is the depth of your analysis and what you learned from it. If after careful research you have determined that your business idea is not as promising as you originally thought, it is totally acceptable to present a MOA that describes why your idea may make sense now in the short term but not necessarily be the next big thing. An honest, rigorous analysis of an idea that does not survive further scrutiny is preferable to either (a) a half-baked presentation of an idea you are unsure of, or (b) an enthusiastic job of over selling for your current idea, even though you know it is problematic.
Proposal submissions should be ‘clear and concise’ … ‘purposeful and persuasive’. Be sure to sell the story with conviction.

2.    Presentation: The Elevator Pitch
Only generate the slides report as follow
Presentation and proposal
This is the ‘elevator pitch’. With the support of five PowerPoint slides, each entrepreneur will pitch their venture to the class. Entrepreneurs will have 10 minutes to give the pitch, followed by 5 minutes of Q&A. Each Chief Innovation Officer / venture capitalist (peers) will then score each of the other pitches. The criteria will be according to the clarity of the concept pitch, its innovativeness and its hypothetical feasibility for success.
The class sessions will help you get started in writing your proposal and positioning statement. Complete Geoff Moore’s two-sentence positioning template for your innovative product or service concept. The template is:
?    Sentence #1
For (target customer)
Who (statement of the need or opportunity),
The (product/service name) is a (product/service category)
That (statement of benefit).
?    Sentence #2
Unlike (primary competitive alternative),
Our product (statement of primary differentiation).

To aid your presentation, create 5 PowerPoint slides report:

• The opening slide report should define the core concept and key deliverables.
• One slide should ‘bring to life’ your positioning statement as above.
• A third slide should summarize the value proposition for your target customers.
• A fourth slide should highlight the sustainable competitive advantage your venture possesses in developing and delivering this innovative proposition.
• The last slide should define how this concept adds value to the firm.

Remember … PowerPoint slides are an aid to presentation; not the focus. Use visual aids to support your presentation rather than drive it.
Innovation Market Opportunity Analysis Questions for Consideration
The following outline and related sub-questions are intended to stimulate your thinking about your proposed high potential innovation market opportunity project. Over the next several weeks, you should be conducting secondary research in order to address these and other relevant questions. The purpose of this exercise is to allow you to reach a preliminary conclusion as to the viability of your proposed venture. You should gather as much secondary research data as necessary in order to support your market assumptions and conclusions. At the end of this course, you should be able to assess the market viability of this business concept. Your final paper and presentation should be organized to address each of these issues. (As if I am going to convince the firm board member to go for this business)

Concept
•    How do you define and describe the nature of this business opportunity?
•    What is the business model that could be developed to pursue your identified opportunity, one that best suits the high potential market opportunity you have identified?
•    What are the pros and cons of the potential business model?
•    What will be your possible sources of revenue streams?

Opportunity
•    What are the key trends and driving forces that lead you to believe that this is an attractive opportunity?
•    What evidence can you provide of the existence of these trends and how these trends point to innovation opportunities? To the extent possible, develop evidence from your own primary research efforts.

Product or Service Offering
•    What is your proposed product or service offerings?
•    What technology (if applicable) will your product or service be based?
•    What kinds of competitive advantages do you believe you can establish in the market?

Customers
•    Who will buy your products or services?
•    What is the value proposition to your targeted customers?
•    How will your products or services meet customer needs by addressing the value proposition?
•    How many customers might there be for these products or services?
•    Is this market base of customers growing, stable or declining?
•    Can you identify who your potential first five customers might be?

Volume
•    How many units of the product or service do you think you could sell per year?
•    What type of margin can you derive from the sale of a typical unit of business?
•    How did you arrive at that estimate?
•    In rough terms, what kind of share of your target market do you think you could command?

Competitors
•    How are your target customers currently getting their needs met?
•    Who else has recognized similar opportunities and has formed business entities to pursue the market?
•    Can you describe the business models employed by major competitors in this space?
•    How saturated is this market with existing competition?
•    What do you think might be the key competing technologies or services?
•    Do you expect some competitor might be coming out with a product or service like your own in the near future?
•    What is your overall assessment of the competitive landscape and why do you believe that you can compete in this market?

Entry Barriers
•    What will be the key challenges and hurdles you must overcome in order to pursue your market opportunity?
•    After forming your business entity, what barriers or hurdles can you erect to protect your market position?

Next Steps
•    Assuming that you are going to be pursing this opportunity, which key assumptions must be tested over the first 6 months?
•    Which key assumptions then must be tested over the next 6 months?
•    What actions steps should you plan on taking over these two 6-month time intervals?
•    How do these action steps represent a plan for testing your key assumptions and learning about the business and market?

Overall Market Opportunity Assessment
What is your overall assessment of your identified market opportunity? Is it viable? Why or why not?

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