Chapter 5 Market Analysis to Assess the Potential of Breakthrough Technologies

The ability to predict the market potential of product concepts at an early stage is of great importance to many organizations. In terms of Cyclic Innovation Model (CIM), this activity occurs in the lower right part of the cycle. Standard approaches to predict the market potential like concept testing and need assessment, and the assumptions that are required to use these methods will be described in Section 2. A problem is that these assumptions are usually not met in the case of products based on breakthrough technologies. Alternative approaches will be described in Section 3. How market analysis can benefit from using CIM will be discussed in the last section.