for the project was adequately used and provided a favorable outcome for Outline of Part B. the company. Company information including: Include your vision for the future in the and long run. How will you Corporate objectives grow/maintain a sustainable business entity? Will you meet critical Core competencies management functions as your company evolves? Present size, products/services with significant sales C) Market, Customer and Competition History of previous Federal and Federal funding Market size is defined by annual sales of products that address a Regulatory experience market’s particular need. But one has to be specific about what the How the company plans to market’s needs are. If applicable, when considering the market you are develop from a small technology targeting, break it into primary, secondary and tertiary customer bases. R&D business to a successful This will help you to describe the target market segments and size while commercial entity providing a brief profile of the potential customers. Points of Emphasis When identifying these markets, it is useful to ask the questions why target Know your market and market these markets, what are the benefits and what data and studies would needs support this conclusion. Statistical data that shows the potential market Identify main customer bases size, market trends in the area and potential profits from capturing a Know your competition percentage of the market may be of use. Look into what similar competition has done and For Example, 10% penetration into a $2B market results in annual amount of the total market they sales of $200M. If a $2B market is growing at 10% a year and your are attracting product can capture 50% of new patients, then first-year sales Reiterate the need for the product and address your competitive would be $100M, followed by $210M in the second year, $330 in advantage the third and so on. Consider if collaboration/ partnering is strategically for Overestimating market penetration is a common mistake. Take into you and if so explain why consideration whether or not it is easy to gain market shares in a mature, Describe your market and sales slow growing market. Look at how competitors penetrated into the strategy same or similar markets.
for the project was adequately used and provided a favorable outcome for the company. Include your vision for the future in the and long run. How will you grow/maintain a sustainable business entity? Will you meet critical management functions as your company evolves? C) Market, Customer and Competition Market size is defined by annual sales of products that address a market’s particular need. But one has to be specific about what the market’s needs are. If applicable, when considering the market you are targeting, break it into primary, secondary and tertiary customer bases. This will help you to describe the target market segments and size while providing a brief profile of the potential customers. When identifying these markets, it is useful to ask the questions why target these markets, what are the benefits and what data and studies would support this conclusion. Statistical data that shows the potential market size, market trends in the area and potential profits from capturing a percentage of the market may be of use. For Example, 10% penetration into a $2B market results in annual sales of $200M. If a $2B market is growing at 10% a year and your product can capture 50% of new patients, then first-year sales would be $100M, followed by $210M in the second year, $330 in the third and so on. Overestimating market penetration is a common mistake. Take into consideration whether or not it is easy to gain market shares in a mature, slow growing market. Look at how competitors penetrated into the same or similar markets. Outline of Part B. Company information including: Corporate objectives Core competencies Present size, products/services with significant sales History of previous Federal and Federal funding Regulatory experience How the company plans to develop from a small technology R&D business to a successful commercial entity Points of Emphasis Know your market and market needs Identify main customer bases Know your competition Look into what similar competition has done and amount of the total market they are attracting Reiterate the need for the product and address your competitive advantage Consider if collaboration/ partnering is strategically for you and if so explain why Describe your market and sales strategy
Commercialization-Plan_clean.docx