TY  - CHAP
AB  - Abstract This chapter is designed for use by commercialization teams evaluating the commercial relevance of a new invention. To be relevant commercially, an invention must create value in one or more markets, which involves solving a problem or satisfying customer needs currently unmet. Unmet needs create market opportunities, and the goal is to identify and evaluate the profitability of these opportunities. The chapter provides an overview of concepts and techniques commonly used in the process. Important distinctions between market and industry concepts are introduced along with common rubrics for categorizing inventions in terms of their technological and market implications. These concepts are then used to discuss the roles of prior experience, lead users, and brainstorming in identifying market opportunities for various types of inventions. Techniques covered include market analysis, Porter’s five forces of industry profitability, analysis of political, economic, social, and technical environments (PEST), and the analysis of strengths, weaknesses, opportunities, and threats (SWOT). The use of these techniques is illustrated for two startup commercialization teams.
VL  - 26
SN  - 978-1-78635-238-5, 978-1-78635-237-8/1048-4736
DO  - 10.1108/S1048-473620160000026002
UR  - https://doi.org/10.1108/S1048-473620160000026002
AU  - Thursby Marie C.
AU  - Berbari Margi
PY  - 2016
Y1  - 2016/01/01
TI  - Identifying and Evaluating Market Opportunities
T2  - Technological Innovation: Generating Economic Results
T3  - Advances in the Study of Entrepreneurship, Innovation and Economic Growth
PB  - Emerald Group Publishing Limited
SP  - 33
EP  - 58
Y2  - 2024/04/25
ER  -