How do you determine if projects have real market potential ?
Coreyll Boffy, senior Director, Society and Culture
This brief capsule explains, through the identification of the project's value, how to evaluate the different potential marketing avenues using specific tools.
Rather than looking at the marketing potential of a project, what I invite you to do is to think about the value of your project, so try to identify where that value is, who it is for, qualify it, quantify it. And it’s only by doing this that you can evaluate the various potential marketing avenues. So, to try to help you find the value of your project, there are different tools that exist, for example at Laval University, researchers have developed the responsible business model matrix, which allows you to identify your key processes, your key partners, and in general, to identify your value proposition. By doing this exercise, you will find your different market segments and you will be able to evaluate the subsequent marketing potential. Another aspect that I invite you to consider, another tool that I invite you to consider, is the Impact Gaps Canvas that was developed by Daniela Papi with the Skoll Centre for Social Entrepreneurship and on its side, it identifies the desired impacts, and what you need to do to get there. And so by doing that, you’re going to better identify your potential marketing and you’re going to be able to find out who your project is for. Basically, one could find different tools to assess this value and therefore the marketing potential. And my advice to you is, if you have a technology project, is it worth protecting your project before you tell other people? If the intellectual proprerty potential is less strong, I invite you to discuss it with potential co-development partners. These are the people who will help you to really identify these values for your project. If you’re not sure how to approach it yourself, I invite you to talk to the research or commercialization advisors at your research centers and ask the expert who specializes in this area.