Evaluating technologies and their market potential is necessary to improve investment decisions, opportunities for growth, and realistic ROI scenarios. Ideally, these functions should be performed prior to and in parallel with technology development activities. Our Technology Evaluation programs involve one or more of the following activities:
- Reviews your technology idea(s), technology or new product(s) in development
- Conducts a brief situational analysis based on client provided info on company background, existing products, core-competencies, target markets, successes, failures, etc.
- Performs initial quantitative research on possible applications, target markets and overall business opportunity
- Analyzes both technical and business dynamics within a SWOT analysis – strengths, weaknesses, opportunities & threats
- Develops formal questionnaire/survey and conducts qualitative analysis through in-depth interviews with key industry decision makers and potential beta users
- Ascertains “needs vs wants”, customer buy decision, product performance requirements, price points, interest level, and other key technical and business dynamics
- Identifies potential prototype beta site users and eventual lead prospective customers
- Clarifies the “fuzzy front end” of technology commercialization and new product development enabling you to make investment and strategic decisions with more confidence
- Summarizes all key data, findings and recommendations in a project review meeting
TekMark has completed technology & market evaluations for numerous clients, each one tailored to specific requirements and budget levels. Although these projects can be conducted within a wide range of breadth and depth, to provide adequate insight to support improved decision making, a program generally costs between $8 – 10k for each technology/product and market combination analysis.