5-week Intern-led Online Consultancy: Product-Market Fit Analysis and Market Landscape Exploration – Advanced

Overview

Anyone intending to ‘evaluate the appropriate customer/market segment for an innovative technology/product’ often missed to conduct appropriate due-diligence exercises on ‘how to identify which specific customer value is of most relevance to the chosen market segment or customer profile’ and ‘how to crosscheck pros & cons of existing solutions of other companies in the market, so as to incorporate the market inputs for proposing a minimum viable product (MVP)’.

This Online Consultancy service is meant to empower the Client on the market numbers aspect of new product/technology idea (for consideration of a potential licensing or startup company formation opportunity). So, this service-type will be mainly useful to innovators/researchers and spinout/startup founders who wish to conduct an exploratory exercise of analysing the existing products/companies providing similar/alternative solutions and understanding the relevant Target Addressable Market (TAM) to make a viable commercial product for the chosen customer segment.

The usual market research report (MR) prepared by consultants often merely lists ‘the names of competing companies or products similar to the product/solution offered by the Client’ and ‘some market statistics showing how large the market size is’. Such usual MR reports do not directly correlate to the question of ‘why the chosen customer group would prefer your product over existing products in the market and how to arrive a Target Addressable Market (TAM) number instead of quoting how large the industry’s existing market size (of existing companies) is‘. Thus, the usual MR reports are merely helpful resources for info-purpose only, but not directly usable for the product/solution planning of the client towards creating a market ready product/business.

The unique difference of this 5-week online intern-led consultancy service (to the usual MR report prepared by various MR consultancy companies) is the emphasis on ‘detailed diagnosis of the projected market segments and customer groups currently assumed by the Client’ for subsequent alignment to ‘a likely business model of a similar product in the market’. Thus, this online consultancy service may be considered as a hands-on training exercise of the Client on the market analysis aspect, instead of a merely obtaining a MR report around the Client’s new product/technology.

The delivery of a final consultancy report (comprising a DOC/PDF file and few excel sheets) is achieved through deployment of an intern (having Management/Business academic background, preferably of a PG level student) across a 5-week tenure (by mandating to work, 4hr per week across a total tenure of 5 weeks). The service fee charged to the Client by IP2Impact Limited is mainly for payment to the intern (at the National Living Wage rate) and a little charge to compensate the time spent by a Consultant at IP2Impact Limited on intern supervision/guidance. So, the Client is welcome to propose own preferred intern candidate, or, IP2Impact Limited will identify a suitable candidate for the internship. The Client will be expected to attend 3 catch-up online meetings during the consultation period (i.e. at the beginning, at the mid-way, and the closure). A confidentiality agreement will be signed by the chosen intern for maintaining confidentiality during and beyond the Online Consultancy tenure period.

What You’ll Learn From This Course

• Analysing value propositions and customer segments (with Business Model Canvas) – Inward Looking
• Identifying the most appropriate industry’s landscape and stakeholder ecosystem – Outward Looking
• Identifying few tradeshows (UK/non-UK) to meet target customers, partner organisations and (with online search and LinkedIn search) – Outward Looking
• Compiling a list of UK/non-UK sources of grant funding and investment (with online search) – Outward Looking

Acknowledgment Certification

The Intern will be provided an acknowledgement certificate (PDF copy) of having involved in the Online Consultancy Service (without any disclosure of confidential info on the consultancy report).

Duration

150 minutes [15:00-17:30]