Need and Opportunity Analysis
Your Single-Source Commercialization Partner
How do you determine if there is sufficient demand for your medical device or consumer health product in the real world?
How do you know if you are solving the right problem?
Simbex begins by describing the pain-points and consequences unaddressed by the innovation
Step 1: Establish the Need for a Solution:
What is the basic need? This is the essential problem, stated clearly and concisely. It is important at this stage to focus on the need that’s at the heart of the problem instead of jumping to a solution. Defining the scope is also important.
STEP 2: What is the desired outcome?
Answering this question requires understanding the perspectives of customers and other beneficiaries. This question should be addressed qualitatively and quantitatively whenever possible. A high-level but specific goal, such as “improving fuel efficiency to 100 mpg by 2020,” can be helpful at this stage.
STEP 3: Who stands to benefit and why?
Answering this question compels an organization to identify all potential customers and beneficiaries. If the problem you want to solve is industrywide, it’s crucial to understand why the market has failed to address it.
Step 4: Contextualize the Problem
Examining past efforts to find a solution can save time and resources and generate highly innovative thinking. If the problem is industrywide, it’s crucial to understand why the market has failed to address it. The aim here is to find solutions that might already exist in your organization and identify those that it has disproved. By answering this question, you can avoid reinventing the wheel or going down a dead end