Template for Report

Introduction of the Idea

Instead of streetlights vehicles can transition to the use of some green glowing lines that lights the boundaries of roads similar to a landing airstrip during the night which can best be categorized as the future of the highway (Stinson, 2014). In that, the project is the striving vision of changing impassive infrastructure with innovative roads that create a direct communication with roads drivers directly. As the vehicles become more innovative then the infrastructure should getter smarter to support such developments. The road sector has remained to be among the most conservative industries for decades with less innovation taking place not because it is not possible but based on hesitation that is fueled by uncertainties. The glowing lines will not only facilitate better grounds for infrastructural innovation but also result in cost and energy saving.

Background of Work

Market or Technology Pull

The glowing lines product is market pull opportunity. In this context, the glowing lines are a market pull rather than a technology push product because they are based on solving the energy and cost issues in the market. It is evident that it is through market research that the issues have been identified which therefore shows that the product has been created based on the existing demands in the market. In that technology, push can best be described as the situation where research and development with respect to the new form of technology lead to the rise of new products (Fischer, 2011). On the other hand, market pull describes the necessity of a fresh product to be part of a solution to the existing problems as experienced in the marketplace in general. This need is established through relying on market research. In that with the development of technology and the need to utilize more energy and cost efficient products the roads infrastructure is not an exception (Fischer, 2011). Consumers and the automobiles companies are mainly focused on more fuel and cost-saving products and this should be supported by the roads that the vehicles utilize.

The problem that is related to replacing streetlights with luminescent lines has evolved from the market. In that, the government spends too much in supporting and maintaining the lights. As communities spend much on electricity the application of green lighting lines can act an innovative solution to the issue that will lead to saving money, conserving the environment and reducing the number of accidents on the roads during foggy days.

How have you worked on the idea?

The idea was mainly worked on through the use of research design and trend analysis and available statistics in the sector. In that, the research design was accomplished through the utilization of personas and consumers journey in order to identify the need for the products. Based on the existing statistics it was established that maintaining streetlights is expensive and energy consuming which affects individuals financially.

Market Analysis

The general target consumers for the products are government and the public. In that, they are the most affected by the rising costs in regard to the maintenance of streetlights. In addition, the solution cannot be adopted without engaging the government as the primary funder while the public is involved in funding and the use of roads. The potential competitors include the companies that are involved in the development of solar fueled lights and electric lights both on the national and global market. This is because the market is comprised of some of the most established companies.

Novelty – Roger’s Model

Based on the originality of the innovation the diffusion will be a rapid one. In that, the product will begin to be adopted by innovators who are individuals interested in technology adoption first based on their interest with regard to having fresh thoughts. In that this categories those that are highly willing to take given risks even though little has been done to lure them (Sideridis, 2010). On the other hand, the early adopters are those that mainly embrace any transformative roles and need no information to be convinced. On the other hand, early adopters will not embrace the ideas prior to the average individuals given that they are interested in getting evidence to understand that the technology is operational and they are mainly appealed by successful reviews. The late majority only seek to embrace ideas after being tried by most individuals and need to understand how the adoption was done and the associated success. For laggards, this group is made of conservative persons and are not easy to lure as they wait for the adoption and the resulting statistics for review (Mlecnik, 2013).

Possible Business Model

Mission

The main objective of the business is to generate profit. In that, based on research the business has proved to be a feasible one that is fully supported by technology and innovation. However, in order to be established in the market, more promotion should be conducted to increase sales and in turn generate more profit.

Revenue Stream

Money will mainly be generated by selling the product to the government which involves focusing on contracts. In that, if the company is given the contracts it can higher individuals to accomplish the tasks which will, in turn, result in good marketing and financial gains.

Application of Teece’s strategy Model

Teece Strategy Model is mainly objected to commercializing the developed thoughts in the quest of winning the started operations while decreasing existing opportunities for duplication by competitors (Teece, 2008). In that in the case of replacing streetlights with glowing lines, there is a need to utilize several complementary assets such as brand name, strategic alliances, distribution, promotion abilities and building strong relationships with consumers through asserting on quality. In that, the use of these assets will be essential in differentiating the product with all the existing competitors. The business has the ability to get into the market on its own based on the associated benefits and the fact that it adheres to innovation in order to compete adequately with other companies. Most of the companies in the market are conventionally based which implies that they have not yet adopted technology and thus their products have failed to offer cost and environmental solutions (Teece, 2008). However, based on the needed capital to support operations as well as promoting the product fully the business can get into partnership with an already established firm so that it can access the market at ease and gain a significant share with the shortest time possible as it is likely to make substantial revenue.

What is your next Step?

The next step is to study the market and understand the feasibility of the products demand, the possible competition, barriers and different approaches that can best be applied in creating business efficiency both in the local and international market. In other words, the next focus is to understand how to strategically place the product on the market.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

 

Christensen, B. J., & In Kowalczyk, C. (2017). Globalization: Strategies and effects. Springer.

Fischer, T. (2011). Managing Value Capture: Empirical Analyses of Managerial Challenges in Capturing Value. Wiesbaden: Gabler.

Gerybadze, A. (2010). Innovation and international corporate growth. Heidelberg: Springer.

Hockenos, P. (2013). Street Smarts: From Holland, Bright Ideas for Highways. Retrieved from http://www.nytimes.com/2013/04/28/automobiles/from-holland-bright-ideas-for-highways.html

Locke, R. M., & Wellhausen, R. L. (2014). Production in the innovation economy. MIT press.

Mlecnik, E. (2013). Innovation development for highly energy-efficient housing: opportunities and challenges related to the adoption of passive houses. Amsterdam, [Delft University Press].

Sideridis, A. B., & International Conference on E-Democracy. (2010). Next generation society: Technological and legal issues ; third international conference, e-democracy 2009, Athens, Greece, September 23-25, 2009 ; revised selected papers. Berlin: Springer.

Stinson, E. (2014). Awesome Glowing Roads That Could Be the Highways of the Future. Retrieved from https://www.wired.com/2014/11/awesome-glowing-roads-highways-future/

Teece, D. J., & World Scientific (Firm). (2008). Technological know-how, organizational capabilities, and strategic management: Business strategy and enterprise development in competitive environments. Singapore: World Scientific Pub. Co.