Case Study: Eye Spy Innovation (Computer Vision)
A semiconductor company had developed an innovative and highly versatile computer vision system, with applications for a number of popular devices including personal computers, tablets, digital/smart eye wear, automobiles, robots, drones, etc. With so many opportunities and markets to consider, the company’s market research team didn’t know where to start. The team had a number of issues to consider, but were primarily concerned with the demand and market size for their product in each of the targeted segments. To position themselves correctly, they needed to understand the selection process that consumer electronic device companies use when considering which computer vision technology to implement in their products. The team did not have direct access to the design engineers at these companies and needed to understand whether consumer electronics companies preferred building computer vision systems in-house or sourcing technology from third parties.
Market Insights Niche Expertise Customer Feedback
Based on the market research team’s limited understanding of the “build vs. buy” analysis conducted by their potential customers, Maven suggested conducting a series of short Telephone Consultations with professionals experienced in project management at manufacturers of consumer electronic products. The goal of the Consultations would be to assess the critical factors considered by such professionals when making a build vs. buy decision, and to gain a better understanding of how they perceived the applicability of computer vision technologies offered by third parties to their products. Within days the customer spoke with six relevant Mavens, including a consultant who had participated in design projects with several consumer electronics manufacturers and had a deep understanding of the issues involved. Based on these conversations, the customer determined that their product had strong potential in three separate applications. In addition, they developed a small network of trusted experts with whom they continue to consult as they move toward release of their products.
“We would not have received feedback so quickly if we didn’t work with Maven. We are now way ahead of schedule.” – Director of Market Research