Cover -- Title Page -- Copyright -- Contents -- List of Contributors -- Foreword -- Preface -- List of Abbreviations -- Chapter 1 Introduction -- 1.1 Introduction -- 1.2 Importance of SMEs -- 1.3 Inspiring Innovation for Engineers -- 1.4 Rationale -- 1.5 Focus -- 1.6 Processes and Organization of Course -- 1.7 Breakdown of Book Material -- References -- Chapter 2 Idea Generation, Filtering and Development -- 2.1 Introduction -- 2.2 Timeline -- 2.3 Team Structure -- 2.3.1 Team-Working Theory -- 2.3.2 Team Roles -- 2.4 Idea Generation -- 2.4.1 Mentor Role -- 2.4.2 Role of the Team -- 2.4.3 Role of the Individual -- 2.4.4 Imitation -- 2.5 To Filter or Not -- 2.5.1 Already Exists -- 2.5.2 Market Issues -- 2.5.3 Technically Too Difficult -- 2.5.4 Beyond Expertise -- 2.5.5 Difficult to Pitch -- 2.5.6 No Potential for Future Development -- 2.6 Idea Incubation and Development -- 2.7 Conclusions -- References -- Chapter 3 The Ideal Pitch -- 3.1 Introduction -- 3.2 Business Pitch -- 3.2.1 CONNECT Springboard -- 3.2.2 Pitch Outline -- 3.3 Case Studies -- 3.3.1 MVR -- 3.3.2 Nutrifit -- 3.3.3 Noctua -- 3.4 Pain and Solution -- 3.5 Value Proposition and Technology -- 3.6 Market and Competition -- 3.7 Company Traction and Go-to-Market Strategy -- 3.8 Finance -- 3.9 Presentation Process -- 3.10 Conclusions -- References -- Chapter 4 Creating an Effective Business Plan -- 4.1 Introduction -- 4.2 Business Plan -- 4.2.1 Business Plan Outline -- 4.2.2 Executive Summary -- 4.3 Company -- 4.3.1 Team -- 4.3.2 Branding -- 4.4 The Business -- 4.4.1 Products and Services -- 4.4.2 Uniqueness -- 4.4.3 Future Products -- 4.5 Business Strategy -- 4.5.1 Corporate Strategy -- 4.5.2 Competitive Edge -- 4.5.3 Pricing Strategy -- 4.5.4 Sales Strategy -- 4.6 Market -- 4.6.1 Market Definition -- 4.6.2 Key Market Segments -- 4.6.3 Market Trends -- 4.6.4 Target Market.

4.7 Competition -- 4.7.1 Direct Competition -- 4.7.2 Indirect Competition -- 4.7.3 How We Compare -- 4.8 Market Analysis -- 4.8.1 Market Growth -- 4.8.2 Position -- 4.8.3 Pricing -- 4.8.4 Sales Strategy and Projection -- 4.8.5 Distribution -- 4.8.6 Advertising and Promotion -- 4.9 Finances -- 4.9.1 Costs -- 4.9.2 Breakeven Analysis -- 4.9.3 Profit and Loss Accounts -- 4.9.4 Balance Sheet -- 4.9.5 Performance Ratios -- 4.10 Conclusions -- References -- Chapter 5 Brands that Connect Create Differences that Matter -- 5.1 Introduction -- 5.2 Why Branding Matters -- 5.2.1 The Branding Evolution -- 5.2.2 The Dynamics of Trust -- 5.3 The Doing Part of Branding -- 5.3.1 A Brilliant Idea -- 5.3.2 Be Useful -- 5.3.3 Be Credible -- 5.3.4 Have a Dominant Proposition -- 5.3.5 Brand Check Your Idea -- 5.3.6 Belief Systems Influence Behaviour -- 5.4 The Secret Sauce: Tell a Great Story -- 5.5 World-Beating Attitude -- 5.5.1 Who Else is Out There? -- 5.5.2 Do Your Homework -- 5.6 Name it. Name it Good -- 5.6.1 Taglines Can Make Things Simple, Not Dumb -- 5.7 Brand Strategy (is Not a Dirty Word) -- 5.7.1 Make Sense to Your Advocates and Your Customers -- 5.7.2 A Word on Industrial/Tech Branding -- 5.8 A Coherent Visual Identity -- 5.8.1 A Central Visual Image -- 5.8.2 But What About My Logo? -- 5.8.3 Brand Touchpoints -- 5.9 Conclusions -- References -- Chapter 6 The Marketing of Your Business is Your Business -- 6.1 Introduction -- 6.2 Definition of Marketing and Marketing Communication -- 6.2.1 Identifying Your Target Market -- 6.2.2 Market Research for New Companies, Products or Services -- 6.3 Target Market Size and Trends -- 6.3.1 Segments -- 6.3.2 Competition -- 6.3.3 Market Cycles -- 6.4 Demand Indicators-Keyword Tools -- 6.4.1 The Value Proposition-Features TELL, Benefits SELL -- 6.5 Evaluating Your Market Research -- 6.6 Your Marketing Strategy.

6.6.1 Monitoring Reputation -- 6.7 Promotional Techniques -- 6.7.1 Offline Marketing -- 6.7.2 Online Marketing -- 6.7.3 Websites -- 6.7.4 Search Engine Optimization -- 6.7.5 Website Analytics -- 6.7.6 Affiliate Marketing -- 6.7.7 Email Marketing -- 6.7.8 Social Media -- 6.8 What is Social Media All About and Why is it Important for Business? -- 6.8.1 Facebook Facts -- 6.8.2 YouTube, Vimeo and the Use of Video for Business -- 6.8.3 Twitter -- 6.8.4 Branding and Twitter -- 6.9 Case Studies and Referrals -- 6.10 Conclusions -- Chapter 7 Intellectual Property -- 7.1 Why Intellectual Property is Important -- 7.2 Types of Intellectual Property Protection -- 7.2.1 Copyright -- 7.2.2 Trademarks -- 7.2.3 Patents -- 7.2.4 Know-How -- 7.2.5 Design Protection -- 7.3 Ownership of Intellectual Property -- 7.4 Information from Intellectual Property -- 7.5 Deciding How Intellectual Property Applies to Your Company -- 7.6 What to Do to Protect Your Intellectual Property -- 7.6.1 Copyright -- 7.6.2 Design Right -- 7.6.3 Registered Designs -- 7.6.4 Trademarks -- 7.6.5 Patents -- 7.7 Summary -- Chapter 8 Finance -- 8.1 Why Do I Need a Financial Plan? -- 8.2 Types of Business Structure -- 8.3 Sources of Finance -- 8.4 Main Components of the Financial Plan -- 8.5 Sales Forecast -- 8.6 Profit and Loss Account -- 8.7 Breakeven -- 8.7.1 Fixed Costs -- 8.8 Cash Flow Statement -- 8.9 Balance Sheet -- 8.10 Building the Financial Model -- 8.10.1 Structure -- 8.10.2 Variables -- 8.10.3 Assumptions -- 8.10.4 Sensitivity Testing-`What If' -- 8.11 Traps/Causes of Failure -- Chapter 9 Preliminary Design and Concept Prototype -- 9.1 Introduction -- 9.2 Finalizing Ideas -- 9.3 Communicating Innovation and Product Differentiation -- 9.4 Product Definition -- 9.5 Legal and Safety Considerations -- 9.6 IP Considerations -- 9.7 Initial Product Specification.

9.8 Design Modelling and Prototyping -- 9.9 Conclusions -- Chapter 10 Full Product Development -- 10.1 Introduction -- 10.2 Full Product Development in an Educational Context -- 10.3 Functional Prototypes -- 10.4 Product Design Specification -- 10.4.1 Preparing a PDS -- 10.5 Detailed Design -- 10.6 Don't Repeat the Mistakes of Others -- 10.7 Mass Production Considerations -- 10.8 Automated Assembly -- 10.9 Testing -- 10.10 Final Product Definition -- References -- Chapter 11 Case Study: Buteos -- 11.1 Marriage -- 11.1.1 Team Roles -- 11.2 Conception -- 11.3 Giving Birth -- 11.4 The Baptism -- 11.5 Growth -- 11.6 Questioning your Motives -- 11.7 Flying the Nest -- 11.8 The Big Bad World -- Chapter 12 Student Project to Commercial Project: A Complex Journey -- 12.1 Introduction -- 12.2 Evolution of the Product -- 12.2.1 Serving Beer -- 12.3 Product Development Insights -- 12.4 Going Beyond the Requirements of a University Project Module -- 12.4.1 Securing Protection -- 12.4.2 Product Rethink -- 12.4.3 Protecting Intellectual Property -- 12.5 Part-Time Student or Full-Time Innovator? -- 12.5.1 Covering the Legal Aspects -- 12.6 Dealing with Potential Customers and Licensees -- 12.6.1 Axiomatic Design -- 12.6.2 Product Architecture -- 12.7 Optimization Through Testing -- 12.8 Branding the Company -- 12.9 Branding Websites and Emails -- 12.10 Finances -- 12.11 'Go For It' Programme -- 12.12 Pitching the Technology -- 12.13 Design for Manufacture -- 12.14 Conclusions -- Reference -- Chapter 13 Assessment -- 13.1 Introduction -- 13.2 Learning Outcomes -- 13.3 Investment Pitch -- 13.4 Business Plan -- 13.5 Technical Feasibility Study -- 13.6 Peer Evaluation -- 13.7 The Assessment Matrix -- 13.8 Formative and Summative Assessment -- 13.9 Conclusions -- References -- Chapter 14 Final Thoughts -- 14.1 Introduction -- 14.2 Thoughts for Mentors.

14.3 Thoughts for Students -- 14.4 Future Directions -- 14.5 Final Comments -- Glossary -- Index.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2022. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.