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Case Study - New Product Evaluation - EcoEngine Inc.
EcoEngine Inc has designed a new type of combustion engine, called a free piston homogeneous charge compression ignition engine, which is potentially both much more efficient and much less polluting than existing spark ignition engines and Diesel engines. Two prototypes have proved the engine's potential and the company needed to evaluate its performance, reliability, efficiency, ease of entry etc. versus existing engines in order to determine which applications would make the most suitable initial targets to drive the development program.
Carey fawcett evaluated the engine relative to the status quo in each potential application such as trucks, automobiles, construction equipment, mining equipment, power generation, railway locomotives and ships, using its proprietary evaluation techniques. These techniques evaluate the potential market share of the engine in each application over time, taking into account customer need profiles, product performance, price sensitivity, constraints on new entrants etc. The evaluation concluded that notwithstanding the engine's greatly superior performance in automobiles and trucks the initial targets for the engine should be urban transit and underground mining, partly because of the particular pollution problems facing these applications and partly because of ease of entry considerations. The company is now seeking funding, assisted by Carey Fawcett, to pursue the next stage of the engine's development.
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