Market Analysis Initiative for FAS, part 4

Simulation co-author – Esse Evbuomwan, PhD candidate at Washington University in St Louis)


Simulation Objective:

Write an Executive Summary for Stakeholders

Associated Simulation Library:

Science Sim

Background

Market Analysis is the process by which companies gather the data and insights to answer questions about market need, feasibility and profitability. It also helps to provide a data driven approach to decision making.

In Part 4, you’ll identify key decision-makers who could fund or support your venture and effectively communicate your findings in an executive summary

See part 1, on identifying data sources, data quality and doing research >

See part 2, on environmental assessment, market and customer segmentation >

See part 3, on forecasting and financial projections >

The Process

This job sim focuses on step 7.

  • Set a SMART goal that clearly states what product or service you aim to evaluate for local manufacturing, ensuring that your research is focused on meeting community needs and supporting your biomanufacturing business objectives.

  • Identify primary sources (such as interviews with local professors or surveys of healthcare labs) and secondary sources (government reports, international databases) that provide insights into demand, supply chain gaps, and product needs for biomanufacturing. Evaluating data source quality is a key part of this step.

  • Evaluate existing suppliers and competitors in the region, as well as external factors like regulations, trade policies, and infrastructure challenges that could affect your business. Use SWOT and PEST analyses to structure your assessment.

  • Analyze the data to uncover unmet needs, emerging trends, and obstacles in the lab and healthcare sectors that your biomanufacturing company could address. This step ensures that your offerings are relevant and impactful.

  • Based on your research, identify the specific customer groups (e.g. academic labs, hospitals, or diagnostic centers) that would most benefit from your locally manufactured products. Understanding their preferences will help you develop tailored solutions.

  • Use your data to project market growth and estimate demand for the proposed products. This step supports investment decisions and production planning for your company.

  • Prepare a clear, concise summary of your market analysis findings, including key insights, recommendations, and supporting visuals to share with potential investors, partners, or your startup team. This communication is essential for aligning your team and building support for your biomanufacturing venture.

Resources

Project SMART Goals
Self Reflection Guide
Informational Interview Guide

The Exercise

You are a member of the Future African Scientist (FAS) working towards launching a biomanufacturing company. You want to determine what products or services will best serve prospective customers in specified regions.

*For this job sim you will complete steps 7 of the Process (outlined above). For other steps in the Process, see Part 1, Part 2, Part 3.

Now, it’s time to translate your insights into a compelling message. Your task is to communicate your findings clearly and persuasively to potential stakeholders (e.g. such as funders, government agencies, or local partners) who can help bring your venture to life. Your presentation should highlight key takeaways, back them up with data, and explain why your proposed product or service is viable and worth supporting.

You’ll complete two key tasks:

  • Conduct a power analysis to identify which individuals or institutions hold influence over your success

  • Write an executive summary to communicate your findings with stakeholders

Task 9- Conduct a Power Analysis

(*note: you’re starting at Task #9, because Task 1-8 are outlined in Parts 1-3. This is a continuation of those job sims.)

In addition to summarizing your market insights, forecasts, and recommendations, you should conduct a power analysis to identify which individuals or institutions hold influence over your success, both formally and informally. Potential stakeholders may include investors, government agencies, local businesses, academic collaborators, and internal team members. Understanding their interests and influence levels helps you tailor your message, choose the right engagement strategy, and anticipate support or resistance.

Power analysis is a process that helps you:

  • Map who has formal power (e.g. regulators, procurement officers) vs. informal power (e.g. influential professors, donors, media figures).

  • Understand who your allies, opponents, and undecided influencers are.

  • Strategically frame your presentation to match the audience's influence, interests, and decision-making role.

Questions to Answer:

  • Who are your stakeholders (audience), and what type of power do they hold (formal, informal, invisible)?

  • What are their interests? Do they align with my goals?

  • Do I need to keep them informed or win them over to my side?

  • How can you tailor your message or visuals to influence decision-makers effectively?

Resources to Help You:

Task 10 - Create an executive summary or slide deck

Now that you have your findings and projections, your next step is to communicate them clearly and persuasively to the stakeholders who can help bring your idea to life. Your presentation should highlight key takeaways, back them up with data, and explain why your proposed product or service is viable and worth supporting.

Questions to Answer:

  • What are the top 2–3 takeaways from your market analysis?

  • How does the data support your recommendation to move forward (or not)?

  • What risks remain, and how might they be addressed?

  • Who are your stakeholders (audience), and what type of power do they hold (formal, informal, invisible)?

  • How can you tailor your message or visuals to influence decision-makers effectively?

Resources to Help You:

  • Your market analysis from prior tasks

  • This video with tips on communicating with stakeholders

  • Free design tools (e.g., Canva, PowerPoint)

Deliverables

Task 9

Create a power interest grid with the key stakeholders you’ve identified

  • Rank them in order of priority on the grid to identify the top 3 stakeholders in each category

Task 10

A 1-page executive summary and short slide deck with:

  • Your product focus

  • Key market insights: product positioning, SWOT

  • Demand projections: market size, production costs, anticipated revenue

  • Recommended next steps

  • Visuals (charts, tables, or diagrams where appropriate)

This final output will help you align your team, inform early business decisions, and build a case for potential funders or collaborators.

Additional Tasks

A professional in the field of market research may also perform:

  • Presentations to business partners and scientists

  • Conduct feasibility studies

  • Develop data collection tools: design surveys, questionnaires, or interview guides to gather targeted information from stakeholders.

  • Create budget and analyze cost: estimate the financial requirements and ROI of potential market opportunities.

  • Conduct scenario planning: develop best-case, worst-case, and most-likely market scenarios to inform strategic decisions.

Project SMART Goals
Self Reflection Guide

Skills Used to Perform this Task

  • Strategic Thinking: Using insights to support realistic business decisions

  • Communication and Storytelling: Framing data and recommendations in a clear, persuasive way for varied audiences

  • Data Interpretation: Connecting research findings to practical, actionable conclusions

  • Visual Communication: Using charts, visuals, or slide decks to enhance understanding and engagement

Skills Used in the Field

  • Broad technical expertise (STEM field)

  • Critical/analytical thinking

  • Project management

  • Communicating & relationship-building with clients

  • Presentation skills

  • Time and project management

  • Strategic thinking

  • Stakeholder engagement

  • Effective writing for technical and non-technical audiences