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How the Customer Explained it and How the Project Leader Understood it Listen to your customer’s voice
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Understanding your Customer Product Opportunity Gap
How the Customer Explained it and How the Project Leader Understood it
How the Programmer Wrote it and How the Consultant Described it
How the Operations Installed
How the Customer was billed!!
What the Customer REALLY Needed!!!!
Opportunity Recognition A Business idea arises in response to
the opportunities in the market:
• Meeting the customer’s need and want for products or services
• Solving customer’s problem• Creating a want that does not exist
How do you do utilize this opportunity?
New market / existing product
New market/ new product
Existing market / existing product
Existing market/ new product
Customer Discovery
Customer = Market
Understand who you are selling your product to and why they will buy it.
Customer DiscoveryDo you really know your customer ?• What are the problems that your
product solves?• Do customers perceive these problems
that as important or “must have?” Why would someone buy your
product /service?• Cheaper • Better • Faster
What is the customer buying?
PRICE??
Value to customer
Ability to provide unique product/service
HIGH
HIGH
LOW
LOW
How good is your market ?What is your estimate about the size of
your market ? No. of customers , Total size of the market
Average spend per customer Monthly , Quarterly , Annually
Will you have more and more customers buying from you even in the future?
Economic Conditions , Demographic Changes , Technology Shifts , Regulations – Do they matter?
Fundamental and, in fact, fatal error.
Startups don’t fail because they lack a product; they fail because they lack customers and a proven financial model.
Customer Value Statement - Exercise
For [customer] who has [wants, need, opportunities], the [product name] is a [product category] that [compelling reason for customer to buy/key benefit to customer]. This product [unique ways it is better and different from others].