Conducting a Market Study & Developing the Business model- delivered at IIT Roorkee

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Conducting a Market Study & Developing the Business Model

Typical Business Planning roadmap Need Gap Identification Ideation Mission/Vision Statement Detailed business planning
Competitive analysis
Product Positioning Map
Core Value Proposition
Develop Business Model

Competitive Analysis
Direct Competition
same product, same geography
same product, different geography
Indirect (overlapping) competition
Future Competition
who could be competitors in future
competition from disruptive technologies

Sources of competitive info
empirical knowledge
conferences, events
media (print, electronic)
published studies, newspaper articles
internet search
industry resources
industry directories, associations, newsletters

Detailed competitive mapping
Syndicated research
free/paid basis
private companies / industry organizations
e.g. IAMAI, JuxtConsult, Indicus
Employ professional market research agencies
IMRB, AC Nielson
Conduct own market mapping study
previous projects, interns, students

Product Positioning Map (slideshare example)

2 X 2 Product Matrix (slideshare example) Online meetings Webinars Synchronous Private sharing Open, social sharing Asynchronous Private Public

The Positioning …(slideshare example)
SlideShare…the “YouTube of Powerpoint”
the elevator pitch
- video http://light.vpod.tv/?s=0.0.12688
your product’s core value proposition
how it is different from others

Why is positioning important?
Positioning has to be clear & simple
information & choice overloaded societies
explosion of products on the web
“me too”, overlapping features
low entry barriers for new players
short product life cycles on the web

Factors influencing business models
Depends on business objectives
trade-off between growth & monetization
Depends on financials
cash burn rate
expectations from investors
Depends on exit strategy

Internet business models
Transaction Based
charge users per interaction
Advertising
revenues driven by internet traffic
Freemium model
subscription based
basic is free, charge high-end customers
use free as marketing incentive
Content syndication
Licensing

Scenario building & what-if analysis
Evaluate multiple options
Initial financial projections
revenue, expenses, profit
cash flow projections
deficit could mean you need external funding
Estimate break-even point
Projections beyond break-even till exit

Preliminary Financial Planning (fictitious example)

Preliminary financial planning (fictitious example)

Reality check reqd!
Projections are numbers on a spreadsheet
how to validate your assumptions, hypothesis
Get as much feedback as possible
other entreprenuers
venture capitalists, financial institutions
Make dry runs if needed

Questions ? Thank You

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Conducting a Market Study & Developing the Business model- delivered at IIT Roorkee

by Amit Ranjan on Sep 16, 2007

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