EٌُِRADA - M3 S2 - Creating Value for Customers
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ERADA Entrepreneurship Training Series Module #3 Session #2 on the topic of designing value for customers. Learn how to create a value proposition canvas to create a better fit between your product features and the customer profile.
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EٌُِRADA - M3 S2 - Creating Value for Customers
- 1. Emad Saif Lecturer & Trainer Center for Entrepreneurship, QU emadsaif@qu.edu.qa
- 3. CUSTOMERS: Home inspectors PRODUCT: Home inspection device Foundation CracksMold Defective WiringHidden Moisture • 20% Time saving • 80% Cheaper tool • Better quality inspection FIT?
- 7. Uncommon language Wasted time & resources Unproductive meetings Product Failure BIGCHALLENGE EnterpriseStartup
- 8. Need better approach for creating value for customers & lowering risk of failure!
- 10. The set of value proposition benefits that you design to attract customers The set of customer characteristics that you assume, observe and verify in the market FIT?
- 11. Value Proposition Canvas (VPC) Customer ProfileValue Map jobs pains gains gain creators pain relievers products & services
- 13. 1. Customer Jobs Find Taxi Give directions Pay Call Taxi What customers are trying to get done?
- 14. 2. Customer Pains Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Call Taxi What annoys the customer before, during & after getting job done
- 15. 3. Customer Gains Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Easy payment Fair price Arrive on time professional Call Taxi What outcomes & benefits customers want?
- 16. 4. Products & Services GPS Tracking Credit Card Payment Customer Service Taxi Smartphone App Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Easy payment Fair price Arrive on time professional Call Taxi What you offer customers
- 17. 5. Pain Relievers GPS Tracking Credit Card Payment Customer Service Taxi Smartphone App No Cash Assigned driver Cost System Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Easy payment Fair price Arrive on time professional Call Taxi How exactly your products and services alleviate specific customer pains Instant booking
- 18. 6. Gain Creators GPS Tracking Credit Card Payment Customer Service Taxi Smartphone App No Cash Assigned driver Cost System Save Time Professional drivers Visual Map Rating System Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Easy payment Fair price Arrive on time professional Call Taxi How your products and services create customer gains Instant booking
- 19. Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Easy payment Fair price Arrive on time professional Call Taxi
- 20. Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Easy payment Fair price Arrive on time professional Call Taxi RANKED
- 21. GPS Tracking Credit Card Payment Customer Service Taxi Smartphone App No Cash Assigned driver Cost System Save Time Professional drivers Visual Map Rating System Instant booking Products & Services Rank products & services from nice to have to essential Pain Relievers Rank pains from nice to have to essential Gain Creators Rank gains from nice to have to essential
- 22. GPS Tracking Credit Card Payment Customer Service Smartphone Taxi App No Cash Assigned driver Cost System Save Time Professional drivers Visual Map Rating System Instant booking Products & Services Rank products & services from nice to have to essential Pain Relievers Rank pains from nice to have to essential Gain Creators Rank gains from nice to have to essential RANKED
- 23. GPS Tracking Credit Card Payment Customer Service Smartphone Taxi App No Cash Assigned driver Cost System Save Time Professional drivers Visual Map Rating System Find Taxi Give directions Pay Wait a long time Compete with other customers Overcharged by Taxi Unsafe driver Easy payment Fair price Arrive on time professional Call Taxi Instant booking Ranked VPC
- 24. Strategyzer.com/vpd Smartphone taxi application Taxi passengers Get a taxi quickly minimizing waiting time for a taxi enjoying Instant taxi booking online Typical taxi services by phone ad-lib VALUE PROPOSITION TEMPLATE
- 25. 1. List products & services 2. Outline pain relievers 3. Outline gain creators 4. Rank by order of importance Customer ProfileValue Map 1. Select customer segment 2. Identify customer Jobs 3. Identify customer pains 4. Identify customer gains 5. Prioritize jobs, pains & gains
- 27. create a VALUE PROPOSITION CANVAS for the ideal university cafe ACTIVITY
- 29. Customer ProfileValue MapMaking Them Fit
- 30. Check Your FIT
- 32. SUMMARY 1. The Value Proposition Canvas (VPC) helps clarify the customer needs & how to create value for them 2. Validate assumptions by talking to customers 3. Collect insights and update VPC
- 34. GOOD LUCK! Please Fill Feedback Form Emad Saif Lecturer & Trainer Center for Entrepreneurship, QU emadsaif@qu.edu.qa
Editor's Notes
- The challenge of building products that customers want (willing to buy)
- The challenge of building products that customers want (willing to buy)
- What product / service are you offering and to who? What are the customer’s pains? Is there a product-market fit?