SlideShare a Scribd company logo
Unit 2:
Customer
Discovery
By
Prof. Sandeep D Chaudhary,
International School of Management & Research, Pune
Introduction
Let’s start with the ways of starting
new ventures
1
19,000,000,000 $
Whoa! That’s the price at which this company was
bought within 5 years of its establishment
The Company is Whatsapp
3
Unit 2 Customer discovery
224,000,000,000
That’s a lot of customers
100+
Countries as the preferred
platform!
500,000,000 users
And users in India
4
Unit 2 Customer discovery
Ways of starting new ventures
▪ new products/services for unmet
needs
▪ existing products or services into
totally new market or
▪ starting as a Franchisee of a well-
established business
5
Unit 2 Customer discovery
Characteristics of Entrepreneurial
Opportunity
▪ Market-oriented
▪ Feasible
▪ Profit-oriented
▪ Specific
▪ Motivational
▪ Legal
▪ Ethical
▪ Convertible to Product
6
Unit 2 Customer discovery
Steps in Opportunity
identification
Let’s start with the steps in
Opportunity Identification
2
Unit 2 Customer discovery
Steps in Opportunity
identification
▪ Opportunity Search
▪ Opportunity Analysis
▪ Opportunity Selection
8
Unit 2 Customer discovery
Sources of ideas
for Opportunity!
9
Sources of Idea for business opportunity
10
2 4 6
7
5
3
Existing products and Services
• By reviewing, monitoring, evaluating existing
products, services or markets
• Combination of existing product/market and
markets can generate simple business ideas
• Combination of new products/services and new
markets may generate difficult business ideas
Trends
• Economic trends
• Government trends
• Societal trends
• Technological trends
Government
• Changes in govt
policies,procedures,
rules & regulations
Distribution Channels
• People working on supply chain
know the exact position of the
product in market
• Wholesalers, Distributors,
Retailers providing information
related with the competition
Research and Development
• Formal R&D- within company
Informal R&D- Entrepreneur
himself or with the team
• Research studies conducted
by competiitors
• In-house R&D efforts
suitable for Large
Strategic Changes
• Strategic changes
provide more
opportunities,
rewards,wealth &
personal satisfaction
1
Consumers
• Preferences & buying
patterns of target
consumers
• Formal & Informal surveys
using Questionnaires, face-
to-face interviews
8
Exhibitions
• Trade fairs shocasing new
products/services
• Presence of important
salesman, distributors,
franchisers,entrepreneurs
Unit 2 Customer discovery
Want Business Opportunities? Use this event as guide for
ideas.
11
12
Tools & Techniques of
Opportunity search!
13
▪ Focus Group
▪ Brainstorming
▪ Reverse Brainstorming
▪ Check List
▪ Problem Inventory Analysis.
Place your screenshot here
14
Tools & Techniques of
Opportunity Search
Unit 2 Customer discovery
▪ Information from publications
▪ Seminars & Conferences
▪ Discussion with People
▪ Day Dreaming & Fantisising
▪ Combination of Above methods
Place your screenshot here
15
Tools & Techniques of
Opportunity Search
Unit 2 Customer discovery
Ways to Assess
Opportunities!
16
Ways to assess
market opportunities
▪ Needs and Wants
▪ Current or New Market
▪ Target Market
▪ SWOT Analysis
17
Unit 2 Customer discovery
Place your screenshot here
18
SWOT Analysis of DMart
Unit 2 Customer discovery
Tools & Techniques of
Opportunity Analysis!
19
▪ Trend Analysis
▪ Demographic Analysis
▪ Gap Analysis
Product Line gaps
Distribution gaps
Usage gaps
Competitive gaps
20
Tools & Techniques of
Opportunity Analysis
Opportunity
Selection!
21
Finalization of
Business opportunity
▪ Total investment
▪ Return on investment
▪ Return on equity
▪ Expected sales volume
▪ Gains and Profitability
22
Unit 2 Customer discovery
Next step towards finalization of
Business opportunity
▪ Total investment in plant &
machinery
▪ Possible sources of raw materials
▪ Facilities for infrastructure
▪ Project size
▪ Availability of manpower
▪ Amount of finances required
▪ Government policies & procedures
regarding new venture
▪ Government incentives, subsidies,
exemptions 23
Unit 2 Customer discovery
Tools & Techniques of
Opportunity Selection!
24
Tools & Techniques of Selection
Hits
Hitting the most attractive,
interesting, feasible, creative
alternative as dots or hitmark
Clustering
Similar alternatives getting
grouped together to avoid
repetition
Not more than 3 opportunities
remain in a cluster
Restating clusters
Capturing a central theme of a
cluster to express it in a single
statement
25
Point
Four-stage approach for
evalution of opportunities
▪ Pluses
▪ Opportunities
▪ Issues
▪ New Thinking
Card sort
Ranking the given set of
opportunities according to
level of attractiveness with
rank 1 as the most attractive
business opportunity
Evaluation matrix
Criteria of Selection vs
Business Opportunity in a grid
matrix
Application of rating scales like
1-5 or A-B-----
Paired comparison
analysis
Comparing every alternative
with other alternatives
(1 as the most preferable,
2 as the next one,
3 as the least one opportunity)
Unit 2 Customer discovery
Market Intelligence
Let’s start with the steps in
Opportunity Identification
3
“ “Market intelligence is the external
data collected by a company about a
specific market which it wishes to
enter, to make decisions.”
It is the first set of data which the
company analyses before making any
investment decision..
27
Importance of Market Intelligence
▪ To understand the position in the market
▪ To evaluate Product
▪ To know Target Audience
▪ To conduct Competitor Analysis
28
Unit 2 Customer discovery
29
Steps of improving Market
intelligence:
▪ Train & motivate Sales-force
▪ Motivate Distributors, retailers, other
intermediaries
▪ Network Externally
▪ Create Customer Advisory panel
▪ Optimal usage of Govt data
resources
▪ Information bought from External
suppliers
▪ Collect Competitive intelligence
through online customer feedback
Role of Marketing Intelligence
▪ Competitive advantage
▪ Product intelligence
▪ Marketing intelligence
▪ Consumer understanding
30
Unit 2 Customer discovery
Market Analysis
Let’s start with the process to identify
the potential demand of your product
4
“ “Market analysis is a documented
investigation of a market that is used to
inform a firm’s planning activities.”
The goal of a market analysis is
▪ To determine the attractiveness of a
market ..
▪ To understand evolving opportunities
and threats to their product
32
Role of Marketing Analysis in
Decision-making
▪ Inventory management
▪ Purchase
▪ Workforce expansion
▪ Facility expansion
▪ Purchase of capital
equipment
▪ Promotional activities
33
Unit 2 Customer discovery
Dimensions of Market Analysis
34
MARKET SIZE
MARKET
STRUCTURE
DISTRIBUTION CHANNEL
MARKET PROFITABILITY
INDUSTRY COST STRUCTURE
GROWTH RATE/POTENTIAL
MARKET TRENDS
KEY SUCCESS FACTORS
Insert your content
Insert your content
Insert your content
Insert your content
Insert your content
Insert your content
Insert your content
Insert your content
Unit 2 Customer discovery
Market Analysis Process
35
3. Assess Market
Trends
1. Industry Trends
2. Target Market Trends
3. Conduct Market
Research
1. Identify
Target Market
Whom are we selling to?
Who are our ideal
customers?
1. Demographics
2. Psychographics
3. Niche Markets
2. Research the
competition
Who is competing with us?
1. Check-Out their
Websites
2. Investigate Prices of
their Products &
Services
3. Determine who their
Advertisers are
Unit 2 Customer discovery
Sub-sections of Market Analysis
36
Market
research
• Secondary research
• Primary research
Industry
analysis
• Total industry size
• Growth potential
• Standards & regulations affecting industry
• Common costs & profit margins
• Industry trends
Customer
analysis
• Identify customer segments
• Characterize each segment
• Buying criteria of target market
• Market niche
• Size of market
Competitor
Analysis
• Discuss the similarities and differences between product/service
• Competitive advantage
• Detailed description of main competitors
Unit 2 Customer discovery
INR 195
Whoa! That’s a big number in 2020 for Indian Soap
Market, aren’t you proud?
Your Assignment??.....................
37
billion
Place your screenshot here
38
Soap: Market Analysis
By type, the market is divided into:
▪ Organic
▪ Conventional
On the basis of form, the market can
be segmented into:
▪ Liquid
▪ Solid
▪ Others
Unit 2 Customer discovery
Place your screenshot here
39
Soap: Market Analysis
▪ Based on product, the industry can be
segregated into:
Bath Soap
Kitchen Soap
Medicated Soap
Laundry Soap
Others
▪ On the basis of distribution channel,
the market can be distributed into:
Supermarkets and Hypermarkets
Convenience Stores
Pharmacies
Online
Others
▪ Godrej Consumer Products
Limited
▪ Hindustan Unilever Limited
▪ ITC Limited
▪ The Himalaya Drug
Company
▪ Wipro Enterprises (P) Ltd
▪ Others
Place your screenshot here
40
Key Industry Players in the
India Soap Market
Unit 2 Customer discovery
41
Can you identify the
respective
companies of these
dishwashing soaps?
Unit 2 Customer discovery
Go-to-Market
strategy
Let’s start with the plan to succeed in
new markets with new customers
5
Definition & Meaning
“A go-to-market (GTM) strategy is a plan
that helps you position a new product or
service for launch, define your ideal
customers, and coordinate your
messaging”
▪ Launching a new product in an existing
market
▪ Launching an existing product in a new
market
▪ Testing a new product's market for
growth 43
▪ Digital marketing:
Flipkart, Amazon, and Ola have used digital
marketing to create brand awareness and drive
customer acquisition.
▪ Partnerships and alliances:
mobile wallet company Paytm has formed
partnerships with various companies in the e-
commerce, travel, and entertainment industries to
offer discounts and cashback to customers.
▪ Sales promotions:
Swiggy, a food delivery platform, has used referral
programs and first-time user discounts to attract new
customers.
44
Go-to-market strategy
examples in India
▪ Localization:
Xiaomi, a smartphone manufacturer, has
customized its products and marketing campaigns to
appeal to Indian consumers. The company has also
established a local supply chain and after-sales
service network to improve customer satisfaction.
▪ Brand ambassadors and influencers:
Indian cricket captain Virat Kohli is a brand
ambassador for Puma, while Bollywood actor
Ranveer Singh promotes products for multiple
brands.
45
Go-to-market strategy
examples in India
Unit 2 Customer discovery
46
Steps to creating a GTM
strategy
▪ Define Target markets
▪ Define Target customrs
▪ Define Brand positioning
▪ Define the Offering
▪ Define the channels
▪ Build the Budget model
▪ Define Marketing strategy.
Unit 2 Customer discovery
Long Tail Markets
Let’s start with the process to
understand a strategy used by
entrepreneurs
6
Place your screenshot here
48
Long Tail markets- Meaning
▪ It focuses on selling low volumes of
specialized products to many
customers, rather than high volumes of
a reduced number of popular items..
▪ Invented by Chris Anderson in 2004
▪ Argued that these goods with lower
demand can actually increase in
profitability
Unit 2 Customer discovery
Business Model
Canvas
Let’s start with the process to
visualise different elements of
business
7
Definition & Meaning
▪ “Business Model Canvas is
a Visual framework for
describing the different
elements of how a
business works”
▪ Constitutes 9 elements
▪ Easy to alterations in visual
areas
50
Unit 2 Customer discovery
Meaning
▪ It attempts to answer:
What the business does?
Which resources it needs?
How the Money flows?
for whom ?
with Whom?
51
Unit 2 Customer discovery
Meaning
▪ Explains Four major
aspects of Business
Customers
Offer
Infrastructure
Financial Viability
52
Unit 2 Customer discovery
Business Model Canvas
53
Key Activities
Insert your content
Key Resources
Insert your content
Value Propositions
Insert your content
Customer
Relationships
Insert your content
Channels
Insert your content
Customer Segments
Insert your content
Key Partners
Insert your content
Cost Structure
Insert your content
Revenue Streams
Insert your content
“ “Business Model Canvas is a documented
investigation of a market that is used to
inform a firm’s planning activities.”
The goal of a market analysis is
▪ To determine the attractiveness of a
market ..
▪ To understand evolving opportunities
and threats to their product
54
How big is Dish-washing detergent/soap market in india?
55
INR 36
Whoa! That’s a big number in 2020 for Indian
Dishwashing Market, aren’t you proud?
Your Assignment??.....................
56
billion
Thanks!
Any questions?
You can find me at
▪ sundeep.chaudhari@gmail.com
57

More Related Content

What's hot

Entrepreneurship (sources of funding)
Entrepreneurship (sources of funding)Entrepreneurship (sources of funding)
Entrepreneurship (sources of funding)
Shamika Naik
 
Profile of SIDO, SISI, NISC; Entrepreneurship and msme
Profile of SIDO, SISI, NISC; Entrepreneurship and msmeProfile of SIDO, SISI, NISC; Entrepreneurship and msme
Profile of SIDO, SISI, NISC; Entrepreneurship and msme
Indraja Modem
 
Avis
AvisAvis
Gr 4 promotion of self help groups under the shg(1)
Gr 4 promotion of self help groups under the shg(1)Gr 4 promotion of self help groups under the shg(1)
Gr 4 promotion of self help groups under the shg(1)
Anoop K Mishra
 
Non-banking Finance Company(NBFCs)
Non-banking Finance Company(NBFCs)Non-banking Finance Company(NBFCs)
Non-banking Finance Company(NBFCs)
Mickey
 
Dic, niesbud, cedok
Dic, niesbud, cedokDic, niesbud, cedok
Dic, niesbud, cedok
arun savukar
 
DEVELOPMENT BANKS
DEVELOPMENT BANKSDEVELOPMENT BANKS
DEVELOPMENT BANKS
Aditya Kumar
 
Mapa do Ecossistema de Inovação - Rio de Janeiro
Mapa do Ecossistema de Inovação - Rio de JaneiroMapa do Ecossistema de Inovação - Rio de Janeiro
Mapa do Ecossistema de Inovação - Rio de Janeiro
WeNova Consulting
 
Startup & New Venture Management_Unit 1 Being an Entrepreneur.pdf
Startup & New Venture Management_Unit 1 Being an Entrepreneur.pdfStartup & New Venture Management_Unit 1 Being an Entrepreneur.pdf
Startup & New Venture Management_Unit 1 Being an Entrepreneur.pdf
Sandeep D Chaudhary
 
Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01
Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01
Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01
nikhil mishra
 
startup india
startup indiastartup india
startup india
Suryadipta Dutta
 
Sidbi
SidbiSidbi
Sidbi
akhilmind
 
Innovation & Entrepreneurship.pptx
Innovation & Entrepreneurship.pptxInnovation & Entrepreneurship.pptx
Innovation & Entrepreneurship.pptx
AnchalMittal21
 
new Venture development and venture capital
 new Venture development and venture capital new Venture development and venture capital
new Venture development and venture capital
Vinay Kumar
 
Bombay stock exchange (BSE)
Bombay stock exchange (BSE)Bombay stock exchange (BSE)
Bombay stock exchange (BSE)
Sundar B N
 
Chapter 7: Special Purpose Vehicle
Chapter 7: Special Purpose VehicleChapter 7: Special Purpose Vehicle
Chapter 7: Special Purpose Vehicle
financedude
 
Nse & Bse
Nse & Bse Nse & Bse
Nse & Bse
Ankit Chauhan
 
Critical Evaluation of EDPs in India
Critical Evaluation of EDPs in IndiaCritical Evaluation of EDPs in India
Critical Evaluation of EDPs in India
MONIRBA, University of Allahabad
 
Money market project (2)
Money market project (2)Money market project (2)
Money market project (2)
Joe Ralte
 
Gestão da inovação
Gestão da inovaçãoGestão da inovação
Gestão da inovação
Alexandre Spengler
 

What's hot (20)

Entrepreneurship (sources of funding)
Entrepreneurship (sources of funding)Entrepreneurship (sources of funding)
Entrepreneurship (sources of funding)
 
Profile of SIDO, SISI, NISC; Entrepreneurship and msme
Profile of SIDO, SISI, NISC; Entrepreneurship and msmeProfile of SIDO, SISI, NISC; Entrepreneurship and msme
Profile of SIDO, SISI, NISC; Entrepreneurship and msme
 
Avis
AvisAvis
Avis
 
Gr 4 promotion of self help groups under the shg(1)
Gr 4 promotion of self help groups under the shg(1)Gr 4 promotion of self help groups under the shg(1)
Gr 4 promotion of self help groups under the shg(1)
 
Non-banking Finance Company(NBFCs)
Non-banking Finance Company(NBFCs)Non-banking Finance Company(NBFCs)
Non-banking Finance Company(NBFCs)
 
Dic, niesbud, cedok
Dic, niesbud, cedokDic, niesbud, cedok
Dic, niesbud, cedok
 
DEVELOPMENT BANKS
DEVELOPMENT BANKSDEVELOPMENT BANKS
DEVELOPMENT BANKS
 
Mapa do Ecossistema de Inovação - Rio de Janeiro
Mapa do Ecossistema de Inovação - Rio de JaneiroMapa do Ecossistema de Inovação - Rio de Janeiro
Mapa do Ecossistema de Inovação - Rio de Janeiro
 
Startup & New Venture Management_Unit 1 Being an Entrepreneur.pdf
Startup & New Venture Management_Unit 1 Being an Entrepreneur.pdfStartup & New Venture Management_Unit 1 Being an Entrepreneur.pdf
Startup & New Venture Management_Unit 1 Being an Entrepreneur.pdf
 
Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01
Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01
Institutionalsupporttosmallandmediumenterprises 120627021515-phpapp01
 
startup india
startup indiastartup india
startup india
 
Sidbi
SidbiSidbi
Sidbi
 
Innovation & Entrepreneurship.pptx
Innovation & Entrepreneurship.pptxInnovation & Entrepreneurship.pptx
Innovation & Entrepreneurship.pptx
 
new Venture development and venture capital
 new Venture development and venture capital new Venture development and venture capital
new Venture development and venture capital
 
Bombay stock exchange (BSE)
Bombay stock exchange (BSE)Bombay stock exchange (BSE)
Bombay stock exchange (BSE)
 
Chapter 7: Special Purpose Vehicle
Chapter 7: Special Purpose VehicleChapter 7: Special Purpose Vehicle
Chapter 7: Special Purpose Vehicle
 
Nse & Bse
Nse & Bse Nse & Bse
Nse & Bse
 
Critical Evaluation of EDPs in India
Critical Evaluation of EDPs in IndiaCritical Evaluation of EDPs in India
Critical Evaluation of EDPs in India
 
Money market project (2)
Money market project (2)Money market project (2)
Money market project (2)
 
Gestão da inovação
Gestão da inovaçãoGestão da inovação
Gestão da inovação
 

Similar to Startup & New Venture Management_Unit 2 Customer Discovery.pdf

How To Do A Marketing Plan
How To Do A Marketing PlanHow To Do A Marketing Plan
How To Do A Marketing Plan
kevinhuynh
 
Understanding marketing in new perspective
Understanding marketing in new perspectiveUnderstanding marketing in new perspective
Understanding marketing in new perspective
Arbaz Khan
 
Marketing Research, Applications of Product Development and Test Marketing, S...
Marketing Research, Applications of Product Development and Test Marketing, S...Marketing Research, Applications of Product Development and Test Marketing, S...
Marketing Research, Applications of Product Development and Test Marketing, S...
Saneem Nazim
 
How to Conduct and Prepare a Competitive Analysis
How to Conduct and Prepare a Competitive AnalysisHow to Conduct and Prepare a Competitive Analysis
How to Conduct and Prepare a Competitive Analysis
Varun Mittal
 
What is Market Research?
What is Market Research? What is Market Research?
What is Market Research?
MC Egypt
 
Introduction of marketing management
Introduction of marketing managementIntroduction of marketing management
Introduction of marketing management
KirtiSharma274
 
The Neutrino Donut / LARTA - Agriculture Market Research and Competition
The Neutrino Donut / LARTA - Agriculture Market Research and CompetitionThe Neutrino Donut / LARTA - Agriculture Market Research and Competition
The Neutrino Donut / LARTA - Agriculture Market Research and Competition
Earle Hager
 
DIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFT
DIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFTDIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFT
DIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFT
AlazerTesfayeErsasuT
 
Market feasibility
Market feasibilityMarket feasibility
Market feasibility
kongara
 
Market analysis
Market analysisMarket analysis
Market analysis
Ahtezaz Parways
 
Market Research.pptx
Market Research.pptxMarket Research.pptx
Market Research.pptx
Tushar316493
 
Target segmentation theory
Target segmentation   theoryTarget segmentation   theory
Target segmentation theory
Incubation & Industry
 
MARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptx
MARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptxMARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptx
MARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptx
PreciousChanaiwa
 
MARKET RESEARCH WEEK 1.pptx
MARKET RESEARCH WEEK 1.pptxMARKET RESEARCH WEEK 1.pptx
MARKET RESEARCH WEEK 1.pptx
PreciousChanaiwa
 
Why Market Research Services Are Significant for Business Growth.pptx
Why Market Research Services Are Significant for Business Growth.pptxWhy Market Research Services Are Significant for Business Growth.pptx
Why Market Research Services Are Significant for Business Growth.pptx
Andrew Leo
 
Essentials of marketing management ppt slides
Essentials of marketing management ppt slidesEssentials of marketing management ppt slides
Essentials of marketing management ppt slides
Yodhia Antariksa
 
Marketing management
Marketing managementMarketing management
Marketing management
Bibaswann Bandyopadhyay
 
market anlysis SOFTware.pptx
market anlysis SOFTware.pptxmarket anlysis SOFTware.pptx
market anlysis SOFTware.pptx
recoveraccount1
 
The Business Evaluation Scoring Technique (BEST)
The Business Evaluation Scoring Technique (BEST)The Business Evaluation Scoring Technique (BEST)
The Business Evaluation Scoring Technique (BEST)
Peachy Essay
 
Market Studies.pdf
Market Studies.pdfMarket Studies.pdf
Market Studies.pdf
RodrigoDigenesRezend
 

Similar to Startup & New Venture Management_Unit 2 Customer Discovery.pdf (20)

How To Do A Marketing Plan
How To Do A Marketing PlanHow To Do A Marketing Plan
How To Do A Marketing Plan
 
Understanding marketing in new perspective
Understanding marketing in new perspectiveUnderstanding marketing in new perspective
Understanding marketing in new perspective
 
Marketing Research, Applications of Product Development and Test Marketing, S...
Marketing Research, Applications of Product Development and Test Marketing, S...Marketing Research, Applications of Product Development and Test Marketing, S...
Marketing Research, Applications of Product Development and Test Marketing, S...
 
How to Conduct and Prepare a Competitive Analysis
How to Conduct and Prepare a Competitive AnalysisHow to Conduct and Prepare a Competitive Analysis
How to Conduct and Prepare a Competitive Analysis
 
What is Market Research?
What is Market Research? What is Market Research?
What is Market Research?
 
Introduction of marketing management
Introduction of marketing managementIntroduction of marketing management
Introduction of marketing management
 
The Neutrino Donut / LARTA - Agriculture Market Research and Competition
The Neutrino Donut / LARTA - Agriculture Market Research and CompetitionThe Neutrino Donut / LARTA - Agriculture Market Research and Competition
The Neutrino Donut / LARTA - Agriculture Market Research and Competition
 
DIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFT
DIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFTDIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFT
DIGITAL MAREKETING HHHGHJJHUHUHYFGRTRGFGTFT
 
Market feasibility
Market feasibilityMarket feasibility
Market feasibility
 
Market analysis
Market analysisMarket analysis
Market analysis
 
Market Research.pptx
Market Research.pptxMarket Research.pptx
Market Research.pptx
 
Target segmentation theory
Target segmentation   theoryTarget segmentation   theory
Target segmentation theory
 
MARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptx
MARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptxMARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptx
MARKET RESEARCH WEEK 1 LESSON OVERVIEW.pptx
 
MARKET RESEARCH WEEK 1.pptx
MARKET RESEARCH WEEK 1.pptxMARKET RESEARCH WEEK 1.pptx
MARKET RESEARCH WEEK 1.pptx
 
Why Market Research Services Are Significant for Business Growth.pptx
Why Market Research Services Are Significant for Business Growth.pptxWhy Market Research Services Are Significant for Business Growth.pptx
Why Market Research Services Are Significant for Business Growth.pptx
 
Essentials of marketing management ppt slides
Essentials of marketing management ppt slidesEssentials of marketing management ppt slides
Essentials of marketing management ppt slides
 
Marketing management
Marketing managementMarketing management
Marketing management
 
market anlysis SOFTware.pptx
market anlysis SOFTware.pptxmarket anlysis SOFTware.pptx
market anlysis SOFTware.pptx
 
The Business Evaluation Scoring Technique (BEST)
The Business Evaluation Scoring Technique (BEST)The Business Evaluation Scoring Technique (BEST)
The Business Evaluation Scoring Technique (BEST)
 
Market Studies.pdf
Market Studies.pdfMarket Studies.pdf
Market Studies.pdf
 

Recently uploaded

Mail Server Configuration Using App passwords in Odoo 17
Mail Server Configuration Using App passwords in Odoo 17Mail Server Configuration Using App passwords in Odoo 17
Mail Server Configuration Using App passwords in Odoo 17
Celine George
 
How to Manage Shipping Connectors & Shipping Methods in Odoo 17
How to Manage Shipping Connectors & Shipping Methods in Odoo 17How to Manage Shipping Connectors & Shipping Methods in Odoo 17
How to Manage Shipping Connectors & Shipping Methods in Odoo 17
Celine George
 
matatag curriculum education for Kindergarten
matatag curriculum education for Kindergartenmatatag curriculum education for Kindergarten
matatag curriculum education for Kindergarten
SarahAlie1
 
FEELINGS AND EMOTIONS INSIDE OUT MOVIE.ppt
FEELINGS AND EMOTIONS INSIDE OUT MOVIE.pptFEELINGS AND EMOTIONS INSIDE OUT MOVIE.ppt
FEELINGS AND EMOTIONS INSIDE OUT MOVIE.ppt
JenezarieTarra1
 
How to Create & Publish a Blog in Odoo 17 Website
How to Create & Publish a Blog in Odoo 17 WebsiteHow to Create & Publish a Blog in Odoo 17 Website
How to Create & Publish a Blog in Odoo 17 Website
Celine George
 
A beginner’s guide to project reviews - everything you wanted to know but wer...
A beginner’s guide to project reviews - everything you wanted to know but wer...A beginner’s guide to project reviews - everything you wanted to know but wer...
A beginner’s guide to project reviews - everything you wanted to know but wer...
Association for Project Management
 
How to Manage Line Discount in Odoo 17 POS
How to Manage Line Discount in Odoo 17 POSHow to Manage Line Discount in Odoo 17 POS
How to Manage Line Discount in Odoo 17 POS
Celine George
 
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES  Lecture_Notes_Unit4_chapter11_sequenceSEQUNCES  Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
Murugan Solaiyappan
 
E-learning Odoo 17 New features - Odoo 17 Slides
E-learning Odoo 17  New features - Odoo 17 SlidesE-learning Odoo 17  New features - Odoo 17 Slides
E-learning Odoo 17 New features - Odoo 17 Slides
Celine George
 
SD_Integrating 21st Century Skills in Classroom-based Assessment.pptx
SD_Integrating 21st Century Skills in Classroom-based Assessment.pptxSD_Integrating 21st Century Skills in Classroom-based Assessment.pptx
SD_Integrating 21st Century Skills in Classroom-based Assessment.pptx
elwoodprias1
 
FINAL MATATAG Kindergarten CG 2023 pdf
FINAL MATATAG Kindergarten CG 2023   pdfFINAL MATATAG Kindergarten CG 2023   pdf
FINAL MATATAG Kindergarten CG 2023 pdf
maricelrudela
 
CTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDFCTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDF
hammadmughal76316
 
How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17
Celine George
 
The Cruelty of Animal Testing in the Industry.pdf
The Cruelty of Animal Testing in the Industry.pdfThe Cruelty of Animal Testing in the Industry.pdf
The Cruelty of Animal Testing in the Industry.pdf
luzmilaglez334
 
modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025
NurFitriah45
 
Parent PD Design for Professional Development .docx
Parent PD Design for Professional Development .docxParent PD Design for Professional Development .docx
Parent PD Design for Professional Development .docx
AntonioJarligoCompra
 
"DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ...
"DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ..."DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ...
"DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ...
thanhluan21
 
C# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdfC# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdf
Scholarhat
 
DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...
DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...
DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...
thanhluan21
 
modul ajar kelas x bahasa inggris 24/254
modul ajar kelas x bahasa inggris 24/254modul ajar kelas x bahasa inggris 24/254
modul ajar kelas x bahasa inggris 24/254
NurFitriah45
 

Recently uploaded (20)

Mail Server Configuration Using App passwords in Odoo 17
Mail Server Configuration Using App passwords in Odoo 17Mail Server Configuration Using App passwords in Odoo 17
Mail Server Configuration Using App passwords in Odoo 17
 
How to Manage Shipping Connectors & Shipping Methods in Odoo 17
How to Manage Shipping Connectors & Shipping Methods in Odoo 17How to Manage Shipping Connectors & Shipping Methods in Odoo 17
How to Manage Shipping Connectors & Shipping Methods in Odoo 17
 
matatag curriculum education for Kindergarten
matatag curriculum education for Kindergartenmatatag curriculum education for Kindergarten
matatag curriculum education for Kindergarten
 
FEELINGS AND EMOTIONS INSIDE OUT MOVIE.ppt
FEELINGS AND EMOTIONS INSIDE OUT MOVIE.pptFEELINGS AND EMOTIONS INSIDE OUT MOVIE.ppt
FEELINGS AND EMOTIONS INSIDE OUT MOVIE.ppt
 
How to Create & Publish a Blog in Odoo 17 Website
How to Create & Publish a Blog in Odoo 17 WebsiteHow to Create & Publish a Blog in Odoo 17 Website
How to Create & Publish a Blog in Odoo 17 Website
 
A beginner’s guide to project reviews - everything you wanted to know but wer...
A beginner’s guide to project reviews - everything you wanted to know but wer...A beginner’s guide to project reviews - everything you wanted to know but wer...
A beginner’s guide to project reviews - everything you wanted to know but wer...
 
How to Manage Line Discount in Odoo 17 POS
How to Manage Line Discount in Odoo 17 POSHow to Manage Line Discount in Odoo 17 POS
How to Manage Line Discount in Odoo 17 POS
 
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES  Lecture_Notes_Unit4_chapter11_sequenceSEQUNCES  Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
 
E-learning Odoo 17 New features - Odoo 17 Slides
E-learning Odoo 17  New features - Odoo 17 SlidesE-learning Odoo 17  New features - Odoo 17 Slides
E-learning Odoo 17 New features - Odoo 17 Slides
 
SD_Integrating 21st Century Skills in Classroom-based Assessment.pptx
SD_Integrating 21st Century Skills in Classroom-based Assessment.pptxSD_Integrating 21st Century Skills in Classroom-based Assessment.pptx
SD_Integrating 21st Century Skills in Classroom-based Assessment.pptx
 
FINAL MATATAG Kindergarten CG 2023 pdf
FINAL MATATAG Kindergarten CG 2023   pdfFINAL MATATAG Kindergarten CG 2023   pdf
FINAL MATATAG Kindergarten CG 2023 pdf
 
CTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDFCTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDF
 
How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17How to Empty a One2Many Field in Odoo 17
How to Empty a One2Many Field in Odoo 17
 
The Cruelty of Animal Testing in the Industry.pdf
The Cruelty of Animal Testing in the Industry.pdfThe Cruelty of Animal Testing in the Industry.pdf
The Cruelty of Animal Testing in the Industry.pdf
 
modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025
 
Parent PD Design for Professional Development .docx
Parent PD Design for Professional Development .docxParent PD Design for Professional Development .docx
Parent PD Design for Professional Development .docx
 
"DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ...
"DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ..."DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ...
"DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY ...
 
C# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdfC# Interview Questions PDF By ScholarHat.pdf
C# Interview Questions PDF By ScholarHat.pdf
 
DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...
DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...
DANH SÁCH THÍ SINH XÉT TUYỂN SỚM ĐỦ ĐIỀU KIỆN TRÚNG TUYỂN ĐẠI HỌC CHÍNH QUY N...
 
modul ajar kelas x bahasa inggris 24/254
modul ajar kelas x bahasa inggris 24/254modul ajar kelas x bahasa inggris 24/254
modul ajar kelas x bahasa inggris 24/254
 

Startup & New Venture Management_Unit 2 Customer Discovery.pdf

  • 1. Unit 2: Customer Discovery By Prof. Sandeep D Chaudhary, International School of Management & Research, Pune
  • 2. Introduction Let’s start with the ways of starting new ventures 1
  • 3. 19,000,000,000 $ Whoa! That’s the price at which this company was bought within 5 years of its establishment The Company is Whatsapp 3 Unit 2 Customer discovery
  • 4. 224,000,000,000 That’s a lot of customers 100+ Countries as the preferred platform! 500,000,000 users And users in India 4 Unit 2 Customer discovery
  • 5. Ways of starting new ventures ▪ new products/services for unmet needs ▪ existing products or services into totally new market or ▪ starting as a Franchisee of a well- established business 5 Unit 2 Customer discovery
  • 6. Characteristics of Entrepreneurial Opportunity ▪ Market-oriented ▪ Feasible ▪ Profit-oriented ▪ Specific ▪ Motivational ▪ Legal ▪ Ethical ▪ Convertible to Product 6 Unit 2 Customer discovery
  • 7. Steps in Opportunity identification Let’s start with the steps in Opportunity Identification 2 Unit 2 Customer discovery
  • 8. Steps in Opportunity identification ▪ Opportunity Search ▪ Opportunity Analysis ▪ Opportunity Selection 8 Unit 2 Customer discovery
  • 9. Sources of ideas for Opportunity! 9
  • 10. Sources of Idea for business opportunity 10 2 4 6 7 5 3 Existing products and Services • By reviewing, monitoring, evaluating existing products, services or markets • Combination of existing product/market and markets can generate simple business ideas • Combination of new products/services and new markets may generate difficult business ideas Trends • Economic trends • Government trends • Societal trends • Technological trends Government • Changes in govt policies,procedures, rules & regulations Distribution Channels • People working on supply chain know the exact position of the product in market • Wholesalers, Distributors, Retailers providing information related with the competition Research and Development • Formal R&D- within company Informal R&D- Entrepreneur himself or with the team • Research studies conducted by competiitors • In-house R&D efforts suitable for Large Strategic Changes • Strategic changes provide more opportunities, rewards,wealth & personal satisfaction 1 Consumers • Preferences & buying patterns of target consumers • Formal & Informal surveys using Questionnaires, face- to-face interviews 8 Exhibitions • Trade fairs shocasing new products/services • Presence of important salesman, distributors, franchisers,entrepreneurs Unit 2 Customer discovery
  • 11. Want Business Opportunities? Use this event as guide for ideas. 11
  • 12. 12
  • 13. Tools & Techniques of Opportunity search! 13
  • 14. ▪ Focus Group ▪ Brainstorming ▪ Reverse Brainstorming ▪ Check List ▪ Problem Inventory Analysis. Place your screenshot here 14 Tools & Techniques of Opportunity Search Unit 2 Customer discovery
  • 15. ▪ Information from publications ▪ Seminars & Conferences ▪ Discussion with People ▪ Day Dreaming & Fantisising ▪ Combination of Above methods Place your screenshot here 15 Tools & Techniques of Opportunity Search Unit 2 Customer discovery
  • 17. Ways to assess market opportunities ▪ Needs and Wants ▪ Current or New Market ▪ Target Market ▪ SWOT Analysis 17 Unit 2 Customer discovery
  • 18. Place your screenshot here 18 SWOT Analysis of DMart Unit 2 Customer discovery
  • 19. Tools & Techniques of Opportunity Analysis! 19
  • 20. ▪ Trend Analysis ▪ Demographic Analysis ▪ Gap Analysis Product Line gaps Distribution gaps Usage gaps Competitive gaps 20 Tools & Techniques of Opportunity Analysis
  • 22. Finalization of Business opportunity ▪ Total investment ▪ Return on investment ▪ Return on equity ▪ Expected sales volume ▪ Gains and Profitability 22 Unit 2 Customer discovery
  • 23. Next step towards finalization of Business opportunity ▪ Total investment in plant & machinery ▪ Possible sources of raw materials ▪ Facilities for infrastructure ▪ Project size ▪ Availability of manpower ▪ Amount of finances required ▪ Government policies & procedures regarding new venture ▪ Government incentives, subsidies, exemptions 23 Unit 2 Customer discovery
  • 24. Tools & Techniques of Opportunity Selection! 24
  • 25. Tools & Techniques of Selection Hits Hitting the most attractive, interesting, feasible, creative alternative as dots or hitmark Clustering Similar alternatives getting grouped together to avoid repetition Not more than 3 opportunities remain in a cluster Restating clusters Capturing a central theme of a cluster to express it in a single statement 25 Point Four-stage approach for evalution of opportunities ▪ Pluses ▪ Opportunities ▪ Issues ▪ New Thinking Card sort Ranking the given set of opportunities according to level of attractiveness with rank 1 as the most attractive business opportunity Evaluation matrix Criteria of Selection vs Business Opportunity in a grid matrix Application of rating scales like 1-5 or A-B----- Paired comparison analysis Comparing every alternative with other alternatives (1 as the most preferable, 2 as the next one, 3 as the least one opportunity) Unit 2 Customer discovery
  • 26. Market Intelligence Let’s start with the steps in Opportunity Identification 3
  • 27. “ “Market intelligence is the external data collected by a company about a specific market which it wishes to enter, to make decisions.” It is the first set of data which the company analyses before making any investment decision.. 27
  • 28. Importance of Market Intelligence ▪ To understand the position in the market ▪ To evaluate Product ▪ To know Target Audience ▪ To conduct Competitor Analysis 28 Unit 2 Customer discovery
  • 29. 29 Steps of improving Market intelligence: ▪ Train & motivate Sales-force ▪ Motivate Distributors, retailers, other intermediaries ▪ Network Externally ▪ Create Customer Advisory panel ▪ Optimal usage of Govt data resources ▪ Information bought from External suppliers ▪ Collect Competitive intelligence through online customer feedback
  • 30. Role of Marketing Intelligence ▪ Competitive advantage ▪ Product intelligence ▪ Marketing intelligence ▪ Consumer understanding 30 Unit 2 Customer discovery
  • 31. Market Analysis Let’s start with the process to identify the potential demand of your product 4
  • 32. “ “Market analysis is a documented investigation of a market that is used to inform a firm’s planning activities.” The goal of a market analysis is ▪ To determine the attractiveness of a market .. ▪ To understand evolving opportunities and threats to their product 32
  • 33. Role of Marketing Analysis in Decision-making ▪ Inventory management ▪ Purchase ▪ Workforce expansion ▪ Facility expansion ▪ Purchase of capital equipment ▪ Promotional activities 33 Unit 2 Customer discovery
  • 34. Dimensions of Market Analysis 34 MARKET SIZE MARKET STRUCTURE DISTRIBUTION CHANNEL MARKET PROFITABILITY INDUSTRY COST STRUCTURE GROWTH RATE/POTENTIAL MARKET TRENDS KEY SUCCESS FACTORS Insert your content Insert your content Insert your content Insert your content Insert your content Insert your content Insert your content Insert your content Unit 2 Customer discovery
  • 35. Market Analysis Process 35 3. Assess Market Trends 1. Industry Trends 2. Target Market Trends 3. Conduct Market Research 1. Identify Target Market Whom are we selling to? Who are our ideal customers? 1. Demographics 2. Psychographics 3. Niche Markets 2. Research the competition Who is competing with us? 1. Check-Out their Websites 2. Investigate Prices of their Products & Services 3. Determine who their Advertisers are Unit 2 Customer discovery
  • 36. Sub-sections of Market Analysis 36 Market research • Secondary research • Primary research Industry analysis • Total industry size • Growth potential • Standards & regulations affecting industry • Common costs & profit margins • Industry trends Customer analysis • Identify customer segments • Characterize each segment • Buying criteria of target market • Market niche • Size of market Competitor Analysis • Discuss the similarities and differences between product/service • Competitive advantage • Detailed description of main competitors Unit 2 Customer discovery
  • 37. INR 195 Whoa! That’s a big number in 2020 for Indian Soap Market, aren’t you proud? Your Assignment??..................... 37 billion
  • 38. Place your screenshot here 38 Soap: Market Analysis By type, the market is divided into: ▪ Organic ▪ Conventional On the basis of form, the market can be segmented into: ▪ Liquid ▪ Solid ▪ Others Unit 2 Customer discovery
  • 39. Place your screenshot here 39 Soap: Market Analysis ▪ Based on product, the industry can be segregated into: Bath Soap Kitchen Soap Medicated Soap Laundry Soap Others ▪ On the basis of distribution channel, the market can be distributed into: Supermarkets and Hypermarkets Convenience Stores Pharmacies Online Others
  • 40. ▪ Godrej Consumer Products Limited ▪ Hindustan Unilever Limited ▪ ITC Limited ▪ The Himalaya Drug Company ▪ Wipro Enterprises (P) Ltd ▪ Others Place your screenshot here 40 Key Industry Players in the India Soap Market Unit 2 Customer discovery
  • 41. 41 Can you identify the respective companies of these dishwashing soaps? Unit 2 Customer discovery
  • 42. Go-to-Market strategy Let’s start with the plan to succeed in new markets with new customers 5
  • 43. Definition & Meaning “A go-to-market (GTM) strategy is a plan that helps you position a new product or service for launch, define your ideal customers, and coordinate your messaging” ▪ Launching a new product in an existing market ▪ Launching an existing product in a new market ▪ Testing a new product's market for growth 43
  • 44. ▪ Digital marketing: Flipkart, Amazon, and Ola have used digital marketing to create brand awareness and drive customer acquisition. ▪ Partnerships and alliances: mobile wallet company Paytm has formed partnerships with various companies in the e- commerce, travel, and entertainment industries to offer discounts and cashback to customers. ▪ Sales promotions: Swiggy, a food delivery platform, has used referral programs and first-time user discounts to attract new customers. 44 Go-to-market strategy examples in India
  • 45. ▪ Localization: Xiaomi, a smartphone manufacturer, has customized its products and marketing campaigns to appeal to Indian consumers. The company has also established a local supply chain and after-sales service network to improve customer satisfaction. ▪ Brand ambassadors and influencers: Indian cricket captain Virat Kohli is a brand ambassador for Puma, while Bollywood actor Ranveer Singh promotes products for multiple brands. 45 Go-to-market strategy examples in India Unit 2 Customer discovery
  • 46. 46 Steps to creating a GTM strategy ▪ Define Target markets ▪ Define Target customrs ▪ Define Brand positioning ▪ Define the Offering ▪ Define the channels ▪ Build the Budget model ▪ Define Marketing strategy. Unit 2 Customer discovery
  • 47. Long Tail Markets Let’s start with the process to understand a strategy used by entrepreneurs 6
  • 48. Place your screenshot here 48 Long Tail markets- Meaning ▪ It focuses on selling low volumes of specialized products to many customers, rather than high volumes of a reduced number of popular items.. ▪ Invented by Chris Anderson in 2004 ▪ Argued that these goods with lower demand can actually increase in profitability Unit 2 Customer discovery
  • 49. Business Model Canvas Let’s start with the process to visualise different elements of business 7
  • 50. Definition & Meaning ▪ “Business Model Canvas is a Visual framework for describing the different elements of how a business works” ▪ Constitutes 9 elements ▪ Easy to alterations in visual areas 50 Unit 2 Customer discovery
  • 51. Meaning ▪ It attempts to answer: What the business does? Which resources it needs? How the Money flows? for whom ? with Whom? 51 Unit 2 Customer discovery
  • 52. Meaning ▪ Explains Four major aspects of Business Customers Offer Infrastructure Financial Viability 52 Unit 2 Customer discovery
  • 53. Business Model Canvas 53 Key Activities Insert your content Key Resources Insert your content Value Propositions Insert your content Customer Relationships Insert your content Channels Insert your content Customer Segments Insert your content Key Partners Insert your content Cost Structure Insert your content Revenue Streams Insert your content
  • 54. “ “Business Model Canvas is a documented investigation of a market that is used to inform a firm’s planning activities.” The goal of a market analysis is ▪ To determine the attractiveness of a market .. ▪ To understand evolving opportunities and threats to their product 54
  • 55. How big is Dish-washing detergent/soap market in india? 55
  • 56. INR 36 Whoa! That’s a big number in 2020 for Indian Dishwashing Market, aren’t you proud? Your Assignment??..................... 56 billion
  • 57. Thanks! Any questions? You can find me at ▪ sundeep.chaudhari@gmail.com 57