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Opportunity Assessment

Opportunity Assessment. What sort of market are we in? One sided, two sided What is the demand ? Users? Dollars? Does our product/service solve a problem that somebody cares about – enough to change their behaviour and spending?. Competition as an influence. Nature of Market.

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Opportunity Assessment

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  1. Opportunity Assessment • What sort of market are we in? • One sided, two sided • What is the demand? • Users? • Dollars? • Does our product/service solve a problem that somebody cares about – enough to change their behaviour and spending?

  2. Competition as an influence Nature of Market • What is their product? • What are their costs and prices? • “What pricing will make them feel the worst?” How they will react? Pure competition Oligopoloy Monopoloy

  3. Map 1: service journey or “day in the life of the customer” • Map 2: influence ecosystem • Map 3: customer workflow as it impacts the purchase process

  4. “Service/Product” Journey or “day in the life” of a customer • “Who Is Your Customer or Customers?” • :idea: Sketch Your Product and the People it “touches” through it’s usage. • Often it is difficult to determine who is your customer. The service journey gives you a “top level” insight. • Link to Mkt R/S course

  5. MAP 1: day in the life Of the customer :Service Journey V0.1:

  6. A day in the life of your customer(think user) • Once you’ve focused in on who your customer really is, can you describe (and sketch) a day in their life? In detail? • What do they do? How do they do it? • What are their pains? • And potential gains? • What would change if your product/service was adopted?

  7. MAP 2: INFLUNCE ECOSYSTEM A draft marketing and sales ecosystem Add their roles and connections MammOptics Marketing

  8. Customer Ecosystem (A start on channels and customer relationships) • Can you identify the multiple players in the customer decision network? • Their roles? • And how they inter-connect? • How are you going to get to your customer? • Information • Access • Physical vs. web/mobile • Map the ecosystem for • Marketing • Sales • Distribution • Thinking about Getin Get,Keep, Grow

  9. Map 3: workflow and customer Behaviour as it impacts buying decisions MammOptics Customer Workflow Current market Insurance Mammography Radiologist Technician Hospital Administration ACOG ACS Doctor specialty committee

  10. MammOptics Customer Workflow Current market But what would happen if we replace mammography? Insurance Mammography Radiologist Technician Hospital Administration ACOG ACS Doctor specialty committee

  11. MammOptics Customer Workflow Insurance Mammography Radiologist Breast Radiologists Hospitals Technicians Loss of jobs Eliminates loss leader Puts emphasis on biopsies Loss of jobs Technician Hospital Administration ACOG ACS Doctor specialty committee

  12. MammOptics Customer Workflow Insurance Mammography Radiologist Insurance ACOG/ACS Same cost as mammography ($140) Reduced number of biopsies ($1000) Improved healthcare (mammography weak technique) Technician Hospital Administration ACOG ACS Doctor specialty committee

  13. MammOptics Hospital purchasing decision tree

  14. Finding white space:from tech functions to customer benefits Tip 1: include substitutes as well as competitors Tip 2: think about the customer job to be done: pains removed, utility gains made Tips 3: Features are reasons to believe benefit claims

  15. MammOptics Technology Comparison

  16. Where is the money coming from? Revenue Model Choices • Channel • Web • Physical • Direct Sales • Products • Subscription • Add-on services • Upsell/Next Sell • Referrals • Direct Sales • Products • Subscription • Upsell/Next Sell • Ancillary Sales: • Referral revenue • Affiliate revenue • E-mail list rentals • Back-end offers • Bits • Product • Direct Sales • Products • Service • Upsell/Next Sell • Referrals • Leasing • Physical

  17. How do we price the product? Pricing Model Choices

  18. How do we price the product? Pricing Models - Physical Product-based pricing Competitive pricing Volume pricing Value pricing Portfolio pricing The “razor/razor blade” model Subscription Time/Hourly Billing Leasing 18

  19. Competitors and impact on demand

  20. Your market penetration ambitions?

  21. Customer Discovery: Exit Criteria • What are our customers top problems? • How much will they pay to solve them • Does our product concept solve them? • Do customers agree? • How much will they pay • Can we draw a day-in-the-life of a customer • before & after your product • Can we draw the org chart of users & buyers

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