Business benefits
Improve your market share and build a beachhead to use for further expansion.
Conduct market research to identify a pain point that was blocking your customers before they found your product.
Pick a market category that you think your product can dominate.
List the behaviors that customers usually expect from businesses in that category. Include the 4 Ps: Product, Price, Place, and Promotion.
Map a typical buyer experience cycle in the market category, using a buyer utility map.
| Purchase | Delivery | Use | Supplements | Maintenance | Disposal | |
|---|---|---|---|---|---|---|
| Customer productivity | 𐩒 | |||||
| Simplicity | 𐩒 | x | ||||
| Convenience | 𐩒 | x | ||||
| Risk | ||||||
| Fun and image | ||||||
| Environmental friendliness |
x: Utility space that the market currently focuses on.
𐩒: Pain point that blocks customer utility.
Sort the category behaviors you identified into themes and select 3-8 that you think show the most potential for giving you an advantage.
For example, something that annoys you, or something you want to change.
Brainstorm ideas about how your brand could become the only solution to the common enemy in the category, using the behaviors you identified.
Write a summary that reflects the only solution using this formula: [Product] is the only [solution type] that addresses [common enemy] for [minimum viable market].
Last edited by @hesh_fekry 2023-11-14T10:05:06Z