Opportunity Assessment – What sort of market are we in? One sided, two sided – What is the...
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Transcript of Opportunity Assessment – What sort of market are we in? One sided, two sided – What is the...
![Page 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.](https://reader035.fdocuments.us/reader035/viewer/2022081602/551acb6f5503466b6a8b51d8/html5/thumbnails/1.jpg)
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?
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Competition as an influence
• Pure competition• Oligopoloy• Monopoloy
Nature of Market
How they will react?
What is their product? What are their costs and prices? “What pricing will make them feel
the worst?”
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• 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
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“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
4
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5:Service Journey V0.1:
MAP 1: day in the lifeOf the customer
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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?
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Market Adoptio
n
Key Opinion Leaders (KOLs)
Medical Journals
Continuing Medical
Education
Conferences
Breast Cancer Advocacy Groups
American College of
Obstetricians and
Gynecologists (ACOG)
MammOpticsMarketing
MAP 2: INFLUNCE ECOSYSTEMA draft marketing and sales ecosystemAdd their roles and connections
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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 Get in Get,Keep, Grow
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
RadiologistMammography
MammOpticsCustomer Workflow
Current market Insurance
Map 3: workflow and customerBehaviour as it impacts buyingdecisions
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
RadiologistMammography
MammOpticsCustomer Workflow
Current market
But what would happen if we replace mammography?
Insurance
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
Radiologist
Mammography
MammOpticsCustomer Workflow
Breast Radiologists
Technicians Hospitals
Loss of jobs
Loss of jobs Eliminates loss leaderPuts emphasis on
biopsies
Insurance
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
Radiologist
Mammography
MammOpticsCustomer Workflow
InsuranceSame cost as mammography
($140)Reduced number of biopsies
($1000)
ACOG/ACSImproved healthcare(mammography weak
technique)
Insurance
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MammOpticsHospital purchasing decision tree
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Finding white space:from tech functions to customer benefits
feature feature feature feature
(benefit) (benefit) (benefit) (benefit)
US
Comp 1
Comp 2
Comp 3
Sub 1
Sub 2
Sub 3
etc
Tip 1: include substitutes as well as competitorsTip 2: think about the customer job to be done: pains removed, utility gains madeTips 3: Features are reasons to believe benefit claims
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MammOpticsTechnology Comparison
RiskInvasiveness
Resolution
False Pos.
False Neg.
Device Cost
Time Require
d
MammOptics
Mammography
High High .6 cm 25% 30% 20-50k 20 min.
MRI Medium Medium .1 cm 70% 5% 1000k 45 min.
Ultra-Sound Very Low Very Low >.6 cm >30% >40% 5-15k 20 min.
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Where is the money coming from?Revenue Model Choices
Bits
Physical
Product
Web Physical
Channel
Direct Sales Products Subscription Upsell/Next Sell
Ancillary Sales:• Referral revenue • Affiliate revenue• E-mail list rentals• Back-end offers
Direct Sales Products Service Upsell/Next Sell
Referrals Leasing
Direct Sales Products Subscription Add-on services Upsell/Next Sell
Referrals
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How do we price the product?Pricing Model Choices
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How do we price the product?
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• Product-based pricing• Competitive pricing• Volume pricing• Value pricing• Portfolio pricing• The “razor/razor blade” model• Subscription• Time/Hourly Billing• Leasing
Pricing Models - Physical
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Competitors and impact on demand
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Your market penetration ambitions?
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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