Startup Success: Customer Discovery and Validation
Business Model
A business model describes the rationale of how an organization creates, delivers, and captures value. The entrepreneur’s task is to find a successful business model as quickly and effectively as possible.
Opportunity
Customer Discovery Process
1. Turn Your Guesses into Testable Hypotheses
2. Test the Problem
a) Understand your customer: “A day in the life of…” “problem, right here”. How are they solving it today? What are you enhancing or replacing? Customer segmentation and targeting.
Innovation and Design Thinking: A Comprehensive Approach
Innovation Drivers
Creating a sense of urgency involves establishing new organizational goals and generating new ideas for meeting these goals. This can be a resource, process, or condition that is vital for the continued success and growth of a firm.
External Drivers
- Technological advances
- Changes in customer needs
- Changes in environments and contexts
- Intensified competition
Internal Drivers
- Strategic intent of the firm (vision, goals set, ambitions, adequate strategy)
- Organizational factors (leadership,
Effective Social Media Strategy for Business Success
Introduction to Social Media Marketing
Introduction: Online social networks have created a new relationship space between customers and brands where the user has the power. In this context, companies go from only offering traditional products or services to participating in conversations that really bring value and interesting content to users.
Interactive Marketing and Listening Skills:
- Ability to listen to everything concerning clients.
- Practicing interactive conversations.
Social Media Plan
What is
Read MoreWebsite Traffic and Analytics: Key Insights
Understanding Website Traffic and Analytics
What Would You Use Google Analytics For?
Google Analytics is a free website analytics service offered by Google. I would use it to gain insights into how users find and use my website. Google Analytics helps track the ROI for online marketing. Google Analytics also helps make data-driven decisions. You can justify spending more on advertising, discover where you should be advertising, and even determine what types of content you need to share.
What 3 Things
Read MoreDigital Platforms: Types and Competitive Landscape
Digital Platforms
For cities to become smart, businesses must be disrupted, workers are to become flexible, and governments are to become lean and intelligent. If data has become a massive new raw material for capitalism, then platforms are the engines that allow it to process this data.
Advertising Platforms
(e.g., Google, Facebook), which extract information from users, analyze it, and use the outcome of that process to sell advertising.
Cloud Platforms
(e.g., AWS, Salesforce), which own the hardware
Marketing Evolution, Consumer Behavior, and Market Segmentation
Marketing’s Evolution and Business Success
A1) Question 1 (20 Points) The practice of marketing and its importance for business success have changed significantly over the years. Initially, production exceeded demand, leading to a supplier-driven market. The focus then shifted to sales, innovation, and competition in a more demanding market. Bottlenecks in market segments led to the identification and creation of new segments, emphasizing customer needs. Since 2010, the focus has been on individuality
Read More