How significant is the problem for them?

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Learning Goal: I’m working on a entrepreneurship writing question and need an explanation and answer to help me learn.Customer Discovery – See the attached Model Paper for IA4 to know how to format your assignment The assignment for this week is based on this article by Mike Fishbein.Please read the instructions before starting the assignment.This assignment asks you to prepare an interview guide and practice that with one or two people in preparation of the Mid-term exam where you will have to write a report based on interviewing 3 potential customers. From that perspective, I would also like you to contact four potential customers matching the descriptions that you have provided in the Business Model Canvas and list them in this assignment. It will help you to be ready for next week. After all, people need some advance notice to schedule time to speak with you. It is always good to have more than 3 people lined up so that you have a backup in case one of them is unable to meet you next week. That is why in the survey link in the announcement, I have suggested trying to set up appointments with at least four potential customers/decision-makers.This week’s assignment has a model paper where there are two segments being compared..The customer development process is a process of discovery. Remember we had started with assumptions on what we think would be “good value” for customers. When we are trying to test our assumptions we have to keep our questions open-ended and understand if, indeed, your assumption is correct and what would be perceived as “good value” for your customers. Please read the article to come up with a set of questions that you would ask. Go through all the areas listed in the article and make it as comprehensive as possible. Start with listing all the hypotheses (assumptions) that you have in your mind in terms of what will make your product/service successful. Then make sure that all the sections listed in the article are covered. I would expect to see 8 sections in your assignment. 5 bonus points if you do a test run with a potential customer so that you can practice and get comfortable with the process. Let me know the customers’ names in your assignment.1. Hypotheses – Your assumptions on what you think will make your product/service more successful in comparison to competitors2. Customer Segmentation: Describe who your customers are in terms of demographics, motivations, benefits they are seeking3. Problem Discovery – Learn about their problems4. Problem Validation – Are the problems that you assumed they had really true? How significant is the problem for them? You may find that the problems customers really face are different from the ones that you hypothesized. That’s fine.5. Product Discovery – Open-ended questions to understand how customers see their problems being solved. This may lead you to find alternate solutions to customer problems.6. Product Validation – If the solution that you had thought of (or the customer has suggested in step 5) were available, what would be the customer’s response7. Product Optimization – how can the product/service that you or the customer envisioned as adding real value can be fine-tuned in relation to competing products/services8. Ending Questions – Confirm your take aways from the customer interview9. Names of three potential customers

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