Goal of phase 1f: As a precursor to coming up with company and product positioning you are going to ask
some preliminary questions about the competitive environment.
Author:
Approval:
Presenter:
Time / Effort:
Business Execution, Business Visionary
Entire Founding Team
Business Execution
2-3 days of authoring by VP Business Execution or Business Visionary, 1/4 day
presentation/strategy meeting with founding team and executive staff
- Why will customers buy your product
I. Your product is something they need but they don't know it yet
2. Your product can do something they need and they can only get via multiple vendors
3. You solve a real, definable pain that they cannot solve any other way. If so, how?
4. Our product is faster/cheaper/better than anything else out there. If so, you believe your superiority
will last multiple generations because ... ?
5 . Our product allow them to do something they could never do before
- Why are you different?
I . New Market (selling to new users who have no comparable product)
2. Better Features?
3. Better Performance?
4. Better Channel?
5 . Better Price?
- If this were a grocery store, which products would be shelved next to it?
- Who are your closest competitors today?
1. In Features
2. In Performance
3. In channel
4. In price
- What do you like most about the competitor's product?
1. What do your customers like most about the competitor's product?
2. If you could change one thing in a competitor's product, what would it be?
- Who in a company uses the competitors' products today?
1. By title? By function?
- How do these competitive products get used?
I. Describe the workflow/design flow for an end user
2. Describe how it effects the company
3. What percentage of their time is spent using the product
4. How mission critical is it?
Goal of phase 1f: As a precursor to coming up with company and product positioning you are going to ask
some preliminary questions about the competitive environment.
Author:
Approval:
Presenter:
Time / Effort:
Business Execution, Business Visionary
Entire Founding Team
Business Execution
2-3 days of authoring by VP Business Execution or Business Visionary, 1/4 day
presentation/strategy meeting with founding team and executive staff
- Why will customers buy your product
I. Your product is something they need but they don't know it yet
2. Your product can do something they need and they can only get via multiple vendors
3. You solve a real, definable pain that they cannot solve any other way. If so, how?
4. Our product is faster/cheaper/better than anything else out there. If so, you believe your superiority
will last multiple generations because ... ?
5 . Our product allow them to do something they could never do before
- Why are you different?
I . New Market (selling to new users who have no comparable product)
2. Better Features?
3. Better Performance?
4. Better Channel?
5 . Better Price?
- If this were a grocery store, which products would be shelved next to it?
- Who are your closest competitors today?
1. In Features
2. In Performance
3. In channel
4. In price
- What do you like most about the competitor's product?
1. What do your customers like most about the competitor's product?
2. If you could change one thing in a competitor's product, what would it be?
- Who in a company uses the competitors' products today?
1. By title? By function?
- How do these competitive products get used?
I. Describe the workflow/design flow for an end user
2. Describe how it effects the company
3. What percentage of their time is spent using the product
4. How mission critical is it?
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