ch 15

Question 1

path from good idea to profitability

Answer 1

• good idea
• evaluate the ideas with wow focus group
• great idea– develop competitive angles
• profitability–executing best practices

Question 2

entrepreneurs can’t afford to buy success, they must do it the old fashion way–they earn it through. . .

Answer 2

creative, low cost tactics
embrace constraints and paly to strengths
ex: david and goliath

Question 3

creativity loves. . .

Answer 3

constraint

Question 4

five ways to find new ideas for products

Answer 4

Solve everyday pain
ride a wave of interest
stretch or entertain to the extreme
build on a commonplace product
cool hunting

Question 5

uniqueness =

Answer 5

relative advantage

Question 6

___________ and ___________ are the two biggest drivers of new product adoption

Answer 6

Relative advantage

fit with day to day

Question 7

relative advantage

Answer 7

Consumers see relative advantage when it is easy for them to understand how a product reduces pain or increases opportunity better than the current solution.

Question 8

what is a hurdle

Answer 8

barriers or obstacles that prevent consumers from

• satisfying a need
• soving a problem
• increasing pleasure
• capitalizing on an opportunity

Question 9

consumer insight

Answer 9

the capacity to gain an accurate and deep intuitive understanding of a consumer

Question 10

make consumer insights actionable

Answer 10

1- identify the persons in need
2- delineate the usage situation
3- define the need
4- describe the hurdle

Question 11

what is the situation statement

Answer 11

[target persons] in a [specific situation] what to satisfy a [certain need] but cannot becuase of a [hurdle].

Question 12

white hat

Answer 12

facts–what are the facts?

Question 13

red hat

Answer 13

emotions–Is there a wow factor?

Question 14

yellow hat

Answer 14

positive judgement–what works?

Question 15

black hat

Answer 15

critical judgment–what is broken?

Question 16

green hat

Answer 16

creativity–how can we make it better?

Question 17

blue hat

Answer 17

summary–what did we learn?

Question 18

With the specified consumer insight, entrepreneurs can increase their chance for success by:

Answer 18

1- defining the total addressable market
2- highlighting uniqueness
3- demonstrating exceptional value
4- building believability features
5- provide quantifiable support