Design Chapter Flashcards
Building buisness model through customer insights
The purpose is to understand a customers desires, goals, how they will use our products in their daily routine, what they are willing to pay for them, how they want to be reached and their expected relationship with us. You can do this by observing them shop for your good, or interact with them through a sales force or directly through random meetings and shop visits.
Ideation
This is the process of generating ideas using particular epicents of innovation (finance, offer driven etc.) and then isolating these ideas based on feasibility in a process known as synthesis. The 5 step process of doing this involves composing the right team, researching the right market features, generating as many ideas as possible, isolating based on a particular criteria and producing as many buisness model examples as possible.
Visual thinking
This involves drawing out a buisness model which makes it easier to understand, make connections between parts and increase creativity and exploration of ideas.
Prototyping
This involves constructing a physical model of the product which gives the team a good understanding of how big it is, if it’s easy to use, and how attractive it appears.
Scenarios
This involves coming up with as many situations as possible involving consumer interaction(how they will use it, what they desire from it, what are their concerns about it etc.) and future competitiors and how the buisness model will respond or must change to respond to these situations.
Empathy test
This is a multiple aspect test where executives try to understand consumer:
- Thoughts and feelings
- Worries and aspirations
- Pains and wants
- Behavior and how they interact with other people
- Hear, see, and who they spend time with
To get a better understanding of what problems consumers need to solve
Procedure to Understand consumers thoughts feelings and behavior to get a better understanding in how they want the product to improve or which product they want.
