Week 4: Business plan development- part 2 Flashcards
Conduct surveys or interviews with potential customers to gather their opinions and insights. Ask about their
pain points, challenges, and frustrations in the relevant area
CUSTOMER SURVEY AND FEEDBACK
Study your competitors to identify gaps in their offerings. Are there areas where they are falling short in meeting customer needs? This can help you find opportunities for improvement or
differentiation.
COMPETITOR ANALYSIS
to understand market trends,
customer behavior, and emerging opportunities. Look for underserved or
growing segments
Market Research
Listen to
discussions, questions, and complaints to
identify common issues and needs.
ONLINE COMMUNITIES AND
FORUMS
Pay attention to both positive and negative
feedback to identify areas where
improvements can be made.
CUSTOMER REVIEWS AND
TESTIMONIALS
Observe how potential customers go
about their daily lives and interact with
existing products or services. This can
reveal unmet needs that they might not
explicitly express.
OBSERVATION AND
ETHNOGRAPHIC RESEARCH
_______ and test it with a
select group of users. Their feedback can
help you refine your offering to better
meet their need
PROTOTYPE OR MVP TESTING
Attend industry-specific events to network and gain insights into current trends, challenges, and opportunities. Engage in conversations with industry
experts and peers
INDUSTRY CONFERENCES AND
TRADE SHOWS
Organize brainstorming sessions or
workshops with your team or potential
customers to collectively identify
challenges and potential solutions.
PROBLEM – SOLVING WORKSHOPS
Seek advice from industry experts,
mentors, or advisors who have deep
knowledge of the market. They may
provide valuable insights and guidance
COLLABORATION WITH EXPERTS
Analyze available data, such as
market reports, sales data, and customer
demographics, to identify patterns and
trends that may indicate unmet needs
Data analysis
New technologies often create
opportunities to address previously unmet
needs
. EMERGING TECHNOLOGIES
Monitor the external business
environment, including economic, social,
and political factors, for changes that
might create new needs or problems to
solve.
ENVIRONMENTAL SCANNING
If you have a personal interest or
expertise in a specific area, it may give
you unique insights into unmet needs or
problems that others have overlooked
LEVERAGE YOUR PASSION AND
EXPERTISE
Review customer complaints, support
requests, and inquiries to identify
recurring issues or challenges customers
are facing
CUSTOMER COMPLAINTS AND
SUPPORT REQUESTS
