Achieve value innovation by following the right sequence
- ** Create a strategic profile.**
Start by creating a strategic profile that passes the initial litmus test of being focused, being divergent, and having a compelling tagline that speaks to buyers.
- ** Assess buyer utility.**
The "buyer utility map" can help you understand the different levers you can pull to deliver exceptional utility to buyers and the various experiences buyers can have with the product or service. You can use this to identify the full range of utility spaces that a product or service can potentially fill. Ask a set of questions to gauge the quality of buyers’ experience at each stage of the buyer experience cycle.
- ** Set the right strategic price.**
Ensure that the offering is priced to attract the mass of target buyers so that they have a compelling ability to pay for it.
- ** Secure the profit side.**
Ensure that the company can produce the offering at the target cost and still earn a healthy profit margin.
- ** Address adoption hurdles.**
Identify and address adoption hurdles in the beginning to ensure the successful actualization of the idea.
- ** Identify the target mass.**
Understand the target market and the mass of buyers that will be attracted to the offering.
- ** Test for exceptional utility.**
Test your offering to ensure it creates new and exceptional utility.
No insights yet
Our mobile app, Mentorist, will guide you on how to acquire this skill.
If you have the app installed