Lesson Learned : Class 4

Hello Everyone!

 

Every group gave presentation on their business idea on the topics we have discussed before. 

 

We have learned many things in this class like 

 

·                     SWOT Analysis

·                     Communication channels 

• Free communication channels
• Paid Communication channels

·                     Revenue Sources

• Direct Revenue 
• Indirect Revenue

·                     Drip Marketing 

·                     Viral Marketing

·                     Pricing model

• Cost based
• Value based

As far as our learning are concern, we analysed many things this time.

 

1.            We sat and discussed about our strength and how we are differentiating ourselves. We discussed about how to create value and deliver to the customer through our services. Moreover we found out there are many threats from our competitor which we found out through SWOT analysis. We had never thought so many threats will come out of the analysis. Also, the opportunities are great in our business model because we found that there are not many companies exist in market which are providing services like us.

 

2.            We then discussed about Marketing Channels, though we know many of them before, but after discussion of the discussion we shortlisted some which are more effective in reaching our customers.

 

3.            We learned the most important aspect the revenue. We came out with two new things from discussion. First the subscription and selling space on or website. We also thought about selling tickets through our website but we do not wish to introduce it right now, as it will be a completely new business model, it may be introduced in the later phase or in the future.

4.            We learned how to better quantify our testings methods thorough hypothesis of channel, revenue source and relationship with customer.

This analysis of the class was a great learning experience, which will help us in future practical scenarios.

 

Thanks for reading the blog.

 

 

Happy learning.

Lesson Learned : Class 3

Hi Everyone!

Last class we had the pleasure to present our Hypothesis Form. Everyone made a short presentation explaining their strategy, especially for Value Propositions & Revenues Streams. He explain how he will test them, how risky it is and how can we measure it.

After doing our presentations, we learned about the importance of Problem, Solution and Market Fit, the P-S-M matrix. We then learned about the importance of mesuring a customer's problem and how to answer it by proposing a solution which lead us to success. We quickly spoke about the importance of being focus on B2B or B2C. It's always better to be focus !!

We also learned the importance of SWOT matrix, which is a tool we really know in business School, by using it very often !

We then learned about the EMPATHY MAP :

The Empathy Map provides insight into key players who are necessary for your company’s success.

Mister Lucena de Faria teach us how to use it, fill it and we saw some examples of « Pains » and « Gains ». Because we don't have enough time, we go quickly to the other section : Day-in-the-life, which explain our customer's lifestyles, need and schedule. An other good tool is the « Personas ». It explain the profile of our customers, by using the day-in-the-life and the customers' objectives.

We’ve also learned how to make a script for the Solution Interview.

Finally we talked about the Value Curve and how to identify it with attributes.

 “Strategy is defined by what you won't do. Excellence is defined by what you won't do well. ”

-Frances Frei, Harvard Business School