TEC101 Group 4 Customer Development Plan 2

It is a systematic process that refers to a step-by-step cycle of activities that organizations undertake for the discovery, testing, and validation of assumptions about their businesses.

• Customer Development

• Customer Discovery

• Lo-fi Teesting

• Journey Mapping

• Business Hypothesis

is the primary and iterative process of assessing the customer’s situations, needs, and pain points.

• Customer Development

• Customer Discovery

• Lo-fi Teesting

• Journey Mapping

• Business Hypothesis

It also involves understanding and defining personas seeking to produce new products. This discovery is said to encompass the entire customer journey

• Customer Development

• Customer Discovery

• Lo-fi Teesting

• Journey Mapping

• Business Hypothesis

This helps business owners ensure that the designs are feasible while gaining additional insights into how customers interact with the proposed solution.

• Customer Development

• Customer Discovery

• Lo-fi Teesting

• Journey Mapping

• Business Hypothesis

outlines the complete process that an ideal customer encounters, starting from the initial until the final purchasing process.

• Customer Development

• Customer Discovery

• Lo-fi Teesting

• Journey Mapping

• Business Hypothesis

This visual illustration could serve as a guide in pinpointing the most significant challenges customers may face and in turn, create potential solutions for such.

• Customer Development

• Customer Discovery

• Lo-fi Teesting

• Journey Mapping

• Business Hypothesis

A fundamental foundation where the value proposition, business model, and strategy are predicted and well-defined.

• Customer Development

• Customer Discovery

• Lo-fi Teesting

• Journey Mapping

• Business Hypothesis

involves testing and gathering feedback from potential customers to ensure that the product or feature solves a real problem, meets a real need, and provides real value.

• Customer Validation

• Customer Creation

• Customer Segment

• Customer Development Plan

Is the final stage of the customer development model, focused on attracting and converting potential customers into paying clients.

• Customer Validation

• Customer Creation

• Customer Segment

• Customer Development Plan

A single supplier controls the entire market with no competition, allowing them to set high prices and limit accessibility.

• Monopoly Market

• Oligopoly Market

• Competition Market

• Perfect Competition Market