Mar 28 in Methods & Tools
New💡 The VALUE PROPOSITION FIT CYCLE
Introducing a new framework inspired by the Product Market Fit Cycle - Carlos Eduardo Espinal, that focuses on creating customer-centric value propositions for Product Managers or Innovation Managers.
Here's a breakdown of our framework:
🏁 Goal/Need: This initial step could be a specific business need, a broader north star goal, or even just an initial idea.
1. Product Hypothesis: Leveraging your understanding of the problem, business context, and past experiences, you develop a solution proposition – the hypothesis of what your product will be.
2. Ideal Target Segment: Here, data and analysis come into play. You refine your target customer segment to a specific group with the highest potential to benefit from your product hypothesis.
3. Problem Framing: This stage involves getting key stakeholders on board. Together, you define the specific problems your target segment faces, prioritize them, and identify the most crucial one your product will address.
4. Define the Value Proposition & Validate with Customers: This is where the Design Sprint happens. You rapidly create a prototype, present it to real users within your ideal target segment, and gather feedback. This stage validates whether your proposed solution (value proposition) actually solves their core problem effectively.
5. Analyze Results: You then assess the feedback from the design sprint. If there's early validation from customers – meaning they find your solution desirable and addresses their needs – you can move forward.
↗ Create Business Case: With positive validation, you can build a business case that justifies the resources needed to bring your product to market.
↘ Go Back & Iterate: With no customer validation, you'll investigate more about the root cause of the problem. Was you hypothesis wrong? Was your target customer segment wrong? or Both?
5
2 comments
New💡 The VALUE PROPOSITION FIT CYCLE
Public group
A place for facilitators to share tips and experiences on design sprints, problem-framing, and design thinking workshops.
Leaderboard (30-day)
1
+1
powered by