Taking a closer look at Product & Market Development to address the challenge of product market fit, utilize a new tool called "Value Proposition Canvas" and finally putting everything in context of the Lean Start Up Methodology. Online Course: https://t.co/g2O0nNBV52

1. Product & Market Development
Emad Saif Center For Entrepreneurship, Qatar University
Strategyzer.com/vpd

2. CHALLENGE: Product-Market-Fit
AGENDA
TOOL: Value Proposition Canvas
METHODOLOGY: Making it FIT

3. MIKE
•
Sales Manager
•
Age: 28
•
Always on the road Cares about efficiency & speed
MARYAM
•
Fashion Designer
•
Age: 35
•
Shows her work portfolio to clients in &outside office
MAHER
•
Senior Accountant
•
Age: 48
•
Works at office on spreadsheets
•
multi-tasks a lot
What should they use to send emails?
2,1
6,5,4
3

4. Product
Market
Value proposition
Customer profile
Product Market Development
Fit

5. Many
products
FAIL!
Strategyzer.com/vpd

6. Tool
to clarify
customer needs
& how to
create value
for them.
Strategyzer.com/vpd

7. Business Model Canvas

8. The set of value proposition benefits that you design to attract customers
The set of customer characteristics that you assume, observe and verify in the market

9. Value Proposition Canvas

10. Value Map & Customer Profile
Customer Profile
Value Map

11. Customer Profile
choose CUSTOMER SEGMENT first

12. Customer Jobs
Jobs describe the things your customers are trying to get done in their work or in their life
Functional jobs
(tasks)
Social jobs
(e.g. gain power / status)
Personal/Emotional jobs
(e.g. feel good)
Supporting jobs (e.g. communication)

13. Customer Pains
Pains describe anything that annoys your customers before, during, and after trying to get a job done or simply prevents them from getting a job done.
Undesired Costs & Situations
(time, money, underperformance, mistakes)
Negative Emotions (frustrations)
Risks
(technical, social, financial)

14. Customer Gains
Gains describe the outcomes and benefits your customers want. Some gains are required, expected, or desired by customers, and some would surprise them.
Required gains
Expected gains
Desired gains
Unexpected gains
(functional utility, social gains, positive emotions and cost savings)

15. Step into your customer shoes
Jobs
Pains
Gains

16. Ranking

17. Customer Profiling Summary
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18. Value Map

19. Products & Services
This is simply a list of what you offer
Physical / tangible
(e.g. manufactured goods, face-to-face customer service)
Intangible (e.g. copyrights, quality assurance)
Digital
(e.g. downloads, online recommendations)
Financial
(e.g. investment funds, financing services)

20. Pain Relievers
Pain relievers describe how exactly your products and services alleviate specific customer pains
How do your products / services eliminate or reduce negative emotions, undesired costs and situations and risks?

21. Gain Creators
Gain Creators describe how your products and services create customer gains
How do your products / services create benefits your customer expects, desires or would be surprised by?

22. Map how your products & services create value
Products & Services
Pains Relievers
Gains Creators

23. Ranking
Products & Services
Rank products & services from nice
to have to essential
Pain Relievers
Rank pains from nice
to have to essential
Gain Creators Rank gains from nice to have to essential

24. Value Mapping Summary
Strategyzer.com/vpd

25. create a VALUE PROPOSITION CANVAS
GEW Attendees
EXERCISE
???

26. Socialize
Attend Seminars
Take Notes
Eat
Promote self/org.
Pain of Multi-tasking
Hands full (bags & items)
Finding room location
Too Much Info to process
Seminars Too Long
Boring Seminars
Answer calls & emails
Make good connections
Get Inspired
Learn new things
Gain new skills
Free food
Free giveaways
Discover new opportunities
Escape Work
Fear time wasted
Engaging Seminars
Downloadable presentations
Pens & notepads
Spacious venue
Public Attendees List
Great topics & speakers
Directions & ushers to help
Meeting corners to meet and rest
Coffee Breaks
Event smartphone app
High profile speakers
Good food
Prizes
Internet Access
Interesting topics
Tweet signs to share thoughts
Tweet
GEW Attendees
GEW Smartphone App
Carry bags
Drop-off service

27. the

28. PRODUCT:
Home inspection device
Cracks in Foundation
Mold
Defective Electrical Wiring
Hidden Moisture
Startup Story
CUSTOMER SEGMENT:
Home inspectors
•
20% Time saving
•
80% Cheaper tool
•
Better quality inspection

29. Startup Story [After Customer Validation]
NO Product-Market FIT 
The GOOD
•
20% Time saving
•
80% Cheaper tool
•
Better quality inspection
The BAD
Home inspectors are GENERALISTS so the device increases their RISK!!

30. Listen to Customers
•
Interviews
•
Surveys
•
Questionnaires
•
Presentations
•
Direct observations

31. Types of Fit
Problem-Solution Fit Identify relevant customer jobs, pains, and gains you believe you can address with your value proposition
Product-Market Fit
Customers positively react to your value proposition and it gets traction in the market
Business Model Fit
You find a business model that is scalable & profitable
1.
2.
3.
Strategyzer.com/vpd

32. Check Your FIT

33. Strategyzer.com/vpd
Personal Items Drop-off Service
GEW Attendees
Secure their personal items (jackets, bags …etc.)
Avoiding
Burden of carrying or losing
enabling
Peace of mind to focus on the event
Other chaotic events

34. MVP

35. is minimum features of solution to solve customer problem
Minimal Viable Product (MVP)

36. MVP Example
Square offers the Square Reader, which allows users to accept credit card payments through their smart phones, is actually given to the customer for free. In turn, they receive 2.75% of the exchange.

37. Lean Startup Methodology

38. Summary
1.
Use Value Proposition Canvas to guess the customer profile and the value map
2.
Validate by talking to customers
3.
Create MVP
4.
Pivot

39. Further Reading
strategyzer.com/vpd

40. THANK
YOU!
Emad Saif Center for Entrepreneurship QATAR UNIVERSITY emadsaif@qu.edu.qa
Strategyzer.com/vpd