Below you’ll find an overview of your current value proposition, seen from the eyes of the customer. Also, you will find an Expert Review of your proposition based on 6 different specifications. These product specifications are a direct results of your VP-decisions. Also, you’ll find your current product-market fit.
Below you’ll find information about your customer segment. The higher your research score, the more you’ll uncover about the customer segment.
1. strategy: – as we invested in the last two rounds in the static segments (Partners, Activities and Resources) we do not need to worry about a decrease in these segments and we can focus on the right side of the BMC. Therefore we invest in the segment Value Proposition in these features that were compatible with our persona. – we focus on investing in the features that give us good reviews and help us grow – we are now starting to focus on the design and style of our product to enhance the sales 2. consistency: we have developed a consistent strategy by investing in only the important features in value proposition as well as focus on important and valuable research options that bring us a lot of usage data and knowledge about our customers and their needs 3. marketing strategy: Smothes focuses on promoting through famous travel influencers and bloggers. We also invest in SEO as well as online marketing to increase our target group and get more traffic on our website. Furthermore in the longterm view Smothes will also sponsor outdoor activities e.g. rock-climbing and events such as ironman. 4. Scaling up: We want to use it as an iconic product e.g. phone so they can use it in the day-to-day life as well as on adventures. Furthermore it is a premium product so our target group have a higher trust in our product and quality. 5. unfair advantage: our product is more flexible compared to the others because we cover more features than the others. we have a wider range of features that we can offer our customer because we use disruptive technology it is very hard to copy and duplicate our product
Q1: Same as before (thank you for the tip) Q2: Yes, no Q3: Huge investment to get a big kick in sales Q4: quality, marketing, functionality, cost leadership Q5: market fit, sales pipeline
1. Explain your product idea in a few sentences. What is your unique value proposition, why is your solution different than solutions of other teams and worth paying attention to? Our App/Bracelet Provides accurate Health Tracking in combination with peoples Lifestyle. Further on it is multi-functional and delivers detailed recommendations on how to improve a healthy lifestyle and try to avoid serious illnesses. Our product offers our target market a personalized and simplified way of staying healthy and productive by not only keeping track of medical records, however we also connect our customers with specialists to improve their health conditions or prevent them from diseases. Competitive advantage: • Affordable, because customers can choose between the App (if they already have a smartwatch) or a connected bracelet. • We provide direct connection with specialists (large network with doctors and labs) • Multifunctionality (analysis of genes) • Alliance with Insurance. 2. How will you change your strategy this round? Explain how and why you divided your budget over the different building blocks of the canvas. Most importantly, we focused on a more specialized strategy by covering our persona’s needs in the value proposition. We invested larger amounts in fewer segments. Moreover, we also invested more in research concerning physical actions to improve our visibility as we are a start-up. We also invested more in resources concerning skills and attitude. 3. Did you change your perspective on the customer segment? What ‘unfair advantages’ do you have over your competitors in trying to reach them? We did not change our perspective on our customers segment, we just focused more on its needs and expectations. Unfair advantages: • Our partners • Our adaptation and personalization 4. What is your revenue model? How does that align to the VP and CS? Who pays and what’s paid for: customers pay for • Subscriptions • Bracelets • Retail of bracelets 5. Is your team ready for growth? What skills do you need in order to improve your team? In order to grow as a team, we still need to improve in terms of communication, empathy, internal management, further research and implementation.
1. Round 1: We focused entirely on Value Proposition and to make it PremiumTeam Round 2: We reduced our credits on Customer Segment to put more credits on Resources and lost track of our Persona. Round 3: We tried our level best to pay attention on our persona and still came in last. We are unsure why did that happen. 2. It is not consistent. A member of our team believes that we put too much credits on premium, maybe we will change that in this round and see the results. 3. In this round, we pay attention more on Customer Segments, we invest more credits on customer lifestyle studies, and also put some on Competitive Analysis in order to discover more about the behaviors of customers before their decision to buy, right when they want to buy and their behaviors after they buy the products. Therefore, we hope to run a marketing strategy based on their experiences that we have discovered before. Taking advantage of the technology, we focus on online channels to advertising, also direct mail, and because she wants private environments, so we also advertise our products via blogging. We hope that if we run this campaign, our products would have more chances to be visible to potential customers who like to experience our products and reach our expected number of sales 4. Growth Strategy: 100% focus on Persona and Value Proposition. 5. Our current unfair advantage for the moment is the fact that we are last in the product market fit, two teams are at 100%. We let those unfair advantages happen because we were wrongly focusing on the wrong ideas. For this round we tried using our persona only to create the perfect fit for her and possibly will be able fill the gaps to dismiss this advantage that the others have over us.
Please submit the answers of the assignment here…What is your strategy for the last two rounds? 1.We have kept our same strategy in round 2 and round 3 to get high product market fit + research but in round 4 we are pivoting a bit. In round 4 we are investing in our team and relationships. Is your strategy internally consistent? In other words: are team members who believe a different approach might also work? 2.We are all on the same page for the most part. We pivot if someone wants to pivot – we are adaptive team. Describe your marketing strategy. What is your prognosis for sales? 3.Blogging is our main strategy. We are choosing investments that we believe will align with our persona (Networker). What growth strategy would you like to use? How are you going to scale up? 4.Lean Management and Strategic Planning. We will scale up by having a strategic plan and product. We will leverage our great customer service and relationship management. We will have behavioural targeting to focus on specific relationships. What are your current unfair advantages compared to the other teams? Why do you believe they are unfair advantages? 5.We were risky in previous rounds. However, now we have taken on less risk but hope to take on more. We are only one of two groups with high product market fit and very high demand for our products. We have high sales.
Throughout the game, you’ll have the chance to increase your expertise on your key resources, activities and partners. The better your performance, the more likely you’ll be to achieve finance in the last round.
Below you’ll find an overview of your sales funnel and capital injections – a direct results of your investments in marketing & sales.
Below, you’ll find some extra awards that are handed out throughout the game and your overall EntrePulse.