![Page 1: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/1.jpg)
Working on your...
MVP Gen2
Product Acceptance
OR ?
worried about...
![Page 2: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/2.jpg)
I don’t need it I don’t understand it I won’t pay for it I won’t recommend it
The face of Market Risk
![Page 3: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/3.jpg)
Impossible to mitigate in house Irrational by human nature Hard to quantify Unpredictable path to solution Susceptible to opinions and intuitions
Challenges of Market Risk
![Page 4: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/4.jpg)
Market risk is comprised of 2 types:
Category risk impacts all
players
Private risk Product-Market
my fit
![Page 5: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/5.jpg)
Your business inherits inherent risks of your category • User expectations • Product economics & lifecycle • Retail & channel partners power • Regulation • Supply chain & Production • Technology dependencies & hurdles • Investment & ROI cycles
![Page 6: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/6.jpg)
https://9to5mac.com/2016/04/11/apple-watch-sales-
2015-2016/
http://appleinsider.com/articles/16/06/16/jp-morgan-
downgrades-apple-stock-expectations-on-negative-
macro-trends-apple-watch-forecast
http://www.dailymail.co.uk/sciencetech/article-
3147047/Will-Apple-Watch-flop-Analyst-drops-sales-
predictions-3-MILLION-figures-suggest-s-popular-
iPod.html
Nobody is immune to market risk
![Page 7: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/7.jpg)
Nobody is immune to market risk
![Page 8: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/8.jpg)
by
RESEARCH
YOU CAN Mitigate your Private risk
The Good News
![Page 9: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/9.jpg)
Diabetes algorithm go to market
![Page 10: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/10.jpg)
Empathy
Planning Logic
![Page 11: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/11.jpg)
Empathy – listening to needs and pains
http://www.bresslergroup.com/wp-content/uploads/2015/11/header_empathy_1.png
![Page 12: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/12.jpg)
“...people don’t know what they want until
you show them” Steve Jobs
(so don’t ask them what
they want!)
![Page 13: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/13.jpg)
Don’t ask me
About my pains What frustrates me?
Where do I get stuck?
Ask me
About my life How my day/work feels?
What is meaningful for me? for Features (even if I think I know!)
![Page 14: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/14.jpg)
Meaning
Functionality
Challenge: Leap across the chasm
Credit: Kozatch Pyramid
Features: Functionality
Benefits: What I get from it
Meanings: How my life might change
Pleasure
Convenience
Usability
Reliability
Aim to create value beyond function
![Page 15: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/15.jpg)
Who to ask? Identify your segments
The Chasm
![Page 16: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/16.jpg)
Different profiles help you roadmap
MVP
GEN2
![Page 17: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/17.jpg)
How many interviews?
2-3 to get the interview protocol
right
6-20 depending
on segments resources
& risk
![Page 18: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/18.jpg)
Interview plan: avoiding your own bias
#1: Who are they? (Demographics) #2: Their jobs, needs, pains? (psychographics) #3: Concept boards / co-creation
![Page 19: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/19.jpg)
Empathy
Planning Logic
![Page 20: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/20.jpg)
Logic – achieving confidence
![Page 21: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/21.jpg)
Planning Research that will drive confident choice and Action
Executing: Questions Answers Choices Action
Planning: Questions Answers Choices Action
![Page 22: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/22.jpg)
Connecting subjective insights to statistical trends builds confidence
Quant 70-200 depending on segments Validate profiles Link profiles to segments
Macro Reports Find fitting segments Size your market
Qual 6-20 interviews Discover needs & pains Build Profiles
![Page 23: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/23.jpg)
Ensure your data links to Macro reports
Qual: Your specific Need-related
(psychographic) profiles.
Macro reports: Typically generic
demographic data (age, income, segment size)
Quant: Specific profile
questions
AND demographic
validation
![Page 24: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/24.jpg)
Example
My profiles: • Willingness to wear
medical watch • Wrist size (Gender)
Macro reports:
Age Gender Medical condition Insurance
Quant: Will you wear watch?
Wrist size?
AND Gender + Age
+ Medical condition
![Page 25: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/25.jpg)
Structure of a short quant questionnaire
#1 Demographics (easy to answer) #2 psychographics (my profiles) -----Show Concept boards---- #3 Collect immediate (gut) reactions #4 More thoughtful reactions
![Page 26: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/26.jpg)
Empathy
Planning Logic
![Page 27: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/27.jpg)
Planning – making it happen
![Page 28: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/28.jpg)
Validate early to reduce the costs of “no-go” or “change” decisions (INSEAD)
Late Decisions have Substantial negative financial impact
Early decisions have minimal negative financial impact
$$$$
50%
100%
75%
25%
0%
1 2 3 4 5 6 7 8 9 10 11 12
Cost
months
![Page 29: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/29.jpg)
Start by feeding & validating the MRD
Concept Boards Validate Concept for PRD
P.O.C Alpha Validate Key functions & benefits
Demo
Validate benefits for SW/HW Spec
Beta Test Validate design
MVP Launch Validate Market
User Research Validate needs for MRD
SRR SDR
PDR CDR
FDR
Existing R&D deliverables Arrive very late
new deliverables simulate early
![Page 30: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/30.jpg)
Accurately defined Low-Fi simulations can be good enough
![Page 31: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/31.jpg)
Empathy
Planning Logic
![Page 32: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/32.jpg)
Poker apps & women players
![Page 33: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/33.jpg)
Industrial Design Bezalel 2002
8 years active designer & design manager
>25 products launched in global markets
> millions units sold of products I designed
failed miserably with a few, too
MBA Strategy major IDC 2010
6 years guiding MBA real strategic consulting projects
Nekuda Design Management physical & digital IOT Innovation
Global Consumer Electronics Samsung, Haier, PepsiCo
NOAM BERNSTEIN
![Page 34: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/34.jpg)
NOAM BERNSTEIN
http://www.nekudadm.com/
www.linkedin.com/in/noam-bernstein-651ab01
![Page 35: Noam Bernstein - NekudaDM - Derisking Market with Research](https://reader033.vdocument.in/reader033/viewer/2022051301/5a657b117f8b9a2c6e8b4b7f/html5/thumbnails/35.jpg)
Thank you!