ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Workshop on market research for innovation startups

Zulfiqar Qazilbash

Consultant Ilm Ideas 2

bull Why market research bull Types of market research bull When do you need market research bull Methods of market research bull Market research process bull Research 1 Market gap bull Research 2 Customer bull Research 3 Market conditions bull Research 4 Product testing bull Research 5 Business plan validation bull Research 6 Market campaigns bull Research 7 Building competitive advantage bull Research 8 Pilot bull Research 9 Product roadmap development

What will we cover

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Why market research

bull Build business case for innovation

bull Improve quality of innovation

bull Helps raise investment

bull Creating competitive advantage

bull Major role in startup valuation

bull Reduce enterprise risk

bull Reduce wastage of resources time and Funding

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Types of Market Research

Secondary

bull That others have done (unrelated to you)

Primary

bull That you do or get done

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

bull Important since it provides third party credibility to your market gap analysis

bullSupports and in some cases eliminates need for primary research

bull Leverage international and domestic sources

bullMore important because it provides direct validation of a market for your innovation

bullEssential when secondary research does not validate major product and business plan assumptions

Other benefits of Market Research

Good market research can uncover opportunity for new business models and market channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

90 of Indian startups fail within the first five years And the most common reason for failure is lack of innovation mdash 77 of venture capitalists surveyed believe that Indian startups lack new technologies or unique business model

rarr The greatest companies of our time introduced innovation in business models and market channels not just new products

rarr Innovation in market channels translates into higher valuations rarr Goodwill = premium for what you understand and captured but others donrsquot

and havenrsquot yet

bull Why market research bull Types of market research bull When do you need market research bull Methods of market research bull Market research process bull Research 1 Market gap bull Research 2 Customer bull Research 3 Market conditions bull Research 4 Product testing bull Research 5 Business plan validation bull Research 6 Market campaigns bull Research 7 Building competitive advantage bull Research 8 Pilot bull Research 9 Product roadmap development

What will we cover

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Why market research

bull Build business case for innovation

bull Improve quality of innovation

bull Helps raise investment

bull Creating competitive advantage

bull Major role in startup valuation

bull Reduce enterprise risk

bull Reduce wastage of resources time and Funding

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Types of Market Research

Secondary

bull That others have done (unrelated to you)

Primary

bull That you do or get done

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

bull Important since it provides third party credibility to your market gap analysis

bullSupports and in some cases eliminates need for primary research

bull Leverage international and domestic sources

bullMore important because it provides direct validation of a market for your innovation

bullEssential when secondary research does not validate major product and business plan assumptions

Other benefits of Market Research

Good market research can uncover opportunity for new business models and market channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

90 of Indian startups fail within the first five years And the most common reason for failure is lack of innovation mdash 77 of venture capitalists surveyed believe that Indian startups lack new technologies or unique business model

rarr The greatest companies of our time introduced innovation in business models and market channels not just new products

rarr Innovation in market channels translates into higher valuations rarr Goodwill = premium for what you understand and captured but others donrsquot

and havenrsquot yet

Why market research

bull Build business case for innovation

bull Improve quality of innovation

bull Helps raise investment

bull Creating competitive advantage

bull Major role in startup valuation

bull Reduce enterprise risk

bull Reduce wastage of resources time and Funding

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Types of Market Research

Secondary

bull That others have done (unrelated to you)

Primary

bull That you do or get done

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

bull Important since it provides third party credibility to your market gap analysis

bullSupports and in some cases eliminates need for primary research

bull Leverage international and domestic sources

bullMore important because it provides direct validation of a market for your innovation

bullEssential when secondary research does not validate major product and business plan assumptions

Other benefits of Market Research

Good market research can uncover opportunity for new business models and market channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

90 of Indian startups fail within the first five years And the most common reason for failure is lack of innovation mdash 77 of venture capitalists surveyed believe that Indian startups lack new technologies or unique business model

rarr The greatest companies of our time introduced innovation in business models and market channels not just new products

rarr Innovation in market channels translates into higher valuations rarr Goodwill = premium for what you understand and captured but others donrsquot

and havenrsquot yet

Types of Market Research

Secondary

bull That others have done (unrelated to you)

Primary

bull That you do or get done

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

bull Important since it provides third party credibility to your market gap analysis

bullSupports and in some cases eliminates need for primary research

bull Leverage international and domestic sources

bullMore important because it provides direct validation of a market for your innovation

bullEssential when secondary research does not validate major product and business plan assumptions

Other benefits of Market Research

Good market research can uncover opportunity for new business models and market channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

90 of Indian startups fail within the first five years And the most common reason for failure is lack of innovation mdash 77 of venture capitalists surveyed believe that Indian startups lack new technologies or unique business model

rarr The greatest companies of our time introduced innovation in business models and market channels not just new products

rarr Innovation in market channels translates into higher valuations rarr Goodwill = premium for what you understand and captured but others donrsquot

and havenrsquot yet

Other benefits of Market Research

Good market research can uncover opportunity for new business models and market channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

90 of Indian startups fail within the first five years And the most common reason for failure is lack of innovation mdash 77 of venture capitalists surveyed believe that Indian startups lack new technologies or unique business model

rarr The greatest companies of our time introduced innovation in business models and market channels not just new products

rarr Innovation in market channels translates into higher valuations rarr Goodwill = premium for what you understand and captured but others donrsquot

and havenrsquot yet

When do you need Market Research

1 Market gap

2 Customer 4 Product testing

6 Marketing campaigns

9 Product roadmap development

3 Market conditions

5 Business

plan validation

7 Building competitive advantage

Market research is required regularly in an innovation startup and can be disasterous if ignored

Market research should be a core competency of the innovation startup and capacity built to support it

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Startup Maturity Timeline

8 Pilot

Methods of Market Research

Quantitative

bull Desktop study

bull Short surveys

bull Long surveys

Qualitative

bull Field study

bull Commissioned study

bull Interviews

bull Focus groups

bull Customer panel

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Market research process

Goals Research

Plan Research Activity

Analysis Report

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Form Research questions

Data collection

method

Select target group

Make forms and allocate

resources

Quality check

Timeline and

budget

Type of Research Questions

Exploratory questions

bull Useful to understand the market dynamics and refine the product concept bull Examples

ndash Would you pay for such kind of service ndash Where would you expect to buy this service

Specific questions

bull Provide validation to the business model and financial projections (business plan) bull Examples

ndash What price would you pay for this kind of service ndash How many times over the last 3 months have you used similar product

service

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Exercise 1

List 3 pros and cons of each type of research method

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Short survey Desktop study

Questionnaire (long survey)

Interview Focus group Customer Panel

Research 1 Market Gap

Secondary Research

Survey who is in the market

Size of market

Competition

Substitute products

International andor domestic benchmarks

Primary research Customer need Validate dissatisfaction with current

solutions Is the need urgent and persistent Willing to pay for your solution when

available Price perception of value proposition by

comparisons

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Survey what is state of art Net searches Research journals Interviews with domain experts Patent searches

Business potential Where how and how many will they

buy Can you build and deliver it for profit

Benchmark WTP survey

What is WTP Traditional use Field surveys to establish commercial demand and pricing for market entry

Willingness to Pay

How much are you willing to pay for this 100 200 300

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Methods of Market Research

Quantitative

bull Desktop study

bull Short surveys

bull Long surveys

Qualitative

bull Field study

bull Commissioned study

bull Interviews

bull Focus groups

bull Customer panel

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Market research process

Goals Research

Plan Research Activity

Analysis Report

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Form Research questions

Data collection

method

Select target group

Make forms and allocate

resources

Quality check

Timeline and

budget

Type of Research Questions

Exploratory questions

bull Useful to understand the market dynamics and refine the product concept bull Examples

ndash Would you pay for such kind of service ndash Where would you expect to buy this service

Specific questions

bull Provide validation to the business model and financial projections (business plan) bull Examples

ndash What price would you pay for this kind of service ndash How many times over the last 3 months have you used similar product

service

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Exercise 1

List 3 pros and cons of each type of research method

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Short survey Desktop study

Questionnaire (long survey)

Interview Focus group Customer Panel

Research 1 Market Gap

Secondary Research

Survey who is in the market

Size of market

Competition

Substitute products

International andor domestic benchmarks

Primary research Customer need Validate dissatisfaction with current

solutions Is the need urgent and persistent Willing to pay for your solution when

available Price perception of value proposition by

comparisons

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Survey what is state of art Net searches Research journals Interviews with domain experts Patent searches

Business potential Where how and how many will they

buy Can you build and deliver it for profit

Benchmark WTP survey

What is WTP Traditional use Field surveys to establish commercial demand and pricing for market entry

Willingness to Pay

How much are you willing to pay for this 100 200 300

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Market research process

Goals Research

Plan Research Activity

Analysis Report

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Form Research questions

Data collection

method

Select target group

Make forms and allocate

resources

Quality check

Timeline and

budget

Type of Research Questions

Exploratory questions

bull Useful to understand the market dynamics and refine the product concept bull Examples

ndash Would you pay for such kind of service ndash Where would you expect to buy this service

Specific questions

bull Provide validation to the business model and financial projections (business plan) bull Examples

ndash What price would you pay for this kind of service ndash How many times over the last 3 months have you used similar product

service

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Exercise 1

List 3 pros and cons of each type of research method

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Short survey Desktop study

Questionnaire (long survey)

Interview Focus group Customer Panel

Research 1 Market Gap

Secondary Research

Survey who is in the market

Size of market

Competition

Substitute products

International andor domestic benchmarks

Primary research Customer need Validate dissatisfaction with current

solutions Is the need urgent and persistent Willing to pay for your solution when

available Price perception of value proposition by

comparisons

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Survey what is state of art Net searches Research journals Interviews with domain experts Patent searches

Business potential Where how and how many will they

buy Can you build and deliver it for profit

Benchmark WTP survey

What is WTP Traditional use Field surveys to establish commercial demand and pricing for market entry

Willingness to Pay

How much are you willing to pay for this 100 200 300

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Type of Research Questions

Exploratory questions

bull Useful to understand the market dynamics and refine the product concept bull Examples

ndash Would you pay for such kind of service ndash Where would you expect to buy this service

Specific questions

bull Provide validation to the business model and financial projections (business plan) bull Examples

ndash What price would you pay for this kind of service ndash How many times over the last 3 months have you used similar product

service

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Exercise 1

List 3 pros and cons of each type of research method

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Short survey Desktop study

Questionnaire (long survey)

Interview Focus group Customer Panel

Research 1 Market Gap

Secondary Research

Survey who is in the market

Size of market

Competition

Substitute products

International andor domestic benchmarks

Primary research Customer need Validate dissatisfaction with current

solutions Is the need urgent and persistent Willing to pay for your solution when

available Price perception of value proposition by

comparisons

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Survey what is state of art Net searches Research journals Interviews with domain experts Patent searches

Business potential Where how and how many will they

buy Can you build and deliver it for profit

Benchmark WTP survey

What is WTP Traditional use Field surveys to establish commercial demand and pricing for market entry

Willingness to Pay

How much are you willing to pay for this 100 200 300

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Exercise 1

List 3 pros and cons of each type of research method

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Short survey Desktop study

Questionnaire (long survey)

Interview Focus group Customer Panel

Research 1 Market Gap

Secondary Research

Survey who is in the market

Size of market

Competition

Substitute products

International andor domestic benchmarks

Primary research Customer need Validate dissatisfaction with current

solutions Is the need urgent and persistent Willing to pay for your solution when

available Price perception of value proposition by

comparisons

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Survey what is state of art Net searches Research journals Interviews with domain experts Patent searches

Business potential Where how and how many will they

buy Can you build and deliver it for profit

Benchmark WTP survey

What is WTP Traditional use Field surveys to establish commercial demand and pricing for market entry

Willingness to Pay

How much are you willing to pay for this 100 200 300

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Research 1 Market Gap

Secondary Research

Survey who is in the market

Size of market

Competition

Substitute products

International andor domestic benchmarks

Primary research Customer need Validate dissatisfaction with current

solutions Is the need urgent and persistent Willing to pay for your solution when

available Price perception of value proposition by

comparisons

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Survey what is state of art Net searches Research journals Interviews with domain experts Patent searches

Business potential Where how and how many will they

buy Can you build and deliver it for profit

Benchmark WTP survey

What is WTP Traditional use Field surveys to establish commercial demand and pricing for market entry

Willingness to Pay

How much are you willing to pay for this 100 200 300

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

What is WTP Traditional use Field surveys to establish commercial demand and pricing for market entry

Willingness to Pay

How much are you willing to pay for this 100 200 300

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Research 2 Customer

Secondary Research

Maslowrsquos Pyramid

Analyze what is his need based on

Primary research Segmentation

Demographics

develop adoption model

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Socio economic profile understand constraints and refine

value proposition PBS MICS University data networks Profiles

Develop marketing around Customer Persona(s)

develop and test market communications (messaging and collateral)

Segmentation Customer persona(s) Adoption model Communications

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

How market reacts to innovation

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Learner Profiles

HEAD Knowledge and learning style

HANDS Skills and Abilities

HEART Attitudes

motivation and expectations

FEET Background

(demographics)

Knowledge and learning style bull Prefers classroom setting bull Competitive with peers Attitudes motivation and expectations bull Low motivation bull Gets bored easily bull Edutainment friendly Skills and Abilities bull Not literate bull Likes to sing bull Potential dyslexia Background amp Demographics bull From BOP and low income household bull Most cases parents illiterate bull Rural peri-urban and urban setting bull Punjab amp all provinces

Example learner profile that lead to ECD startup that is pioneering heavy singing component into BOP teaching curriculum

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Learning styles Visual (spatial)You prefer using pictures images and spatial understanding Aural (auditory-musical) You prefer using sound and music Verbal (linguistic) You prefer using words both in speech and writing

Physical (kinesthetic) You prefer using your body hands and sense of touch

Logical (mathematical) You prefer using logic reasoning and systems Social (interpersonal) You prefer to learn in groups or with other people Solitary (intrapersonal) You prefer to work alone and use self-study

Modern universal education design attempts to involve as many of them as possible

Disruption is high riskhigh reward

Self Actualization

EsteemRespect

Love and Belonging

SafetySecurity Needs

Physiological Needs Marriage Agriculture Healthcare

Police Legal Justice

Social Romance Religion

Fashion Education Associations

Lifestyle Skills Startup

Maslowrsquos Pyramid of Needs

Demand driven Innovation

Supply driven Innovation

ImproveSupplement DisruptTransform

Market exists and is ready (PULL)

Need to create market (PUSH)

Sales Driven Marketing Driven

Research 3 Market Conditions

Secondary Research

What are the available distribution and marketing channels

Traditional

Alternate

Innovative

Primary research How do people perceive your product relative to competition or substitutes (Positioning)

What is the price elasticity

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Who are the market players Regulator impact Trade associations Alliances and cartels Porters five forces strategy diamond

Where and how are they more likely to buy it (Placement) What is the right business model

Market models Distribution amp Marketing Price elasticity Business model

Business Models

B2B market

bull Load option need to develop new sales force

bull No load option work with existing agencies

B2C Market

bull Load option setup and manage retail

bull No load option market via existing retail channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Internet

bull Subscription rental model

bull Freemium ad revenue or pay for premium features

Conventional vs Non Conventional

Startup succeed due to innovation Do you really want to compete with corporate professionals who are

experts at conventional sales and marketing

Pakistan has surplus of labor and limited opportunity for respectable employment Youth bulge cultural restrictions on women Rise of the entrepreneur salesman Opportunity for secondary income Social capital Corporate CSR Partnership with CBO and NGOs Private Public Partnerships

Price Elasticity

Research 4 Product Testing

Secondary Research

International benchmark

Domestic benchmark

Primary Research

Aesthetics

Ease of use

Quality

Performance

Price

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Research 5 Business Plan Validation

Secondary Research How have other companies in

similar space grown What problems have they

faced What is their sales strategy What partnerships have helped

them and how

Primary Research How quickly will the customers

adopt the solution What incentives can be used to

influence this How can we validate the business

plan growth projections What is the best area for the

pilot

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Validation of major assumptions in the financial model

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research 3 Market Conditions

Secondary Research

What are the available distribution and marketing channels

Traditional

Alternate

Innovative

Primary research How do people perceive your product relative to competition or substitutes (Positioning)

What is the price elasticity

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Who are the market players Regulator impact Trade associations Alliances and cartels Porters five forces strategy diamond

Where and how are they more likely to buy it (Placement) What is the right business model

Market models Distribution amp Marketing Price elasticity Business model

Business Models

B2B market

bull Load option need to develop new sales force

bull No load option work with existing agencies

B2C Market

bull Load option setup and manage retail

bull No load option market via existing retail channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Internet

bull Subscription rental model

bull Freemium ad revenue or pay for premium features

Conventional vs Non Conventional

Startup succeed due to innovation Do you really want to compete with corporate professionals who are

experts at conventional sales and marketing

Pakistan has surplus of labor and limited opportunity for respectable employment Youth bulge cultural restrictions on women Rise of the entrepreneur salesman Opportunity for secondary income Social capital Corporate CSR Partnership with CBO and NGOs Private Public Partnerships

Price Elasticity

Research 4 Product Testing

Secondary Research

International benchmark

Domestic benchmark

Primary Research

Aesthetics

Ease of use

Quality

Performance

Price

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Research 5 Business Plan Validation

Secondary Research How have other companies in

similar space grown What problems have they

faced What is their sales strategy What partnerships have helped

them and how

Primary Research How quickly will the customers

adopt the solution What incentives can be used to

influence this How can we validate the business

plan growth projections What is the best area for the

pilot

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Validation of major assumptions in the financial model

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Business Models

B2B market

bull Load option need to develop new sales force

bull No load option work with existing agencies

B2C Market

bull Load option setup and manage retail

bull No load option market via existing retail channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Internet

bull Subscription rental model

bull Freemium ad revenue or pay for premium features

Conventional vs Non Conventional

Startup succeed due to innovation Do you really want to compete with corporate professionals who are

experts at conventional sales and marketing

Pakistan has surplus of labor and limited opportunity for respectable employment Youth bulge cultural restrictions on women Rise of the entrepreneur salesman Opportunity for secondary income Social capital Corporate CSR Partnership with CBO and NGOs Private Public Partnerships

Price Elasticity

Research 4 Product Testing

Secondary Research

International benchmark

Domestic benchmark

Primary Research

Aesthetics

Ease of use

Quality

Performance

Price

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Research 5 Business Plan Validation

Secondary Research How have other companies in

similar space grown What problems have they

faced What is their sales strategy What partnerships have helped

them and how

Primary Research How quickly will the customers

adopt the solution What incentives can be used to

influence this How can we validate the business

plan growth projections What is the best area for the

pilot

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Validation of major assumptions in the financial model

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Conventional vs Non Conventional

Startup succeed due to innovation Do you really want to compete with corporate professionals who are

experts at conventional sales and marketing

Pakistan has surplus of labor and limited opportunity for respectable employment Youth bulge cultural restrictions on women Rise of the entrepreneur salesman Opportunity for secondary income Social capital Corporate CSR Partnership with CBO and NGOs Private Public Partnerships

Price Elasticity

Research 4 Product Testing

Secondary Research

International benchmark

Domestic benchmark

Primary Research

Aesthetics

Ease of use

Quality

Performance

Price

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Research 5 Business Plan Validation

Secondary Research How have other companies in

similar space grown What problems have they

faced What is their sales strategy What partnerships have helped

them and how

Primary Research How quickly will the customers

adopt the solution What incentives can be used to

influence this How can we validate the business

plan growth projections What is the best area for the

pilot

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Validation of major assumptions in the financial model

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Price Elasticity

Research 4 Product Testing

Secondary Research

International benchmark

Domestic benchmark

Primary Research

Aesthetics

Ease of use

Quality

Performance

Price

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Research 5 Business Plan Validation

Secondary Research How have other companies in

similar space grown What problems have they

faced What is their sales strategy What partnerships have helped

them and how

Primary Research How quickly will the customers

adopt the solution What incentives can be used to

influence this How can we validate the business

plan growth projections What is the best area for the

pilot

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Validation of major assumptions in the financial model

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research 4 Product Testing

Secondary Research

International benchmark

Domestic benchmark

Primary Research

Aesthetics

Ease of use

Quality

Performance

Price

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Research 5 Business Plan Validation

Secondary Research How have other companies in

similar space grown What problems have they

faced What is their sales strategy What partnerships have helped

them and how

Primary Research How quickly will the customers

adopt the solution What incentives can be used to

influence this How can we validate the business

plan growth projections What is the best area for the

pilot

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Validation of major assumptions in the financial model

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research 5 Business Plan Validation

Secondary Research How have other companies in

similar space grown What problems have they

faced What is their sales strategy What partnerships have helped

them and how

Primary Research How quickly will the customers

adopt the solution What incentives can be used to

influence this How can we validate the business

plan growth projections What is the best area for the

pilot

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Validation of major assumptions in the financial model

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research 6 Marketing campaigns

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market Research

Idea Concept

Note Budget

Measurement framework and targets

Event Campaign

Analysis and Lessons Learnt

Measurement Framework and Targets

1 2 3 4 5

6

Financial Measurement Customer acquisition cost (CAC)

ltlt Customer Lifetime value (CLV)

(Process Measurement)

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research 7 Competitive Advantage

Secondary Research

Identify areas for primary research that can lead to new business models andor new product features andor marketing channels

Primary Research

Develop and validate new business models

Develop and validate new product features

Develop and validate new marketing channels

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds GroupI

Unique market insights and business strategy can significantly increase investor interest and valuation of the company

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research and experiments is Key

Increasing connectivity with customer and markets is competitive advantage that can cement first mover advantage into sustainable competitive advantage

CONCLUSION Startup must have research as core competency

Lean startup Intellectual capital and core competencies that give it a competitive advantage If practical outsource everything else

Systems to capture data analyze it and use it for

decision making

Rapid prototyping to test ideas and refine business

model

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research 8 Pilot

Marketing and outreach Sales Funnel development Order Fulfillment Delivery channel After sales support

Learning what needs to be improved

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Test Marketing

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Research 9 Product Roadmap

Secondary Research What capabilities competitive

andor substitute products have domestically and internationally

What are other products with large demand can be built and sold within startup developed core competencies

Primary Research

What are customers asking for

What new capabilities or complementary products can be cost effectively introduced

What are customers willing to pay for

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a key driver in the development of next generation of productservice

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Quality of market research

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Lots of holes in understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Better understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Unique understanding business opportunity bull What customers pay

for bull How can they be

influenced bull How will you meet

business plan targets

Inferior and incomplete

Better and satisfactory

Competitive advantage And barrier to entry

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Market research should be a core competency of the startup

ILM Ideas 2 is a program funded by UK AID and administered by Mott McDonalds

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

Class Exercise 2

Design a 3 question survey you will conduct over 1000 households to Establish that there is market for your productservice idea

How would you select the household

Pre survey secondary research

How would you qualify the household

Survey question

How would you describe the productservice idea

Collateral demo

How would you establish interest and willingness to pay

Survey question

How would you find out about potential competition

Survey question

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group

ILM Ideas 2 is a program funded by UK AID and managed by Cambridge Education a member of the Mott McDonalds Group