Working on your...

MVP Gen2

Product Acceptance

OR ?

worried about...

I don’t need it I don’t understand it I won’t pay for it I won’t recommend it

The face of Market Risk

Impossible to mitigate in house Irrational by human nature Hard to quantify Unpredictable path to solution Susceptible to opinions and intuitions

Challenges of Market Risk

Market risk is comprised of 2 types:

Category risk impacts all

players

Private risk Product-Market

my fit

Your business inherits inherent risks of your category • User expectations • Product economics & lifecycle • Retail & channel partners power • Regulation • Supply chain & Production • Technology dependencies & hurdles • Investment & ROI cycles

https://9to5mac.com/2016/04/11/apple-watch-sales-

2015-2016/

http://appleinsider.com/articles/16/06/16/jp-morgan-

downgrades-apple-stock-expectations-on-negative-

macro-trends-apple-watch-forecast

http://www.dailymail.co.uk/sciencetech/article-

3147047/Will-Apple-Watch-flop-Analyst-drops-sales-

predictions-3-MILLION-figures-suggest-s-popular-

iPod.html

Nobody is immune to market risk

Nobody is immune to market risk

by

RESEARCH

YOU CAN Mitigate your Private risk

The Good News

Diabetes algorithm go to market

Empathy

Planning Logic

Empathy – listening to needs and pains

http://www.bresslergroup.com/wp-content/uploads/2015/11/header_empathy_1.png

“...people don’t know what they want until

you show them” Steve Jobs

(so don’t ask them what

they want!)

Don’t ask me

About my pains What frustrates me?

Where do I get stuck?

Ask me

About my life How my day/work feels?

What is meaningful for me? for Features (even if I think I know!)

Meaning

Functionality

Challenge: Leap across the chasm

Credit: Kozatch Pyramid

Features: Functionality

Benefits: What I get from it

Meanings: How my life might change

Pleasure

Convenience

Usability

Reliability

Aim to create value beyond function

Who to ask? Identify your segments

The Chasm

Different profiles help you roadmap

MVP

GEN2

How many interviews?

2-3 to get the interview protocol

right

6-20 depending

on segments resources

& risk

Interview plan: avoiding your own bias

#1: Who are they? (Demographics) #2: Their jobs, needs, pains? (psychographics) #3: Concept boards / co-creation

Empathy

Planning Logic

Logic – achieving confidence

Planning Research that will drive confident choice and Action

Executing: Questions Answers Choices Action

Planning: Questions Answers Choices Action

Connecting subjective insights to statistical trends builds confidence

Quant 70-200 depending on segments Validate profiles Link profiles to segments

Macro Reports Find fitting segments Size your market

Qual 6-20 interviews Discover needs & pains Build Profiles

Ensure your data links to Macro reports

Qual: Your specific Need-related

(psychographic) profiles.

Macro reports: Typically generic

demographic data (age, income, segment size)

Quant: Specific profile

questions

AND demographic

validation

Example

My profiles: • Willingness to wear

medical watch • Wrist size (Gender)

Macro reports:

Age Gender Medical condition Insurance

Quant: Will you wear watch?

Wrist size?

AND Gender + Age

+ Medical condition

Structure of a short quant questionnaire

#1 Demographics (easy to answer) #2 psychographics (my profiles) -----Show Concept boards---- #3 Collect immediate (gut) reactions #4 More thoughtful reactions

Empathy

Planning Logic

Planning – making it happen

Validate early to reduce the costs of “no-go” or “change” decisions (INSEAD)

Late Decisions have Substantial negative financial impact

Early decisions have minimal negative financial impact

$$$$

50%

100%

75%

25%

0%

1 2 3 4 5 6 7 8 9 10 11 12

Cost

months

Start by feeding & validating the MRD

Concept Boards Validate Concept for PRD

P.O.C Alpha Validate Key functions & benefits

Demo

Validate benefits for SW/HW Spec

Beta Test Validate design

MVP Launch Validate Market

User Research Validate needs for MRD

SRR SDR

PDR CDR

FDR

Existing R&D deliverables Arrive very late

new deliverables simulate early

Accurately defined Low-Fi simulations can be good enough

Empathy

Planning Logic

Poker apps & women players

Industrial Design Bezalel 2002

8 years active designer & design manager

>25 products launched in global markets

> millions units sold of products I designed

failed miserably with a few, too

MBA Strategy major IDC 2010

6 years guiding MBA real strategic consulting projects

Nekuda Design Management physical & digital IOT Innovation

Global Consumer Electronics Samsung, Haier, PepsiCo

NOAM BERNSTEIN

NOAM BERNSTEIN

http://www.nekudadm.com/

www.linkedin.com/in/noam-bernstein-651ab01

Thank you!