Midterm

Question 1

6 customer types

Answer 1

Decision maker
Economic buyer
Influencer
End user early evangelist
Saboteur

Question 2

This customer type decides to adopt

Answer 2

Decision maker

Question 3

This customer type issued the PO/signs the check

Answer 3

Economic buyer/payer

Question 4

This customer type drives adoption/sways the decision

Answer 4

Influencer

Question 5

This customer type is day to day users

Answer 5

End user

Question 6

This customer type is early adoption/advocate for your solution

Answer 6

Early evangelist/recommender

Question 7

This customer type undermines its adoption

Answer 7

Saboteur

Question 8

Who influenced the decision maker

Answer 8

Influencer, saboteur

Question 9

Who influences the payer

Answer 9

Decision maker

Question 10

Who influences the user

Answer 10

Payer, recommender

Question 11

A petal diagram considers the

Answer 11

Competition

Question 12

Four petals of a petal diagram

Answer 12

Adjacent solutions/markets
Technological substitutes
Technological alternatives
Current solution

Question 13

7 types of pivots

Answer 13

Customer segment
Value proposition
Product
Zoom-out
Zoom-in
Revenue model
Others

Question 14

Customer segment pivot

Answer 14

Change in customer segment

Question 15

Value proposition pivot

Answer 15

Change in pain/need

Question 16

Product pivot

Answer 16

Change in technology/application

Question 17

Zoom-out pivot

Answer 17

Addition of features

Question 18

Zoom-in pivot

Answer 18

Reduction of features

Question 19

Revenue model pivot

Answer 19

Change in how make money

Question 20

Other types of pivots

Answer 20

Change in business architecture (B2B, B2C), growth strategy, etc.

Question 21

Pivot: keeping the same value proposition, technology, or product but focusing on a different customer segment

Answer 21

Customer segment pivot

Question 22

Examples of customer segment pivot

Answer 22

PayPal: started by continuity - allowed people to “beam“ payments from PDAs; merges to become preferred online payment system for eBay sellers

Facebook - students only hook up app to what it is today (everything for everyone)

Question 23

Keeping the same customer segment, technology, or product but addressing a different problem, job or gain

Answer 23

Value proposition

Question 24

Example of value proposition pivot

Answer 24

Groupon - started as the point (social good fundraising where a cause would receive funding once the pledged donations reached a certain number) founder started Groupon as a side project, same premise

Question 25

Keeping the same customer segment and value proposition, but using a different product or technology to solve the problem, do the job or deliver the gain

Answer 25

Product pivot

Question 26

Product pivot examples

Answer 26

Pinterest - tote, got rid of clutter Twitter - odeo (find and subscribe to podcasts), changed with growth of podcasts on iTunes Starbucks - selling espresso makers and coffee beans to European style coffee shops in US

Question 27

Expanding the customer segment, value proposition, or product

Answer 27

Zoom out pivot

Question 28

Example of zoom out

Answer 28

Yelp - from email circles for recommendations to users sharing reviews

Question 29

Focusing the customer segment, value proposition, or product

Answer 29

Zoom in pivot

Question 30

Example of zoom in pivot

Answer 30

Instagram - bourbon (check in with gaming and photos) to only photos, building collections Flickr - online role playing app with photo sharing to only photo sharing, eventually acquired by yahoo

Question 31

Changing how the startup makes money

Answer 31

Revenue model pivot

Question 32

Revenue model pivot examples

Answer 32

Netflix - DVD’s by mail, pay and return; faster speeds allows streaming, one price independent of how much you watch

Question 33

Customer functional job?

Answer 33

Perform or complete a specific task

Question 34

Customer social job?

Answer 34

Look good; gain power or status

Question 35

Physiological business needs

Answer 35

Build product, deliver service, phone, computer, internet

Question 36

Safety business needs

Answer 36

Revenue stream, recruiting employees, retention rate

Question 37

Belonging business needs

Answer 37

Employee relations, investors, customers

Question 38

Esteem business needs

Answer 38

Brand recognition, partnerships, IPO, press coverage, awards

Question 39

Self-actualisation business needs

Answer 39

Corporate citizenship, social responsibility