BM.5 Generate ideas for the customer segments block

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OVERVIEW

This activity aims to generate ideas for how to address hotspots or strategic changes related to the customer segments block.

INPUT

Hotspots or strategic changes related to the customer segments block from the activities ST.7 Do a SWOT analysis, BM.2 Gather additional data on the business model, and BM.3 Gather additional data on operational performance.

OUTPUT

Specific ideas for how to change the customer segments block to address the hotspots or strategic changes, used in the activities BM.4 Generate business model concepts at the big picture level – if taking a ‘Bottom-up’ approach, BM.15 Evaluate the benefits, and BM.16 Evaluate the costs and BM.17 Evaluate the risks.

TEMPLATE

HOW TO GO ABOUT IT

1.

Using the Customer research template, define the scope and specific objectives of this activity by deciding what it is you want to find out about the needs and requirements of the target customer segments. If there are entirely new customer segments proposed in the new business strategy then you will need to an extensive investigation of their requirements. If it is a new selling point to be used for an existing customer segment then your research in this activity can be more focused.

2.

Based on the scope and objectives, decide which market research technique is most appropriate. Figure 8, below, provides a summary of some of the most common market research techniques and can help you to make this choice.

3.

Plan and implement the market research activity you have selected.

4.

Write-up your analysis of the results and main findings – these will be used in the Evaluate the business model concepts and select one to pitch step.

Tips & Tricks

ENGAGE END USERS

If the company’s direct customer is not the final customer, or ‘end user’, in the value chain (e.g. one of the Tasty Tuna Company’s customer segments is large international food retailers, but these customers are not the end user of the product), it may be worth also trying to engage the ‘end user’. Their views and feedback can have a significant influence on the success of eco-innovation implementation activities and the willingness of the rest of the value chain to engage in those activities.

GENDER-SPECIFIC NEEDS

If the company operates in ‘Business to Consumer’ (B2C) markets it is important to consider the different needs and requirements that women and men might have for the product or service. You can ensure that these different needs are identified by including a balance of men and women in customer engagement and insight gathering activities (unless the product is exclusively used by one gender).

— Success story from Peru

Mining Machinery Goes Green – Funvesa of Peru

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