DANCEST 805 Lecture Notes - Lecture 7: Operational Excellence, High Tech, Value Proposition
Document Summary
Chapter 6 start-up: developing the business model. New venture creation framework: a framework to develop a start-up needs to be minimalistic and easy to use to allow the development of broad, flexible strategies. Market segments the different groupings of customers with similar characteristics. Benefits the motivations of a segment to buy a product/service. Value proposition all the different benefits seeked by the market segments pulled together. Marketing strategy: describes how the value proposition will be delivered to each of the previously identified customer segments, a good marketing strategy helps to develop a competitive advantage. Y2p5 2018/19: needs to cover the core strategy and the strategy for the launch and subsequent business growth. Marketing mix the tool used to deliver the value proposition; price, promotion, service, distribution channels, branding, etc. Operations plan: highlights the practical requirements when launching a new business, should identify the key activities necessary to ensure success.
