MGMT-UB 1 Lecture Notes - Lecture 2: Customer Development, Mobile App, Value Proposition
2 Nov 2017
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Document Summary
Company: a business which sells a product or service in exchange for revenue. Startup: temporary organization designed to search for a repeatable and scalable business model. Business model: how a company creates value for itself while delivering products or services for customers. Value proposition: what product or service are you providing. Customers are trying to solve a problem or need " how does your company/startup solve a problem or need. Customer segments: which segments are the market are your customers/are you targeting. Your customers do not exist to buy; you exist for them. Ex. mobile app, website, brick & mortar shop, etc. Key resources: most important assets required to make the business model work. A cost that does not change with an increase or decrease in the amount of goods or services produced or sold. Expenses that have to be paid by a company, independent of any business activity. Ex. rent, advertising, insurance and office supplies.
