ENT 601 Chapter Notes - Chapter 4: Value-Based Pricing, Sales Process Engineering, Affiliate Marketing

• School: Ryerson University
• Department: Entrepreneurship and Strategy
• Course: ENT 601
• Professor: Steven Tissenbaum

Document Summary

Chapter 4 customer discovery, phase one: state your business model hypothesis. This is an overview of phase 1 of customer discovery. Phase 1 starts by developing a rough market size estimate, to size the opportunity for the new venture. The rest of customer discovery uses the business model canvas to record short summaries (hypotheses) of initial hypotheses about your business. Almost every hypothesis concludes with the experiments you"ll use in phase 2 and 3. Helps size the opportunity of your start-up market. Helps determine whether the payoff from the venture is worth the toil and work, or whether you"re about to do your first pivot. Market opportunities are fuelled by three ingredients: a large number of potential active users or customer, clear future-user growth in a market with rapid and predictable growth, the opportunity to attract active customers or users. Market: marketers think of market size as three numbers: Tam (total available market), [how big is the market].