peer mangement

 

please answer the two peers below:

Adaptability

After an initial period of selling, Austin changed the way in which he branded his product. In the Week 3 Discussion, you introduced your Value Proposition. Now you are going to take this to the next level.

Use the Assumptionator PowerPoint Tool in your Weekly Materials to reexamine your previous assumptions about your product or service. Then answer the questions below:

  • What are the key actions you need to take to deliver your Value Proposition to your Customers?
  • What have you done to test your Value Proposition?
  • What will you do if it turns out that your original Value Proposition is not resonating with your Customers?

NOTE: Refer back to your previous Discussions to help you with this week’s topic.

Post your initial response by Wednesday, midnight of your time zone, and reply to at least 2 of your classmates’ initial posts by Sunday, midnight of your time zone.

1.Justin Godfrey

RE: Week 6 Discussion

Adaptability

 

After an initial period of selling, Austin changed the way in which he branded his product. In the Week 3 Discussion, you introduced your Value Proposition. Now you are going to take this to the next level.

When making the final touches to your “big idea” before launch, it is vital always to assess the competition to ensure that you work out a plan to set yourself apart from everyone else in your market segment. After identifying the top competitors, it is critical always to analyze their particular strengths and weaknesses. Many tools or models are used to accomplish this analysis, such as a features checklist, an individual competitor analysis, or competing with yourself. Having a solid understanding of the analysis will showcase areas where the new product or service has a competitive edge within the market. It becomes vital to focus on the new business’s marketing strategy for the launch and into the future. Lastly, there are many possible areas to consider, such as location, pricing, business model, technical features, distribution methods, shipping costs, and customer service (JWMI, 1), which can easily set the benchmark for any new organization.

 

Use the Assumptionator PowerPoint Tool in your Weekly Materials to reexamine your previous assumptions about your product or service. Then answer the questions below:

What are the key actions you need to take to deliver your Value Proposition to your Customers?

The value created at the Lonely Cabins is designed for anyone who enjoys camping but does not want to utilize a tent or purchase and tow an RV. Thereby allowing our customers to arrive with just their clothes and food and have all the home necessities and enabling them to enjoy as many beautiful days as they would like within the Black Hills close to tourist attractions such as Mount Rushmore, Crazy Horse, Keystone, Deadwood, Rapid City, and so much more. The key actions needed to deliver this value proposition to our customers start with developing the right parcel of land. A piece of land with great views, maybe a river or other inviting characteristics such as different species of trees. Once we have established our location, it will then be all about the delivery of our service. Next would be to maintain a high level of customer service, listen to our feedback, proper pricing, and pray that the tourism industry thrives in this location. If any of the area events and attractions were to disappear, that would have a high impact on our business.

What have you done to test your Value Proposition?

Preliminary testing of our value proposition has been conducted from market research, such as funding requirements and what our competition looks like in this segment. Based on the high foot traffic to the area and the high amount of money spent annually via tourism is evidence that the need for rental options exists, and we could achieve a small slice of the market pie.

What will you do if it turns out that your original Value Proposition is not resonating with your customers?

If our original value proposition does not resonate with our customers, we will make slight adjustments to our amenities, such as stocked items within our cabins. Additionally, we would make adjustments by partnering with other local businesses to drive customers to our location via word of mouth or advertising.

Take care,

-Justin

1. JWMI 575 Week 6 Lecture Notes. (2021).

2.Joshua Bert

RE: Week 6 Discussion

COLLAPSE

  • What are the key actions you need to take to deliver your Value Proposition to your Customers?

The Assumptionator has us list the ideas and assumptions about the new business in order for it to work (JWI575, 1). Each assumption is adjusted for criticality and unknowns. It was interesting to dig deeper into business models using the canvas (Strategyzer, 3).

The first fundamental assumption is finding someone who can manufacture our products for a reasonable price. This will be known early on in the business process but is highly critical because there would be no product to sell without this. Another assumption is that shipping will go smoothly from partner manufacturers to customers in today’s disrupted shipping climate. We are also assuming we know what our customer segment wants to buy and market the product appropriately and cheaply without spending a fortune on Google and Facebook ads.

  • What have you done to test your Value Proposition?

Testing with online ads and landing pages is one way to see if the target customer segment is interested in the value proposition (Debane, 4). I think this will be an excellent place to start. Pitching the solution to potential customers and interviewing them would be more in-depth and harder to pull off.

  • What will you do if it turns out that your original Value Proposition is not resonating with your Customers?

Refine; that is the only option. Tio had slightly changed their offering, and it worked out for them. I think many businesses do not quite hit the mark right away, but those who can adapt quickly can be successful.

Josh

References:

1. JWI575. Assumptionator Tool.

2. Guy Kawasaki. 2015. Art of the Start 2.0.

3. Strategyzer. Business Model Canvas. https://www.strategyzer.com/canvas/business-model-canvas

4. Franck Debane. 4 Ways to Test your Value Proposition. Debane.org. https://debane.org/franck/4-ways-to-test-your-value-proposition-c0a631c5adf8/

5. Nabila Amarsy. Roadmap To Test Your Value Proposition. 2015. Strategyzer. https://www.strategyzer.com/blog/posts/2015/2/17/roadmap-to-test-your-value-proposition

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