List the Needs, Approach, Benefits, and Competition to quickly define, create, and communicate the highest customer value.
1. Draw the matrix as shown on the front.
2. Describe the need your are covering and for whom. (Customer perspective) What is the key need of the customer?
3. Define your approach, the relevance of your idea and its uniqueness. (Inside perspective) How are innovative elements of the idea delivered?
4. Describe the benefits of using it. (Value)
Value proposition, quality, quantity.
5. Study the competition, risks and differentiation in this area. (Outside perspective)
Competitors, alternatives and market pressure.
6. Divide your presentation time like so:
Hook the audience (5%), need (20%), approach (50%), benefits (10%), competition (10%), finish with a round up listing the most important points (5%). What is the most important market and customer need? What is your unique approach? What are specific user benefits (per costs)? Risks and competition?
Every phase of development.
Helps to structure your process from idea to pitch.
Have a product idea.
Sharp proposal when presenting to others.
Pitch your idea and iterate.