ACTIVITY 2: NEED ANALYSIS

REQUIREMENT: WHY WOULD SOMEONE WANT TO BUY YOUR PRODUCT/SERVICES?

LIST THREE MOST IMPORTANT “FUNCTIONAL NEEDS” AND AT LEAST TWO
“EMOTIONAL NEEDS”.
Instructions: -
Interview at least 5 to 8 potential Customers for your Product as Services (as per the Design Thinking
Guidelines).

Functional Needs
Sr. Reason(s)

Emotional Needs

5
ACTIVITY 3: DECISION MAKING PROCESS
REQUIREMENT: WHAT’S THE DECISION-MAKING PROCESS OF YOUR CUSTOMER?

Instructions: -
Interview at least 5 to 8 potential Customers for your Product as Services (as per the Design Thinking
Guidelines).

Problem Recognition
When and How does a Customer feel
that he/she wants to buy your
Product?

(Situational, social and marketing triggers)

Why does he/she want to tbuy the

product?

Information Search
  Who does potential Customers rely
upon for advice? (Friends, Family,
Teachers, Internet rating, media, celebrities)

  What social reference group do

potential Customers benchmark
against?
Who are the opinion leaders who
matters to potential customers?
What marketing activities inform
their search?
(Website, Friends, brochure, advertising, social
media)

Evaluation of Alternatives
What features of the product are
most important to potential
customers?
-          How do they prioritize these
features?
-          Are choices made cognitively or
emotionally?
Purchase Decision
Where does potential customers go
for product?
a)       Retail store/ outlet
b)       Website

What situational and social influences

do they encounter during Purchase?
 -          Who will make the final
decision?

Post-Admission Evaluation

How satisfied or dissatisfied

customers are after buying products?

-          Why are they satisfied or

dissatisfied? (Please state reasons)
ACTIVITY 4: PEST ANALYSIS
REQUIREMENT: WHAT EXTERNAL FACTORS CAN BE CRITICAL IN DETERMINING SUCCESS OR FAILURE OF YOUR PRODUCT OR
SERVICES?

Political

ECONOMIC

SOCIAL

TECHNOLOGICAL
YSIS
TERNAL FACTORS CAN BE CRITICAL IN DETERMINING SUCCESS OR FAILURE OF YOUR PRODUCT OR
ACTIVITY 5; COMPARATIVE STRENGTHS & WEAKNESSES
REQUIREMENT: FILL OUT THE TABLE TO THE BEST OF YOUR KNOWLEDGE
Competitor 1 Competitor 2

Product

Price

Place

Promotion

Target Market

Market Share
[Competitor 3] [Competitor 4]
ACTIVITY 6: COMPETITIVE ADVANTAGE
Competitive advantage is something that your business does or can do that
is of value to customers and that competitors cannot match.
(Think about what makes your Proudct and Business unique)
REQUIREMENT: STATE ATLEAST FIVE POINTS.
Sr. Points of Differentiation (PODs)
1

7
ACTIVITY-7: COMPETITIVE STRATEGY
REQUIREMENT: WHAT IS YOUR COMPETITIVE STRATEGY?
¨  Overall Cost Leadership
¨  Differentiation
¨  Niche/Focus
User Guide: -
THREE GENERIC COMPETITIVE STRATEGIES
COMPETITIVE ADVANTAGE
Low Cost Position Uniqueness perceived by students
BREADTH OF TARGET MARKET

Industry
wide

Particular
Segments
only

REQUIREMENT: Do you think that you fall somewhere between Cost-Leadership and
Differentiation?
_________ (Yes/No) NO
Note: If your above answer is Yes then your program is doing no good to the organization!
ACTIVITY-8: COMPETITIVE MARKET POSITIONING
REQUIREMENT: RATE THE PRODUCTS OF COMPETITORS ON THE BASIS OF “POINTS OF DIFFRENTIATION”
6 = Best among all the Competitors offering same product / service.
5 = At par/Comparable with the best in the Business
4 = Better than most of the competitor
3 = Almost same as competitor
2 = Relatively low compared to competitors
1 = Lowest among Products offered by different Competitors

Your Business [Competitor 1] [Competitor 2] [Competitor 3]

Marks (out of 6)

REQUIREMENT: RATE YOUR PRODUCT ON THE BASIS OF “PRICE” AFTER DISCOUNTS

6 = Highest in the industry
5 = Equal to the price charged by best in the business
4 = Higher than most of the competitors
3 = Almost equal to what is charged by competitors
2 = Relatively low compared to competitors
1 = Lowest among all the Competitors offering same Product
Your Business [Competitor 1] [Competitor 2] [Competitor 3]
Marks (out of 6)
REQUIREMENT: WRITE THE NAME OF PRODUCTS / COMPANY/ SERVICE IN RELEVANT BOX AS PER THEIR SCORE

Points of
differentiation à

Price à

REQUIREMENT: WHAT PRICE SHOULD YOU BE CHARGING FOR YOUR PRODUCT / SERVICE?
ACTIVITY: EXTERNAL ANALYSIS
REQUIREMENT: FILL IN THE FOLLOWING TEMPLATE
Instructions: -
·         Sum it all up on the basis of above analysis.
Strengths Opportunities

Weaknesses Threats
ACTIVITY: PRIMARY RESEARCH
REQUIREMENT: Make market segments, select target market to calculate total market size and
total addressable market;

Ø  Entrepreneurship 101
Ø  Ways of Segmentation (Training Handbook)
Ø  Seven question for selecting you target markets (Training Handbook)
ACTIVITY: PURCHASING CRITEIRA OF YOUR PERSONA
REQUIREMENT: WHAT IS PURCHASING CRITERIA OF YOUR PERSONA IN PRIORITIZED ORDER.

Sr. Purchasing criteria

1

6
Activity: Collaborators' Analysis
REQUIREMENT: FILL IN THE BELOW TEMPLATE BY THINKING ABOUT THE PARTIES WHO CAN INFLUENCE POTENTIONAL CUSTOMERS TO
BUY YOUR PRODUCT?
Note: Apart from your experience do reflect on the interviews you conducted
Sr. Collaborator What impact can How strong is our What does he/she What motivates Target to be
he/she make? relationship with get out of this the collaborator? achieved through
(Please Quantify) the Collaborator? relationship? Collaborator.
Scale: - (Please Quantify)
3 = Better than
competitors
2 = Same as our
competitors
1 = Weaker than our
competitors

1
2
3
4
5
6
7
8
9
10
ACTIVITY: PRIMARY RESEARCH
REQUIREMENT: Make market segments, select target market to calculate total market size abd total addressable market:
1. Entrepreneurship 101
2. Ways of Segmentation [Training Handbook]
3. Seven questions for selecting your target markets [Training Handbook}

NOTE: If your response is in graphical or any other form you can attach the picture as well.

Descriptor A B
Demographics
Pervious institute
Age
Gender
Education
Family occupation
Social Class
Family size
Family income
Family system
Religion
Geographical
Country
City

Psychographics

Personality type

Hobbies
City

Psychographics

Personality type

Hobbies

Interest

Behavior

Benefit

Involvement

Purchase decision

Loyal status
ACTIVITY: Points of Differentiation
REQUIREMENT: ON THE BASIS OF YOUR COMPETITORS’ ANALYSIS. STATE 5 to 7 POINTS OF
DIFFRENTIATION FOR YOUR PRODUCT / SERVICE.
Sr. Points of Differentiation
1

7
ACTIVITY: UNIQUE VALUE PROPOSITION
REQUIREMENT: STATE 3 to 5 UNIQUE VALUE PROPOSITIONS (UVPs) OF YOUR PRODUCT
Template: -
If your customer buy a product from you instead of [Competitors], your [Key Benefit] will be ensured due to
[Differentiated feature] (facilitated by [Evidence]), which isn’t available with any of mentioned competitors.

Sr. Unique Value Propositions (UVPs)

4
5
ACTIVITY: DEVELOP THE MESSAGE YOU WANT TO GIVE TO POTENTIAL STUDENT
REQUIREMENT: FILL IN THE GIVEN TEMPLATE
Attention

Interest

Evidence

Desire

Action

FINAL STATEMENT: -
ACTIVITY: KEY BENEFIT TO STUDENTS
REQUIREMENT: Briefly explain why your message matters to the potential customer?
ACTIVITY: KEY BENEFIT TO STUDENTS
REQUIREMENT: Suggest the best way to communicate your message to your target market.
Explain Why!