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PPORTUNITY SEEKING &

PPORTUNITY SCREENING
LESSON OBJECTIVES:
At the end of the lesson, you will be able to:
- Spot business opportunity through the process of Opportunity
Seeking and Opportunity Screening;
- Apply paint point process through evaluating the case of Red
Mango; and
- Improve your business ideas through market research.
OPPORTUNITY-SEEKING PROCESS
IDEATION DISCOVERY INCUBATION
V
OPPORTUNITY OICE OF CUSTOMER
SEEKING Pain Point Process
Lifestyle Trends
Process of spotting
generating activities
in the marketplace. OICE OF ENTERPRISE
Growth Strategy
HOW TO BE AN ENTREPRENEUR?
Pain hunting
PAIN Identification
Understanding
POINT Healing
process
Cons
umer
Benef
its
Ladd
er
Consumer Benefits Ladder
EMOTIONAL “So how does make me feel?”

FUNCTIONAL “So what do I get?”

FEATURES Product-focused strengths, claims, difference

TARGET AND Consumer Insight:


Consumer Enemy
INSIGHTS Consumer Needs
WRITING A PAK-NA-PAK NA
CONSUMER INSIGHT
THE SITUATION “We enjoy using our outdoor pool but are
often bothered by Mosquitos.”
THE FRUSTRATION “I am hesitant about using personal
repellants on my children because I am
unsure how safe they are.”
THE FUTURE DESIRE “I wish there was an area repellant that
could improve and strengthen protection
around pools so I did not have to use
personal repellants on my children.”
LIFE
HOW PEOPLE:
STYLE Live
TRENDS Work
Play
Die
Invest
SEGMENT
VOICE OF ENTERPRISE
GROWTH
STRATEGY PRODUCT
CHANNEL
GEOGRAPHY
BUSINESS MODEL
OPPORTUNITY SCREENING
5-Point Screening Question
Blue Ocean Strategy
Market Research
5-Point Screening Question
CUSTOMER Is the market real?
TIMING Is it big enough?
FINANCE Can it be profitable?
PRODUCT Can we differentiate?
COMPETITIVENESS Can we win?
?
BLUE OCEAN STRATEGY
BUYER UTILITY
PRICE
COST
ADOPTION
MARKET RESEARCH:
CONCEPT TEST
FGD
IDI
PROTOTYPING

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