Week 3 - Value Proposition Canvas

    The Value Proposition Canvas is a tool that helps you design, test, and build products and services that customers actually want. It is a useful tool for entrepreneurs, innovators, marketers, designers, and anyone who wants to create products and services that customers love. It consists of two parts: the value map and the customer profile. 

   The value map helps you define how your product or service creates value for your customers. It consists of three elements: products and services, pain relievers, and gain creators. Products and services are the features, functionalities, or attributes that you offer to your customers. Pain relievers are the ways that your products and services alleviate or eliminate the pains of your customers. Gain creators are the ways that your products and services increase or create the gains of your customers. 

    The customer profile helps you understand the jobs, pains, and gains of your target customers. Jobs are the tasks, problems, or needs that customers want to accomplish or satisfy. Pains are the negative outcomes, risks, or obstacles that customers experience or fear in relation to their jobs. Gains are the positive outcomes, benefits, or aspirations that customers expect or desire from their jobs. 

    The value proposition canvas helps you align your value proposition with your customer segment by matching the pain relievers and gain creators with the pains and gains of your customers. It also helps you identify the fit between your value proposition and your customer segment by measuring how well you address the most important jobs, pains, and gains of your customers. 

    Our team, The Gamechangers, made a critical mistake in the customer discovery process by failing to prioritize the needs and pain points of potential customers. Instead of using the value proposition canvas to guide our interviews, we presented our top 3 ideas and asked for feedback. This approach hindered our ability to accurately assess the customers' needs and preferences, leaving us unsure if our ideas truly resonated with them. However, despite this setback, we were able to extract valuable insights from the interviewees, who provided constructive feedback on our ideas and highlighted common issues they faced. We recognized the need to improve our approach and incorporate the customers' perspectives in the ideation process, leading us to pivot our strategy for future customer discovery activities.

Conclusion

    After conducting an interview with our potential customers, we conclude that our Idea 1 resonated with them the most. The majority of our interviewees expressed a strong preference for this idea, citing their frequent encounters with the problem we proposed in their daily commutes via public utility vehicles. Their feedback provided crucial insights that validated the relevance and potential impact of our proposed solution, highlighting the urgent need to address this issue. With this valuable feedback, we can now move forward in our approach and focus our efforts on developing a solution that addresses the needs and preferences of our target audience.