Tool Summary #4 ALL SOLUTION LATEST 2022 EDITION 100% CORRECT
GUARANTEED GRADE A+
1. State the 5 assumptions
➢ 1. Think like an entrepreneur
➢ 2. Assume that industry conditions can be shaped and are NOT given
➢ 3. DO NOT FOCUS on competition in mature industries
➢ 4. FOCUS on total solution sought by bulk of customers
➢ 5. FOCUS on the commonalities in what customers value NOT THE
DIFFERENCES
2. Explain the procedure
➢ Step 1: Select the two largest segments for your market
➢ Step 2: Identify Factors of Competition
➢ Step 3: Map the Performance on an X and Y Axis by “High” and “Low”
➢ Step 4: Create a New Value Curve
3. Explain your example (Southwest Airlines)
➢ Two main market segments that will be combined
• Business travelers and Leisure Travelers
➢ List of all factors of competition
• Speed
• Seat Space
• Flight quality
• In-flight food choice
• Amenities
• Price
• Cleanliness
• Customer Service
• Flight destinations
• Bag weight limit
GUARANTEED GRADE A+
1. State the 5 assumptions
➢ 1. Think like an entrepreneur
➢ 2. Assume that industry conditions can be shaped and are NOT given
➢ 3. DO NOT FOCUS on competition in mature industries
➢ 4. FOCUS on total solution sought by bulk of customers
➢ 5. FOCUS on the commonalities in what customers value NOT THE
DIFFERENCES
2. Explain the procedure
➢ Step 1: Select the two largest segments for your market
➢ Step 2: Identify Factors of Competition
➢ Step 3: Map the Performance on an X and Y Axis by “High” and “Low”
➢ Step 4: Create a New Value Curve
3. Explain your example (Southwest Airlines)
➢ Two main market segments that will be combined
• Business travelers and Leisure Travelers
➢ List of all factors of competition
• Speed
• Seat Space
• Flight quality
• In-flight food choice
• Amenities
• Price
• Cleanliness
• Customer Service
• Flight destinations
• Bag weight limit
