customer analytics Consumer analytics is the process of using data to understand customers, including their needs, behaviors, and satisfaction. It helps businesses improve products, services, and sales

customer analytics Consumer analytics is the process of using data to understand customers, including their needs, behaviors, and satisfaction. It helps businesses improve products, services, and sales

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  ENGINEERING ENTREPRENEURSHIPAND IPR UCEST206 Module-2
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  Problem and solutioncanvas preparation ● Orientation and canvas introduction ● Customer needs assessment ● Market segmentation ● Value proposition ● Competitive analysis ● Market entry strategy ● Market validation ● Regulatory and legal considerations. Customer profiling ● Review of market research ● Customer segmentation ● Customer profiling ● Persona development ● Validation and feedback ● Prioritisation and selection ● Communication and messaging Competitor analysis ● Identify competitors ● Competitor profiling ● SWOT analysis ● Market positioning ● Customer feedback and reviews ● Pricing analysis ● Differentiation strategy ● Benchmarking and improvement Module -2
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  Problem and solutioncanvas preparation •The Problem and Solution Canvas is a strategic tool used to identify and address business challenges systematically. •Problem-Solution canvas is a tool for entrepreneurs, marketers and corporate innovators, which helps them identify solutions with higher chances for solution adoption, reduce time spent on solution testing and get a better overview of current situation. •It involves understanding customer needs, segmenting the market, defining a value proposition, and planning market entry strategies. This approach ensures that solutions are tailored to real market demands and are competitive.
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  Steps involved inProblem and Solution Canvas preparation 1: Orientation and Canvas Introduction EX.: Startup Incubator Program, University Entrepreneurship Course 2: Customer Needs Assessment -surveys, interviews, and market research 3. Market Segmentation -demographics, psychographics, behaviour….. 4. Value Proposition –Unique solution to pain points 5. Competitive Analysis –SWOT 6. Market Entry Strategy -channels, marketing tactics, and partnerships to reach the target audience 7. Market Validation-gather feedback and validate assumptions 8. Regulatory and Legal Considerations -industry-specific regulations, obtain necessary licenses, and address any legal issues. Example : Fintech Solutions –RBI regulations Food and Beverage Industry -FSSAI standards
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  Example : AffordableHealthcare Services in Urban Slums Problem: Access to affordable healthcare is a significant issue in urban slums in India.
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  •Customer Needs Assessment:Residents need affordable and accessible healthcare services. • Market Segmentation: Focusing on low-income families in urban slums who lack access to quality healthcare. • Value Proposition: Offering affordable healthcare services through mobile clinics, community health workers, health insurance schemes and telemedicine. • Competitive Analysis: Analysing existing healthcare providers and identifying the lack of affordable options in slums. • Market Entry Strategy: Partnering with local NGOs and community leaders to build trust and awareness. • Market Validation: Conducting health camps to understand the specific health needs and gather feedback. • Regulatory and Legal Considerations: Ensuring compliance with healthcare regulations and obtaining necessary licenses.
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  Mobile clinics Provide essentialservices like vaccinations, health education, and maternal care in underserved areas Can be staffed and transported with corporate resources Community health workers Provide basic health education and facilitate access to services Can help bridge the gap between healthcare providers and community members Health insurance schemes Provide financial protection for hospitalization and curative care. For example, the Rashtriya Swasthya Bima Yojana (RSBY) provides financial protection for families living below the poverty level
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  A Business ModelCanvas (BMC) is a one-page template that helps business owners and stakeholders define and evaluate business models. A business canvas model is a document that illustrates a business's key components and how they work together. Business Model Canvas (BMC) https://www.productcompass.pm/p/business-model-canvas-examples
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  CUSTOMER SEGMENTS - Ex:Children &Adult VALUE PROPOSITION - Offers a guaranteed short delivery time (Domino's Pizza) - Quality improved - Faster service CHANNALS - The methods to communicate/deliver value to its customer - Ex: Web, Social media, … CUSTOMER RELATIONS -Feedback Live chat REVENUE STREAMS -Sources of income for the business KEY ACTIVITIES -Construction -Website launching, -Marketing … KEY RESOURCES -Resources to run the business - Physical equipment, intellectual property, human capital… KEY PARTNERS -Investors COST STRUCTURE -Development -Salary of employees -Marketing expenses Business Model Canvas
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  1- Customer Segments– This block defines the target audience or different groups of customers a business aims to cater to. 2.Value Proposition – This block defines the unique value proposition a business offers to its customers to solve their problems and meet their needs. 3.Channels – This block defines the channels or methods used by businesses to reach, engage, and interact with customers. 4.Customer Relationships – This block details the relationships the business establishes with its varied customer segments. Business Model Canvas …Components
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  5.Revenue Streams –This block identifies the revenue streams for the business or sources from where it generates revenue. 6.Key Resources – This block details all the resources needed to serve customers and effectively deliver them the value proposition. 7.Key Activities – This block defines the most important activities performed by the business to stay operational. 8.Key Partnerships – This block details all the collaborations that a business undertakes to optimize resources and operations. 9.Cost Structure – This block outlines all the costs a business incurs to run the operations successfully.
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  • Prepare aBusiness Model Canvas for an EV Charging Station
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  1. Key Partners: MapData Providers: Companies and organizations that supply geographical data, satellite imagery, and traffic information. Local Businesses: Partnerships with local businesses for advertising and featured listings. Technology Partners: Companies that provide cloud services, APIs, and other technological support. Government Agencies: Collaboration for access to public infrastructure data and regulations. Automotive Companies: Partnerships for integrating Google Maps into vehicle navigation systems. 2. Key Activities: Map Data Collection and Updating: Gathering and updating geographical data, traffic information, and user-generated content. Product Development: Enhancing features such as navigation, real-time traffic updates, and street view. Advertising Management: Managing and optimizing ad placements and sponsored listings. Customer Support: Providing support for users and businesses using Google Maps. Platform Maintenance: Ensuring the reliability and scalability of the Google Maps platform.
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  3. Key Resources: TechnicalInfrastructure: Data centers, servers, and cloud computing resources. Talent: Engineers, designers, product managers, and data scientists. User Data: Anonymized user data to improve service accuracy and personalized experiences. Brand and Reputation: Google’s strong brand and trust among users. 4. Value Propositions: Accurate Navigation: Reliable directions and real-time traffic updates. Comprehensive Mapping: Detailed maps with a wide range of geographical information. User Convenience: Easy-to-use interface with features like voice navigation and offline maps. Local Business Visibility: Platform for businesses to advertise and increase visibility. Integration: Seamless integration with other Google services and third-party applications.
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  5. Customer Relationships: Self-Service:Users can access and use Google Maps without direct interaction with Google. Community Engagement: Users contribute to the platform through reviews, photos, and map edits. Personalized Experience: Tailored recommendations and routes based on user preferences and history. Support Channels: Online help centers, forums, and customer support for troubleshooting and feedback. 6. Channels: Mobile Apps: Google Maps app available on iOS and Android. Web Interface: Accessible through any web browser. APIs: Google Maps API for integration with third-party apps and services. Automotive Systems: Embedded in car navigation systems. Smart Devices: Integration with smart devices like Google Home. 7. Customer Segments: General Public: Individuals using Google Maps for personal navigation and location searches. Businesses: Local businesses and enterprises leveraging Google Maps for advertising and visibility. Developers: Companies and developers using Google Maps API to enhance their own applications. Tourists: Travelers seeking directions, local attractions, and services. Commuters: Daily commuters relying on real-time traffic updates and efficient route planning.
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  8. Cost Structure: InfrastructureCosts: Maintaining servers, data centers, and cloud services. R&D Expenses: Continuous improvement and development of new features. Salaries: Compensation for employees across various departments. Marketing and Sales: Promoting the service and acquiring new users and business partners. Licensing Fees: Payments to data providers and third-party services. 9. Revenue Streams: Advertising: Revenue from local business ads and sponsored listings. API Usage Fees: Fees charged to developers and businesses using the Google Maps API. Data Licensing: Selling anonymized data insights to businesses and researchers. Premium Features: Subscription fees for advanced features and enterprise solutions. Partnership Deals: Revenue from strategic partnerships and collaborations.