Video Worksheet 9 What Value Do You Bring to the Market
6/01/23
Video Worksheet 9: What Value Do You Bring to the Market? Name:_________________________
Objective: How can you determine if your product or service adds value to someone’s life?
As consumers we make choices constantly. We choose actions and products that we believe will add value to our lives and make us happy. Innovators make crucial decisions about what appeals to people. Innovators use a variety of methods to decide if an idea has potential in a market.
Vocabulary:
Lean Start-Up Model–A business model that prioritizes the creation of a minimal viable product that can be rapidly brought to the market. Using customer feedback, the model allows for swift refinements to the product that aligns with consumer demand, ensuring the existence of a market when the product is launched on a larger scale.
Minimal Viable Product: as simple and inexpensive as possible, with enough features that early adopters might buy it, something that a customer can touch, feel, or experience.
After-watching debrief:
1. In the Lean Start-Up Model, what is the key to being lean and being successful?
2. Why is it important to get feedback about your idea or solution?
3. Give two examples of ways that innovators can get feedback about their solution?
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