By responding to trends, companies can focus on better the consumer. That’s exactly what the Consumer Trend Canvas can help with. This model is a demand-driven approach that can clearly show what consumers want and how a company can best develop and innovate its products.
A Job to be Done is the process a consumer goes through whenever she aims to change her existing life-situation into a preferred one, but cannot because there are constraints that stop her.
A journey map is a visualization of the process that a person goes through in order to accomplish a goal.
An empathy map is a collaborative visualization used to articulate what we know about a particular type of user. It externalizes knowledge about users in order to 1) create a shared understanding of user needs, and 2) aid in decision making.
“How might we” (HMW) questions are short questions that launch brainstorms. HMWs fall out of your
point-of-view statement or design principles as seeds for your ideation.
The problem analysis canvas is a way of stating the problem helps everyone better understand the complexity of the problem, completely leaving out the solution
TAM SAM SOM is a way of understanding your business’ relationship to market size. Your industry’s total addressable market, serviceable addressable market, and share of market.
Although the universe of noncustomers typically offers blue ocean opportunities, few companies have keen insight into who noncustomers are and how to unlock them. To convert this huge latent demand into real demand in the form of new customers, companies need to deepen their understanding of the universe of noncustomers.
Porter’s Five Forces Framework is a method for analyzing competition of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability. An “unattractive” industry is one in which the effect of these five forces reduces overall profitability. The most unattractive industry would be one approaching “pure competition”, in which available profits for all firms are driven to normal profit levels. The five-forces perspective is associated with its originator, Michael E. Porter of Harvard University.