this assignment challenges you to examine entrepreneurial opportunities by creating a new value curve.
As discussed in this week’s readings and lectures, a value curve plots multiple metrics that are important for your target customers (i.e. price, ease of use, speed, accuracy) with the low-high measures for competitors and yourself. By examining the existing and expected competitive offerings, you can analyze which metrics to modify in order to create a new value curve.
To develop your value curve for this assignment:
- Select 4 to 8 key metrics that matter to your target customers in their buying decisions. Use your prior Market Analysis, Industry Analysis, and Competitive Analysis, plus new resources.
- Identify 3 to 5 competitors (or categories of competitors) to analyze. Use your prior Market Analysis, Industry Analysis, and Competitive Analysis, plus new resources.
- Plot these metrics and competitors on the value curve, to include your ratings of the metrics per competitor. Do not plot your new venture, yet. PowerPoint or Excel is fine for this graph.
- Author 1 to 2 paragraphs describing your thoughts (with supporting data and research references) on:
- the target market that you selected; and
- why you selected the metrics for the value curve.
5. Author 1 to 2 paragraphs for each of these questions:
- What existing factors can you eliminate?
- Where can you reduce factors and not reduce value?
- Which factors can you raise above competitors?
- What new factors can you create?
6. Lastly, use your analysis from item 5 above to plot your new venture on the value curve diagram started in item 3 above.
Submit items 1-6 as a single document (Adobe pdf format or MS Word format with the graph inserted).