Value proposition testing
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This presentation gives the summary of the Survey Results that my team carried out to test the Value Proposition Hypothesis of our Business Idea.
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Value proposition testing
- 1. VENTURE LAB 2012 OPPORTUNITY ANALYSIS PROJECT Submitted By: Team ‘Online Ventures’ Members: Amit Kumar Pandey Abhay Kela Pranay Bhardwaj Vishal Shrivastav Value Proposition Hypothesis Testing Summary of Survey Results
- 3. Value Proposition Hypothesis and Experiment Hypothesis Experiment There are many people out there who are fond of reading books. To test our Value However, not many of them are proposition hypothesis, regular in reading books because the new books are costly. People we designed an Online are comfortable with reading old Survey using Google books (the ones already read by someone else). Our idea revolves Documents and asked around providing all such people who would like to read their favorite our friends to fill up the titles in 2nd hand or 'old used books', an online portal where they survey. The survey can can order books. Our platform will be assessed at also provide an opportunity to people who normally buy new Survey books but would like to sell them after they have read them.
- 4. Advanced Market Analysis Customer Preference Trends
- 5. Advanced Market Analysis 67 % of consumers who would like to read ‘used books’ will also like to buy them through an online portal. 55 % of consumers would like to BOTH Buy ‘Used Books’ and Sell Books Online.
- 6. Advanced Market Analysis 53 % of customers who BUY Books Online would like to read ‘Used Books’ and Buy them through an Online Portal.
- 7. Survey Results As on 12th May, 2012 Total Responses: 55
- 8. Response Demographics Age Distribution Profession < 20 Years 20 - 30 Years Student Professional 30 - 45 Years 4% 9% 44% 56% 87%
- 9. Market Assessment Analysis How Often Do You Buy Average Monthly Online Things Online? Purchase Value Regularly Occasionaly Never < 1000 1000 - 5000 > 5000 2% 7% 22% 24% 74% 71%
- 10. Market Assessment Analysis Do You Buy Books Typically, How Many Books Online? Do You Read Monthly? Everytime Occasionaly Never 1-2 2-5 >5 2% 14% 22% 24% 74% 64%
- 11. Market Assessment Analysis What Kind of Books Do How Much Do You Usually You Read Normally? Spend On a Book? < Rs. 200 Rs. 200 - Rs. 500 Academic Non-Academic > Rs. 500 Price Range Not a Problem 13% 24% 40% 3% 60% 60%
- 12. Market Assessment Analysis Would You Like to Read Would You Like To Buy 'Used 'Used Books' of Your Books' Through an Online Favourite Titles? Portal? Yes No Don't Know Yes No Don't Know 7% 6% 16% 25% 69% 77%
- 13. Market Assessment Analysis Would You Like to Sell Books That You Have Read Previously? No 35% Yes 65%
- 14. Hypothesis Test Evaluation Proposed ‘Value Proposition’ in our S Business Model is correct and U hence, No Change of Hypothesis. M Customers are willing to take the M solution that we planned to solve through our idea. A R Y