Question

What is a buyer values visualization?

A buyer values visualization is a tool that allows the input of data from market research to rank different aspects of a product or service based on whether or not users will value it. It lists out the expected value a user wants from a product along with the opportunity that exists to service that market. It can help identify markets with high opportunity or potential, as well as those with minimal to no opportunity, which should be avoided.

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The first step to any market entry is an assessment of the opportunity available. This buyer values visualization allows the input of data from market research to rank different aspects of a product or service based on whether or not users will value it. The expected value a user wants from a product is listed out along with the opportunity that exists to service that market. For example, an existing market comes with high opportunity based on past precedents, while an emerging market has high potential with less competition to gain a first-mover advantage. A market with minimal to no opportunity should be an area to avoid the dedication of further resources. (Slide 3)

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