Industrial Design Bezalel 2002

8 years active designer & design manager

>25 products launched in global markets

> millions units sold of products I designed

failed miserably with a few, too

MBA Strategy major IDC 2010

6 years guiding MBA real strategic consulting projects

Nekuda Design Management physical & digital IOT Innovation

Global Consumer Electronics Samsung, Haier, PepsiCo

NOAM BERNSTEIN

Working on your...

MVPGen2

Product Acceptance

OR ?

worried about...

I don’t need itI don’t understand itI won’t pay for itI won’t recommend it

The face of Market Risk

Impossible to mitigate in houseIrrational by human natureHard to quantify Unpredictable path to solution

Susceptible to opinions and intuitions

Challenges of Market Risk

Market risk is comprised of 2 types:

Category riskimpacts all

players

Private riskProduct-Market

my fit

Your business inherits inherent risks of your category

• User expectations• Product economics & lifecycle• Retail & channel partners power• Regulation• Supply chain & Production • Technology dependencies & hurdles• Investment & ROI cycles

https://9to5mac.com/2016/04/11/apple-watch-sales-

2015-2016/

http://appleinsider.com/articles/16/06/16/jp-morgan-

downgrades-apple-stock-expectations-on-negative-

macro-trends-apple-watch-forecast

Nobody is immune to market risk

Nobody is immune to market risk

by

RESEARCH

YOU CAN Mitigate your Private risk

The Good News

Diabetes algorithm go to market

Empathy

PlanningLogic

Empathy – listening to needs and pains

http://www.bresslergroup.com/wp-content/uploads/2015/11/header_empathy_1.png

“...people don’t know what they want until

you show them” Steve Jobs

(so don’t ask them what

they want!)

Don’t ask me

About my painsWhat frustrates me?

Where do I get stuck?

Ask me

About my lifeHow my day/work feels?

What is meaningful for me? for Features(even if I think I know!)

Meaning

Functionality

Challenge:Leap across

the chasm

Credit: Kozatch Pyramid

Features: Functionality

Benefits: What I get from it

Meanings: How my life might change

Pleasure

Convenience

Usability

Reliability

Aim to create value beyond function

Who to ask? Identify your segments

The Chasm

Different profiles help you roadmap

MVP

GEN2

How many interviews?

2-3to get the interview protocol

right

6-20depending

on segmentsresources

& risk

Interview plan: avoiding your own bias

#1: Who are they? (Demographics)#2: Their jobs, needs, pains? (psychographics)#3: Concept boards / co-creation

Empathy

PlanningLogic

Logic – achieving confidence

Planning Research that will drive confident choice and Action

Executing: Questions Answers Choices Action

Planning: Questions Answers Choices Action

Connecting subjective insights to statistical trends builds confidence

Quant70-200 depending on segmentsValidate profilesLink profiles to segments

Macro ReportsFind fitting segmentsSize your market

Qual6-20 interviewsDiscover needs & painsBuild Profiles

Ensure your data links to Macro reports

Qual:Your specificNeed-related

(psychographic)profiles.

Macro reports:Typically generic

demographic data (age, income, segment size)

Quant:Specific profile

questions

ANDdemographic

validation

Example

My profiles:• Willingness to wear

medical watch• Wrist size (Gender)

Macro reports:

Age Gender Medical condition Insurance

Quant:Will you wear watch?

Wrist size?

ANDGender + Age

+ Medical condition

Structure of a short quant questionnaire

#1 Demographics (easy to answer)#2 psychographics (my profiles)

-----Show Concept boards----

#3 Collect immediate (gut) reactions#4 More thoughtful reactions

Empathy

PlanningLogic

Planning – making it happen

Validate early to reduce the costs of “no-go” or “change” decisions (INSEAD)

Late Decisions have Substantial negativefinancial impact

Early decisions have minimal negative financial impact

$$$$

50%

100%

75%

25%

0%

1 2 3 4 5 6 7 8 9 10 11 12

Cost

months

Start by feeding & validating the MRD

ConceptBoardsValidateConceptfor PRD

P.O.CAlphaValidate Key functions & benefits

Demo

Validate benefits for SW/HWSpec

BetaTestValidatedesign

MVPLaunchValidateMarket

UserResearchValidate needs for MRD

SRRSDR

PDRCDR

FDR

Existing R&D deliverablesArrive very late

new deliverables simulate early

Accurately defined Low-Fi simulationscan be good enough

Empathy

PlanningLogic

Poker apps & women players

NOAM BERNSTEIN

http://www.nekudadm.com/www.linkedin.com/in/noam-bernstein-651ab01

Thank you!