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Write down the product/service/trade in which your have good insight

Criteria for choosing this!

1. This product/service/process can acually make money in real world with an overall big enough addressable market.
2. Only name the core valuable thing and not the business model. For example, dont say telemedicine, but write medical consultation as that is the core product here.

Classify your core value type: Product (Does not need human for value delivery) Service (Need human for value delivery) Trade (Connect a service/product to the market. E.g: Retail)

Is the underlying product/service physical or digital? Physical Digital Note, even in online shopping, the product is still physical. Digital means it is possible to consume the value without any physical presence and remotely. certain things like movies can be both physical (in theatre) or digital(in netflix) depending on your mode of operation.

Choose 1-3 elements which are most important for the target market right now with respect to the underlying intent?

Price

Speed

Efforts (all other frictions apart from money)

Certainty (that the core intent will be completed as expected)

Risk (Possible additional loss if the service/product is used)

Choose 1-3 elements that the target market is somehow satisfied with the current alternatives?

Price

Speed

Efforts (all other frictions apart from money)

Certainty (that the core intent will be completed as expected)

Risk (Possible additional loss if the service/product is used)

Finally answer some contextual questions related to the underlying product or service

Is it of high value? (difficult to get similar product/service for free) Yes No

How often do they need this? Frequently/regularly Infrequently/rarely

Can they somehow predict when will they need this next? Yes No

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