Pampanga State University
College of Engineering and Architecture
TECHNOPRENEURSHIP
Module 2: Customers
101
GROUP 1
MODULE OVERVIEW
Define customer needs and
wants
MODULE OVERVIEW
Understand market research
and validation
MODULE OVERVIEW
Identify target
customers
INTRODUCTION
Technopreneurship
INTRODUCTION
Technopreneurship
Technopreneurship begins with the
customer experience and works backward
to arrive at the
technology to provide that customer
experience. Instagram for example, was
born out of the end-users
feverish and eagerness to not only take
pictures but also to share these pictures on
real-time basis.
INTRODUCTION
Technopreneurs
INTRODUCTION
Technopreneurs
A technopreneur constantly learns
and improves, innovates and
disrupts the workings of people,
organizations,
nations as a whole.
UNDERSTANDING CUSTOMERs
Consumer Needs Consumer WANTS
UNDERSTANDING CUSTOMERs
Consumer Needs This is where human psychology and behavior come into play,
which focuses on the premise
that every human has a need.
Needs are what motivate the behavior of people to make a
decision to find a solution, which in
many cases is “consumption behavior”.
The driving force behind the needs of an organization is
determined by the strategic objectives
and the resources required to achieve the objectives, such as
capital, equipment, inventory,
supplies, or services.
UNDERSTANDING CUSTOMERs
A consumer’s wants usually reflect the desired preferences for
Consumer WANTS
specific ways of satisfying a need. Thus, people usually want
particular products, brands, or services that satisfy their needs
in a specific way.
A consumer’s wants usually reflect the desired preferences for
specific ways of satisfying a need. Thus, people usually want
particular products, brands, or services that satisfy their needs
in a specific way.
Do customers always know what they want?
Do customers always know what they want?
Some business owners questions whether or not a strong focus on customer needs
and wants is always a good thing.
Akio Morita (late CEO of Sony) once said:
“Our plan is to lead the public with new products rather than ask them what kind of
products they want. The public does not know what is possible, but we do. So instead
of doing a lot of marketing research, we refine our thinking on a product and its use and
try to create a market for it by educating and communicating with the public.”
Consumer Market Research
Consumer Market Research
While end-consumers may not always be able to accurately describe what they
want, usually is not the same for business-to-business customer.
In contrast, gaining an understanding of consumer markets should be approached
from R&D
perspective. This can be achieved by a conversation (conducted via focus groups,
surveys, etc.) about technical concepts that can be turned into salable products or
services.h a brand influence future decisions. Positive experiences lead to repeat
purchases, while negative ones deter customers.
Market Research and Validation
Is the collection and analysis of data related to a business’s target market
Market Can entail everything from information on competitors’ products to the
interpretation of demographic data related to potential customers.
The main purpose is to gain an understanding of customer needs and wants
Research in an effort to reveal potential business opportunities.
Helps you understand who your competitors are and how they serve the
target market you want to engage.
Market Research and Validation
Is the act of verifying that a specific product is needed
validation in a target market.
This can be done by conducting formal or informal
interviews or surveys with potential customers’
feedback.
Examples of Market Research
A customer focus is critical for business development. It’s important to utilize analytical
insights, market experience, and customer inputs to decide what products or services to make,
what benefits they will offer to customers, and whether customers will value the benefits – at
least enough to make it commercially viable.
The success factor of focusing on the customer often become clear when business attempt
to develop a variety of new product offerings from an already well established and successful
product or technology.
Target Customer Persona
A target audience persona outlines a typical member of a target audience. They are
fictional representations rooted in behavioral data and knowledge that you’ve
gained from getting to know your supporters on a personal level... Personas add
richness to target audiences.
