CORPORATE INNOVATION &PRODUCT MARKET FIT
Helping Corporate Intrapreneurs build their product alignment to the market.
Watkins Bay's Product - Market Fit Bootcamp uses Design Thinking and various Hum Centred Design Tools and other Economic and Customer experience frameworks, tools, templates, proven methodologies and concepts to identify opportunities and a pathway to unlocking value rapidly for growth by aligning the product to the market..
Watkins Bay 2 + 3 Day Product Market Fit Bootcamp.
You don't need to do it on your own.
Overview
Watkins Bay's Product > Market Fit Bootcamp is a five-day iterative program incorporating a functional team of between 7 and 10 members plus internal experts, customers, suppliers, distribution partners, and other stakeholders at relevant stages to dive deep into a specific opportunity and unlock specific value. It is held initially over 2 days with an additional 3 days over the following three weeks and then a number of milestone gate catchups of=ver the following 90 days.
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The Watkin's Bay Product > Market Fit Bootcamp is best suited for
a team that has a budget and mandate to launch a new product but has challenges in the execution in short time frames. The program
is an iterative process, with each step, day, week and month building
on the other, testing the current assumptions and feeding
back to previous steps any learnings to further develop
the Product Roadmap, feeding into the Go-To-Market Plan.
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The five-day program starts at 09:30 am daily with a
morning and afternoon break of 20 minutes plus a lunch
break of one hour. The day will finish at 5:00 pm each day.
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As part of the program, there are three additional check-ins
with the team over the following 90 days to review actions
from the plan, benchmark against metrics, and codify any
learnings, and adapt the plan for continued iterative
execution.
Ultime notizie
Day 1 is integral to the program as it lays the foundations for future referencing, direction and team alignment. The laying of these foundations, based on research and allow a greater understanding of what the problem is that your customers want to be solved and are willing to change their behaviour and pay for your offering, what makes your solution/product/service different from the competition including insights into the question whether the growth opportunity, if you have a great product-market fit, is actually worth solving. That is, is there future growth?
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The Watkins Bay Corporate Innovation Team uses a defined set of tools and frameworks to provide the right mix of structure, flow, ideation and validation of each step to ensure a clear understanding of the landscape for future critical thinking and alignment with your product to the market.
AGENDA
CHARACTERISTICS OF PRODUCT > MARKET FIT​
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EXPLORATION OF CASE STUDIES: WHY THEY WORK
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UNDERSTANDING YOUR MARKET: "A DATA DIVE"
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UNDERSTANDING YOUR CUSTOMER
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DEFINE THE PROBLEM
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COMPETITIVE REVIEW
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DEFINE VALUE PROPOSITION
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OUTLINE PRODUCT VISION
TIMINGS
START TIME: 09:30 am
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BREAK: 11:30 am (20 Minutes)
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LUNCH: 1:00 pm (1 Hour: Catering Provided)
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BREAK: 3:00 pm (20 Minutes)
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FINISH: 5:00pm
Day 2: "Prototyping and MVP Definition"
Day 2 progresses through the fundamental concepts of the Product - Market Fit for the defined customers by linking the capabilities of the product or service to the problem and benchmarking the critical aspects of this offering to the competition > Differentiation.
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Engagement with customers, experts and internal stakeholders is critical during Day 2, as is the previous research work on customers and their feedback on the last prototype work, if applicable.
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The Watkins Bay Corporate Innovation Team uses a defined set of tools and frameworks to provide the right mix of structure, flow, ideation and validation of each step to ensure that there is a clear understanding of the Value Proposition and what makes the offering different to that of the competition or substitutes
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AGENDA
UNDERSTANDING PROTOTYPING AND TESTING
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ESTABLISH 3 OPTIONS FOR TESTING: DEFINE MVP FOR EACH​
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IDENTIFY TEST GROUP
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SET TESTING METRICS AND DEFINITION OF SUCCESS
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BUILD OUT TEST REGIMES TESTING PLAN A-B-C TESTS
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DATA CAPTURING MECHANISMS AND REPORTING
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TIMINGS
START TIME: 09:30 am
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BREAK: 11:30 am (20 Minutes)
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LUNCH: 1:00 pm (1 Hour: Catering Provided)
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BREAK: 3:00 pm (20 Minutes)
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FINISH: 5:00pm
Ultime notizie
Day 3 builds on the previous two days with an initial analysis of customer feedback on the various market tests. The team will go deeper into competitor offerings, customer journey maps, empathy maps and customer personas and initial validation of the problem and whether the product is a solution customers initially would pay for. Initial price testing relating to inelastic and elastic consumption behaviours based on various price points.
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Continued engagement with customers, experts, suppliers and internal stakeholders is critical during Day 3, as gaining specific feedback on various price models and understanding key cost drivers may impact profitability in the short and long term.
​
The Watkins Bay Corporate Innovation Team uses a defined set of tools and frameworks to provide the right mix of structure, flow, ideation and validation of each step to ensure that there is a clear understanding of the various price options, the elasticity of demand, cost drivers which will impact profitability and operational and systems that may impact profitability.
AGENDA
TIMINGS
INITIAL CUSTOMER FEEDBACK
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REVIEW OF PRICING MODELS AND OPTIONS
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PRODUCT SCORING
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GAP ANALYSIS
COMPETITION BENCHMARKING
PRESSURE POINTS
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OTHER KEY LEARNINGS
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A-B TEST PHASE 2 DESIGN​
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START TIME: 09:30 am
​
BREAK: 11:30 am (20 Minutes)
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LUNCH: 1:00 pm (1 Hour: Catering Provided)
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BREAK: 3:00 pm (20 Minutes)
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FINISH: 5:00pm
Day 4: "Protoype Testing 2: Results & Iteration"
Day 4 builds on the previous prototyping testing with an initial analysis of customer feedback on the various market tests. However, this time with greater structure and detail on previous identified gaps and customer pressure points. The team will go deeper into competitor offerings, customer journey maps, empathy maps and customer personas and initial validation of the problem and whether the product is a solution customers initially would pay for. Initial price testing relating to inelastic and elastic consumption behaviours based on various price points.
​
Continued engagement with customers, experts, suppliers and internal stakeholders is critical during Day 3, as gaining specific feedback on various price models and understanding key cost drivers may impact profitability in the short and long term.
​
The Watkins Bay Corporate Innovation Team uses a defined set of tools and frameworks to provide the right mix of structure, flow, ideation and validation of each step to ensure that there is a clear understanding of the various price options, the elasticity of demand, cost drivers which will impact profitability and operational and systems that may impact profitability.
AGENDA
TIMINGS
START TIME: 09:30 am
​
BREAK: 11:30 am (20 Minutes)
​
LUNCH: 1:00 pm (1 Hour: Catering Provided)
​
BREAK: 3:00 pm (20 Minutes)
​
FINISH: 5:00pm
INITIAL CUSTOMER FEEDBACK
​
REVIEW OF PRICING MODELS AND OPTIONS
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PRODUCT SCORING
​
GAP ANALYSIS
COMPETITION BENCHMARKING
PRESSURE POINTS
​
OTHER KEY LEARNINGS
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A-B TEST PHASE 2 DESIGN​
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Ultime notizie
Day 5 builds on the previous prototyping testing with an initial analysis of customer feedback on the various market tests. However, this time with great clarity of the product roadmap and sequencing of releases and a sophisticated pricing strategy to be implemenented.
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greater structure and detail on previous identified gaps and customer pressure points. The team will go deeper into competitor offerings, customer journey maps, empathy maps and customer personas and initial validation of the problem and whether the product is a solution customers initially would pay for. Initial price testing relating to inelastic and elastic consumption behaviours based on various price points.
​
Continued engagement with customers, experts, suppliers and internal stakeholders is critical during Day 3, as gaining specific feedback on various price models and understanding key cost drivers may impact profitability in the short and long term.
​
The Watkins Bay Corporate Innovation Team uses a defined set of tools and frameworks to provide the right mix of structure, flow, ideation and validation of each step to ensure that there is a clear understanding of the various price options, the elasticity of demand, cost drivers which will impact profitability and operational and systems that may impact profitability.
AGENDA
INITIAL CUSTOMER FEEDBACK
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OTHER KEY LEARNINGS
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PRODUCT ROADMAP CURATION
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PRICE PLANNING
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INITIAL GO-TO-MARKET FRAMING​
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A-B TEST PHASE 2 DESIGN​
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TIMINGS
START TIME: 09:30 am
​
BREAK: 11:30 am (20 Minutes)
​
LUNCH: 1:00 pm (1 Hour: Catering Provided)
​
BREAK: 3:00 pm (20 Minutes)
​
FINISH: 5:00pm
Ultime notizie
The Watkins Bay Team have decades of experience in Product Design (link to Product Page > Product Market Fit) in execution and tertiary education with their work at Monash University and the University of California San Diego. Below are examples of the tools, templates, frameworks and empirical research methods that Watkins Bay adopted and developed.
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TOOLS & TEMPLATES
DIGITAL COLLABORATION BOARD
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KNOWLEDGE SHARING PLATFORM
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COMMUNICATION PLATFORM
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TASK MANAGEMENT PLATFORM
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PROTOTYPING AND TEST PLAN TEMPLATE
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90 DAY DASHBOARD
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FRAMEWORKS / RESEARCH METHOD
MODIFIED DESIGN THINKING APPROACH
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WATKINS BAY PRODUCT > MARKET FIT FRAMEWORK
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EMPIRICAL RESEARCH FRAMEWORKS / METHODS
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MODIFIED SYSTEMS THINKING
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MODIFIED AGILE APPROACH
