Week 4

There are four steps we will need to consider to draw up a compelling value proposition.  First, we need to decide whether the problem is worth solving.  For example, we should ask ourselves whether the particular problem we are trying to solve is unavoidable or urgent.  A more unique and feasible solution will attract a larger crowd of consumers.  The second question we should consider is whether the problem is blatant, latent, aspirational, and critical.  Does it match up to our social needs at this time and place?  If so, it may be a suitable problem to work on.  Moreover, we have to evaluate whether the breakthrough is unique and compelling.  We have to analyze whether the breakthrough solves something from an untraditional point of view and whether this will produce a profit in today's market.  Lastly, we need to measure the potential customer adoption.  How much will the customer gain by using it and how much is the pain for the customer to adopt it?

By analyzing through these 4 steps, we can have a more clear knowledge of our technology and the market.

Unfortunately, we were not able to meet with any of the professors from the patents we chose, so we will be doing separate research on the patent.

Works cited:
http://www.forbes.com/sites/michaelskok/2013/06/14/4-steps-to-building-a-compelling-value-proposition/#1f2388541f2c