Definitions for Business Model Canvas

For awhile I've been taking classes online for entrepreneurship this is just one of many articles I will be writing. Here this the start of them and some notes for myself, under the label "business".

Value Propositions - an innovation, service, or feature intended to make a company or product attractive to customers.

Customer segmentation - is the practice of dividing a customer base into groups of individuals that are similar in specific ways relevant to marketing, such as age, gender, interests and spending habits. Customer segmentation, also called consumer segmentation or client segmentation, procedures include:
  • Deciding what data will be collected and how it will be gathered
  • Collecting data and integrating data from various sources
  • Developing methods of data analysis for segmentation
  • Establishing effective communication among relevant business units (such as marketing and customer service) about the segmentation
  • Implementing applications to effectively deal with the data and respond to the information it provides

A distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. It can include wholesalers, retailers, distributors and even the internet itself.

Pivot - When your hypnosis doesn’t match what the customer realities. Allows you to get out and make changes to the product.

Product Market Fit - is the marketplace in which final goods or services are offered for purchase by consumers, businesses, and the public sector. Focusing on the sale of finished goods, it does not include trading in raw or other intermediate materials.

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