Value Proposition: Mass Market (Revisited)

venture-lab.org frames evaluating value propositions in terms of Hypothesis, Experiments, Results, and New Hypothesis (ie, how have the results impacted the originally hypothesized value proposition). Here is our progress, with the “Mass Market” customer segment.

Hypothesis

  1. Provide user friendly search tool that collects “for free” or “cheap” online or local classes
  2. Learning Management System to create learning paths, based on user ambitions, utilizing said search.
  3. Social media apps (FB, G+, LI) that shows off courses being taken and allows users to share what their doing and invite friends or contacts

Experiments

We created a survey (https://e2venture.wordpress.com/feedback-surveys/mass-market-survey/), in which we obtained 74 respondents.


Results

  1. 88% are interested in taking online classes
  2. 70% have considered taking not-for-credit sources of learning
  3. Inhibiting factors for pursuing online education include
    54% – cost
    65% – time
    41% – unable to find interesting classes
  4. When asked “Would you be interested in a search engine for the following types of online learning material?”
    80% – free classes
    34% – “pay for” classes
    49% – For credit
    42% – Not for credit
  5. 81% Would be interested in using a “Learning Management System” that allows you to plan and track your learning paths based on online courses taken from various online sources.
  6. 53% would share their progress with friends, coworkers or people with similar interests

New Hypothesis

  1. For the search engine, the largest interest lies with free classes, although some would still find value in finding “pay for” classes. Receiving credit for the classes is less of an issue, as respondents poll “for credit” and “not for credit” nearly equally. This suggests we should put extra emphasis on presenting users with free online classes, regardless of credit offering.
    Availability of time is the biggest inhibiting factor for pursuing online education, which is outside of our control. However, as an added benefit to finding free classes, we would be able to help 41% in finding interesting classes they are having difficulty locating on their own. I would have expected this to be a higher number, but it takes no additional effort to satisfy that 41% since finding relevant info comes with the nature of a search engine.
  2. The value of the LMS appears to have been met favorably, with 81% responding affirmative. This will be an essential feature for success.
  3. However, the social media aspect was met less favorably at only 53%. While it is a feature we’d like to add, perhaps it is not best being set as an initial priority.

Some additional comments that were made, in regards to features, included:
a. “I think that is very important is be able to access the classes material after the course finish.”
b. In summary, “I am interested in taking classes for personal enrichment, rather than employment.”
c. In summary, “It should promote user satisfaction, to keep the user motivated since no one is there to push them. Therefore, must have good UI, UX.”
d. “Payment should be done with multiple means.”
e. In summary, “This could empower those who don’t have the means to go to a proper university.”

 

Featured image source: http://ericacammarata.files.wordpress.com/2012/04/education.jpg

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