Know your markets, competitors, customer wants and needs, and what it takes to be competitive in your market.

👥 The whole team can participate | ⏰ quick – about to 10 minutes

Objectives

This exercise helps the team get a large amount of information on the table and quickly build understanding.

During the exercise, everyone should be jotting down questions. Use the “how might we” format to capture opportunities that might be interesting to explore. For example, “How might we build trust?” or “How might we figure out the user’s style?” Often, these end up being extremely useful in next steps for the team.

Instructions

  1. To understand your market and target audience, look at both primary research from internal sources and secondary research from external sources, such as industry business publications and market reports.
  2. If you have existing internal user research for your product, be sure to review it. If not, talk about whatever data you do know about your customers.
  3. Also look at any analytics you have, such as data on feature usage, where customers drop off your site, and conversion rates.
  4. Once you’ve gathered all relevant research, a mind-mapping exercise could help organize your research inventory by getting it down on paper, along with any notes you may have.

Source: 

Google Ventures: http://www.gv.com/lib/the-product-design-sprint-understandday-1

https://www.slideshare.net/almingwork/nyt-product-discovery-activity-guide

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