One is existing market.

So I'll pay 2 per share, which is a little bit of premium over the market value at the time, which was 1.

So, our sales curve in an existing market literally should be one of taking shares.

We're going to go after these set of usuals specifically, and oops, you are wrong.

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And so now you could kind of see the power of the canvass.

And product market fit just simply says what is the match between what you are building and what customers need and want, and who are those customers.

And they had a third, prospective kite surfers, and though I don't think they were this young they were actually trying to understand how to segment their market and what their specific performance needs for kite surfs were in each segment.

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The troll market! The troll market?

If you're doing a clone market that is copying a US business model in a foreign country, that probably is the second closest to immediate profitability because you know the market exist that you just need to implement it in your local country.

There is a type of startup in what we call a new market, and we'll be describing new markets in the Customer Segments lecture.

So in summary, the questions you want to ask are how big can this be, how much of it can we get, what's the growth rate of the market, is the market itself declining or is it in flux or is it taking off? and most importantly here is talk to customers and the sales channel, and next important is you can get some pretty good market size estimates by competitive approximation if it's an existing or resegmented market, or even if we're going to clone a market outside the US.

But in most teams if they are technology driven, they tend to start on value prop and most teams if they happen to be marketers or business people, happen to start with the customer segments.

Maybe if I do it on a small amount,

Slave market?

As was simulated, the value proposition includes all the features of your product but also the pains and gains you're solving for the customer segment and that's where the market goes.

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Segmented

lifecycle adoption curve popularized by Geoff Moore in a book called Crossing the Chasm.

I will go to the market.

In this market?

The stock market is often called a dangerous one.

Another is where you take a segment or re segment an existing market.

It turns out that the type of market changes everything.

Yeah, well, it falls under my premiumservices package, but you can afford that.

Now what does that result in their valuation, or in terms of their market cap?

By the way, what market type are you in?

That gives us 120,000 market cap

Philanthropy is the market for love.

Black Market.

Maybe I know a whole new market.

That one? Is that one the best?

One of the things I just want to reemphasize because we mentioned it earlier is the difference between single sided markets and multi sided markets.

And this is a key idea, value proposition and customer segments are the first two things you tend to work on with the business model canvas.

In an existing market, you actually might need these guys, but in a resegment and in certainly a new market, these are needed for early evangelist and so you need to think through.

Currency and bond markets are relatively calm.

So when they took a look at this day one canvas, the teaching team first said

So, in a nutshell, what we had in traditional Africa was a free market system.

Segment Color

And all of that's great, and it's fine.

Let's say in one part of town, there's some type of a market.