01 FB Phase 1 New 052923

recommend different treatment avenues related to your identified problem.

3. STAKEHOLDERS (Based on a lecture by Andrew DiMeo)

5 Min.

30 Min.

Stakeholders include patients, payers, and providers, but also business mentors, investors, and consultants such as quality, regulatory, intellectual property attorneys, business attorneys, accountants, reimbursement specialists, design, and manufacturing firms. The purpose of identifying stakeholders is to be able to understand individual stakeholder group ’ s needs and the value the solution might bring to address those needs. Therefore, it's much more beneficial to segment markets by a stakeholder group. When conducting stakeholder interviewing to learn about needs, stakeholders will express their needs based on their environment. You will want to record as many needs as you can from your stakeholder interviews. After you have conducted several interviews and recorded multiple needs, you will want to zero in on what are your user needs. Look for patterns. If you get conflicting needs from many stakeholders in the same group, you will need to interview more people in that group to see if you can ascertain specific needs common to all. In industry, stakeholder interviewing and validation on an ongoing exercise. The market and needs of stakeholders can change and so it is vital to conduct stakeholder interviewing on a regular basis. It is conducted even for products that are advanced. Defining user needs and revisiting them is critical for good product development. When conducting interviews, different stakeholders will respond differently to the importance of a given problem and their satisfaction level if it is solved. To segment your markets, you must understand what the different stakeholders find valuable. This will allow you to develop a pitch or a value proposition targeted to that stakeholder group later. Also recognize that people don't know what they want. At the turn of the century if you asked a person about transportation needs that might say they needed a faster horse as they could not conceive of an automobile. Henry Ford and Steve Jobs are examples of creative geniuses that developed products that consumers could not imagine but directly

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