Ka-Product Viability Assessment
June' 2022
'ka-product viability assessment' is a distinct stage in 'ka-product engineering' framework, defining methods and tools to assess a product's market analysis & the associated business' financial viability.
CAUTION: Viability assessments are based on standard practices. When it comes to a startup, the viability assessment may only provide a directional indications. Innovative ideas, especially those that are disruptive innovations, have exhibited characteristics that defy these standard practices. Please avoid using this to curtail your innovative attempts.
About this article
This article details 'Ka-Product Viability Assessment', associated processes, templates and tools. This is a part of ka-product-engineering documentations.
This 'product viability assessment' can be used independent of other components of 'Ka-product engineering framework'. However, it integrates seamless with rest of the components, and we have observed immense value addition.
Hope this is of help to you!
The need
IT, has a natural affinity to operate on best practices & strong architectural principles. However, this has a side effect of IT drifting away from the core business it is trying to support and move towards its own silo.
Of late, there had been attempts to narrow the ridge between IT and the business it supports. Agile model is one such example of that attempt.
For startups built around IT capabilities, existence of this silo would be a disaster. It is difficult for any silo setup to support a reduced Time-To-Market or Fail-Fast. This has also been realized by established enterprises too.
These changing paradigms leave those in IT to be at a cross road between Business Expediency and Established best practices.
Ka framework attempts to merge these seemingly contradicting aspects through its best practices and tools.
Key drivers & objectives
Rapid prototyping
- To increase Time-to-Market and enable Fail-Fast.
- Quick “Concept to Prototype” – key for product’s market viability.
Identify line of business
Market Segments
Customer segmentation
Potential market geography
Categorize geography
Define geographical zones
Any further classifications.
Segregate & define products or service offerings
Pricing model for the products or service offerings.
Product or service package structure
Define segment - demographics characteristics.
Segment Profile Definition
Porter's 5 force
Define Total Addressable Market