Checklist for Startups All startups could do well to address the following basic questions regarding their markets: 1. Who is your Customer? (here, the Customer is the person who takes a decision to purchase your product) 2. Which need(s) of the Customer are being satisfied by the Producti? (the Product could satisfy an existing need, such as Travel Bookings, or a perceived need, such as Online Tracking of family members)? 3. How is the Customer’s need being met at present? 4. What is Competition like? 5. How does your Product compare with the Competitor’s product? 6. Why would the Customer buy your Product? WHAT IS YOUR VALUE PROPOSITION TO YOUR CUSTOMER?
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The term “Products” is used in the wide sense, and this includes Services as well