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Identifying the target market
The ideal group of customer to benefit from the solution
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Designing the Value Proposition
The benefits created for the target market
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Defining the Value Delivery Mechanism
Technologies and activities needed to deliver the value proposition
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Formulating the Value Capture Mechanisms
How to capture as much as possible portion of the value in a given industry
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Testing &
Refinments
Testing the main assumptions of the new Business Model and refining accordingly