Socio-economic trends describe the long-term demographic development and are depicted by age pyramids, income distribution and other models.
4.4 Result of this method
How to use this template?
On the „potential for differentiation“ axis, we plot our estimations of trends, competitiors or changes that intensify the competition in the exiting market or generate new markets.
On the „potential for substitution“ axis, we plot the trends, competitors or changes that have the potential to render our product or service obsolete.
The matrix helps us to prioritize. We can quickly select the most relevant fields and then analyze the chosen trends, start-ups or change processes in more detail by subsequent research.
5. Personas
Personas are fictional characters, which you create based upon your research in order to represent the different user types that might use your service, product, site, or brand in a similar way.
Creating personas helps us to understand users’ needs, experiences, behaviors and goals.
Sources:
6. Qualitative Interview
7. User Journey Map