We've talked about value props, customer segments, channels, customer relationships, revenue streams.

Lifetime value is the customer lifetime value from beginning to end, and just as a note, remember customer acquisition costs acquired over here, needs to be less than customer lifetime value.

Customer lifetime value is exactly what is says.

We've already talked about value propositions, customer segments, distribution channels, customer relationships, and revenue streams.

lifetime value needs to be greater than customer acquisition cost.

And this is a key idea, value proposition and customer segments are the first two things you tend to work on with the business model canvas.

So lifetime value needs to be greater than customer acquisition cost.

But what you need to look at is the customer lifetime value.

As we said earlier, you know now your customer segment's perception of the value of your value prop.

So in our last lectures we talked about value proposition, customer segments, distribution channels, customer relationships get, keeping and growing customers.

We actually get to execute your business model in customer creation and company building.

We talked about value proposition, we talked about customer segments, we talked about channels, but today we're going to focus on customer relationships.

We've talked about value props, customer segments, channels, customer relationships, revenue streams, partners, resources, and activities, and now we get to cost structure.

Do people agree that you're solving a high value problem or need, and do you understand your business model enough to start test selling, which is the next step in customer validation.

And now you could see the customer segment sports jersey owners match the value prop for sports jersey owners and match the revenue model and it's fairly easy to track their thinking.

In most cases, the artist retains ownership of the 3d model the customer only buys the right to use and present the model.

What name do we give the relationship between the value proposition and the customer segment?

What we re really trying to understand first is what value is the customer paying for.

So we covered a lot of material in the customer segment part of the business model canvas.

Because if you think about it, you've been working hard on value prop, and you've been working hard on customer segments and customer acquisition and activation and channel.

Let's take a look at the next step in searching for a business model, and that's customer validation.

Consumer to business (C2B) is a business model in which consumers (individuals) create value and businesses consume that value.

And by the way, not only how much does my customer acquisition cost but what's their lifetime value?

I brought you a customer. Customer?

The order is customer discovery, customer validation, customer creation and company building.

Just as a reminder, what the teams will be starting with in Week 1 is filling out the business model canvas and getting out of the building and testing their hypotheses about the value proposition, customer segments, and channel.

The four elements of the ７Cs Compass Model A formal approach to this customer focused marketing mix is known as Four Cs (Commodity, Cost, Channel, Communication) in ７Cs Compass Model.

Notice by the way, while they were working on value proposition, they also had some hypothesis about the customer segments.

Customer

Customer!

Customer!

Customer?

Customer,

Customer...

Customer.....

Customer.

Customer centric relationship management (CCRM) CCRM is a style of customer relationship management that focuses on customer preferences instead of customer leverage.

Once you have verified the lamps are working correctly go back to setting 238 and change the value to ten or whatever value the customer would like for this setting

So as we said, understanding these 3 components of value proposition work together with understanding the 3 components of customer segments.

The customer is happy, because the customer is God.

A high R squared value does not necessarily mean the model fits the data well.

So, while the goal in value prop is to figure out the MVP, yes, we il see later the goal in customer segments is to figure out who and what the archetype of the customer is.

Hey... Customer...

A customer?

Another customer.