Session 2_IMVU.docx

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1. What are principles that characterize the There.com approach vs. the IMVU approach? There.com: IMVU: First in the market, therefore no learnings from before Approach for constant cross check with the customers Wanted to introduce the perfect product, tested before to avoid customers’ disappointment with quality Lack of surprise element while entering the market with the "final product”, as the game was already there Focus groups orchestrated to get required answers Learning and listening to the customers’ needs and then reshaping the game Building product before understanding market needs/ecosystem Lack cross-checks with the market needs guided the product to be complete failure 2. How do you evaluate the different approaches? 1. How well do you understand this market? a. While There.com entered the market believing they know what the customer need and mastering the game before introduction IMVU pursued better approach to learn who are the users and what the customer wants (different apparel and options for more mature users) 2. Monetization a. While There.com had a ready product with fixed pricing, IMVU after seeing the
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