Which method tests whether customers would be willing to pay for a solution?

The method that specifically tests whether customers would be willing to pay for a solution is customer validation. This phase of the startup process involves collecting feedback from potential customers about the product or service being offered and assessing their willingness to make a purchase. Customer validation seeks to confirm whether the perceived value of the solution aligns with what customers are actually ready to pay, thus validating the business model.

During customer validation, startups often use techniques such as surveys, interviews, and prototype testing to gauge interest and gather insights into pricing. This helps entrepreneurs understand not only the demand for their product but also the price points that customers find acceptable.

In contrast, market segmentation focuses on dividing the broader market into smaller, more manageable segments based on specific characteristics. Customer discovery involves exploring customers’ needs and pain points, but it does not specifically address their willingness to pay. Market opportunity looks at the potential market size and revenue possibilities, which is more about assessing the overall market dynamics rather than direct customer feedback on pricing. Therefore, customer validation is the most accurate method for directly testing customer willingness to pay for a solution.