Assignment
Maximum of 100 words
What key activities do our value propositions require in order to produce, market and deliver them? What about channels, customer relationships, different revenue streams?
What value do we deliver to the customer? Which of our customer’s problems are we helping to solve? Which customer needs are we satisfying?
How will we raise awareness of our products and services with our target customer segments? What messages or offers will create desire and interest? How will those messages reach our potential customers?
How will customers purchase and receive the product or service? What about after sales support e.g. returns? Where will the marketing communication direct customers to?
What key resources do our Value Propositions require e.g. physical, intellectual, human, financial? What resources do our channels, revenue streams, customer relationships require?
What are the most important costs inherent in our business model? (think about fixed and variable costs). Which resources and key activities are most expensive?
Is the business model more cost driven (helping the customer save money) or value driven. Is there an opportunity for economies of scale?
What value are our customers willing to pay for? What are they paying now? How do they currently pay and how would they prefer to pay? How much does each possible revenue stream contribute to overall revenue? How might we price this product or service e.g. subscription, fixed or variable pricing, pay in advance, paypal?
What is the difference between a ‘direct’ and ‘indirect’ competitor? Who are your businesses main direct competitors? Who are the main indirect competitors, and why? Which other business are ‘analogues’ e.g. offering service in a similar way but to different customers, or trying to reach the same target customers with a different product or service.
What have you learned from a competitor(s) or analogue (s) that has informed your business idea? How is your product or service different or better than your competitors, how will it stand out from the crowd?
What are the biggest risks or obstacles in delivering your project and how might you reduce or overcome them? What type of funding might you need for your venture and where might you source this?
