Description
inital response and 2 responses
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Think about the information you will need to create your business
model using the nine segments of the business model canvas (BMC).
Also keep in mind that for your elevator pitch in Milestone One, you
will need to include at least a few of these segments.
Then, in your initial discussion post, address the following:
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Which of the segments do you think you can complete
immediately?
Which segments do you think might need more work?
Are there any factors or segments you had not considered so far?
Which ones? Explain.
In your response to two peers, address the following:
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Provide at least one specific idea or recommendation to help them
address the problem areas in their model.
Share any suggestions or tips that you found helpful when
researching or working on your business idea.
Response 1 – (MN)
Since the start of the course, I have gained a significant amount of knowledge
regarding Apple Inc. Due to the previous week’s blog post and project outline
assignment requiring deep research and careful analysis of the company, I believe that
I could immediately complete the value propositions, channels, and customer segments
of the Business Model Canvas without additional research. The most knowledgeable
segment would be Apple’s value propositions, as I have highlighted these areas in my
assignments over the last few weeks.
Value Propositions: High-quality products; Interconnectedness
Channels: App Store; Apple Stores
Customer Segments: Buyers of Products; Subscribers of Services
Although I have learned such a vast amount of information regarding Apple, Inc., two
segments of the Business Model Canvas would require additional research in order for
me to complete them. Due to my lack of sufficient knowledge, the cost structure and
key resources segments would be challenging for me to complete. The cost structure is
a segment that I did not consider. Additionally, my understanding of the company’s
key partnerships, revenue streams, and customer relationships is limited, I have read
about these areas in brief. I failed to consider This discussion board post has clearly
emphasized the need for me to perform additional research to accurately complete the
Business Model Canvas.
Regards,
Melissa Nguyen
Reference:
Ebinum, Oyem (2022, October 28). How to: Business model canvas explained.
Medium. https://medium.com/seed-digital/how-to-business-model-canvasexplained-ad3676b6fe4a
Response 2 – (PM)
A Business Model Canvas (BMC) has nine sections:
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Key Partners – who should we partner with?
Key Activities – What needs to be done and when? What is our
timeline?
Key Resources – What resources are needed from beginning to
end?
Value Propositions – What is the value of the product or service,
what problem does it solve for people?
Customer Relations – How are we going to interact with the
customers?
Channels – How are we going to get the message out? – How are
we going to market the product or service?
Customer Segments – Who are we targeting? – Whose problems
will be solved?
Cost Structure – What are the costs associated with each portion
of the business?
Revenue Streams – Where are the funds coming from?
The BMC helps put everything into one perspective, on one clean sheet
(Ebinum, 2022).
I think the segments I will be able to complete immediately would be
customer segments, key partners, and channels. I still need to work on
the key activities as I do not know the timeline for the construction,
getting all the key people involved, et cetera. I haven’t considered the
key resources and the cost structure fully. The resources will come
from everyone involved in the planning and implementing process from
the staff at the hotel to the last-minute touches on the cake, music,
floral arrangements, and other items. I haven’t broken down the cost at
this point, as it could be different in different market areas across the
United States and will take a little more time. California, for example,
would be much more expensive than say Missouri.
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