Complete a Business Model Canvas for your Business Venture Idea that you submitted in theAssignment Sign-up Form due January 22. If you did not fill out the form, please contact the instructor immediately. This is an individual assignment. DO the following: · Remember that you business idea has to be unique, and related to your experience and interests. · Remember to fill out the business overview section of the report, regardless of how you submit your canvas · have a SPECIFIC target audience in mind – think of who your innovators are, those customer who can influence their peer groups into buying your product. · Ask yourself if you can be more specific – Include as many SPECIFIC examples – NAME your partners/vendors/suppliers where possible, NAME specific customer channels. · always cite your sources using APA or Chicago. · Use the resources from Strategyzer and the attached BMC template below to help you! Provide an overview of your business · Industry · Strategy · Business description · Target Market o What are their unique needs or preferences? o What do they look like? Value Propositions The products or services offered to meet customer needs, they may be quantitative or qualitative Key Activities Necessary to execute the value proposition such as develop efficient supply chain Key Resources Necessary to create value for customer, assets to a company (human, financial, physical, intellectual) Key Partners Partners, Suppliers, Joint ventures, Strategic alliances Customer Relationships The type of relationship the company wants to create with its customers Channels Brick and mortar? Click and mortar? E-Commerce? Distributors? Combination? Customer Segments Which customers will the company serve? Mass market? Niche? Segmented, Diversified, or Multi-sided? Cost Structure Cost-driven/value-driven? Fixed costs, variable costs, economies of scale, economies of scope Revenue Streams How to make income from the various customer segments. Asset sale? Usage fee? Subscription, Leasing/renting? Licensing? Advertising?
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