class project

BUS 400 Module Four Assignment Guidelines and Rubric

Overview

The elevator pitch was a success! Senior management believes they made the right choice in giving you the title of CIO and putting you in charge of seizing new opportunities in the marketplace.

Scenario

While the pitch conveyed your good idea, it was just that: an idea. You now have to test the feasibility of your idea. However, before you create a complete business model canvas (BMC), you want to quickly identify key elements needed to take your product or service idea to market.

In doing so, you will assume that all components of the BMC are at the fingertips of your project team. For example, you will have to work with the marketing and sales departments, and perhaps outside vendors and suppliers, to promote, advertise, and sell the product or service.

The Business Model Canvas Template you complete in this assignment will serve as the groundwork for the more detailed PowerPoint slide deck you will create in Milestone Two. As with any well-executed project, a former project manager experienced in such product-to-market initiatives has agreed to assess your complete BMC slide deck, which you will submit in Module Five.

Prompt

For this assignment, consider the company you have selected and the work you have completed so far to further your business idea. Then, complete the Business Model Canvas Template linked in the Guidelines for Submission section with your assumptions about the key activities for your business idea, product, or service. Specifically, you must address the following rubric criteria:

· Value proposition: Complete the Value Proposition building block by describing the value of your business idea, such as the customer need you are satisfying or the problem you are solving.

· Front-stage considerations: Outline the segments related to your potential customers, which include the Customer Segments, Channels, and Customer Relationship building blocks.

· Back-stage considerations: Make initial assumptions about how your business will work. This includes completing the Key Activities, Key Resources, and Key Partnership building blocks.

· Financial considerations: Make reasonable assumptions about the segments that will inform your profit projections. These include the Cost Structure and Revenue Stream building blocks.

4

The Smart Home Concierge Services Elevator Pitch

Michael Rickman

BUS-400

Sean Clark

3/21/2024

The Smart Home Concierge Services Elevator Pitch

Introduction

Think of a place where every aspect of your household’s daily chores has technology built into it to make your life not only convenient but efficient and secure as well. The Lowe’s Smart Home Concierge Services concept is the key to a prosperous century of smart living. Our support team provides personalized consultations, expert device integration, and continuous support to provide you with smart home systems that suit your lifestyle and preferences perfectly. In the days where convenience, effectiveness, and security are the watchwords, our service offers personalized consultations, expert device operation, and continuous support to create unique smart homes. With Lowe’s Smart Home Concierge Services, homeowners can traverse a path towards a wiser, more developed life that breaks the borders between technology and day-to-day life, resulting in a seamless atmosphere that charges well-being and high performance. Come with us as we transform the way you live and relate to your home. How it fits

The Smart Home Concierge Services provided by Lowe’s complement the company’s strategic plan for industry leadership in the smart home segment and enhance customers’ lifestyles. As a company delivering innovative solutions for home improvement, we are further expanding our offerings into the fast-growing market of smart home technologies (Lowe’s, n.d.). By combining our strong background in retail and our customer service with solid operational execution, we will succeed even more in this environment. As a part of the company’s strategic focus on operational excellence, we can increase profits and optimize service delivery systems, and this strong operational foundation will ensure the successful implementation of Smart Home Concierge Services. Utilizing our existing infrastructure and retail expertise, we are ready to address the wide-ranging needs of our customers and provide them with professional advice as well as sound device integration to create hassle-free home networks for everyone. Justification

The financial benefits of Lowe’s Smart Home Concierge Services are huge. We can achieve this by providing consultation, installation, and a variety of other services that will create regular revenue streams that do not only depend on our traditional store operations. Following this rise in demand for smart-home networks, our revenue stream is expected to go up significantly. For instance, the proceeds made from sales of smart home products and supplies will also add to our profitability. Repeat orders and brand loyalty will lead to a stable flow of revenue, while diversification within the market will bring in new customers, keeping growth at its highest.             Through market research, market trend analysis, and ROI performance evaluation with the Smart Home Concierge project, we are confident we can achieve a favorable investment return. For instance, as of March 19, 2024, One Lowe’s share sold for 246.56 dollars, which was a 1.25 percent increase (Yahoo Finance, n.d.). However, individual ROI figures might differ based on the input costs and level of market penetration. Furthermore, we expect to have a very convincing ROI that is appealing to investors and top managers. We expect that our return on investors’ investments will be higher than the industry’s benchmark returns, thus returning investors and demonstrating the viability and possibility of the project’s long-term success. Enhancing the mission             Lowe’s Smart Home Concierge Services contributes positively to our overall mission by building upon our core values and strategic goals. With a focus on the manufacture of cutting-edge products, our company is committed to improving people’s lives by providing home improvement solutions that will be beneficial to each household. Through the Smart Home Concierge Services, we make our purpose a reality, which is to deliver to our customers the latest in-home technology innovations that bring about convenience, efficiency, and safety (MarketLine, 2019). By offering personalized consultations, professional installations, cutting-edge solutions, and ongoing system support, we are equipping customers to set up smart home systems on their own terms, matching their unique requirements and preferences. Additionally, by being considered the pioneers of smart home matters, we are able to improve our brand image and stand out positively from the crowd. These factors attract new customers and, at the same time, make the brand more popular among its loyal customers.

References

LOWE’S (n.d.). OUR STRATEGY. LOWE’s. https://corporate.lowes.com/who-we-are/our-strategy#:~:text=We’re%20guided%20by%20our,channel%20and%20community%20we%20serve

MarketLine (2019, October 1). Lowe’s Companies Inc – Strategy, SWOT and Corporate Finance Report. https://store.marketline.com/report/lowes-companies-inc-strategy-swot-and-corporate-finance-report-3

Yahoo Finance (n.d.). Lowe’s Companies, Inc. (LOW). https://finance.yahoo.com/calendar