Unit 14 - Final Paper/ Presentations

Customer segments

The customers for the technology company include high class men and women. The company products are of high quality and therefore targets financially stable individuals. The interest of this segment of customers is to get high quality products regardless of their prices. The company therefore will provide high quality products to cater for the needs of these customers (Joyce & Paquin, 2016).

Value Proposition

The company is highly innovative to ensure that it provides customers with new products in the market. The products are also customized to meet the needs of their customers. This enables customers to become loyal to the company as the products meet their need. The performance of the products is also good attracting more customers.

Channels

The company sells its products directly to the consumer and also through retailers. The customers enjoy lowered prices for products purchased at the company’s shops (Toro-Jarrín et al., 2016). Products are also distributed to retailers who then sell at a profit to the customers. This helps the company to reach out at customers easily as they are located at different geographical locations

Customer relationships

The company advertises its product through various social media platforms and also through its website. These platforms present the company’s innovative products and how the meet the needs of the prospective customers. The company has excellent customer services and provides quality products to keep customers. The company sends out newsletters about the new products to inform customers of the products that have entered the market. The ability of the company to come up with new products helps it to retain customers.

Revenue Stream

The company makes revenue through subscription fees. The company makes a lot of revenue from monthly customer subscriptions. The company also makes money through licensing. This involves selling its brand or name as a product. Various organizations are using the company’s brand name and therefore contributing significantly to the revenue of the company (Plenter et al., 2017).

Key Resources

The company’s physical resources include machines, vehicles, building and channels of distribution. Intellectual resources include customer databases, partnerships, patents and copyrights as well as specialist knowledge and brands. Talented and experienced employees are also key resources for the company. Financial resources for the company include cash balance and lines of credit.

Key Activities

The company produces products of high quality to meet the needs of customers. Consultancies are used to help solve arising problems in the organization. This also helps the organization to harvest new innovative ideas (Dudin et al., 2015). Various networks or online platforms such as Instagram and Facebook are used to market the company’s products.

Key Partners

Suppliers and distributors are the key partners who help the company to reach as many customers as possible. Suppliers help the company reduce risks as the all products that have been manufactured are channeled to them. The company also has a partnership with advertising company’s who help it to market its products through various social media platforms. This allows the company to create awareness of their products and their quality (Ojasalo & Ojasalo, 2018).

Cost structures

The company is value driven as it focuses on providing quality products to its customers. The most important costs for the company are associated with production, consultation and marketing. Significant costs are used to ensure that the products are innovative to meet the needs of the company’s customers. A lot of costs are used in marketing to create awreness of the products.

References

Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design more sustainable business models. Journal of Cleaner Production, 135, 1474-1486.

Toro-Jarrín, M. A., Ponce-Jaramillo, I. E., & Güemes-Castorena, D. (2016). Methodology for the of building process integration of Business Model Canvas and Technological Roadmap. Technological Forecasting and Social Change, 110, 213-225.

Plenter, F., Fielt, E., Hoffen, M., Chasin, F., & Rosemann, M. (2017). Repainting the business model canvas for peer-to-peer sharing and collaborative consumption.

Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S., & Namitulina, A. (2015). The innovative business model canvas in the system of effective budgeting. Asian Social Science, 11(7), 290-296.

Ojasalo, J., & Ojasalo, K. (2018). Service logic business model canvas. Journal of Research in Marketing and Entrepreneurship, 20(1), 70-98.