Start Up a Small Business

Week 2

A business I could create deals with retail. It specializes in different product groups and has both physical stores and online one. The value offered by this business to its customers will be in its high attention to customers and they needs, as well as customer care in everything. For example, the business would offer special services to help in selecting products, as well as special warranties and other services. I think the value offered to customers would be enough to succeed. There are many retail firms in our days. However, most of them do not offer such services and benefits to customers. There are many complaints about unsatisfactory level of customers services. Thus, it would positive influence competitive position of the new business.

The value proposition, which Rosenblatt offered with iMall was in the benefits of this platform in relation to its competitors. This platform offered special propositions for small merchants, and they were not offered by competitive firms in 1990s (Allen, p.491). This value proposition contributed to high sales price of iMall. If compared to the state of e-Commerce today, this value proposition would not work. Nowadays, e-Commerce is more developed, and many companies offer such benefits to their customers.

Reference

Allen. K. R. (2011). Launching new ventures: an entrepreneurial approach. Cengage Learning