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    Business Model Canvas

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    Business Model Canvas

    Introduction

    1 Why are business models important?

    1.1 Developing your Business Model Canvas

    2 Business Model Canvas elements

    2.1 Refining your value proposition

    3 Using the Business Model Canvas

    3.1 Applying the Canvas to your own strategy

    Summary

    Self-assessment questions (SAQs)

    End of Module Quiz

    References and acknowledgements

    Return to the DIY Learn home page

    Business Model Canvas quiz

    Business Model Canvas

    Business Model Canvas Introduction

    This module will support your understanding and use of the Business Model Canvas Tool from the DIY Toolkit. You should look at the Business Model Canvas template

    [

    Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)

    ]

    before working through the module. You will find it helpful to have a printout of the template with you while you work through this module.

    The Business Model Canvas is useful for people looking to create a model or adapt the structure of their organisation or development idea. It is a graphical, one-page framework that allows you to design, describe and/or challenge your business model.

    The Canvas is one of the more complex tools in the DIY Toolkit, so ideally you would complete it over several days. To get the most value from the strategic nature of the inputs and outputs, you may want to consult with many other people, both within and outside your organisation. When you come to use the Canvas, you’re likely to make several revisions until you are happy with it.

    This module explores the nine essential components of the Business Model Canvas. You will learn how to frame and answer key questions about the Canvas and its execution.

    Learning outcomes

    After studying this module, you should be able to:

    understand why business models are important (SAQ 1)

    explain how the Business Model Canvas would be useful to apply to your own development ideas (SAQ 2)

    describe the nine elements of the Business Model Canvas (SAQ 3)

    explain why a good value proposition is central to a successful Business Model Canvas (SAQ 4).

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    1 Why are business models important?

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    About this course

    2 hours study 0 Level 0: Beginner Course description

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    स्रोत : www.open.edu

    Business Model Canvas MKTG

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    Other Business Model Canvas MKTG

    Deleted User 624 plays

    12 Qs

    Show Answers See Preview 1. Multiple-choice 2 minutes 5 pts Q.

    Mass market, niche market, segmented, diversified and multi-sided markets are all examples of:

    answer choices Customer segments Value proposition Key resources Business model 2. Multiple-choice 2 minutes 5 pts Q.

    The medium through which an organization provides its value proposition to its customer segment is known as:

    answer choices

    Customer relationships

    Channel Customer segments Key resources 3. Multiple-choice 2 minutes 5 pts Q.

    The unique value the product provides over its competitors and why a customer should pick one product over another, is called:

    answer choices Revenue Customer service Value proposition Business model 4. Multiple-choice 2 minutes 5 pts Q.

    Shoes of Prey is a company that allows customers to design their own shoes, from style, to materials and colors. This is an example of:

    answer choices

    Dedicated personal assistance customer relationships.

    Co creation customer relationships.

    Automated service customer relationships.

    All the previous answers.

    5. Multiple-choice 2 minutes 5 pts Q.

    These are all types of revenue streams, EXCEPT:

    answer choices Asset sale Value Usage fee Renting 6. Multiple-choice 2 minutes 5 pts Q.

    This image:

    answer choices

    Refers to the customer relationships and distribution channels.

    Refers to the distribution channels and revenue streams.

    Refers to the customer relationships and revenue streams.

    Refers to none of the previous options.

    7. Multiple-choice 2 minutes 5 pts Q.

    The network of suppliers and partners who complement each other in helping the company create its value proposition are called:

    answer choices Customer segments Key resources Key partners None of the options 8. Multiple-choice 2 minutes 5 pts Q.

    The business model canvas allows for easy, visual representation for decision makers.

    answer choices True False 9. Multiple-choice 2 minutes 5 pts Q.

    In this kind of customer relationship, the company tries to provide all the tools a customer needs, so that they can service themselves, without human assistance.

    answer choices Co creation Self-service Community Personal 10. Multiple-choice 2 minutes 5 pts Q.

    Cable TV companies charge a fee to its users based on the time for which they will pay in advance. This is an example of:

    answer choices Subscription fee Licensing Advertising Mass market 11. Multiple-choice 2 minutes 5 pts Q.

    Every asset that allows an enterprise to create and offer a value proposition, reach markets, maintain relationships with customer segments and earn revenues is called:

    answer choices Key activities Key resources Key partners Key friends 12. Multiple-choice 2 minutes 5 pts Q.

    These are the categories in which we can classify key partners:

    answer choices

    Strategic alliances, coopetition, joint-ventures and buyer-supplier relationships.

    Strategic alliances, coopetition, joint-ventures and human resources.

    Strategic alliances, coopetition, optimization and buyer-supplier relationships.

    None of the previous options.

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    Business Model Canvas: A Complete Guide

    What is a business model canvas? Let's look at the traditional approach to a business model, its 9 building blocks, why we use it, and an example.

    Business Model Canvas: A Complete Guide

    by Martin Luenendonk

    Last updated on September 16, 2020

    Add to favorites

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    Home Magazine Business Model Canvas: A Complete Guide

    A business model describes how a company creates, delivers and captures value. Everyone has their unique way of viewing the business model. During discussions about this, there has been an increasing need for an uniform template to define and discuss the business model. This template should be applicable to new and old businesses alike, across industries.

    © Flickr | marcfonteijn

    In this article we will look at 1) what is a business model canvas?, 2) the traditional approach to a business model, 3) the 9 building blocks, 4) why to use the business model canvas, and 5) applying the business model canvas.

    WHAT IS A BUSINESS MODEL CANVAS?

    The Business Model Canvas, developed by Alexander Osterwalder, is a visual representation of current or new business models, generally used by strategic managers. The Canvas provides a holistic view of the business as a whole and is especially useful in running a comparative analysis on the impact of an increase in investment may have on any of the contributing factors.

    The Business Model Canvas gives people a common language through which they can evaluate traditional processes and bring innovation into their business models.

    THE TRADITIONAL APPROACH TO A BUSINESS MODEL

    Most startups fail because entrepreneurs put all their faith in the idea of the product the organization exists to create. In their loyalty to this product or service, they fail to give in depth consideration to the business model their organization will follow. Usually the business model is either a one-size-fits-all model, common in the industry or it is a random amalgamation of systems and processes, created at the spur of the moment to further the main goal; sell the product or service.

    Successful new ventures do not go to market with their first idea; instead, the product/ service has usually gone through several iterations before arriving at the final version. Similarly, organizations are more sustainable if they have considered several business models before deciding on a particular one.

    THE 9 BUILDING BLOCKS

    The Business Model Canvas categorizes the processes and internal activities of a business into 9 separate categories, each representing a building block in the creation of the product or service. These categories represent the four major aspects of a business; customers, offer, infrastructure, as well as financial viability. All 9 categories are listed and explained below.

    1. Customer Segments

    The total customer pie is divided into segments based on the manner in which an organization’s products or services address a specific need for the segment. The customer segment is an essential part of an organization’s business model and is key to ensuring that the product features are aligned with the segments characteristics and needs.

    To carry out an effective customer segmentation, a company must first know its customers, both through their current and future needs. Then the organization must list its customers in terms of priority, including a list of potential future customers. Finally, the company should do a thorough assessment of its customers by understanding their strengths and weaknesses and exploring other kinds of customers who may benefit the company more if they are to focus on them.

    Various customer segments are as below;

    Mass Market: An organization opting for this type of customer segment gives itself a wide pool of potential customers because it feels that its product is a relevant need amongst the general population. A potential product for such an organization could be Flour.Niche Market: This customer segment is based on highly specific needs and unique traits of its clients. An example of an organization with a niche customer segment is Louis VittonSegmented: Organizations adopting the segmented approach create further segmentation in their main customer segment based on slight variations in the customer’s demographics and resultantly, their needs.Diversify: An organization with a Diversified Market Segment is flexible in the iterations of its product or service tweaking it to suit the needs of segments with dissimilar needs or traits.Multi-Sided Platform/ Market: This kind of segment serves customers who have a relationship to each other, i.e. blogging sites need a large group of active bloggers to attract advertisers. And they need advertisers to create cash flow. Hence, only by creating a pull with both segments will the blogging site be able to have a successful business model

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