Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Problems Solution Unique Value Proposition Unfair Advantage Customer Segments Key Metric Channels Cost Structure Revenue Streams FillouttheLeanCanvasBusinessplanforYOUROWNbusinessideawith3points/sentencesineachofthe9boxes. Problem Analysis - Whatare the 3 problems you

Problems

Solution

Unique Value Proposition

Unfair Advantage

Customer Segments

Key Metric

Channels

Cost Structure

Revenue Streams

FillouttheLeanCanvasBusinessplanforYOUROWNbusinessideawith3points/sentencesineachofthe9boxes.

Problem Analysis -Whatare the 3 problems you are trying to solve via your products orservices?Essentially, whydoesyourcompany exist?

Customersegments-Whoareyourcustomers?(Targetedmarket, includingsizeanddemographics of thegroups)

Uniquevalueproposition-Whatmakesyourproduct/serviceunique?Yourphilosophyand/orpurpose.Thisguides youractions,spells outyouroverallgoal,andguidesdecision-making.

Maximum4-5sentenceson1page.

Solution-Describeyourproduct/serviceindetail,focusingonthecustomerbenefits.Answerthe "why should I spend my hard-earned dollars on what you are selling?" question that allconsumersareasking.What customerneedsdoyouplantosatisfy?Shouldbedirectlyconnectedto each Problem you stated previously. How are the "problems" your opportunity? *Extra pointsifyoucanarticulatehowyour businessalsosolvesasocialor environmentalproblem.

Unfair advantage -This is similar to your competitive advantage (i.e. - experience of yourgroupmembers,costeffectivebusinessmodel -limitedoverhead,trendyconcept,howyouwillprotectyouridea,i.e.through patents, copyrights)etc.?.

Revenuestreams-Howwillyoucreateasustainablerevenuestream?How willyoupriceyourproducts/services?

Cost structure- What are your expenses (fixed costs and variable costs)? How much will youtakeforincome(basedonthelegalformofyourbusiness-corporation,soleproprietorship,etc.)Answer: how many units (of product or service) will you need to sell in order to break even inone month? *Insert financial statement(s): Income Statement and Break-Even Analysis inappendices.

Keymetrics-Whatareyourmaingoals andobjectives?How willyouknow whenyouhavemetthem?

Channels-Whatisyour"pathwaytocustomers"?

Provide details about pricing, promotions and distribution; consider the "7 Ps" of marketing(Product, Price, Place, Package, Position, Promotion and People); Explain how you will attracttarget customers and penetrate the market (including types of sales promotions and advertising);Show your industry knowledge, andpresent conclusions based on market research. Add detailedfindings of market research, as well as any marketing pieces you develop (i.e. logos, brandstandards, flyers, social media, etc.) in appendix; Overview of operations and logistics (detailsaboutyour retaillocation, distributionchannels, sales strategies, etc.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics

Authors: Robert S. Witte, John S. Witte

11th Edition

1119254515, 978-1119254515

Students also viewed these General Management questions