BU121 Study Guide - Midterm Guide: Plot Twist, Business Plot, Value Proposition
Document Summary
The purpose of a business model is to show how you will create, deliver and capture value. The areas that allow you to create value are: value proposition, customer relations, channel, customer segment. To help you deliver value: key partner, key activities, key resources. To capture the value: cost structure, revenue streams. If you make a new iphone, no one will buy it because it is no different than the iphone. Relation to csf: plot twist - create comparitive advantage, plausible motivations - meeting customer needs. A: to ensure we re designing products and services that customers want. Gains: what gains do your customer get from completing those jobs, the benefits your customers want to achieve, eg. Movie night; a date, a night out, an enjoyable time. Customer jobs: what are your customers trying to get done, emotional: want peace of mind, feeling of job security (employment insurance)
