Business Model Generation: Intro to Business Model Canvas Flashcards
Customer segments
Groups of people that the company is willing to reach out to and distribute it’s products/services to. There are many different types such as mass market, segmented diversified etc.
Value proposition
A bundle of products and services that customer segments find value in and are willing to pay for. These include new products, improvements in performance, risk reducers, reduced cost etc.
Channels
How a company communicates info and delivers products to it’s customers such as through website and home delivery or through sales force and through the store. This is a 5 phase process:
- Awareness
- Evaluation
- Purchase
- Delivery
- After sales
Customer relationships
How the company interacts and builds connections with it’s customers such as through personal service (sales people), dedicated service(sales rep. interacting with customer over long periods of time) etc.
Revenue Streams
Ways in which companies can make money and these include one time money transactions, and continous money payments. Companies should ask what revenues make them the most money and what value customers are willing to pay.
Key resources
The resources a company needs to be succesful. These include human, financial, intellectual etc.
Key activities
These are the types of work a company must do in order to thrive such as problem solving, networking and production.
Key relationships
These are the partner firms and suppliers a company must team up with to make sure a buisness thrives. These include stragetic alliances, cooperate alliances, and buyer supplier alliances.
Price mechanisms
these are the different ways a company determines the price for a product
- Static-product cond.
- Dynamic-market cond
Cost struc.
The total expenses a company needs to pay for and there are two types which include low cost and low value.
