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Business Model Task
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Assignment sheet:
New students:
Due date:
Work complete:
end of Week 10
There will be mini due-dates along the way
Feedback for Josh
Week 6 learning
Problem identification
As you will be moving forward with your own problem in this assignment, it is important that you identify an area that you are interested in, and that you have some foundational knowledge of, in order to succeed.
Step.1
Step.2
Step.4
Step.3
If you can't decide
Week 7 learning
Customer segmentation
If you were away, please download the Word Document and choose one of the ways to segment customers into groups from the list provided.
You are then to spend:
- 20 minutes conducting more research into the segment that you have chosen
- 20 minutes designing a poster that you will then submit to Josh
Choosing a problem and a solution to move forward with...
You should by this point have a range of problems that you have workshopped, and also a range of potential solutions to this problem.
You now need to make a decision, using a 2x2 matrix as to which problem and solution you will choose.
Completing a competitor analysis
You should by this point have a range of problems that you have workshopped, and also a range of potential solutions to this problem.
You need to present your best two problems + the solutions you are considering back to the class for feedback.
Using the feedback + your own instincts, decide which problem and which solution you want to take into the next round.
Week 8 learning
Competitor analysis support
Given that the struggle has been real when it comes to completing this analysis, please find below the following support:
Image 1: competitor analysis basic outline
Image 2: completed competitor analysis (at a B level) you can use as a guide
Videos 1-5: each video breaks down one component of the competitor analysis
Image 1: Competitor analysis guide
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Image 2: Completed competitor analysis
Video 1: Key customers + market share
Video 2: Pricing Strategy
Video 3: Key selling point + features
Video 4: Channels
Video 5: Strengths and Weaknesses
Week 9 learning
Due date adjustment + final CANVA layout instructions
Due to the recently announced public holiday, the final due date for this assignment has been extended.
The new due date is: Weds 28th of September, midnight, Week 10. Late submissions will not be accepted without extensions being granted prior to the due date.
Please find below, as discussed in-class the final layout for your CANVA presentations.
There will be 9 slides in this presentation.
Market strategy
We discussed market strategy in some depth in class. If you missed this learning, please download the Powerpoint below, and read the article linked.
Use these documents to help you select and justify the strategy that works for your business.
Marketing strategy PowerPoint:
Marketing strategy article:
https://www.bdc.ca/en/articles-tools/marketing-sales-export/marketing/pricing-5-common-strategies
Estimating costs
For the purpose of this assignment, you are being asked to brainstorm some costs you would incur. You should use the image to the right to start thinking about the broad categories, and on paper start listing items that will fit into those categories.
Your grade will depend on the depth of thinking you go into, and whether you were able to estimate costs accurately. In circumstances where you could not find estimates for costs, it is okay to make an educated guess and just write "high, moderate, or low" for your costing.
*We will do the licencing and tax categories in-class on Friday.
Costs into a table
Example.
Week 10 learning
Licensing & taxes
To get an estimate of some of the permits and licenses you will need for your business, please follow the link below.
https://business.gov.au/registrations
There are two push-buttons that are particularly relevant:
1. Register for taxes
2. Register for licenses and permits
In each of these spaces there are readings and quizzes you can do to work out what kinds of licenses and taxes would be applicable for your business.
All you need to do for your presentation is put together a list of each. This list can go into the "costs" section of your presentation. You will be assessed on how thorough and relevant your choices are.
Revenue model
To get a sense of what revenue models are, and how they work, move through the activities in the link below.
For your own work, you will need to select a revenue model that is appropriate for your business model - this activity will familiarise you with different revenue models.
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