Skip to main content

Featured

A complete guide to developing a business model canvas (BMC) with example (Part 1)

  Are you an entrepreneur struggling to understand the business model that fits you?   This is the go-to tool for you. BMC is a tool developed by Alexandar Osterwalder and it will guide you to understand how to create, capture, and deliver value with your business to the consumer.   But first, you need to be clear on the value you create.   So before you jump into the BMC, it is important to understand your value proposition. It is getting complicated now? Not really, there is a tool for this too. The value proposition canvas (VPC).   Let's start.   What is   VPC?         Look at the chart, there are two sides to the VPC. Let’s look at the client profile. This side of the VPC discusses your consumer. It is broken down into 3 main parts: pains, gains, and customer jobs. Pains are the problems or unpleasant situations customer experience. Customer job is the solution you offer. Gains are the desired outcomes that are more than expecte...
Post a Comment
Read more

Environmentally concerned consumption, why is it important for businesses?

 Ethical consumerism: the trend that helps more than just your business - Lightspeed

Ethical purchase behaviour can be identified as the reflection of the moral assessment on the specific purchase decision, consumers could use individual consumption to bring social change.

 

Consumers along with pressure groups can influence companies in conducting business activities ethically. Unethical ways of doing business can be penalised in the marketplace, while ethical businesses could be rewarded. For example, people would sanction buying certain make-up products if they are tested on animals.  

 Morality Marketing - Creating Ethical Promotional Campaign

Hence firms need to understand consumers and the focus on ethical behaviour, is it product-based (consider product attributes like packaging) or organization-based (organization misconducts drizzle down to products). This understanding needs to be showcased in the firm’s overall marketing strategy. A company could utilize an “umbrella” marketing strategy for all brands or individual brand strategies for separate brands. The “umbrella” would allow financial benefits, however, the individual brand strategy would allow more potential for the firm at a time of disruption.

Comments

Post a Comment