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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...
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How supermarkets change buyer behaviour (03 tactics explained)

 How many of you go to the grocery supermarket with a grocery list and end up buying many things that are not on the list?

You are not alone, that is how grocery supermarkets change you! Your buying behaviour!

1. Promotions

Ever wondered about that promotion the supermarket offered you, “was £3.99, now £1.99”. They target you, you did not want that loaf of bread, yet you buy it. Half of it might end up in the bin, yet you buy it. Promotions in store change your buying behaviour and stimulate you to buy more.

How about brands then? Are we loyal to one brand? Not anymore, discounts make customers move away from loyalty. No customer is loyal to a brand throughout any more.

QWERTY Mum: Morrisons Bakery

2. Smell of baked goods

Many grocery supermarkets have a bakery or hot kitchen inside the store. The smell of freshly cooked/baked food makes you hungry and stimulates you to buy more.

Also when you go to the perfumes aisle, could you smell the nice smell of tropical beaches, that is the perfume brands using fragrances inside the store to stimulate you. The customer gets stimulated by the fragrance and ends up buying what is not on the list.


3. Layout of the supermarket

Have you ever wondered why the supermarket arranges the products the way they do? Well, they observe customers and understand how you spend time in different areas. In areas the customer spends more time, they lay traps. Like promotions and more promotions.

 

 

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