02 Jan The purpose of Topic 5 and Topic 6 is to create a business model canvas, highlighting how human-centered design and technological advances can be used to s
The purpose of Topic 5 and Topic 6 is to create a business model canvas, highlighting how human-centered design and technological advances can be used to solve real-world business problems. In Topic 6, you will develop the operational elements of the business model canvas. These include key partnerships, key activities, key resources, and cost structure.
Utilize the "Business Model Canvas – Intro and Template" PowerPoint resource to complete the topic assignment.
This assignment will expand upon the hypothesis you previously selected to create an improved hypothesis. Alternatively, feel free to pivot to an alternative problem. Based on your hypothesis and developed persona, you will develop a summary of your business model canvas for submission and feedback. Be sure to complete the remaining four of the nine boxes in the in the business model canvas listed above.
Then, create a 500-750-word summary of the four elements of the business model canvas discussed above.
- For each of these, identify the key elements and describe why that element is crucial to the success of the business.
- Be sure to identify how you will manage each of these key elements to ensure business success.
- Discuss what metrics you can use to measure your success in managing each of these elements.
There are two deliverables for this task:
- The updated and final business model canvas with the four boxes completed in the PowerPoint template.
- The written summary of the four additional boxes in the business model canvas in a Word document.
Submit your written summary and the business model canvas.
This assignment requires a minimum of three to four reliable scholarly or industry resources.
Prepare this assignment using effective business writing style. Refer to the resource, "Effective Business Writing," located in the Class Resources, for specific guidelines and formatting requirements.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to LopesWrite. A link to the LopesWrite technical support articles is located in Class Resources if you need assistance.
AttachmentsENT-436-RS-T5T6-BMC-Template.pptx
Target Market Worksheet
Part 1: Description of Target Market
Write a 250-500-word description of your target customer (i.e., your customer persona). Describe the key demographics of your target market, including customer description, location, behaviors, psychological profile, and other population attributes.
Part 2: Table
Consider how you would expand into other markets. These may include other demographic groups, other regions, other countries, etc. Then, select a second and third target market to focus on. Customers in alternative markets will likely have similar attributes to the initial target market with some major differences. Complete the table below comparing similarities and differences between the primary, secondary, and tertiary target markets.
Customer Name:
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Segmentation Basis |
Segmentation Attributes |
Primary Target Market – Persona Description |
Secondary Target Market |
Tertiary Target Market |
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Demographic |
Age |
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Gender |
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Education |
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Income |
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Family Status |
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Other Demographic Attributes |
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Geography |
Country |
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Region |
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Environment (Rural/Urban) |
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Other Geographic Attributes |
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Psychographic |
Social environment |
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Personality |
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Lifestyle |
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Lifestyle Changes |
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Other Psychographic Attributes |
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Behavioral |
Purchase Drivers |
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Purchasing Behavior |
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Other Behavioral Attributes |
Part 3: Graphic
Design and create a one-page graphic (advertisement, brochure, or flyer) about your product or service created in the Topic 3 assignment to appeal to customers. The goal is to generate customer awareness and interest in your product or service. You may paste it in this worksheet or attach it as a separate document.
Part 4: User Journey Map
This portion of the assignment is to document the process by which a customer engages with your business, purchases, and utilizes your product or service. You may refer to the topic Resources for more information about journey maps.
Create a journey map of how your customer interacts with your business to purchase and use your product or service. This should be submitted as a bulleted list of all steps in the purchase and use processes. Be sure to include the entire process (i.e., every step the customer takes from first considering purchase [location, product, etc.] until product is used or service delivery is completed).
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