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ENTR 2301 Innovation and the entreprrensurship

Question

Answered

Business Model Backgrounder - total possible marks 

This is where you provide the detailed research and thought behind each area in the lean canvas.    Each section needs to be supported with research that is referenced in APA style below.  Point form is acceptable as long as you include enough explanation to make your points clear.  Insert your responses directly into this document following each question.

 

Business Model - Problem   

Describe the problem being solved.

 

Business Model - Offering  /4 marks    

Describe the offering/solution (be sure to clearly  identify the key features).  

 

Business Model - Customer   /8 marks   Create a detailed persona of the target buyer and target user.   Describe in detail. Include a copy in  this submission.  Make sure you include: How big is the group of buyers?  and is the target group growing?  By how much?  You must include specific numbers based on secondary research (e.g. census, Stats Can, etc.).  Cite your sources.

 

Business Model - Competitor Analysis -  

List the most important benefits (at least 3) potential customers seek when making a purchase decision for your type of product/service.  (3 marks)  

1.

 

2.

 

3.

 

Identify 3 competitors for the venture (think about how their customer currently solves the problem).  In the chart below, compare the venture’s solution with the competitors by describing what the venture does better.  Be sure to consider the benefits sought by customers when describing the venture’s competitive advantage.  (6 marks)

 

Competitor (brief description of competitors’ offering and their customer)

What the venture does better than its competitors? Remember to consider the benefits listed above. (competitive advantage)

 

1.

 

 

 

2.

 

 

3.

 

 

 

 

 

 

Business Model - Value Proposition 

Write a value proposition for the venture.  In one or two sentences describe why customers would use/purchase the offering rather than the competitors (this should be tied to the problem).   

 

Business Model Value Chain

What suppliers are needed for the venture? Be specific and indicate what they supply to the venture. If you can find specific suppliers add them otherwise indicate the supplies that will be required and the type of businesses that would supply them.  Also include information here on how the product is distributed?  For example, on-line, through retail outlets, etc.. Be specific and explain why this is a good idea and if there will need to be changes to grow.

ENTR 2301 Innovation and the entreprrensurship

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