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Business Model Canvas
Transcript of Business Model Canvas
"The Perfect Date"
-Owners of date venues
People want to go on dates but just dont know how, whether first date, anniversary, out of the blue romantic, and even proposals.
Our value is that moment, memory, and experience that is created.
Never have the problem of not knowing what to do or where to go.
Our service is a bundle. For the date goers, we connect all the aspects that happens on a date.
This is designed for people who want to create enjoyable and memorable for their date.
Dating Segment- Automated Services & Dedicated Personal Assistance
Venue Segment- Personal Assistance- 80% of purchase cycles involve WOM.
How are they integrated with the rest of the business model?
Partnerships, activities, resources > relationships> value and revenues.
Main costs: Data aggregation, human resource department, website upkeep
The website. phone apps, and telephone are communicative. Everything other than the in person/telephone has an automated date ,which is sent as an email to our employees. If they then choose to set up a telephone or in-person consultation, any changes made will be input by the consultant.
The website, databases, and apps only require a small IT team for creation and management. The in-person and telephone meetings require representatives, but will be charged to the clients at cost. Radio and other such advertisements will be the most costly, but can be scaled down once we get significant traction and once we get customers to understand the organization's value proposition.
Purchases will be placed mostly through the website or apps. Additionally, adjustments can be made on the phone or in person. We will offer specials to loyal customers and send e-mails to those on our mailing list detailing offers.
For whom are we creating value?
Segmented/Multi-sided platform- We distinguish our customers based on demographic information and we serve mutually dependent customers.
1) Daters/ Couples- convenient, efficient and perfect date.
2) Dating venues/ businesses- referrals
Who are our most important customers?
The value of knowing that their date will go smooth, will be organized, and that they will be able to enjoy themselves how they imagined their date will be without any worries of anything going wrong.
What our customers are paying for is a service in which we make it convenient for them to go out and enjoy themselves with a special person. Currently we are establishing a payment method for our customers which will be user friendly and without complications to anyone involved.
Just like eBay and any other major online service, we are sure that our customers prefer to pay through online credit card payment services.
We would base our revenues by : consultations, referral fees, and service fees.
We are crediting value to all of our customers, but particularly the repeat customers, because we do see them as our most important since they also help us with our reputation and overall marketing.
We are a Multi-sided Platform.
-High end retail stores (Louis V, Chanel, Gucci)
Key resources acquired from partners:
-Increased target base
Key activities performed by partners:
-Creation of business relationships
Motivations for partnerships
-Optimization of activities
Most expensive activities:
-Creating an image of refinement, acquiring momentum, and gaining a reputation
-Giving customers accessibility to us and our website whenever they need it
-Mining data and establishing powerful networks
Most expensive resources:
-Owners of locations where people want to have their date
-Staff that can efficiently seek out new locations and activities to offer to customers
-Relations with government
Value driven vs. Cost Driven:
We want to be a value driven company. We are more concerned with providing value to our customers than providing a service at the lowest cost. When people think of us, we want them to know that we are the most prestigous, legitimate, romantic channel through which to plan their date. Although we will practice some cost saving techniques, we will not be primarily using a cost leadership or price leadership strategy.
-Limo rentals, dinner meals, cruise voyages, etc.
-Goods to be used in date
-Rent of building
-Building utilities (water, light, etc)
-Website and domain expense
-Phone line subscription
Relationship with partners
Establishing a premium reputation
Creating and maintaining accessibility
Creating relationships with suppliers, partners, and government
Relieving stress on consumer's part of date planning
Diversifying date options
Target market statistics
Joint study by cosmopolitan and Askmen
40% said partners are NEVER romantic
25% said partner does not make an effort to be romantic very often; 28% somewhat often
45% of women somewhat unsatisfied with love life