Considering the fact that we will have to create a Business Model Canvas for our actual product idea, the best way to familiarize ourselves with how to do it correctly was to do a trial run. That is exactly what we have done today in class. For preparation we have created a BMC for the company Coca-Cola.
We started off by gathering into our group and discussing who the Customer Segments are. We all agreed that what best describes the customer focus of Coca-Cola was 'everyone' as it is a product with such a wide spread and in the modern world almost everyone drinks it and is aware of it.
Following this we talked about the Value Propositions or what the product had to offer to its customers. After thinking it over everyone in our group were happy with the main points being that it gives you energy, it's cheap, tastes good and quenches thirst.
The easiest so far to come up with was the Channels by which Coke is distributed. Since it can be found everywhere from supermarkets to bars and everywhere in between like corner stores, vending machines, cinemas, special events and so many more. Likewise our team found it easy to think of points for the next section: Customer Relationships. To connect with its customers and promote the drink, Coca-Cola does a wide variety of things like raffles and competitions as well as sells the product on very affordable prices and offers many sponsorships.
After having conversed about the Key Partners of Coca-Cola we all agreed that the main ones include bottle manufactures, investors, resellers and the legal department. Following on from there we talked about the Key Activities and found them to be manufacturing, RND (Research and Development), selling and marketing.
The Key Resources we came up with included, but were not limited to, factories, ingredients, employees and supply chains. The next point to consider was the Cost Structure or what Coca-cola, as a company, must spend money on. This again was easy and we came up with numerous points: ingredients, supplies, maintenance, salaries, factories, marketing, sponsorships, legal department and many more.
Finally the last part of the Business Model Canvas - Revenue Streams - proved the most challenging for us. Even though our group took the longest on this point, we still managed to come up with only one way that Coca-cola could make money of Coke and it was selling the product itself. That concluded our BMC attempt for Coca-Cola. Below is a picture outlining what we did in class.
We started off by gathering into our group and discussing who the Customer Segments are. We all agreed that what best describes the customer focus of Coca-Cola was 'everyone' as it is a product with such a wide spread and in the modern world almost everyone drinks it and is aware of it.
Following this we talked about the Value Propositions or what the product had to offer to its customers. After thinking it over everyone in our group were happy with the main points being that it gives you energy, it's cheap, tastes good and quenches thirst.
The easiest so far to come up with was the Channels by which Coke is distributed. Since it can be found everywhere from supermarkets to bars and everywhere in between like corner stores, vending machines, cinemas, special events and so many more. Likewise our team found it easy to think of points for the next section: Customer Relationships. To connect with its customers and promote the drink, Coca-Cola does a wide variety of things like raffles and competitions as well as sells the product on very affordable prices and offers many sponsorships.
After having conversed about the Key Partners of Coca-Cola we all agreed that the main ones include bottle manufactures, investors, resellers and the legal department. Following on from there we talked about the Key Activities and found them to be manufacturing, RND (Research and Development), selling and marketing.
The Key Resources we came up with included, but were not limited to, factories, ingredients, employees and supply chains. The next point to consider was the Cost Structure or what Coca-cola, as a company, must spend money on. This again was easy and we came up with numerous points: ingredients, supplies, maintenance, salaries, factories, marketing, sponsorships, legal department and many more.
Finally the last part of the Business Model Canvas - Revenue Streams - proved the most challenging for us. Even though our group took the longest on this point, we still managed to come up with only one way that Coca-cola could make money of Coke and it was selling the product itself. That concluded our BMC attempt for Coca-Cola. Below is a picture outlining what we did in class.
Comments
Post a Comment