MODULE 6: DIscovering your Model and Brand
Cards (29)
- It describes how you make money. This concept is inward facing, meaning that you look inside your company to see what drives your revenue. You consider operations, suppliers, and all the things that go into delivering a sound product.
- It is what your company means to your customers. Regardless of how you make your money, it is defined by the connections it makes in the minds of your customers. You take into account things like customer data, retention, and buying habits to determine what your brand stands for. You can declare what your brand means to your customers, but you can’t make them believe it. They tell you. On social media, this message is amplified a hundred-fold.
- It was developed by Clayton Christensen, who is well-known for his theories on corporate innovation and disruption. As his website explains, “Customers rarely make buying decisions around what the ‘average’ customer in their category may do — but they often buy things because they find themselves with a problem they would like to solve.
- FORMS OF ONLINE BUSINESS MODELS
- They are people who agree to sell a product (or service) online for a fee.
- The key to creating a successful affiliate business involves developing an audience interested in a particular topic and then finding and recommending products you think they will like. The less work that you put in on the effort, the less likely you will be able to sustain a business that relies on people trusting your recommendations. Affiliates can also promote one specific product and provide content that supports and enhances it.
- It has two characteristics: charge a monthly (or annual) fee and supply content that keeps your members interested. Customers pay a recurring fee for access to exclusive benefits, community, or additional perks that are not available to non-members. The model focuses on building a sense of belonging or exclusivity, where customers feel like part of a community. Membership might also include added value such as discounts, insider content, or events.
- A membership-based warehouse club where customers pay an annual membership fee to access wholesale goods, discounted items, and exclusive products. The model is built around providing exclusive shopping experiences to its members, along with events and promotions
- It allows people with similar skills to access a business framework to display and sell their goods or services. This framework allows people to avoid having to set up their own shopping carts and customer-service mechanisms.
- A global platform, has a large community of Filipino makers, artisans, and small business owners who sell handmade crafts, vintage items, and custom-made products to local and international buyers. Many Filipino sellers use this platform to market their handcrafted goods such as clothing, accessories, home décor, and art.
- It is a homegrown Filipino platform that connects freelancers directly with clients. It allows freelancers offering various services, such as graphic design, writing, web development, and marketing, to list their skills and find work opportunities from individuals or companies. It functions as a P2P service marketplace where both sides interact directly to negotiate terms and execute projects.
- Online retailers are the model you’re most likely familiar with. A vendor offers goods available online and ships them to a buyer. The vendor may also have a group of vendors who supply his goods, which he then ships.
- It is a leading online fashion retailer in the Philippines, offering a wide range of clothing, shoes, accessories, and beauty products. The platform operates as an online retail store where it manages the inventory, product listings, and delivery logistics. It also partners with various brands and designers, allowing them to showcase their collections on the site.
- It is a major e-commerce platform in the Philippines that operates under a B2C (Business-to-Consumer) model, where businesses and individual sellers can list products for sale. This provides an extensive range of products, from electronics and gadgets to fashion, home appliances, and groceries.
- In online version, it is becoming very popular because it allows time-starved customers to order something they want and get it delivered quickly without having to leave their house.
- It is an online food delivery service that allows users to order meals from various restaurants via the Grab app. Customers can browse restaurant menus, place orders, and have food delivered to their doorstep, all without leaving their homes.
- It is an on-demand delivery service that allows customers to book vehicles (motorcycles, vans, trucks) to deliver packages, documents, or even larger items quickly and efficiently. Through its app, this connects users with available drivers who can pick up and deliver their items within hours.
- It is not new, but the advent of the web has driven it to much greater heights. With this model, you join a site that offers ongoing access to something you want, and you typically pay a monthly or annual fee. One well-known example of this model is Netflix.
- It is used for online software products. Companies who use this model provide a free version of their software with the expectation that some customers will want to pay for a premium version. Some business owners are leery of this model because it involves a risk that doesn’t apply to a standard retail model. Instead of having customers pay as they go, you need to have the strong conviction that some customers will upgrade.
- NINE COMPONENTS OF BUSINESS MODEL CANVAS:
- List the clearly defined niches you serve.
- This term refers to what you provide to customers to solve their problems. What are the specific products and services you offer — the value you promise to exchange with your customers for their payment?
- List the communication (social platforms and so on), distribution, and sales channels you use to reach customers.
- Describe what you do to maintain an ongoing relationship with each ofthe customer segments you serve.
- List the ways you make money based on the products and services you offer.
- Identify the resources you must have to run the business.
- Name the actions you must perform to run the business.
- Includes the vendors and partners you need to run the business.
- Includes all the money you need to spend (expenditures) to run your business.