MKT20031: Write Drunk, Edit Sober - The Business Model Canvas (BMC) - Marketing Assignment Help

Assignment Task :

Purpose
• This assignment asks you to build and improve on the innovation idea you have created in the first assignment, using tools and frameworks that lets you better refine
your idea into a more concrete form.
 

Overview
• You will use two frameworks, the Business Model Canvas (BMC) and the Gaps Theory to refine your innovation idea.
• You will need to elaborate your BMC, then answer questions on how those elements will address the potential pitfalls from the Gaps Theory.

Assignment Introduction

“Write drunk, edit sober” -anonymous

In assignment one you have identified the problems of a particular market segment, and designed an innovative solution that addresses their needs. Typically that was the “fun” part, where fantasies and imaginations are free to roam. Now we have to bring the idea down for a reality check, which means that initial idea might change. In other words, you are not confined to stick with what you submitted for Assignment 1. In fact, we encourage you to evolve the innovation as you come across obstacles or issues that did not cross your mind before you used the frameworks given in this assignment.

In this assignment, you will be given two frameworks and you must complete the tasks below:
1. Create a complete business model canvas of your proposed innovation
2. Provide answers to four questions that businesses have to be aware of when launching their offering to the market
 

Assignment Details
Task 1. Creating a complete business model canvas
The Business Model Canvas (BMC) by Osterwalder & Pigneur provides a template of nine dimensions that is aimed at equipping new ventures before they are launched. You must complete all nine elements by integrating/using concepts of services marketing provided from the Lovelock, Patterson, and Wirtz (2014) textbook. The outputs of this task will be two parts, a one-page “canvas” highlighting the summary of your elements, and a section that elaborates each element.

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