MBA 5010 Week 5 Assignment Rolando Guerra

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Webster University *

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5010

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Business

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Apr 3, 2024

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MBA 5010 Week 5 Assignment (Rev 2) The weekly assignments are intended to be completed individually. It is important in an online program that you pay careful attention to when it is and is not appropriate to work with peers. Misunderstandings can have significant consequences. By submitting this assignment, you are attesting that you completed this work without assistance from another current or former student of this class. Exceptions can be made for tutors, but only with prior consent from your instructor. Your answer will be evaluated based on correctness, completeness, and clarity. Be attentive to your writing. You have until midnight CST Sunday to submit both parts of this assignment. Part A (25 points) Re-frame each statement as a more appropriate value creation-oriented question that might lead to a marketable opportunity. And then suggest a creative response. Example – I’ve been playing banjo my whole life. I’d like to quit my job and devote myself to playing. Response - Is there an untapped market for unique entertainment that a banjo player might fill? Possible answer – It’d be memorable entertainment at events (e.g. art openings, birthdays, etc) so long as it wasn’t distracting. Question 1 – I want to have my own company so I can leverage my creative talent at cake decorating. Response- Is there room in my local market for another cake bakery? Answer- my unique cakes offer something different than your average bakery made cake. Question 2 – There’s an empty store front across from the grocery. I’ve always dreamed of owning my own karate studio. Response - How many karate dojos are in the area immediately surrounding the grocery store? Answer- my karate dojo offers another type of martial art compared to other fight dojos in the area. For each of the following products, articulate the full value proposition. It doesn’t have to be one used by the actual company. So, take whatever license necessary to demonstrate you understand the components of a strong value proposition. Example – Samsung phones

Value Proposition - Consumers are on the go in a world that also demands ever-increasing connectivity. Samsung phones provide the highest-speed connectivity available with an easy to use interface all at an affordable price. Explanation - The problem faced by their market is the perceived need to “keep up” without spending exorbitant amount of money on a phone. By highlighting “highest-speed” and “affordable price”, the message also differentiates the Samsung solution from that of competitors. Question 3 – Anheuser Busch’s Bud Light Bud light is the go-to beer for those who appreciate the finer things in life. It uses the finest ingredients that is light on the palate but heavy on flavor. This value proposition focuses on several key components of the brand, such as is simplicity, the quality of its ingredients, versatility and the lifestyle associated with the beverage. Question 4 – Target Stores Target retail stores offers a unique blend, of quality, convenience, and value. The value proposition is that they are your one-stop shop for all your needs. They offer a wide array of products, from trendy fashionable clothes to everyday essential items, all at affordable prices. Plus, their convenient locations and extended business hours, you can shop at your schedule. This emphasizes components such as the quality of their products, convenience, value, and the lifestyle associated with the brand. Question 5 – The new Tesla Truck Tesla’s Cybertruck is not just a vehicle, it’s a statement. With its futuristic design scheme and advanced features, it seeks to redefine what a pickup truck can and will be. Built with an extra hard stainless-steel exoskeleton, its designed to provide superior strength and endurance compared to its competitors. With Tesla’s commitment to sustainability, driving a Cybertruck means reducing your carbon footprint and moving us toward a cleaner environment. Choosing a Cybertruck means choosing to drive the future today. This value proposition emphasizes Tesla’s strengths, such as its innovation for design, the durability of the vehicle, and the sustainability that user engages in by using the truck. Part B (25 points) This week you are to complete a fully complete draft response to the following questions. You are to complete this draft without assistance from either current or former MBA 5010 students. This draft response will be evaluated on completeness and clarity but not graded for content. Next week you’ll be given an opportunity to collaborate with your peers to complete a final response.

In week 1, we analyzed the sharing economy. This week, you’re going to build on the knowledge you gained. Your assignment is to deconstruct the economics underlying AirBnB. Specifically, I want you to answer the following questions:  What resources are being shared?  What is the opportunity cost of the resources “consumed” to facilitate this sharing?  How does this create value for customers?  Does the value created for customers outweigh the opportunity cost of the resources consumed?  Does AirBnB capture a sufficient amount of any value generated to remain a viable business? The purpose of this question is to provide you an opportunity to demonstrate your understanding of the economics of value creation. So, emphasize this aspect of your answer. Shoot for 500 words, although no one is going to count so long as you’re close. Airbnb is a platform that enables people to rent out their homes, apartments, or rooms to travelers. The resources being shared are the living spaces of the hosts. Airbnb provides the platform for hosts to list their properties and for guests to search and book these properties. The opportunity cost of the resources being used to facilitate this transaction is the foregone income the hosts could have earned by renting out their property through some other means or by using the property themselves. Airbnb creates value for customers by providing them with affordable and flexible lodging options that aren’t available through traditional hotels. Customers can choose from a wide range of properties that suit their needs and preferences, such as price, amenities, and style. Airbnb also provides a personalized and authentic travel experience by allowing customers to interact with local hosts and communities. Whether the value created for customers outweighs the opportunity cost of the resources consumed is a matter of debate. Some argue that Airbnb has disrupted the hotel industry by providing a more affordable and flexible alternative to traditional hotels, while others argue that Airbnb has contributed to the housing crisis by reducing the supply of long-term rental units and driving up housing prices in some cities. (Reinhold, 2021) Airbnb captures enough value generated to remain a viable business by charging a service fee to both guests and hosts. The service fee is usually a percentage of the booking subtotal and varies on the length of the stay and other factors. (CMU, 2021) Airbnb also generates revenue by offering additional services such as cleaning, photography, and property management to hosts for a fee. Airbnb’s business model has been successful so far, but it faces challenges such as regulatory issues and competition from other platforms seeking to capture more market share.

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Works Cited University, C. M. (2021). Study finds airbnb units expand market but reduce long-term rentals, including affordable housing - tepper school of business - carnegie Mellon University . Study Finds Airbnb Units Expand Market But Reduce Long-Term Rentals, Including Affordable Housing - Tepper School of Business - Carnegie Mellon University. https://www.cmu.edu/tepper/news/stories/2021/september/airbnb-market- expansion.html Reinhold, S. and Dolnicar, S. (2021) The evolution of Airbnb’s business model, in S. Dolnicar (Ed.) Airbnb before, during and after COVID-19 , University of Queensland DOI: https://doi.org/10.6084/m9.figshare.14195957

MBA 5010 Week 5 Assignment Rolando Guerra

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