BUSINESS MODEL CANVAS

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Yale University *

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MISC

Subject

Management

Date

Nov 24, 2024

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pptx

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Uploaded by ogwenogatamu

BUSINESS MODEL CANVAS A REVIEW

The Problem: Describe the problem or need your customers have: Clearly articulate the pain points and challenges that your target customers are facing. For example, if you're developing a productivity software, the problem could be that professionals struggle to manage their tasks efficiently. Relevant data: Provide any relevant statistics or data that support your claim. This could be market research, surveys, or industry reports highlighting the prevalence and impact of the identified problem.

The Solution: Your Product or Service: Explain what your product or service is and how it addresses the problem described above. Using the productivity software example, detail how your app streamlines task management, improves organization, and enhances productivity. Key Features: Highlight the unique selling points and features of your product that set it apart from competitors. Value Proposition: Clearly state the value your solution offers to customers and how it resolves their pain points effectively.

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Business Model: Revenue Streams: Describe how you will make money from your product or service. Will it be through direct sales, subscriptions, licensing, or freemium models? Cost of Production: Outline the expenses involved in creating and maintaining your product. This could include development costs, infrastructure, marketing, and personnel expenses. Selling Price: Determine the price that customers will pay for your product, considering factors like market demand, competitor pricing, and perceived value.

Target Market: Ideal Customer: Define your target audience based on demographics, behavior, and preferences. In the productivity software example, your ideal customer might be professionals working in various industries who seek better task management tools. Total Addressable Market (TAM): Estimate the total number of potential customers who could benefit from your product or service. This should be a broader figure that encompasses all potential users who might have the identified problem. Segmented Target Market: Break down your TAM into smaller, more manageable segments based on specific criteria such as geography, industry, company size, etc. Serviceable Available Market (SAM): This represents the portion of the segmented target market that you can realistically reach and serve.

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