Business Model and Plan Report
Description
You are asked to undertake some market investigation and to apply some creative techniques that will enable you to develop a new business idea. You are required to develop a business model for your idea and write a short report for the proposed business idea based on the model created. Your business model should clearly show how the business idea can be sustainable and how it can generate income. For the proposal you should write a short report of no longer than 825 words to describe the idea, need in the market and how your business product/service will meet that need in the market. The proposal should explain how this will be delivered and include any revenue models.
The business model proposal should include a brief account of the following components:
- Market Need: What is the need of the market?
- Value Proposition: What do you offer to customers to meet the market need? How will you deliver it? How will it be different from others?
- Target Customer: Who is your target customer segment(s)?
- Revenue Model: How is revenue created?
As this is a business idea proposal, the report should be brief and does not need detailed operational or financial data. The aim is to show the viability of the venture at the early stage of new business development.