Business Model Draft $(10\%)$

This is an individual project requiring you to develop a comprehensive draft of a business model for a new venture of your choice. You need to showcase the understanding of key elements, components, and strategies required to create a successful business model. Your Model Business plan shall be in the following template $-$

Introduction

a$.$ Provide a concise overview of the new venture idea.

b$.$ Summarize the target market and industry context.

Value Proposition

a$.$ Define the unique value proposition that distinguishes the venture from competitors.

b$.$ Clearly articulate the problem the venture aims to solve or the need it fulfills.

c$.$ Describe how the value proposition aligns with market demands and trends.

Market Segmentation

a$.$ Identify and describe the target customer segments.

b$.$ Explain the rationale for selecting these segments.

c$.$ Highlight the size, growth, and profitability potential of each segment.

Revenue Generation

a$.$ Outline the pricing model and strategy to capture value from customers.

b$.$ Elaborate on any revenue streams, including product sales, subscriptions, advertising, etc.

c$.$ Discuss potential partnerships or collaboration for revenue enhancement.

Customer Acquisition

a$.$ Define the customer acquisition channels $($e$.$g$.,$ online marketing, partnerships, referrals$).$

b$.$ Describe strategies to attract and retain customers. c$.$ Explain the sales and marketing tactics to promote the venture.

Key Activities and Resources

a$.$ Identify the key activities necessary to deliver the value proposition.

b$.$ List the critical resources required for the venture's operations.

c$.$ Explain how these activities and resources will create a competitive advantage.

Cost Structure

a$.$ Provide a breakdown of the venture's cost structure, including fixed and variable costs.

b$.$ Discuss strategies to optimize costs and achieve profitability.

c$.$ Highlight any cost$-$saving methods or leverage economies of scale.

Competitive Analysis

a$.$ Conduct a competitive analysis of existing players in the market.

b$.$ Identify the venture's competitive advantages and distinct features.

c$.$ Analyze potential threats and obstacles from competitors.

Risk Assessment

a$.$ Identify and analyze potential risks associated with the venture.

b$.$ Provide mitigation strategies to address these risks.

c$.$ Discuss contingency plans to manage unforeseen challenges.

Conclusion

a$.$ Summarize the main elements of the business model draft.

b$.$ Highlight the venture's potential for success

Submission Guidelines $$ Submit your Business Plan Model in a PDF version followi