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The Business Model Canvas

Essay by   •  October 5, 2018  •  Presentation or Speech  •  422 Words (2 Pages)  •  57 Views

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The Business Model Canvas        

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Key Partnerships

  • We will need a partnership with someone who makes the basic materials for wall plugs
  • We will also need a partnership with someone who has the ingredients to make the scented oils
  • We will need a supplier such as the Post Office to pick up and deliver the scents.

Key Activities

  • We will need to stay extremely active on social media
  • We will also need to create new scents constantly
  • We will need to scout people to advertise our products
  • We will need to create new wall plugs for people to additionally purchase

Value Proposition

  • The value we are delivering to our customer is a scent that will make their place feel like home
  • The problem our product is helping our customer solve is to mask unwanted smells and instead bring happiness into their home with the sweet smells of the seasons.
  • Our customers would receive a wall plug of their choice with their first purchase and that month’s smell. Each additional month that customer would just receive the scent. Different plugs can be purchased separately.
  • The customer need we would be satisfying is the desire to make their home feel more comfortable and enjoyable, while eliminating the need for our customers to go out and purchase the plugs themselves.

Customer Relationships

  • We will create customer relationships by advertising on Instagram, Facebook, and Twitter.
  • We will also create customer relationships by reaching out to potential customers and offering them a free product in exchange for a post on their page featuring the scent and their opinion.
  • We will also feature real customers on our pages

Customer Segments

  • The customers Sweet Scents is going to cater towards are mainly middle class younger women who use social media

Key Resources

  • Our secret scents
  • Our employees
  • Our advertisers/ people who advertise our product

Channels

  • Customers will be able to purchase Sweet Smells online.
  • Social media will directly link them to our store online

Cost Structure

  • Scented oils
  • Wall plug materials
  • Shipping costs
  • Advertising costs
  • Employee salaries
  • Rent

Revenue Streams

  • We will receive revenue from selling the initial wall plug
  • We will also receive revenue for the cost of the subscription each month
  • If customers want to purchase additional wall plugs that go with the seasons, that will be an additional revenue
  • Customers will pay online and it will be an automated renewal every month. They can cancel whenever on the website.

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