Question

Prepare Business Model Canvas for your business(Business Plan: Start of an “E-Commerce” for the Central Asia). This must be a maximum 2 pages submission – YOUR BMC should answer the following 1.KEY PARTNERS(list your partners if the project is to implemented in Central Asia ) 2. Key Activities (describe your key activities) 3. Value Proposition ( insert your value proposition ) 4.CUSTOMER RELATIONSHIPS (describe how you plan to establish and manage the relationship between the customer and your brand ) 5.CUSTOMER SEGMENTS (describe your target customer segment ) 6.KEY RESOURCES(list the key resources available to you ) 7.CHANNELS (describe 1) how you plan to acquire customers, 2) how you plan to deliver your value proposition to them and 3) how you plan to communicate with your customers ) 8.COST STRUCTURE(Describe your cost structure ) 9. Revenue streams(describe your revenue streams)

Answer 1

To begin answering this ques, Let's assume a business plan of starting e commerce of Organic soap - one of your brand named as "sehaj".

To start with the e commerce business, a well defined business plan and marketing strategy is very much essential. Lets categorise the business plan into pointers :

1. Key research of the market and product development :

Since, we are planing to launch the e commerce of an orgaic soap then before getting it started, it's very much important to analyse the market trends in central asia. It would include, researching about our competitor companies, the product range they have and what's their market share. It's very much crucial that our product range shoud have something unique so that it can fight with other brands in such an competitive market environment. Hence, our r&d team should be well versed to do it and manufacture our products accordingly.

2. Brand registration and having quality mark over it :

Once we are done with the manufacturing part, it;s very needful to get our brand registerted and it shoud have the ISO mark. People trust brands hence to gain the market trust, our product should meet all the desired quality checks so that we can have the ISO mark over it. Moreover, out website should be handy and functional so that people can order their desired products.

3. Key Partners allocation :

Once product and website is ready and we are fully prepared to go live but before that it's essential to allocate various key partners. Key partners can be in terms of investment companies if we have received a funding from any investor or it can be allocation of Logistics partner. Since, central asis is a very big continent hence all the logistics activities should be handy region wise. So, that we can serve our customers in less than 48 hours after the customer places his or her order. This leaves a very positive impact on the consumer's mind.

4. Determination of the Cost structure :

If we want to attract the majority of the customers, and want to create a brand image then it's very imp to work on the cost of our product. This has to be decided before launching the product range. Since we have already researched about our competitors so the cost shoud be such that it can suit the pocket of every consumer. If our product range are cost effective, then we can attract the maket in a very short time frame.

5. Marketing and promotional activities :

A strong marketing plan is very helpful in creating a brand awareness and making customer base. It also involves a plan that focuses on how we are going to attact our consumers. It should have the following strategical parameters

* Since the world is digitalised and almost everyone is on internet these days so we can take help of the digital marketing to market our business and products.

* Regular campaigns like google ads, Fb ads, a strong presence of our business on insta and other social media platforms will gain majority of the customers and will eventually create our brand awareness among our customers.

* Getting endorsed by well known and popular celebs and personalities will help us a lot quicker. Though this is a costly marketing activity but instead gives very positive results.

* We can also get our products promoted through the well known advertising agencies since being new to the market they can help us gaining the customer trust quickly.

* We may take regular feedbacks of our customer by promoting a centralised customer care center number. This would also help the customer if in case they have any query about the product, their order status and much more.

* Tv commercials and newspaper advertisement pushes the product range and makes it a brand very soon.

Once marketing is successful, company would starting making huge profits and eventually the business would grow and expand plus the revenue would rise.

6. Revenue streams and expansion :

To be in the market for very longer terms, product expansion and upgradation is very much essential. Hence, as the revenue starts coming we should diversify it into various sectors like : creating new variety of products, products upgradations, expansion of business into other sectors and other geographical locations.

if these strategies are followed, then we can become a brand in a very short span of time.

Hope this helps !!