In developing a business model for a mobile vending kiosk of homemade ice cream, the business model canvas can be utilized. The steps that can be followed are discussed below.
First and foremost, it is imperative to identify the key suppliers and in this case, these involve the companies that supply the ingredients used in making ice cream.
The next step is to define the key activities that will be carried out. This includes preparing the ice cream and marketing it to different customers through a mobile vending kiosk.
Value proposition-mainly deals with creating value of the product offered. Effort will be made to try to appeal to the interests of the customers so that they can perceive this product as valuable to them.
Creating customer relationship is another very important step that should not be overlooked. This helps to create loyalty among the customers and they can help in giving feedback about their expectations about the product offered. This can also help the business owner in attempting to satisfy their needs.
The other important element that ought to be taken into consideration is about customer segments. The most important customer in this case includes school going children as well as other young people. This helps the business owner to focus on the right group and resources are not wasted by focusing on a large market that does not consist of the targeted customers.
The other step that should be taken into account is about identifying the key resources needed to operate this business. The key resources in this case should include the ingredients for making the ice cream. The other resources required include a delivery van equipped with the vending kiosk of the ice cream to the customers. The packaging of the ice cream also constitutes a very important resource that should be procured before the commencement of business.
Distribution channel is the mobile vending machine. It can be moved from place to place and these places include schools as well as other busy streets. The product will also be distributed in residential areas since the vending kiosk is mobile and can move from one place to the other. In terms of distribution, effort should be made to ensure that the product is positioned in such a way that it will appeal to the interests of the customers as the best compared to other alternatives available.
The other consideration in this model is identification of the cost structure. A budget should be drawn and it should also outline the costs likely to be incurred in setting up this new business venture. This helps to determine the feasibility of the business venture.
Lastly, consideration should be taken about the nature of the revenue stream. Effort should be made to establish if the revenue stream can sustain the business venture in the long run. This also helps to determine the course of action that can be taken to turn around the fortunes of the company.
Canvinizer. Create a new business model canvas. . Web. 21 March 2015.
(“Small business management Assignment Example | Topics and Well Written Essays - 500 words”, n.d.)
Small business management Assignment Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/management/1684543-small-business-management
(Small Business Management Assignment Example | Topics and Well Written Essays - 500 Words)
Small Business Management Assignment Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/management/1684543-small-business-management.
“Small Business Management Assignment Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/management/1684543-small-business-management.
...undertakings. Transparency International rated it second together with Finland after Iceland. This is as per 2005’s study of 159 countries using CPI- Corruption Perceptions Index. New Zealand was also considered stable, open as well as competitive economically, has a business oriented governance, and cost competitive structures with low policy in inflation, flexible labour market and low rates of corporate tax. (wellington.govt.nz, 2011) According to Oliver and English, in their book, a smallbusiness refers to a business that is personally owned or managed. It may also be taken to be that entity which is void of managerial staffs that are specialists or...
...SmallBusinessManagement Answers The research to be done before the marketing strategy of the online clothing store should ideally include intensive trend analysis of the kind of apparel the store will deal in along with the segmentation information to correctly target the core market for the store. While the forecasted spending of the whole population of the country can provide you with the ‘big picture’ of the economy and an idea about the sector is set for growth or not; for the online store to perform well the initial planning has to be done based on the analysis of the online market; traffic trends; marketing vehicles; promotional activities and most importantly the preferences of...
...international players as well as other franchises (Henry, 2008, p.51).
The café and restaurant industry of Australia can be tagged as highly competitive. The main reasons can be presumed as very low barriers to entry. Add to that the industry is believed to be highly fragmented. According to reports the major players hold less than ten percent of the total market share. The small players enjoy a fair share of success as the 91% of the food chain businesses have less than fifty employees. There exists strong presence of franchisee model or any equivalent business strategy. Companies like McCafe, Coffee club, Hudsons Coffee, out back Jacks, etc. have set up strong...
Small business management entails precise analysis of how an entrepreneur provides the goods and services of his business in the market. It involves identifying the strengths and weaknesses of the business to be able to handle them in the production stage and ensure competitive advantage. An efficient management of a small enterprise requires an efficient marketing plan strategy that indicates the approach of the venture operation. The owner should establish the structures of the business that can effectively define the qualified professionals for the job. Operation of the small enterprise entails control of marketing strategies, sales, and advertising of the enterprise (Zimmerer & Scarborough, 2005, p. 12). Experts agree t...
...Investment Readiness of Small-Medium Enterprises Introduction: Investment readiness is a factor of development preparation and quickening in Small and Medium Sized Enterprises (SMEs) and any failure to properly evaluate it leads to many SMEs failing to realize their prospects. The issue of finance is very crucial to any business organization no matter how much readiness they may assert to be and financial managers should be able to make decisions that are viable and can lead to achievement of set objectives.
The respective managers should understand the aspect of financial management in order to succeed in their day to day operations....
...SmallBusinessManagement: Impact of Globalization on marketing strategy of Hauri and Section # of >
Competition rather fierce competition is the precise term that defines the business that exists in the world today; especially with phenomena such as globalization coming up and settling into our economy, it is essentially important to re-define the way things are done and thought. This paper is an analytical review of how competition has been increasing over the past few years.
In Korea during the year 1998, five young programmers met at a local gathering and felt the need for a local computer vaccine i.e. an anti virus. These five...
...Information Strategy for Virtual Transport Introduction SmallBusiness operations have played a crucial role in the world economy since ancient history and provide the foundation for developing businesses in to large-scale operations. Despite the importance of smallbusiness enterprises to the economy, almost 80% of smallbusinesses fail during its first 5 years (Allen 2000). Among the key factors contributing to such failure lies the lack of proper information systems and monitoring strategy of the business operations and financial aspects (Venter, Eden & King 2004). This results in poor...
...A MODEL OF RETIREMENT PLAN I will not be retiring any time soon but will be retiring after a year. I would be graduating with a business degree andwith my majors as marketing and advertising. My career would be in marketing and along the lines of a Marketing Manager. I plan on starting off as Management Trainee at an MNC with an average annual salary of one lakh dollars. For this it will be very important that I pass with good grades in college, so that I have all the necessary documents to land me my desired job. I plan on pursuing my career on employment for the next two years after which I will switch jobs to the company that would be willing to pay me the highest. I am hopeful that...
...SmallBusinessManagement My business plan concept is opening a small restaurant of halwa poori, which is one of the most popular Indian meals for breakfast and special occasions in India. Among the vast range of foreign cuisines, one that appeals to the taste buds of the European and the Western people happens to be the Indian cuisine. Although halwa poori is one of the most exotic and festive meals in India that are equally liked by the foreigners in India belonging to all age groups in general and specifically elders, yet there are certain exceptions. For example, children particularly of the generation z may find halwa poori a very heavy meal for the...
...SmallBusinessManagement College: What are the primary points of emphasis in a start-up business plan? How might this plan evolve as it changes from a start-up plan to an ongoing business plan that will be used by the company?
The primary points of emphasis in a start-up business plan include elements of business concept, financial features, financial requirements of the proposed business, business goals and objectives, product and services as well as management ownership and not forgetting market research. All these elements of a business plan have a...
3 Pages(750 words)Assignment
Save Your Time for More Important Things
Let us write or edit the assignment on your topic
"Small business management"
with a personal 20% discount.