Journal Canvas Business Model
Teknoto.Net - The Business Model Canvas is one of the most widely used business models in research journals. The canvas business model discussed also varies depending on the source of the research.
Research sources used in journals usually come from companies or SMEs class entrepreneurs. The canvas model approach is considered suitable for elaborating the business approach taken by service, cafe, fashion, or food business people.
In theory, the business model canvas has 9 elements. Let's discuss it one by one in the article below.
What are the Journal Canvas Business Models?
1. Customer Segment
According to a researcher, he explained that the customer segment can be divided into 4 parts. Among them are demographic, geographic, behavioral, and customer journey segmentation.
You must be able to describe who is your target in these 4 things, then design it into a strategy to attract the people you are targeting.
2. Value Propositions
Value propositions are one of the keys for your business to be able to run, develop and survive in the long term. In a business, you must have something different from similar products that are your rivals.
This differentiating factor can be in the form of service, price, quality, or other things that are felt to make customers interested in using our products repeatedly.
In simple terms, channels are the methods that you will use to convey your value proposition to the people who are your customer segment.
This can be done in several ways, such as promotion using social media, websites, brochures, electronic advertisements, or by placing billboard advertisements on streets that your prospective customers often pass.
4. Customer Relationship
In business, you don't just talk about today, you also have to talk about the future. Customer relationship talks about how you attract new customers and keep those customers to become loyal customers of your product.
This can be done in several ways, for example, ensuring product quality is maintained, promo prices, or continuing to issue the latest innovations so that your customers don't get bored with the products being sold.
5. Revenue Stream
Not only profit from the main product you sell. You can also think of other ways of how your business makes money from things related to the main product.
This can be done for example by making special merchandise, paid membership cards, franchises, and so on.
6. Key Resources
Record the main resources owned by your business in both physical and abstract assets. Examples of physical resources such as tables, chairs, equipment, machines, etc. Meanwhile, resources in abstract form, for example, are brands.
7. Key Activities
A business must have key activities in the process of running its business. For example, the activities of producing goods, packaging goods, warehousing.
You need to record these activities. Reduce activities that are deemed unnecessary, then make sure the main activities can run effectively and efficiently in the process.
8. Key Partnership
Businesses cannot run alone, all need good support from other business fields. Decide who will be your partner, be it your raw material supplier, advertising agency, shipping service, or selling business consultant that you will use.
9. Cost Structure
Some costs must be incurred in a business, ranging from the cost of purchasing raw goods, employee salaries, building rent, administration, etc. There may also be unexpected costs that you have to prepare for in business. You have to record all that well so that the company's cash can run well later.