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The internet has enabled online Business Models to emerge, and I will have introduced some of these during the last 7 sessions. I have discussed Osterwalder and Pigneur’s (2010) business model canvas. You are required to demonstrate that you have understood the business model canvas by applying it to 3 online businesses based in Bangor (Companies A, B & C).
Company A is Aled’s Bookstore which is a company that offers a subscription service to a catalogue of books. Aled’s Bookstore provides its subscribers with a new book title each month according to the reader’s preference. Subscribers can update their preferences and provide reviews and feedback on the books they’ve read via the online portal.
Aled’s Bookstore offers the first 3 months of access to the subscription service at half price but after that, they aim to have ‘locked in’ customers to their service and customers pay on a monthly subscription basis. Aled’s Bookstore provides a community for readers and updated booked titles and new releases are included in the subscription. Although only 5 years old the company has gone from strength to strength and although customers are from all over the UK it is proud that its head office which has 25 staff is still located in Bangor. They have already generated a strong reputation for providing good quality books that appeal and revenue is increasing by 15% year on year. They have a team of book reviewers working in the head office but also use freelance readers on specific genres from time to time. They spend 17% of their revenue on online marketing which is quite high but as things are going well, they feel that this is justified.
Company B is Bodnant Beauty Products, an innovative start-up setup by 3 ex-Bangor University students 10 years ago. They produce natural skincare products and write blogs about skincare and try to produce unique and quality content in their blogs every day to support their online skincare sales. They have 5 million visitors to their website and blogs each year and have managed to monetise their site using Google Adsense on a Cost Per Click, CPC Ad basis.
Bodnant Beauty Products source all its supplies locally and distribute them from a local warehouse in Bangor. They sell 60% of the content via their website and 40% via other e-retail stores like eBay and Amazon.
Company C is Catrin’s Cupcakes which was set up by Catrin Jennings 7 years ago. It is a relatively small company that offers daily baked cupcakes and sweets to the local area which can be ordered online through Catrin’s website and via her social media channels. She bakes with seasonal ingredients, local spices and herbs sourced from 7 farms in Anglesey and Gwynedd. Specialist cakes for birthday parties, weddings etc. can also be ordered online. Catrin is environmentally friendly and is keen to do her part in reducing costs and her carbon footprint by avoiding delivery outside the local area. Catrin also hires local people who have previously been unemployed for some time to work in the bakery and as delivery drivers. Catrin’s Cupcakes offers training to those with no experience and Catrin wants her business to be a force for good in the local area. Catrin’s Cupcakes has established a loyal customer base serving many families locally making lovely cakes at affordable prices.
What you are required to do in this assignment
You are required to apply the business model canvas to the 3 businesses A, B and C described above. You will need to apply all 9 parts of the canvas. There are parts of the canvas that are missing from the descriptions above so you will have to make reasonable assumptions about these parts. These assumptions should be sensible and appropriate; you must state them clearly and discuss them, giving your reasons for your choices. In this discussion of your reasons (justifications), you will need to consult wider articles and readings including academic literature.
The business report will be assessed on the basis of:
- Clear and logical discussion of the application of the Business Model Canvas to the 3 businesses A, B and C. It must include all 9 aspects of the canvas but most importantly the Core Value Proposition, the Sources and Methods of Revenue Generation and the Costs of Revenue Generation stating any assumptions that you make.
- Understanding of business model concepts
- Evidence of wider reading/research to substantiate the discussion.
- Justification for statements made (e.g., logical reasoning rather than unsupported statements)
- Critical appraisal rather than pure description
- Clear title, summary, contents and conclusion
- Clear citation and referencing (sources – relevance, range, citation accuracy) using the Harvard Referencing System. You must use at least SOME academic sources – they should not all be from company websites as these are biased.
- Professional standards of presentation
Appendices may be used if appropriate – these should be clearly titled and correctly numbered (these do not form part of the 3000 words).
Word Count: 3000 words
Submission date: via TURNITIN in Blackboard
You are reminded not to copy material from any sources without properly referencing it, as this constitutes plagiarism: cases of plagiarism will be referred to the Business School Academic Integrity Officer and will be subject to a deduction of marks, which can result in an overall mark of 0%.
The copying of material extends to the use of essay mills and AI technology such as ChatGPT. You are reminded that the use of such services to generate work in substitute for your own original contributions contravenes Bangor’s Academic Integrity policy. Any detected attempt to use such tools will also result in a referral to the Business School Academic Integrity Officer.