Quiz 5 score: 18/18
Question 1
What is the Value Proposition that your company or organization offers to solve customer
problems and satisfy their needs? Your response should address value proposition items to
include a distinct mix of elements catering to a customer segment’s needs. Values may be
quantitative, such as price or speed of service, or qualitative, such as design or customer
experience. Please respond with one paragraph.
Answer for Question 1
You entered:
The
value proposition of my coachin
for students to show case expe
quest for finding a job they like.
Your Answer
The value proposition of my coaching aims to satisfy the quantitave need for students to
showcase experience, attitude and personality on their quest for finding a job they like. A
qualitative aspect of the value proposition is that I am a peer instead of a parent/teacher kind
of figure and thereby connect to my clients. In terms of price (quantitative element), I aim to
keep it cheaper than normal coaching. But the focus will be on the quantitative service of my
coaching and rapport building skills that will satisfy the customers need for feeling
understood, being challenged and being helped along the way.
Question 2
What are the Customer Segments that your company or organization serves? Your response
should address customer segment items to include the needs and wants of customers,
distribution channels, types of relationships, different profitabilities, and the customers'
willingness to pay. Please respond with one paragraph.
Answer for Question 2
You entered:
My
Customer segments w ill be dive
be a niche market of start-ups,
facilitation. But on the other han
Your Answer
My Customer segments will be diversified because on the oen hand, it will be a niche market
of start-ups, small businesses whow ant creative facilitation. But on the other hand, it will be
a segmented market of young undergraduate and graduate students who are looking for their
first job. Both segments need structure, support and challenging questions to get them on the
right track. THe first (niche market) will be willing to pay a lot more than the second
(students). Distribution channels will mostly be social media, netwerking and perhaps
forming partnerships or alliances with the young profesional network and create network of
entrepreneurs. So in that sense, both vertical (small companies) and horizontal (students,
recent graduates like m) relationships/partnerships will be used for marketing (mostly brand
awareness and post sales support.
Question 3
What Channels does your company or organization utilize for communication, distribution,
and sales? Your response should address some or all of the five distinct channel phases which
include awareness, evaluation, purchase, delivery, and after sales. Please respond with one
paragraph.
Answer for Question 3
You entered:
For
aw areness I w ill use the socia
professional netw ork to extend
support via young professiona
Your Answer
For awareness I will use the social media channels and utilize my professional network to
extend the option for purchase and post-purchase support via young professional networks.
In terms of delivery, I will use mostly face to face but also digital follow-up so I can
integrate the channels that I use. Sales and delivery will mostly be me as well. Evaluation
will most likely be an online survey channel.
Question 4
What are the Customer Relationships that your company or organization plans to establish
with its customer segments? Your response should address customer relationships that may
include customer acquisition, customer retention, and upselling. Please respond with one
paragraph.
Answer for Question 4
You entered:
For
customer acquisition, I plan to e
are mainly brought about throug
motivation to keep them (custom
Your Answer
For customer acquisition, I plan to establish sutomer relationships that are mainly brought
about through networking and online marketing. My motivation to keep them (customer
retention) will manifest itself through the digital follow-up of sessions. This will improve the
chances of upselling. Afterall coaching and creative facilitation needs recurrent revenues.
.
Question 5
What are the Revenue Streams that your company or organization will generate? Your
response should address at least one of the following transaction revenues resulting from onetime customer payments or recurring revenues resulting from ongoing payments. Please
respond with one paragraph.
Answer for Question 5
You entered:
Both
one-time customer payments s
creative facilitation can occur, b
recurring revenues w ith multiple
Your Answer
Both one-time customer payments such as a single coaching session or creative facilitation
can occur, but it will hopefulyy lead into recurring revenues with multiple sessions (coaching
plan etc). For customer payments, the choice of committing to a long-term recurring service
needs to be an attractive option so I can have healthy revenue streams.
Question 6
What are the Key Partnerships that your company or organization utilizes? Your response
should describe the company or organization’s network of suppliers and partners. Examples
of partnerships include strategic alliances, co-opetition, joint ventures, and buyer-supplier
relationships. Please respond with one paragraph.
Answer for Question 6
You entered:
I
don't need any suppliers other
manageable by myself. How ev
partnership w ith the young prof
Your Answer
I don't need any suppliers other than knowledge and network, so these are manageable by
myself. However, a strategic alliance would be to form a partnership with the young
professioanls network. this should not be too difficult since we would not be competition, but
merely complementing eachothers services. I do not have buyer-supplier options, so key
partnerships are mostly network and relationship focused.
Question 7
What Key Resources are required to make the business model work? Your response should
address key resources that can be physical, financial, intellectual, and/or human. Please
respond with one paragraph.
Answer for Question 7
You entered:
Key
resources are mostly intellectu
my essential elements for the bu
physical and even human resou
Your Answer
Key resources are mostly intellectual and human: knowledge and network are my essential
elements for the business model to work. Financial and physical and even human resources
are all manageable by me.
Question 8
What are the Key Activities your company or organization must perform? Your response
should describe the most important activities a company must perform to operate successfully.
Key activities will differ depending on type of business. These activities may be outsourced or
completed within the organization. Please respond with one paragraph.
Answer for Question 8
You entered:
Key
activities w ill include coaching,
sessions and the same goas fo
only thing that could be outsour
Your Answer
Key activities will include coaching, preparing and follow-up of coaching sessions and the
same goas for the creative facilitator sessions. The only thing that could be outsourced would
be the marketing, brand awareness and customer acquisition. But most key activities will be
in-house. Particularly in the beginning.
Question 9
What is the Cost Structure of your company or organization? Your response should describe
all costs incurred to operate the business model. Two types of cost structures are cost-driven
and value-driven; many business models fall somewhere in between these two models. Please
respond with one paragraph.
Answer for Question 9
You entered:
themselves, marketing, customer r
aw areness. Since it is both a relat
the cost structure w ill mostly be tim
to its' premium value propositions.
Your Answer
I will be value-driven and in order to keep on creating and delivering value, maintaining
customer relationships and generating revenue, I will need to spend a massive amount of
time working on the actual sessions themselves, marketing, customer relationships, followup, brand awareness. Since it is both a relative new service, and not a product, the cost
structure will mostly be time rather than other resources due to its' premium value
propositions.