StudyPro Business Model

As presented in the appendix, all the nine aspects of the business model canvas work hand-in-hand in ensuring that the users or customers of the StudyPro interface get the best value proposition that this business presents (Strategizers, 2018). Some of the key partners in this business include learning institutions and the suppliers of stationery, snacks, and juice. It is because they will serve in offering services to students who decide to exchange their accrued points for juice, snacks or stationery. As a result, the students will see more sense of their efforts and even have further reasons to appreciate the platform since a physical form of appreciation may be better off than just electronic points. Most of the outlets will be decided based on their locality and strategic positioning to the students. That is, selections are considered base on distance from the learning institutions.

The critical resources that the consumers will demand to enjoy the business include the StudyPro interface, a laptop, and an internet connection. Therefore, it is straightforward and more profitable to gain from this idea. Additionally, the idea is surfacing in a time when there is a large number of millennial. Hence, the understanding and reception of the functionality of the system are not expected to be a challenge (Douglas, 2017). Significant costs are only incurred in setting up the interface through programming and undertaking subsequent upgrades. Other costs due to services will cancel-out since the users of the platform will operate in a win situation. That is, they earn points which enables them to enjoy some opportunities like advertising via the platform which attracts a large number of people and also supplies from juice, stationery and snacks suppliers. Such interaction with the users will also enhance customer relations and rapport.

The company’s value proposition is also, and it also proves the company’s relevance to the market. That is, the StudyPro to provide a more relaxed and free platform for students who are not active or interested in learning. It is a portable product that can be used in all places, even outdoors, by asking questions or watching videos. The StudyPro is a stable platform; it can provide a variety of learning styles for people on the move (Wang, 2016). Again, the company’s mission is to improve the quality and affordable StudyPro, which not only provides students with a convenient and fast learning platform but also provides students with a freer learning environment.

The StudyPro platform ensures that the disadvantaged group students are availed with a platform where they can easily present their problem and get answers that respond to them. Therefore, all students automatically get the chance to be even in academics. Additionally, the more advantaged students are also benefiting since they can benefit from their dedication in attending classes and understanding of lecture sessions. Thus, they can upload the lecture session videos and even actively involved in answering some of the questions within their wits in the platform. They, in turn, earn points which they use for choices they prefer as offered by the platform. The platform also encourages students’ productive learning and use of the computer. As in other physical products and service delivery, our customers also have the opportunity to rejects or refuse a product they feel is not worth in solving their needs (Benton, 1996).

Bibliography

Benton, L., 1996. Custome furniture manufacturing and retailing, s.l.: s.n.

Douglas, M., 2017. Who Are the Millennials?. [Online]

Available at: https://www.livescience.com/38061-millennials-generation-y.html

[Accessed 16 October 2018].

Strategizers, 2018. The Business Model Canvases. [Online]

Available at: https://strategyzer.com/canvas/business-model-canvas

[Accessed 16 October 2018].

Wang, H., 2016. Business plan for a Chinese furniture company, s.l.: s.n.

Appendix

Key partnerships

The company to students

Company to other service providers (for example, snack outlets/canteens)

Company to learning institutions Key activities

Creating a platform where disadvantaged students can get a boost from the better-performing students Value proposition

Students find more comfortable access to lessons missed and also get their questions answered through the platform

Students get a platform to advertise their products and services

Key activities

Creating a platform where disadvantaged students can get a boost from the better-performing students

Value proposition

Students find more comfortable access to lessons missed and also get their questions answered through the platform

Students get a platform to advertise their products and services

Customer Relationship

Benefits are offered to frequent participants of the platform, for example, free advertising or exchange of points for snacks

Customer segments

Students with crazy and unrealistic timetables

Students with part-time occupations

Students with a slow pace of understanding

Students intending to help others in exchange of benefits to advertising through the platform

Key resources

A study pro user interface

Internet connection

laptop

Channels

A study pro user interface

Internet connection

laptop Channels

The students with challenges in learning find their questions answered and trouble with missed lectures solved

Students are also attracted to the platform to continually participate in helping so that they benefit from their accrued points

Cost structure

Revenue stream