Prakhar Dubey’s Post

Mastering Business Understanding: Unlocking Success with "BMC" A suitable framework for understanding any business from scratch is the Business Model Canvas (BMC). The BMC is a strategic management tool that allows you to visualise and assess all the key components of a business on a single page. It provides a structured way to understand how a business creates, delivers, and captures value. The Business Model Canvas consists of nine building blocks: Customer Segments: Who are the target customers? What are their needs and preferences? Value Proposition: What products or services does the business offer to satisfy customer needs? Channels: How does the business reach and interact with its customers? Customer Relationships: What type of relationship does the business establish with its customers? Revenue Streams: How does the business generate revenue from its value proposition? Key Resources: What are the essential assets and resources required to deliver the value proposition? Key Activities: What are the core activities necessary to operate the business? Key Partnerships: Who are the key partners or suppliers that contribute to the business's operations? Cost Structure: What are the main costs involved in operating the business? Now, let's consider a real example of understanding a business using the Business Model Canvas: a food delivery service like Uber Eats. Customer Segments: The target customers include busy professionals, students, and individuals who prefer the convenience of having food delivered to their doorstep. Value Proposition: The service offers a convenient platform for ordering a variety of food from local restaurants and having it delivered quickly. Channels: Customers access the service through the Uber Eats mobile app or website. Customer Relationships: The platform fosters a transactional relationship between customers and restaurants, with minimal direct interaction. However, customer support is available for assistance and issue resolution. Revenue Streams: Revenue is generated through commissions charged to restaurants for each order, and possibly delivery fees charged to customers. Key Resources: Key resources include the mobile app/website, delivery infrastructure (drivers), and partnerships with restaurants. Key Activities: Core activities include managing the platform, acquiring new restaurant partners, ensuring timely deliveries, and customer support. Key Partnerships: Partnerships with restaurants are crucial for offering a wide range of food options. Additionally, partnerships with payment processors and delivery drivers are essential. Cost Structure: Costs include technology development and maintenance, marketing, customer support, and driver payouts. Here BMC is implemented on UBER EATS #BusinessStrategy #Entrepreneurship #BusinessModelCanvas #StrategicManagement #BusinessAnalysis #Innovation #StartupSuccess #BusinessDevelopment #EntrepreneurialMindset #ValueCreation

🚀 Startup Strategy Unveiled: Master the Art of Pricing and Customer Loyalty 🚀 Step 1: Begin your journey with an irresistible introductory discount. It’s not just about the numbers; it’s about the value you bring to the table. Step 2: As your brand evolves, so does your pricing. But worry not, your loyal customers won’t feel the pinch. Why? Because… Step 3: The Perceived Discount Now, let’s play the psychology card. Raise the price, but tell them it’s still a discount—just for them. 🎩✨ Their loyalty remains intact, and they’ll happily pay more because they feel special. #StartupHacks #PricingStrategy #NegotiationHacks #CustomerLoyalty #ValuePerception #BusinessGrowth

From AllTopStartups: Mastering Points-Based Loyalty Programs: Building Customer Loyalty and Driving Business Growth ------------------------------- A well-executed points-based loyalty program goes beyond encouraging repeat purchases. It forges lasting connections with customers, giving them reasons to return to your brand time and again. With carefully structured… The post Mastering Points-Based Loyalty Programs: Building Customer Loyalty and Driving Business Growth appeared first on AllTopStartups . #entrepreneur #startups #learnbusiness #techstartups #marketingtips #emailmarketing #businesstools #marketingstrategy #businessowner #startupbusiness #startuplife

In today's fast-paced and interconnected world, service marketplaces play a crucial role in meeting the evolving needs of consumers and businesses. These platforms provide a centralized and efficient way for individuals and organizations to access a wide range of services, from home maintenance and repairs to professional consulting and technical support. Service marketplaces offer convenience, transparency, and choice, allowing users to compare service providers, read reviews, and make informed decisions based on their specific requirements and preferences. By bridging the gap between service seekers and providers, these marketplaces promote competition, quality standards, and fair pricing, ultimately enhancing overall customer satisfaction and driving economic growth in various industries.

From AllTopStartups: Most Important Customer Loyalty Trends in 2024 ------------------------------- 2024 is sure to be a year full of challenges and excitement, from the end of third-party cookies to further advances in the world of AI. Our list of the… The post Most Important Customer Loyalty Trends in 2024 appeared first on AllTopStartups . #entrepreneur #startups #learnbusiness #techstartups #marketingtips #emailmarketing #businesstools #marketingstrategy #businessowner #startupbusiness #startuplife

𝗶𝗰𝗲𝗲𝗽 𝗶𝗻 𝘁𝗵𝗲 𝗡𝗲𝘄𝘀! 📰 𝗧𝗵𝗲 𝗘𝘂𝗿𝗼𝗽𝗲 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿 𝗧𝗮𝗹𝗸𝘀 𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 𝗟𝗼𝘆𝗮𝗹𝘁𝘆 𝗣𝗿𝗼𝗴𝗿𝗮𝗺𝘀 We’re excited to see iceep featured in a recent article from The Europe Entrepreneur titled “Leveraging Takeback as a Loyalty Program: A Circular Strategy for Brands”. 𝗧𝗵𝗲𝘆 𝗱𝗶𝘀𝗰𝘂𝘀𝘀 𝗵𝗼𝘄 𝗼𝘂𝗿 𝘁𝗮𝗸𝗲𝗯𝗮𝗰𝗸 𝗽𝗿𝗼𝗴𝗿𝗮𝗺 𝗵𝗲𝗹𝗽𝘀 𝗯𝗿𝗮𝗻𝗱𝘀 𝗯𝘂𝗶𝗹𝗱 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗹𝗼𝘆𝗮𝗹𝘁𝘆 𝗮𝗻𝗱 𝗰𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗲 𝘁𝗼 𝗮 𝗰𝗶𝗿𝗰𝘂𝗹𝗮𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝘆♻️ 𝗛𝗲𝗮𝗱 𝗼𝘃𝗲𝗿 𝘁𝗼 𝘁𝗵𝗲 𝗮𝗿𝘁𝗶𝗰𝗹𝗲 𝗮𝗻𝗱 𝘀𝗵𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝘁𝗵𝗼𝘂𝗴𝗵𝘁𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 𝘀𝗲𝗰𝘁𝗶𝗼𝗻 𝗯𝗲𝗹𝗼𝘄! Can iceep's takeback program help your brand gain valuable customer insights, connect with eco-conscious consumers, and minimize your environmental footprint? #circulareconomy #customerloyalty #sustainability #ecommerce Google Startups for Sustainable Development, Microsoft for Startups

Alms seekers iterate on customer feedback more quickly than many brands (whose service I avail). Hear me out. When they came out empty handed asking for money, people were like "Why can't they do something for a living? Can they not go out to work and earn something?" Then they slowly started selling roses, pencils, plastic products and miscellaneous items. Now, they are technically trying to do what was communicated earlier. What do we do with things that we don't want. We can buy it once or twice but not more. They should be doing something useful. - Marginal increase in conversions. Hold my rose, they said. Now they have started cleaning windshields at Traffic Signals. It's something that needs constant service. Well, willingness to pay has significantly gone up. - Higher conversions, longer LTV. I don't know how do they operate, who calls the shots, controls their network and guides them to do these things but they surely are iterating well. In BLR language, they are technically operating in a high TAM business. All this while Customer experience is broken in most consumer brands and services. I recently tried upgrading my plan on a furniture rental platform and they said they don't have an upgrade option - outright declining more revenue 🤥 . . . #startups #businessmodels #marketing #ads #advertisements #customersupport #customerexperience

I don't think we talk enough about the customer experience. What I mean is the feeling customers get when they approach your vending machine or micro-market. Does it signal status and cutting-edge technology? This matters because a subpar experience—a broken machine, expired products—doesn't exactly scream, 'We value you.' I once worked at a high-end tech company with incredible pantry services: protein shakes, boiled eggs, catered meals—all paid for by the employer. It gave everyone a sense of importance—that they mattered. While not every company can offer this level of service, the principle remains the same: Enhancing customer experience is not just about selling products. It's about retaining employees and showing appreciation. That's the difference between a side hustle and building a multi-million dollar operation focused on people. It's time for vendors to step up. #Vending #Innovation #Entrepreneurship #Business #Partnerships #CX

🌏 Unlocking Customer Loyalty in APAC eCommerce: The Power of REVIEWS.io and Influence.io 🚀 With APAC eCommerce booming, building long-term customer loyalty is essential. Brands that embrace reviews and loyalty programs are leading the way. Here’s how REVIEWS.io and Influence.io are helping: 1️⃣ According to Shopify, returning customers spend 67% more than new ones. Verified reviews on Reviews.io are key to turning one-time buyers into repeat, loyal customers by fostering trust and transparency. 2️⃣ Influence.io enables businesses to design loyalty programs that tap into this trend, rewarding repeat customers and driving higher customer lifetime value (CLV). Shopify also reports that increasing CLV is one of the top priorities for 2024. By combining authentic customer reviews with powerful loyalty programs, brands in APAC can boost retention, improve revenue, and stay ahead in this competitive market. Are you leveraging loyalty to grow your brand? #ecommerce #APAC #customerloyalty #shopifystats #socialproof #reviews #loyaltyprograms #growth

📈 Struggling with setting the right price for your startup's products? You're not alone. Many startups miss revenue opportunities or alienate customers due to poor pricing strategies. Our latest edition of MBA For Startups has got you covered!