First Four Elements of a Business Model (Columbia Records)

 Choose a company or unit of a larger conglomerate — From the choices below: Electronic Arts: choose a gaming franchise (Battlefield, any of the EA Madden sports games, Need for Speed, etc.) Analyze the game, not EA itself. Sea World theme park CBS Network Def Jam Records Columbia Records Pixar An NBA team, such as the Chicago Bulls, Orlando Magic, LA Lakers, etc. A national-class soccer team Snapchat Suggestion: Choose a company from an industry that interests you as a career area from the list. Use this assignment to learn more about how that industry works. Do research; don’t assume that just because you may use a product you understand it as a business. REVIEW the text book and slides for the concepts applying to the first four elements. Research the product line or company and decide what applies to each element. See Example of a completed assignment 1 in References for the course on the FSO platform TWO PART ASSIGNMENT – FIRST FOUR ELEMENTS: Value Proposition, Customer Segments, Channels of Distribution, Customer Relationships 1. Part I; Canvas Outline A. Business Model Canvas outline: Download the canvas outline spreadsheet template to use to list the items for each element in short bullet points – Customer segments, Value Proposition, Distribution Channels, Customer Relationships (Type in the blocks). Be specific. The bullets are now your points of reference to develop the narrative about each item. NOTE: ONLY do the first four elements on the canvas outline. 2. Part 2: Narrative paper: A. — Background Information Write a narrative covering the following items in about 200 – 250 words total: Why did you choose this company? How does it fit with your career goals? — Background of the Company; include information about these items – Parent conglomerate, if applicable, how the product ‘fits’ within the larger company – What is the main product line(s) of the company – Division of the company that produced the product – Value of the franchise – sales, revenues, units sold, company valuation – Other similar product lines by the company? – Brief history of the company or product line – previous versions, problems, successes B. First Four Elements: In narrative format, expand on the information about each ‘element’ by stating the bullet point, then writing several sentences that expand on the point with specifics and facts. Use a header in bold before each section on the first four elements (Customer Segments, Value Proposition, Channels and Customer Relationships). — Then list (as subheads) each bullet point from the canvas and expand on that point with facts, specifics and details. Cite sources for facts in short form in the paper. Customer Segments Who are the target customers and what ‘problem’ does the product solve for them. Consider interests and demographics. For example, ESPN customers include both viewers (what are their demographics) and paying advertisers. Value Proposition (defining the brand) What value is the product or service providing the target customers? What makes it a unique brand and differentiates it from similar companies? Define in one overall sentence what makes the company/product unique from competitors. Expand on that. Consider: What products or services are being delivered to each customer segment – what are the product lines? What needs, desires or wants are being met? Is there a slogan that defines the company or product? Channels (distribution) Through what channels are the various customer segments reached? If an ‘experience’ where do they experience the entire product (the game, the theme park) If a product, how do they access it or purchase it? Customer Relationships How does the company keep the fans or customers happy? What does the company do to bond with fans? What does the company do online? 3. References — Have at least six sources for information (more is preferable). You are researching a company, its parent and a product line – and potentially its competitors. At least two of the sources, (more is preferable) should come from articles found in the Full Sail Library databases. (note which database in the final list.) — In text citing: Be sure to cite references in short form (Osterwalder 2011) in the narrative of the paper itself — at the end of the paragraph where the facts/specifics were used, or at the end of a sentence. Quotes and direct ‘lifts’ off websites should be in quotation marks. (Using facts/ quotes without sources can be considered plagiarism. ) References Full APA format: List the full sources in APA format at the end of the paper.