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BUSINESS MODEL DECONSTRUCTION 12
MGMT20143
Business Model Deconstruction
Student Name:
Nyamdulam Shinebaya
Student ID:
12045022
Tutor:
Jackson, Arthur John
Campus:
Sydney
Executive Summary
To be successful business need to persistently engage in significance conception for the both the stakeholders and the customers. Business model is refe
ed to and used in a multitude of academic, professional and practitioner based studies. This paper identifies the Showpo, online retail store business strategy that is using nine components of Business Model Canvas approach for a specific purpose.
Contents
2Executive Summary
41.
Introduction
42.
Business model
42.1. Building blocks
4a.
Customer Segments
5b.
Key Partners
5c.
Value Proposition
5d.
Key Activities
6e.
Channels
6f.
Revenue Streams
6g.
Cost Structure
6h.
Key Resources
6i.
Customer Relationships
72.2. Inte
elationships
72.3. Critical Success Factors
82.4. Downside Risks
82.5. Business Model Changes
93.
Conclusion
94.
Recommendations
105.
References
126.
Appendix 1
1. Introduction
The Show Pony is one of the international trustworthy and successful online retail store based in Sydney, Australia. The company was launched as ‘Show Pony ‘by owner Jane Lu, initially operating from her parents' garage in 2010. The company opened a
icks and mortar store in Broadway in Sydney in 2011.Showpo had its first million-dollar month with just four staff in 2012. After that, company closed down all
ick and mortar store and only focused on online retailing. The company’s vision is “to be her go to place to shop”. Showpo’s main marketing was social media and they reached 1 million followers in Instagram and shipped their products to more than16 million people. Each year the company is growing and now they have hit a $25 million run rate with 35% of sales occu
ing on international level. Therefore, the business leadership plan is to develop $100 million business by the year 2020 without external funding. Showpo has not only supported thousands of woman microfinance loans and financial literacy training but also raised $100k for charity (Kimmorley, 2016).
2. Business model
The company uses the strong social media marketing in local and global markets.
2.1. Building blocks
The study done is based on Business Model Canvas comprising of nine components to identify success aspects for sustainability of this business and examines the position and progress of the Showpo online retail company in the market (Vial, 2016).
a. Customer Segments
Showpo supports young and plus size woman with clothes and accessories at cheaper prices that advance its ability to retain its customers. The target customers are women under the age of 30. They design the dresses and accessories as per the latest fashion trends, which a customer is looking, such as, designer clothes, outerwear, trendy tops and bottoms, ethnic and trendy accessories. The company offers the most fun, exciting and entertaining shopping experience for the Showpo customer (Kimmorley, 2017).
. Key Partners
Access in instagram, facebook and other third party refe
al websites for Showpo is to develop
and awareness and producing sales traffic. The company uses its own website and page to focus on the customers who are their potential targets by providing different vouchers. Showpo has strong social media marketing and the online advertisements are being shown when people use social media such as YouTube, Instagram and Facebook.
Few companies which use online sale for their products through their websites like Bib+Tuck, Klury.com, Asos marketplace, The RealReal, Shop Hers, Material World, Poshmark, SnobSwap, Threadflip, Walk In My Closet, Threadflip, Tradesy, etc.(Kimmorley, 2016).
c. Value Proposition
“The company while being industry leaders in marketing, data, tech, creative and customer happiness creates shopping as a fun experience (Jane Lu, 2017)”.
· Make customers happy
· Think big
· Have...