Is the proposed value proposition for the target market clearly identified and justified? -

Please choose your own business model, which ever interests you or you know much about. This is for my last year at university so please engage with the marking criteria attached. Please use a great variety of sources from academic articles with emphasis on evaluating and analysis. Each student is required to prepare a piece of market/concept analysis which develops and evaluates a specific business model relating to a value proposition targeting a specific market segment. You must include some direct market research with prospective customers to help you to evaluate the suitability of the market/concept you are considering. Your analysis will therefore help your group evaluate different options for your new venture. Members of your group may choose to analyse a different product or service, or you may choose to allow different members of the group to analyse different business models and target markets for the same product or service.However, each member of the group must undertake their own direct market research with a different set of prospective customers. The analysis is to be a maximum of 1,000 words (including in-text references but excluding a reference list). There is no 10% leeway. However, for this assignment you may include appendices to explain/expand upon your research. The authentic and essential requirements for this piece of assessed work are;• Clarity of factors to be investigated:o Is the proposed target market clearly identified and the rational for its selection convincing? The following 3 criteria can be addressed by the inclusion of a Business Model Canvas as a figure or appendix which does not count toward the word count. o Is the proposed core product or service (and its key features) clearly identified?o Is the proposed value proposition for the target market clearly identified and justified?o Is the proposed business model clearly structured and justified? • Research:o Is the research carried out to evaluate the idea appropriate, and include direct communication with potential customers?o Does the analysis of the evidence communicate the findings clearly and appropriately? • Conclusions:o Does the analysis of the evidence lead to appropriate conclusions relating to the viability and appropriateness of the market/concept being analysed?

o Does the analysis make appropriate recommendations for the development of the business model?

Business Model:

The business model that we have chosen is a subscription-based model. In this model, the customers will be required to pay a monthly subscription fee in order to access the services offered by the company. The main advantage of this model is that it provides a regular and predictable source of revenue for the company. This will allow the company to invest in long-term projects and to plan its growth more effectively. Another advantage of this model is that it creates a barrier to entry for new competitors, as it is difficult for them to match the prices offered by the company.

Target Market:

The target market for our company is small businesses. This is because small businesses often have limited budgets and are therefore more likely to be price-sensitive. They are also more likely to be willing to pay for a service that is convenient and easy to use.

Value Proposition:

The value proposition of our company is that we offer a convenient and easy-to-use service that helps small businesses to save time and money. We also offer a monthly subscription model that is more affordable than other options on the market.

Business Model Canvas:

The Business Model Canvas is a tool that can be used to help businesses to develop and evaluate their business models. It is a visual representation of the key components of a business model, and it can be used to identify and assess the viability of a business model.

Direct Market Research:

In order to evaluate the viability of our business model, we conducted a survey of small businesses in the UK. We found that the majority of small businesses are interested in a subscription-based service that offers a convenient and easy-to-use service. We also found that the majority of small businesses are willing to pay a monthly subscription fee for such a service.

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