RESPONSE 3-1 Discussion: Business Model Canvas 400 (GR)

Question Description

I’m working on a business discussion question and need an explanation and answer to help me learn.

In your response to DBR3-1 (GR), address the following:

Provide at least one specific idea or recommendation to help them address the problem areas in their model.

Share any suggestions or tips that you found helpful when researching or working on your business idea.

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DBR3-1 (GR)
The aspect of the business model canvas that I believe I can complete right away is customer
relationships. õstomer Relationships is defined as how a business interacts with its customers.¨Ebinum, 2022) The customers that I want to attract to our new service are the customers that have
already purchased our machines. My business proposition is to create a new monthly subscription
service for the Caterpillar machines that we have sold to our customers. This means that our interaction
is simply the additional upsell at purchase for our monthly subscription to help with all needs in
maintaining and repairing Caterpillar machines. The rest of our customer relationships will remain
constant.
The aspect of the business model that I believe we will need to work a large amount on is key activities.
(e Key Activities of your business/product are the actions that your business undertakes to achieve
the value proposition for your customers.(Ebinum, 2022) To offer this new service to our customers we
will need to create an entire new repair division. This is going to require hiring technicians and establish
an entirely new logistic structure.
I don think I had considered all key partners before this discussion. This may cause a rift with
dealerships who already extend this sort of service to Caterpillar customers . We may need to partner
with these dealerships or offer the service through them in order to continue to have favorable relations
with our current dealers.
Ebinum, O. (2022, October 28). How to: Business model canvas explained. Medium. Retrieved
November 7, 2022, from https://medium.com/seed-digital/how-to-business-model-canvas-explainedad3676b6fe4a

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