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Business Model Assignment Solution

   

Added on  2021-04-17

13 Pages2531 Words45 Views
Business Model

Table of ContentsDescription of Industry2The Products/Service2Describe the Industry- Business Model Canvas3Key Relationship among the Nine Building Blocks (Interlink)4SWOT Analysis on each of the Nine Building Blocks6Critical Success Factors7Downside risks8Suggested Improvements on the BM-Critical Thinking8Conclusion9References10

Introduction of Jet.com Company Jet.com, an American e-commerce company is headquartered in New Jersey. Thecompany was founded in 2014 by Marc Lore with Nate Faust and Mike Hanrahan. Theentrepreneur old diapers on Amazon. The consumers who are into sports, fitness, homedecoration and maybe housewives or working professionals are targeted due to the wideavailability of products. Moreover, it targets the sellers who are willing to partner with the firmassuring sales visibility (Gamble & Thompson, 2014).Description of Industry Jet.com is an American e-commerce company that got all essentials in one place. Jet.combelongs to the e-commerce industry that involves online buying and selling of products andservices. They offer a large selection of products at low prices and great discounts.The Products/Service Jet.com sells different categories of products involving grocery, health and beauty, homedécor, furniture, fitness products, electronics and gaming. The organization targets all age groupsfrom kids to old age. There are a lot of options available for the customers at low prices. Jet.comoffers free shipping over $35 and delivers within two days. Jet.com has customer service reps,the Jet Heads who provide 24-hour assistance. Describe the Industry- Business Model Canvas According to Alexander Osterwalder’s business model generation canvas, everyorganization’s business model can be explained using the below 9 building blocks:

1.Customer Segments- The customer segment building block defines the different groupsof people that may be served by the company. Jet.com targets the middle and upper classconsumers who got experience in the basic technology and do not have time to shop fromphysical outlets (Wirtz, Pistoia, Ullrich, & Göttel, 2016).2.Value Propositions- The value proposition building block defines the bundle of productsand services that is offered to the consumers (Calvo-Mora, Navarro-García, & Periañez-Cristobal, 2015). Jet.com offers value proposition as an anti-single unit marketplace byluring consumers to purchase multiple items at once by discounting prices. Jet prioritizesprice rather than balancing selection, price and convenience following the price-firstapproach (Rosemann & vom Brocke, 2015). 3.Channels- The channel is defined as the medium through which value proposition isdelivered to the customers. The products at Jet are distributed through online distributionthrough internet. The customers are encouraged on social media and other onlinechannels to purchase products from Jet.com (Rahman, Yaacob, & Radzi, 2015).4.Customer Relationships- This block refers to the type of relationships of the companyestablished with the company. Jet.com mainly uses the pricing strategy for maintainingrelationship with customers. For the customers paying online, Jet.com offers savings andfree returns when purchasing multiple items.5.Revenue Streams- This block represents the revenue chain from the value propositionsoffered to the customers. Jet.com operates using “Smart Cart dynamic-pricing model”,they waive the return and refund where there is no lost payment gateway charges. AsJet.com encourages the customers to purchase products in bulk where delivery chargesare saved in a single shipment (Baldassarre, Calabretta, Bocken, & Jaskiewicz, 2017).

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