NEW VENTURE DEVELOPMENT

NEW VENTURE DEVELOPMENT

TABLE OF CONTENTS
NEW VENTURE DEVELOPMENT...................................................................................................1
Table of Contents.................................................................................................................................2
ASSESSMENT 2..................................................................................................................................3
Introduction..................................................................................................................................3
Different elements of CANVAS model.......................................................................................3
Conclusion............................................................................................................................................7
References............................................................................................................................................8

ASSESSMENT 2
Introduction
This assessment covers detail information regarding the product and services along with
its distribution channel and all other aspects. Furthermore, the assessment also includes different
types of areas such as channels of distribution, streams of revenue, segmentation of customers,
the structure of cost etc.
Different elements of CANVAS model
All elements of CANVAS model are explained as follows-
Customer segmentation-The customer segmentation divides is the procedure to divide overall
buyers groups. The target customer covers basis focus on working professionals and youth.
Basically their need related to less time and hygiene food is considered. Owing to this, product
procedure has been selected accordingly whereby it becomes easy to target the buyers effective
and raise their attention towards products and services which are being offered by 24*7 Coffee
cafe. This proves to be effective for company to increase customer base. Further, perfect
competition market is selected for offering varied range of products and services in the
marketplace (Simoneaux and Stroud, 2011). This shows that customer segmentation is decided
effectively and accordingly competitive edge of the business is created. In addition to this,
business can put efforts to bring innovation in the market so that customers can be retained for
longer time. However, this strategy is adopted by using more suitable pricing strategy and
grabbing attention of buyers towards unique and new services offered by the business. This
reflects that customer segmentation has been decided by using appropriate marketing strategy
along with association of unique concept related to hygiene because obesity related issues are
shifting focus of youth towards hygienic food. It has already been said that all customers are
targeted by the business. Hence, it becomes important to shed light on specific expectations of
buyers and met the same by using appropriate strategy. Thus, segmentation has been done by
focusing customer needs and type of market under which business will be operate.
Value proposition- There are several coffee shops in London but no specific focus is given for
hygiene and varied products and services in accordance with customers. However, the present
24*7 Coffee cafe is offering bulk of benefits together. For this purpose, features of current
business are additional facilities such as Wi-fi and calm environment which grab attention of