4alltravel App: Business Model Canvas - Iteration and Reflection

This document presents a student's business model canvas (BMC) project for the 4alltravel application, designed to streamline travel bookings. The project details three iterations of the BMC, starting with the initial idea, progressing through changes after a pitch, and culminating in a final refined version. Each iteration includes key components like key partners, cost structures, value propositions, customer segments, revenue models, and reflections on the business idea's history, assumptions, and the effectiveness of an action learning set. The project highlights the app's features, target audience, and strategies for customer acquisition, revenue generation, and market adaptation, demonstrating a comprehensive understanding of the business model canvas framework and its practical application in a real-world scenario.

Creating a Winning Business
Project 2 Workbook:
Business Model Canvas - Iteration and Reflection
Student Id: [type here]
Lecturer: [type here]
Submission Date: [type here]
NOTES
1. You should stick to one page for each of the parts. To achieve this, you may reduce the font size if needed (no smaller then 8) and you can delete the
guidance words in italics
2. Make full use of the Guide questions in italics in the Workbook
3. For Versions 2 and 3 of your BMCs – you ONLY need to show the changes from the previous version
In the box below, please explain in simple terms, your business idea. Maximum of 100 words
Page 1
The business idea is launching 4alltravel application. It is found that due to covid-19 and strict guidelines of pandemic, people became
bound to be at their home for 2 years. For making themselves refreshed, they are trying to find an escape and for making bookings for
hotels and flight tickets, people visit an average 32 websites. 4alltravel application can solve problem of people that they face while making
booking as they visit number of websites. But with this app, they can make the best deal. This application gives notifications and people can
find easier in knowing the best price for flights and accommodation and can enjoy their journey.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Cost Related Revenue Related
Key Partners
 Travel planner
 Drivers
 Investor
 Customers
 payment processors and
map API providers will be
main stakeholders of this
new business.
Application developer and
software specialist will be suppliers
for this business.
Some activities that would be
played by stakeholders in order to
make this business idea successful
include: promoting application,
making people aware about this
application, review feedbacks,
financing and customers’ need
identification.
Key Activities
There is need to perform key
activities with the main aim of
delivering value to customers.
Some key activities include:
 App development and
enhancement.
 Sales promotion in order
to acquire customers.
 Management of drivers’
pay-out
 Clear communication with
customers as well as
partners.
 Customers’ acquisition
and marketing
 Hiring experienced drivers
Value Propositions
As the business idea is to develop
4alltravel app with the main aim of
making customers’ beneficial and
saving their time of booking
accommodation and other
services. Values that it will provide
to app developers and drivers
include:
 Opportunity to earn and
make profit.
 Ease to access number of
passengers
 Flexibility in choosing
working hours
Values that this idea will provide to
riders include:
 Security and safety
 Cashless ride
 Easier transaction
 Lower prices than normal
prices of booking
Marketing & Sales
Communication
Social media will be used to make
people aware about this business
idea and 4travel app by which they
can make bookings as per their
needs.
Customer support is considered as
one of the main source and ways
by which they can be satisfied and
communicated in an effective
manner.
Review, rating and feedbacks
solution can also be the best ways
of communication and marketing
of business idea with customers.
Customer Segments
General people who loves to travel
and often make their hotel and
travelling booking via mobile apps,
will be our customers.
People who want to travel in
luxury.
Software development will also be
our customers
Key Resources
For performing all discussed
activities for this new business
idea, there will be requirement of
internet network
 Digital social media
platform
 Software developers
 Customer service
providers
 Technology talent
 Brand image creator
Product & Service Delivery
Channels
Website
For android users, there will be
requirement of mobile app
Social media
Media coverage
Cost Structure Revenue Related
Page 2

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Customer acquisition cost
 Legal cost required for taking advise for application development
 Insurance cost
 Research and development
 Software instalment
 Application development cost
 Content development
 Platform maintenance
 Marketing expenses
 Surge price
 License fee
 Membership fee
 Reviewers fee
 Page visitors
End of page 2
Page 3

Business Model Canvas Version 1: Reflection (Maximum 400 words for the page)
Explain the history behind your idea:
From market analysis, I came to know that people are trying to go for holidays.
They have spent almost 2 years at their home and in their local city due to covid-
19. From general conversation with people regarding travelling and process that
they follow for bookings, I came to know that they visit at least 20-32 websites.
After covid-19, some people are taking undue advantages of this online market as
they are launching apps and fake websites and attracting customers for booking.
Customers find difficulties in identifying reliable websites and applications from
which they can make their accommodation and travel booking. It takes their time
and make them frustrated. So, for helping out people as well as earning money, I
have thought about this idea.
Also, I believe that with the help of this idea, I can protect people from fraud and it
can increase awareness among them.
Reflection: What do you understand by the term ‘reflection’? What is an ‘action
learning set’ and why might it be more effective than individual reflection?
Type here:
In regard to reflection, I can say that it is the best way to analyse and evaluate any
event and memory as well. In reflection, we can see our image as what we are and
with reflective writing, we can analyse our experience with the main aim of
identifying strengths and weaknesses as well.
In regard to an action learning set, I can set that it is refers a group of people within
a workplace who meet and work with the main common aim of solving workplace
problems. It is more effective than individual reflection because in action learning,
people work altogether collaboratively. They all use their strengths but in individual
reflection, we cannot complete tasks if we have number of weaknesses. But as per
the action learning, we can complete tasks in a timely and effective manner
because we have support of all other people. So, on the basis of this, I can say that
team working and action learning set is much effective than individual reflection.
Assumptions: What are the main assumptions behind your business idea? How
could you test those assumptions?
Type here:
I made assumption that I can increase sales by 200% in second year of developing
this business.
I made assumption that with the help of this business idea, I can become the
market leader and can get customers’ base to the great extent.
I believe that these assumptions can be right or as certain to happen but for
making it real, I need to strive hard and focus on satisfying customers’ needs.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
End of page 3
Page 5

Business Model Canvas Version 2: After the Pitch (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
As some key partners have
mentioned above who can help
out in developing this business
idea and making this business
successful.
Some key partners that have
added in this version include:
 Hotels
 Food delivery platform
 Search engines
 Content developers
 Travel agents
Key Activities
 Customer’ relation
management
 Promotion
 Guide customer journey
 Increase value proposition
and promotional activities
All these added activities in this
new version can make able to app
launcher in increasing awareness
among people and influencing
them for buying its services.
Value Propositions
Some changed and added value
that this business idea and new
app can provide to travellers
include:
 Better travel planning
 Risk reduction
 Collection of useful travel
content
 Application as travel
companion
 Candid review for better
decision making
 Improving experience at
cheapest price
Marketing & Sales
Communication
Improving customers’ relation is
one of the main key of success of
business and for becoming
successful, some changes have
done in communication channels
such as:
Trustworthy review to customers
is the best way of communicating
and improving relations with
them.
Commission
Social media platform as a mode of
clear communication.
Customer Segments
Customers will be targeted on
some relevant basis such as:
Geodemographic
Behavioural and demographic
Under these segments, those
people will be targeted who are
above 18 years, professionals who
often go outside for business
purpose. People of middle and
high income.
For hotels about which
information to customers will be
given include:
 Star and user rating
 Best property type
 Affordable
 Proximity
 Type of infrastructure
Key Resources
Some resources that have added in
this version with the main aim of
making this business idea
successful and completing all
important tasks include:
 Websites and apps
 Users’ experience
 Global network
 Users’ data
 Deep inventory
Product & Service Delivery
Channels
Some channels have also been
added in this new version with the
main aim of providing services to
customers in a timely and effective
manner such as:
 Direct e-mails to users
 Ad channels in TV
 Subsidiaries
Cost Structure
There will be requirement of high investment and overall operational and capitalised cost
for launching this app and business idea will be:
Sales and marketing: approximate $700m
Tech and content: Approximate $230m
Revenue Related
Revenue that will be generated highly include: click based advertising and transaction
revenue: approximate $700m
Display based advertising: $280m
Other revenue: $140m

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Tax and G&A: approximate $ 140m
Capitalised cost
Assets (property and equipment): Approximate $250m
Goodwill: approximate $730
Intangible asset: approximate $165m
End of page 4
Page 7

Business Model Canvas Version 2: Reflection (Maximum 400 words for the page)
Development of pitch: In regard to this, I can say that I took help of successful app
launchers in order to know their techniques of attracting people. For making pitch
effective, I made use of keywords and main business idea in summarise form. The
main aim of developing this pitch was making people aware about business idea
and its effectiveness. I believe that my communication skill helped me out in
delivering pitch in a successful manner. Communication and presentation skills play
a vital role in increasing interest of people and delivering presentation with
effectiveness.
Assumption Testing: The assumption has been tested within analysing the response
of the customers. While analysing market it has been found that customer does not
like to stick over the same type of services for a long period of time they seek for
changes and when they do not find any kind of change then they shift over different
services. Therefore, in the next version, the business Canvas model has been updated
on the basis of the requirements of the customers so, the customer can become
satisfied. The key partners have been changed which now in this version includes
hotels, food delivery platform, search engines, content developers and the travel
agents. Also, the key activities in this version was completely entitled with focusing
over the customer satisfaction so the customers can become highly satisfied. In the
value proposition the focus has been made over improving experience at the
cheapest price. The focus is being made over the customer experience.
Comment on your Action Learning Set: The advice that has been proven beneficial
for me was that taking action after analysing the current market situation as it helps
on taking proper and correct action. Coordination among the group members has
been proven effective and effective interaction among the group members can be
implemented in terms of establishing effective communication among group
members.

Business Model Canvas Version 3:
End of page 5
Page 9

Business Model Canvas Version 3: Final Refined Version (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
As major key partners have been
mentioned above that can help
effectively in enhancing the
business from all aspects.
However, key partners must be
monitored and added in
accordance with the time
therefore, other key partners that
are being included in this version
are-
 Influencers
 Restaurants association
 New suppliers
 Business consultants
 Hotels that provides
holiday packages.
Key Activities
 Customer feedback
system.
 Ratings on social media
 Mapping the customer
journey path.
 Allowing discounts to the
regular customers.
 Reviewing the feedback of
customers and taking
actions.
All of the mentioned above
activities are the key activities that
has been added after the last
version on the basis of knowing
and analysing the market. These
activities help in approaching the
customers.
Value Propositions
The major new added value which
helps in adding effectiveness in the
business idea and enhancing the
satisfaction level of customers
includes-
 Easy booking over app
 Luxurious experience
 Well-trained agents will
be provided
 Quick service
 Quick responding.
Marketing & Sales
Communication
The offline modes of promotion
will be preferred that includes
public relation camps. With the
help of this direct interaction can
be created with the customers and
their queries can be solved within
making face to face interaction.
Also, the awareness in relation of
the new benefits that business
provides to customers can be
communicated.
Customer Segments
In this version business
organizations have been targeted
as customers. As business
organization provides holiday
packages to their employees and
also conduct business travel tour.
Therefore, those business
organizations will be approached
and bookings will be made with
them and the travelling has been
mapped.
Key Resources
The major resources that are
required for performing the
selected key activities in business
that ensures higher benefits to the
business. Thus, the key resources
are-
 Professionalised team
 Internal communication
tem
 Financial resource
 Digital resource
 Communication resources
Product & Service Delivery
Channels
The new mode of channel has
been added in this version that will
influence the customer satisfaction
in effective manner which leads to
attract the number of customers
towards the business. The new
added product and service delivery
channel includes:
 Text message to
customers.
 Making contact with
customers.
 Making official website.

Business Model Canvas Version 3:
Cost Structure
In this version the cost has been increased in order to assure the high class service to the
customers. The high amount of investment is required in order to cover the over-all
operational and other cost which lead to launch app and business idea which involves-
 Digital cost- $500m
 Tax- $150m
 Campaign cost- $200m
 Business consultancy cost- $300m
 Physical resources - $300m
 Approaching professionals- $500m
Revenue Related
Revenue that will be developed will mainly include the major aspects that involves:
Online revenues- $800m
Bookings revenue- $500m
End of page 6
Page 11

Business Model Canvas Version 3: Reflection (Maximum 400 words for the page)
Iterative Journey: In this version the idea has been changed within creating keen
focus from both aspects whether it is from customer aspect and from business
aspect. The assumptions have been changed within including the other business
organization in the customer segment. The evidence that has been witnessed was
that customers are highly active over social media and they get easily influence
with the influencers. Therefore, in this version influencer has been involved as the
key partners. At the start of the module I was not aware that business
organizations often plan trips and tour and approach the tourism companies which
help them to map and guide in their journey and when I analyse the market I got to
know this and just afterwards in this version I have added business organization in
the customer segment.
Competitor Insight: Direct competitor refers to those competitors who provides
same kind of products and services whereas indirect competitor has been
determined as those competitors that provides substitute and similar products. The
direct competitors of the business are other travelling app that assures same kind
of services to the customers as they are offering same type of services at digital
platform. The indirect competitors are other tourism company as they assure
similar services to customers. The major learning that has been made in this
context is that it is important to provide focus over direct and indirect competitors
in keen way. However, the special focus in need to be made over the direct
competitors so, the appropriate action can be taken. The services that has been
provides by my business to customer is assuring effective satisfaction in cheap price
and this leads to differentiate it from the competitors.
Cost & Risks: The biggest risk and obstacles that comes in the project are related to
the funding or change of the taste of the customers this can leads to create the
biggest hurdles as when the funding is not available then many of the task cannot
be performed in effective manner. Also, when the taste and preference of the
customer has been changed then it leads to create the issues. This issues can be
overcome within implementing effective planning. Investors and debentures is
being approached for the venture that act as source of funding and assure funding
to business.