University Report: Business Model Canvas of Nura Headphones

This report provides a comprehensive analysis of Nura Headphones' business model canvas. It begins with an executive summary and an overview of the Australian company, highlighting its focus on customized headphones. The report then delves into the nine building blocks of the business model canvas, including key partners, activities, value propositions, customer relationships, customer segments, key resources, channels, cost structure, and revenue streams, discussing the interrelationships between them. The critical success factors of Nura Headphones, such as customer satisfaction and a passionate team, are examined, along with the risks the company faces, including training costs and communication challenges. The report concludes with recommendations for improving the business model, such as expanding partnerships and enhancing customer relationships. The analysis is supported by references to relevant academic research.

Running head: BUSINESS MODEL CANVAS OF NURU HEADPHONES
BUSINESS MODEL CANVAS OF NURU HEADPHONES
Name of the Student
Name of the University
Author Note

1BUSINESS MODEL CANVAS OF NURA HEADPHONES
Executive Summary
This report is based on the analysis of an organization named Nura Headphones which
provides customized headphones to the various customers. The organization is of Australian
origin and provides the products and services to the users of Australia. The business model
canvas of the organization is analysed in the report and the relationship between the nine
blocks or aspects of business are discussed. The critical success factors of the company are
analysed and the ways of operating are discussed. The risks that are faced or will be faced in
the future by the company are also analysed in the report.

2BUSINESS MODEL CANVAS OF NURA HEADPHONES
Table of Contents
About Nura Headphones................................................................................................3
Business model canvas of Nura Headphones.................................................................3
Key relationships between the nine building blocks of Business Model Canvas..........4
Critical success factors of Nura Headphones.................................................................5
Risks related to operations of Nura Headphones in the industry...................................6
Recommended changes in the business model of Nura Headphones............................7
References......................................................................................................................8

3BUSINESS MODEL CANVAS OF NURA HEADPHONES
About Nura Headphones
Nura Headphones is an Australian organization which was established in the year
2015 by Luke Campbell, Kyle Slater and Dragan Petrovik. The company mainly provides
customised headphones to its customers which help in providing sound clarity levels which
are perfect for the individual users. The designs of the products provided by the organization
are finalised by the music lovers who have expertise in acoustics, engineering, hearing
science and biology. The listeners are able to find the perfect sound with the help of the
various features that are provided by the headphone (Our Team., 2018). The organization
became successful in the market within a short span of time. The app of Nura headphones
creates unique profiles which represent the ways of hearing of the customers. The profile
contains all relevant information about the style of hearing of the users. The sounds are
created based on the sensitivity of the users to the various tones. The unique hearing levels of
the users are detected with the help of the technology that is provided in the app of Nura
Headphones. The hearing profiles of the various individuals help in determining the colour or
the preferences of the various users (Breuer & Lüdeke-Freund, 2017). The business model
canvas of the organization will be analysed in the report.
Business model canvas of Nura Headphones
Key Partners
 The
efficient
and
passionate
team of
music
lovers or
founders.
 The
providers of
technology.
 The
passionate
Key Activities
 Promotional
activities
performed
with the help
of their
websites.
 Increasing
tie-ups with
organizations
.
 Providing
customized
hearing
Value Proposition
 Providing
high levels of
customer
satisfaction.
 Providing
consistent
services to
the users
based on
their hearing
sensitivity.
 Creating an
effective
Customer
Relationships
 Social
media
communica
tion with
customers.
 Advertising
with the
help of
various
mediums
like, events,
media and
Customer
Segments
 The music
lovers who
wish to use
headphones
which are
effective
and
customized
according
to their
preferences.

4BUSINESS MODEL CANVAS OF NURA HEADPHONES
group of
scientists,
creatives
and
engineers
who form
the
managemen
t team of
Nura
Headphone
s
(Carayannis
, Sindakis
& Walter,
2015).
services to
the users
according to
their hearing
preferences.
team in the
organization.
 High
technology
related
services
provided to
the
customers.
many more.
 Creating
relationship
with the
customers
with the
help of
feedback
services
provided in
the website.
Key Resources
 The highly
effective and
passionate
management
team of the
company
who love
their work.
 The
availability
of high
technologies
in the app of
the company
which
customizes
the sound
clarity of the
headphones
(do Rosário
Cabrita et al.,
2016).
Channels
 Presence of
the
company
on the web.
 Advertisem
ents done
with the
help of TV
and other
media.
 Distribution
of the
services
(Güemes-
Castorena
& Toro,
2015).
Cost Structure
 Costs related to the payment made to the staffs and
the other members of the management.
 Costs related to the formation of the high end app of
Nura Headphones.
 Costs related to the shipping of products.
 Taxes paid to the government (Lüdeke-Freund &
Dembek, 2017).
Revenue Streams
 Sales of the products.
 Finances received from the banks and
government institutions.
Key relationships between the nine building blocks of Business Model Canvas
The nine building blocks of the company are related to each other as each of the
building blocks helps in the fulfilment of the duties related to the other blocks. The partners

5BUSINESS MODEL CANVAS OF NURA HEADPHONES
of Nura Headphones help the company in providing services to the various customers. The
promotional activities of the organization help them in creating a different position in the
technology industry. The technological capabilities of the company enable Nura Headphones
in providing the best services to the users according to their listening preferences. The
founder of the organization and his team act as major resources of Nura Headphones and the
ways by which it customizes the products. The dynamic nature of the founders of Nura
Headphones has helped the company in gaining more customers and expanding the business
operations as well (Luft et al., 2016). Luke Campbell, the founder of the company has been
the main face behind the incredible success of Nura Headphones in the industry within a
short span of time. The different services provided by the company increases the customer
segment in the industry. The music lovers are concerned about the experience that is provided
to them by the headphones that they purchase and the fact that the sound clarity needs to bed
according to their preferences. Nura Headphones has been able to cater to these needs of the
various music lovers in Australia (Massa, Tucci & Afuah, 2016). The usage of innovative
methods has enabled Nura Headphones in differentiating its products from the other
organizations. The cost structure of the company is quite low as it operates in the market with
the help of the website. This leads to huge levels of investment advertising of the services in
the market. The revenues of Nura Headphones are also dependent on the customers. The
reviews provided by the customers on the website of the company are helpful in advertising
their products. The value propositions of the organization deal with providing best service to
the customers according to their hearing sensitivity. The employees or management team are
a part of the organizational processes and this encourages them in their work process (Ng,
2017).

6BUSINESS MODEL CANVAS OF NURA HEADPHONES
Critical success factors of Nura Headphones
The most important factor related to the success of Nura Headphones is the customer
satisfaction that is provided to the clients. The consistency of their services have helped the
company in acquiring a profitable position in the industry. The team of the employees are the
passionate music lovers who aim to provide the best possible sound clarity to the users so that
they enjoy the music to the fullest. The passionate team of the music lovers, engineers,
creatives provide the best technology to the users or the customers. The work environment
created within the organization is positive in nature and helps in the enhancement of services
(Pyo & Ha, 2015). The success of the organization is not only defined by their sales, the
satisfaction levels of the employees and the customers also play a major role in the fast
success of the company in the industry. The management believes that the satisfaction of the
employees and of the customers is interlinked with each other. The founders of the
organization and their attitude towards work is another reason behind fast success of Nura
Headphones. The success of the organization has not stopped them from improving the work
operations in the organization. The app of Nura Headphones is creative in nature and
provides the best after sales services to the customers (Ng, 2017). The major customers of the
company include, the users who are mainly concerned about the high quality of music and the
unique capabilities if hearing. The huge client base of the organization has been developed
with the help of the high skilled team of employees. The organization provides its services to
the music lovers and users in Australia. The 24/7 support provided by the app to the users has
helped in customer retention (Salgado et al., 2014). The organization also provides a
personalised user profiles for taking care of the needs of the individual users. The headphones
are designed in such a manner so that they can cater to the individual needs of the users. This
helps the organization in creating a competitive position in the market as compared to the
other organizations.

7BUSINESS MODEL CANVAS OF NURA HEADPHONES
Risks related to operations of Nura Headphones in the industry
The training related costs of the company is a major issue in their operations and it
affects the revenues of Nura Headphones. However, adequate training is important for the
services to be provided by the company to their users. The services provided to the users with
the help of their app are also important for the customizing the headphones based on user
preferences. The employees are the base of a service oriented organization. The costs related
to recruitment and training of the employees is therefore quite high for a company like Nura
Headphones. The unique concept and product quality of the organization is a major issue
which can cause the lack of adequate and suitable employees (Taran et al., 2015). This can
act as a major problem in the revenues of the company in the future. Lack of effective
communication in the organization can lead serious issues in the future for Nura Headphones.
The lack of processes and systems that help in providing quality services and delivering
promises to the customers can act an issue for the revenues of Nura Headphones in the
market.
Recommended changes in the business model of Nura Headphones
The partnerships of the company need to be increased so that the customer base of
Nura Headphones can increase. The value propositions of the company can be improved so
that Nura Headphones can provide high quality services and increase customer satisfaction.
The customer relationships can be improved by maintaining personal email communications
with the clients. The organization can increase its resources and provide effective and
consistent services to the customers. Nura Headphones needs to improve its channels and
expand its business operations so that they can increase their revenues in the industry. The
music industry is growing and this can be used as an opportunity by the Nura Headphones by
providing them with the best sound quality of music. The employees need to be provided
with more facilities so that the turnover rate can be decreased. This will further reduce the

8BUSINESS MODEL CANVAS OF NURA HEADPHONES
training and recruitment related costs of the company. These minor changes in the business
model can improve the position of Nura Headphones in the industry and help then in creating
a competitive position as well.

9BUSINESS MODEL CANVAS OF NURA HEADPHONES
References
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innovation. International Journal of Innovation Management, 21(03), 1750028.
Carayannis, E. G., Sindakis, S., & Walter, C. (2015). Business model innovation as lever of
organizational sustainability. The Journal of Technology Transfer, 40(1), 85-104.
do Rosário Cabrita, M., Duarte, S., Carvalho, H., & Cruz-Machado, V. (2016). Integration of
Lean, Agile, Resilient and Green Paradigms in a Business Model Perspective:
Theoretical Foundations. IFAC-PapersOnLine, 49(12), 1306-1311.
Güemes-Castorena, D., & Toro, M. A. (2015, August). Methodology for the integration of
Business Model Canvas and technological road map. In Management of Engineering
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Lüdeke-Freund, F., & Dembek, K. (2017). Sustainable business model research and practice:
Emerging field or passing fancy?. Journal of Cleaner Production, 168, 1668-1678.
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Model Canvas for iDecide-How to Design a New Decision Making App?. In 14th
International Design Conference.
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research. Academy of Management Annals, annals-2014.
Ng, H. Y. (2017, December). Categorization of business model patterns and mapping of their
relations with business model building blocks. In Industrial Engineering and

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https://www.nuraphone.com/pages/our-team
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