Nura Headphones: Business Model Canvas Report - University Assignment

This report provides a detailed analysis of the business model canvas of Nura Headphones, an Australian consumer electronics company known for its personalized sound headphones. The analysis deconstructs the company's operations across the nine building blocks of the canvas, including customer segments (music lovers), key partners (employees, technology providers), value propositions (premium quality, personalized sound), key activities (advertising, promotional activities), channels (online platforms, television), revenue streams (sales, financial support), cost structure (employee compensation, app costs), key resources (employees, technologies), and customer relationships (communication, social media). The report examines the interrelationships between these building blocks, critical success factors, potential downside risks (employee training, high costs), and possible business model changes. Recommendations include implementing employee training programs and enhancing promotional activities. The report concludes that the company's growth and technological innovations are key to its success in the industry.

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

1BUSINESS MODEL CANVAS OF NURA HEADPHONES
Executive Summary
The report is mainly based on the detailed analysis of business model canvas of an innovative
Australian organization named Nura Headphones. Various aspects of the operations of Nura
Headphones are examined in a detailed manner with respect to the building blocks of the
canvas. The coordination levels between various building blocks of the canvas have also been
analysed in the report in detail. The recommendations that are offered to Nura Headphones
for enhancement of its operations in the future are as follows,
 Development of the appropriate training based programs.
 Formation of the advertisement and promotional activities for the purpose of
attracting the customers.

2BUSINESS MODEL CANVAS OF NURA HEADPHONES
Table of Contents
I. Introduction.................................................................................................................3
II. Business model..........................................................................................................3
A. Building blocks.....................................................................................................4
1. Customer segments............................................................................................4
2. Key partners.......................................................................................................4
3. Value proposition...............................................................................................4
4. Key activities......................................................................................................5
5. Channels.............................................................................................................5
6. Revenue streams.................................................................................................5
7. Cost structure.....................................................................................................5
8. Key resources.....................................................................................................6
9. Customer relationships.......................................................................................6
B. Interrelationships...................................................................................................6
C. Critical success factors..........................................................................................6
D. Downside risks......................................................................................................7
E. Business model changes........................................................................................7
III. Conclusion................................................................................................................7
IV. Recommendations....................................................................................................8
References......................................................................................................................9
Appendix 1 – Table 1 - Business model canvas of Nura Headphones........................11

3BUSINESS MODEL CANVAS OF NURA HEADPHONES
I. Introduction
Nura Headphones is a consumer electronics organization that had started its
operations in Melbourne, Australia. The company mainly manufactures and designs
headphones that have the ability to provide personalized sound based on the hearing
capacities of consumers. This is considered to be a proprietary technology which is mainly
developed by the firm for the purpose of understanding the hearing related sensitivities of
users with respect to the listening based capabilities at various frequencies (Nuraphone.com.
2019). Emissions that are mainly provided by various sound based technologies are also
monitored by headphones that manufactured by Nura Headphones. The report will be mainly
based on the detailed analysis of deconstructed business model canvas of the company. The
relationships that have been formed between the building blocks of the business model will
also be discussed in the report along with the risks that are faced in its operations.
II. Business model
The major goal that is related to the formation of business model is based proper
enhancement of the experiences which are offered to the users and can be influenced by
various aspects related to personalised sound. The various features that are mainly considered
as a major aspect of the products which are provided by firms are developed with respect to
the user profiles of the customers and experiences that are provided as well. The key aspect
which can differentiate Nura Headphones from the other firms in the sector is mainly related
to the proper fulfilment of demands of the customers by offering the premium quality based
products (Austin, 2020).

4BUSINESS MODEL CANVAS OF NURA HEADPHONES
A. Building blocks
1. Customer segments
Nura Headphones has been able to target different consumer segments that mainly
includes the music lovers who are interested to use headphones which are customised with
respect to their demands and needs. The capacity of customers based hearing are analysed by
Nura Headphones for the purpose of completing the manufacturing process of the firm. The
importance of customer listening levels can have an influence on the improvement of the
headphones that are offered by Nura Headphones (França et al., 2017).
2. Key partners
The partners of Nura Headphones mainly include the passionate and efficient team of
employees who are also considered to be major music lovers as well. The technology
providers are also considered for the purpose of proper development of the operations which
are mainly performed by an organization like Nura Headphones. The engineers and scientists
who are a part of the organization are able to provide major contribution to the growth of
Nura Headphones (García-Muiña et al., 2020).
3. Value proposition
The value proposition that has been formed by Nura Headphones is mainly related to
the development of the products that are of best quality and can also fulfil the various
personalised needs of the consumers. The various tie-ups that are developed by the
organization also have an impact on the formation of a proper value proposition of Nura
Headphones. The team that is a part of Nura Headphones has been able to develop their
capabilities and various products based on the appropriate development of its place in the
music industry (Gonçalves & da Silva, 2017).

5BUSINESS MODEL CANVAS OF NURA HEADPHONES
4. Key activities
The advertising and promotional activities that are performed by Nura Headphones
has been able to support the growth of the firm. The firm has developed different partnerships
and promotional activities in order to reach the consumers faster. Nura Headphones has also
been able to use various resources for development of customised services that are offered to
the consumers (Keane, Cormican & Sheahan, 2018).
5. Channels
Nura Headphones is able to the form its presence on various platforms that has helped
in formation of effective channels to reach the customers. The advertisements that are placed
on television are also able to enhance the promotional channels of Nura Headphones that can
help the firm to enhance its profits (Joyce & Paquin, 2016).
6. Revenue streams
Nura Headphones has been able to enhance its sales in the industry with the support
that is provided by its huge customer base of the firm. The firm has procured the finances
from various financial institutions for the purpose of maintaining the revenues and
operations. The banks have also provided major levels of support to development and growth
of Nura Headphones (Kristensen & Ucler, 2016).
7. Cost structure
Nura Headphones has provided effective levels of compensation to various
individuals and the employees which is considered to be an important part of the cost
structure of the company. The app of Nura Headphones is also able to enhance the costs that
the organization has to incur for developing its operations. The shipping and delivery based
costs are also considered to be a key part of the cost structure that is formed by Nura
Headphones (Keane, Cormican & Sheahan, 2018).

6BUSINESS MODEL CANVAS OF NURA HEADPHONES
8. Key resources
The efficient employees are considered to be a key resource that is related to the
development of the operations of Nura Headphones in the industry. Technologies that are
used by Nura Headphones also prove to be a key resource that is used by the firm in order to
manufacture the high end products. The company is also able to customise the sounds of its
headphones with the proper usage of technologies (Murray & Scuotto, 2016).
9. Customer relationships
Nura Headphones is able to form the relationships with customers by the usage of
proper communication. Social media platforms are also able to influence the process of
communication of the organization with customers so that their demands and needs can be
analysed. The activities related to promotion and advertising are also able to enhance
relationships that are formed by Nura Headphones with customers (Onken & Campeau,
2016).
B. Interrelationships
The connection is mainly developed between the nine building blocks that are a part
of the business model canvas of Nura Headphones. Various activities that have been
performed by Nura Headphones are mainly related to the promotional activities that are able
to influence the communication with consumers for the purpose of understanding their
demands. The employees and passionate team that is a part of Nura Headphones is also able
to support the organization for the manufacture of different products. Revenue streams that
are generated by Nura Headphones can also influence the levels of investments which can
support the firm in developing the innovative products (Sparviero, 2019).

7BUSINESS MODEL CANVAS OF NURA HEADPHONES
C. Critical success factors
The founders and entire team of Nura Headphones can play a key part in enhancing
the levels of success that is gained by the firm. The success of Nura Headphones has further
led to formation of the future plans that are related to proper competition that is provided by
the large players like Sony and Bose. Nura Headphones has been able to offer unique
products that are able to enhance the success of the firm in the music industry (Stenn, 2017).
D. Downside risks
Nura Headphones has aimed at proper development of training process of employees
for the purpose of improving service levels that are offered to consumers. The lack of
appropriate number of skilled employees can be fulfilled with the implementation of training
activities. The high costs that are incurred by the organization due to recruitment process are
also able to enhance the risks that are faced by Nura Headphones. High prices of the products
have also been able to influence the profitability levels of Nura Headphones in the music
industry (Onken & Campeau, 2016).
E. Business model changes
The enhancement of communication process and increase in distribution channels can
enhance the consumer base of Nura Headphones. The levels of growth of the firm of music
can play a major role in enhancement of revenues of the firm. The changes that are
implemented in business model of the organization will be able to key part in enhancing the
consumers. Nura Headphones can also aim at seeking financial help and support from various
institutions for the purpose of maintaining its growth (Keane, Cormican & Sheahan, 2018).
III. Conclusion
The study of the deconstructed business model of Nura Headphones can be concluded
by stating that the growth and operations of the firm is able to support its success in the

8BUSINESS MODEL CANVAS OF NURA HEADPHONES
industry. The experiences provided to consumers and implementation of modern technologies
in products of Nura Headphones have also helped in proper operations of the firm.
IV. Recommendations
Nura Headphones can be provided with the following recommendations for the
purpose of enhancing its position in the industry,
 The implementation of effective training programs for employees can help in
enhancing their skills.
 The promotional and advertising based activities performed by Nura
Headphones have also been able to enhance awareness related to its presence
in the industry.

9BUSINESS MODEL CANVAS OF NURA HEADPHONES
References
Austin, E. C. (2020). BUSINESS SURVIVAL GROWTH MODEL (BSGM) CANVAS VS
BUSINESS MODEL CANVAS (BMC). European Journal of Business and
Innovation Research, 8(1), 52-68.
França, C. L., Broman, G., Robert, K. H., Basile, G., & Trygg, L. (2017). An approach to
business model innovation and design for strategic sustainable development. Journal
of Cleaner Production, 140, 155-166.
García-Muiña, F. E., Medina-Salgado, M. S., Ferrari, A. M., & Cucchi, M. (2020).
Sustainability Transition in Industry 4.0 and Smart Manufacturing with the Triple-
Layered Business Model Canvas. Sustainability, 12(6), 2364.
Gonçalves, R. F., & da Silva, M. T. (2017, March). System Thinking and Business Model
Canvas for Collaborative Business Models Design. In Advances in Production
Management Systems. Initiatives for a Sustainable World: IFIP WG 5.7 International
Conference, APMS 2016, Iguassu Falls, Brazil, September 3-7, 2016, Revised
Selected Papers (Vol. 488, p. 461). Springer.
Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design
more sustainable business models. Journal of cleaner production, 135, 1474-1486.
Keane, S. F., Cormican, K. T., & Sheahan, J. N. (2018). Comparing how entrepreneurs and
managers represent the elements of the business model canvas. Journal of Business
Venturing Insights, 9, 65-74.
Kristensen, K., & Ucler, C. (2016, June). Collaboration Model Canvas: Using the Business
Model Canvas to Model Productive Collaborative Behavior. In 2016 International

10BUSINESS MODEL CANVAS OF NURA HEADPHONES
Conference on Engineering, Technology and Innovation/IEEE lnternational
Technology Management Conference (ICE/ITMC) (pp. 1-7). IEEE.
Murray, A., & Scuotto, V. (2016). The business model canvas. Symphonya. Emerging Issues
in Management, (3), 94-109.
Nuraphone.com. (2019). nuraphone - Music in full colour™ | Personalized sound. Retrieved
from https://www.nuraphone.com/
Onken, M., & Campeau, D. (2016). Lean startups: Using the business model canvas. Journal
of Case Studies, 34(1), 95-101.
Sparviero, S. (2019). The Case for a Socially Oriented Business Model Canvas: The Social
Enterprise Model Canvas. Journal of Social Entrepreneurship, 10(2), 232-251.
Stenn, T. L. (2017). Focus on the business model canvas. In Social entrepreneurship as
sustainable development (pp. 55-89). Palgrave Macmillan, Cham.

11BUSINESS MODEL CANVAS OF NURA HEADPHONES
Appendix 1 – Table 1 - Business model canvas of Nura Headphones
Key Partners
 Resourceful
team.
 Technology
suppliers.
Key Activities
 Promotional
events.
 Growth of
operative
teams.
Value Proposition
 Providing
customer
contentment.
Customer
Relationships
 Social
media
based
communica
tion.
Customer
Segments
 Hard core
lovers of
music.
Key Resources
 Accessibility
of
technologies.
Channels
 Existence
on the web.
 Advertisem
ents.
Cost Structure
 Compensation based costs.
 Costs related to growth of high end app.
Revenue Streams
 Product sales.
 Financial support gained.
Source – Created by Author