Idea Generation and Business Model Development Report for Management

This report presents a business idea aimed at solving customer problems in the fashion industry. The core concept involves utilizing 3D technology to allow customers to virtually try on outfits before making a purchase, addressing the common issue of uncertainty in online shopping. The report details the customer and market problems, proposes the business idea, and outlines the customer benefits. It then presents a comprehensive business model, including key partners, activities, value propositions, customer relationships, segments, resources, channels, cost structures, and revenue streams. The interrelationships between these components are discussed, emphasizing how they contribute to the business's success. Critical success factors, potential risks, and assumptions are evaluated, followed by an assessment of the idea's feasibility. The report concludes by summarizing the key findings and implications, highlighting the potential for innovation and technology to transform the customer experience in the fashion industry. The report also includes a detailed business model canvas in the appendix, as required by the assignment brief.