Business Model Innovation: The Iconic - CQUniversity MGMT20143

This project analyzes business model innovation for 'The Iconic,' an Australian online fashion and sports retailer. It identifies consumer market problems such as security vulnerabilities and proposes solutions like enhanced security software and employee training. The project outlines a business model including key partners, resources, activities, customer relationships, channels, and segments. It also details market strategies, a financial plan, and success factors, emphasizing customer service and effective marketing. The analysis includes a team charter and schedule, highlighting collaborative efforts and task division. The project aims to improve 'The Iconic's' market position and financial performance through strategic innovation and operational enhancements. Find this and other solved assignments on Desklib.

THE ICONIC is a Australian online fashion and
sports retailer. It was launched in 2011 and
since then it has became one of Australia’s
largest fashion and sportswear company. Since
its release, the brand has become an Australian
online fashion retailer which stocks more than
seven hundred brands and fifty thousand items.

CONSUMER MARKET PROBLEMS
- Absence of certain security arrangements and treats has
expanded the challenges of every one of its clients in the
regions of the account use . On the off chance that the
loans concerned about the security program buying are
not reimbursed in an opportune way, it fills in as a trade
off with the shopper needs alongside their necessities and
requests.
- Absence of directing the login of its clients inside the
records and applications offers expanded access to the
programmers concerning the intercession inside the
individual data of every one of its customers. This has
brought about an expanded misfortune for representatives
of the product organizations in thought to the wellbeing of

MARKETING INSIGHTS
- Since its release, the brand has become
an Australian online fashion retailer
which stocks over seven hundred brands
and fifty thousand items.
- Such items include Sass & Bide,
Camilla and Marc and Lorna Jane and
international brands include Nike,
Levi’s, Calvin Klein and Adidas.

BUSINESS PROPOSITION
- It has been discovered that an assorted way exists by which clients are upheld to
utilize the medium of records alongside applications. It is likewise noticed that
sorting out an instructional class for the representatives may have been
profitable in thought offering the reasonable experience of utilizing the list of
things to get applications. Making them completing such advances themselves in
encouraging them ending up being comfortable with the imaginative exercises of
the shopping site. It is likewise thought about presenting a security approach.
- The new business will have introduced security programming inside the clients
account with the goal that no outsider may login to the individual data of the
purchasers. Additionally, the suggestions are likewise furnished in regards to
offering workers with the training that may have enhanced their abilities,
information on customer benefit alongside learning. The handy experience may
likewise have encouraged them in leading the undertakings in a better way.

BUSINESS MODEL
Key Partners
Los Angeles Lakers,
Staples centre
Key Resources
300 skilled and efficient
employees; latest and
modern technology
Key Activities
Creation of wish list,
user accounts
Customer relationship
Website and social
media
Channels
Advertising, apps
Customer segments
20-35 years customers

MARKET STYLE AND POTENTIAL
-Making the employees carry out training and turning out to
be familiar with the innovative activities of the shopping site.
It is also considered introducing a privacy policy . In relation
to same, the new business will have installed security
software within the users account so that no third party
might intervene into the personal information of the
consumers.
-Influencing the workers to do preparing and turning out to
be comfortable with the creative exercises of the shopping
site. It is additionally thought about presenting a security
approach . In connection to same, the new business should
introduce security programming inside the clients account
with the goal that no outsider may mediate into the
individual data of the purchasers.

MARKET PLAN
- The business considers educating the lake personnel
concerning the developed plans. This can likewise supports
far as keeping up the lawful business practices. The
examination is among the most indispensable advances that
the business has thought to be taken after. This is in thought
to cut down and clarify the restrictions in the ways and way
of directing the business activities.
- The new thought generation has concentrated on keeping
up consistency inside the execution of examination for
updating quality and models of representative execution.
With that the new business considers accomplishing backing
of criticism and overview for the buyers so as to achieve a
thought in regards to their approach toward demanded
administrations. Gathering the criticism and reviews helps

MONEY PLAN
- Providing customers with the
superior quality of products and
services
- Make the customers feel that the
store is more convenient for them.

SUCCESS FACTORS
- Generation of wish list application demonstrates the
compelling business system of "The Iconic" workers in
guaranteeing that they impact the buying energy of the
buyers. Low evaluated items make the application eminent
among all its objective purchasers. Such type of promoting
encouraged the workers in executing direct showcasing
keeping in mind the end goal to enhance the soundness in the
prelateship with every one of its shoppers.
-It has been accumulated from an overview that this
application accomplished the first position in the Australian
retail online market in which the webpage has its outlets.
Facebook has upgraded the business income of the online
retail shop by around 500 million. Such ads has added to the
expanded an incentive for shoppers that has additionally

CASH FLOW
Year 1 Year 2
Annual cumulative price (revenue) increase - 2.00%
Annual cumulative inflation (expense) increase - 2.00%
Interest rate on ending
cash balance 0.50% 0.50%
Year 1 Year 2
Gross revenue $438,000 $446,760
Cost of goods sold $45,000 $45,900
Gross margin $393,000 $400,860
Other revenue [source] $0 $0
Interest income $0 $0
Total revenue $393,000 $400,860

CASH FLOW
Operating expenses
Sales and marketing $6,000 $6,120
Payroll and payroll taxes $50,000 $51,000
Depreciation $60,540 $61,751
Maintenance, repair, and overhaul $0 $0
Total operating expenses $116,540 $118,871
Operating income $276,460 $281,989
Interest expense on long-term
debt $0 $0
Operating income before other items $276,460 $281,989
Loss (gain) on sale of assets $0 $0
Other unusual expenses (income) $0 $0
Earnings before taxes $276,460 $281,989
Taxes on income 30% $82,938 $84,597
Net income (loss) $193,522 $197,392