CQUniversity MGMT20143: 3D Earphones Business Canvas Model Report

This report provides an analysis of a business model centered around innovative 3D earphones designed to cater to young, music-loving individuals, particularly those with limited income. The report begins with an executive summary and table of contents, followed by an introduction outlining the core concept and its potential market. The analysis identifies the problem of expensive music subscriptions and proposes 3D earphones as a solution. The report then details the advantages of the earphones, including superior sound quality and the ability to play music without internet access. The core of the report is a business canvas model, breaking down the business into nine key building blocks: customer segments, key partners, value propositions, key activities, channels, revenue streams, cost structure, key resources, and customer relationships. The report also examines the interrelationships between these blocks, critical success factors, potential risks, and a feasibility analysis. The report concludes with a list of references and an appendix, providing a comprehensive overview of the business model for the 3D earphones.

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author note

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Executive Summary
The report has helped in the overall analysis of the different kinds of innovative ideas which
plays a major role in meeting the different requirements of a certain group of customers
through generation of the innovative idea and gain competitive advantage in comparison to
the other competitors present in the market. Thee introduction of 3D earphones can be
essential in meeting various demand of customers through making the price affordable and
gain competitive advantage in the market as well.

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Table of Contents
Introduction................................................................................................................................3
Analysis of Issue and Identification of Innovative Solution......................................................3
Advantages of Innovative Earphones.........................................................................................3
Business Canvas Model.............................................................................................................4
Building Blocks......................................................................................................................4
1. Customer Segments............................................................................................................4
2. Key Partners.......................................................................................................................4
3. Value Propositions.............................................................................................................5
4. Key Activities.....................................................................................................................5
5. Channels.............................................................................................................................5
6. Revenue Streams................................................................................................................6
7. Cost Structure.....................................................................................................................6
8. Key Resources....................................................................................................................6
9. Customer Relationships.....................................................................................................6
Interrelationships between Nine Building Blocks of BMC.......................................................7
Critical Success Factors.............................................................................................................7
Critical Risks and Assumptions.................................................................................................8
Feasibility Analysis....................................................................................................................8
References..................................................................................................................................9
Appendix..................................................................................................................................11
Business Canvas Model.......................................................................................................11

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Introduction
The report throws light on overall analysis of the most innovative idea which will be
developed in managing the various kinds of requirements of the specific group of customers
present in the entire market. Furthermore, the appropriate canvas model will be designed as it
will be suitable in managing the product success. The development of the innovative product
in the respective assignment is 3D Headphones which is suitable for the ones for the young
millennials or the ones who are not earning, however they are a fan of music. The main aim
of the report is to solve the problems of the different deaf individuals in the market according
to the preferences of the customers in the market in comparison to the other competitors
present in the market.
Analysis of Issue and Identification of Innovative Solution
The main problem which is faced by the different individuals who are the school
goers or college goers who do not have their own income, however they prefer listening to
3D music on different social media channels such as YouTube which charges huge amount
for subscription. However, the respective group do not have money in subscribing to
YouTube and in such scenario, the 3D music can be heard with the 3D headphones which
will be suitable for meeting the demands. Therefore, the respective Earphones will be
designed in a manner wherein the specific group of customers can hear to music of their
choice which are stored in the mobile phones and there is no requirement of internet.
Advantages of Innovative Earphones
The main advantage of the innovative 3D earphones is that the sound quality is
superior and it helps in capturing the 3D effect of all the songs which are stored in the mobile

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phones or the songs which are in normal tones. The other innovative aspect of the 3D
headphones is inclusive of the fact
Business Canvas Model
With the help of the business model, the different kinds of key elements are required
to be identified and analyzed which plays beneficial role in meeting the personalized
requirements appropriately. The main fact is that respective Headphones uses to produce
sound which is perfect for each individual who wears the headphones and loves to listen to
the different music (Staniewski, Nowacki & Awruk, 2016). The other advantage of the 3D
earphones is that there will be no requirement of internet, and it will be suitable for all
resolution songs which will be beneficial in attracting and targeting the young generation
customers who are in shortage of money. It is the multi-sided business model which will be
incorporated as it will be beneficial in supporting the different needs of the specific group of
customers (Rypestøl & Aarstad, 2018).
Building Blocks
The nine blocks of the business canvas model are essential as it is helpful in
understanding the different kinds of segments or the activities which play a major role in
improving the different business operations in a successful manner.
1. Customer Segments
The main segments of the customers include the different lovers of music and prefers
to utilize to listen to the 3D music, however they do not require to search for the songs from
YouTube channels as it will be customized in nature and it will be helpful in meeting the
sound aspects as per their preferences of all resolutions (Parida et al., 2017).

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2. Key Partners
The main and key partners of Headphones include the different effective team of the
different founders of the headphones as they will be able to understand the preferences of
customers in an accurate manner (Oo et al., 2018). There are different providers of
technology who will be the other key partners of the Headphones as they will be able to guide
the company regarding technology related factors. The components manufacturers who are
creative will be the other partners who will be helpful in manufacturing of headphones which
will be personalized.
3. Value Propositions
The main value propositions of the company include the different kinds of satisfaction
to the different loyal customers who will be purchasing the headphones. The personalized and
technological advanced approaches can be beneficial in managing the different demands of
the customers in an accurate manner which will be beneficial in providing the different
services to the customers in an appropriate manner (Omerzel, 2016).
4. Key Activities
The proper marketing and sales through different tie-ups with the cloud technology-
based organizations that will be meeting the different preferences of the customers effectively
(Lian & Yen, 2017). There are different promotion related services which will be performed
through the official website of the company as it will encourage the different customers
related to the customized objects which will be provided by the company to them.
5. Channels
The different channels which will be beneficial for the success of the Headphones
such as official website of the company can play a major role in managing the different

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activities appropriately (Li, Qu & Huang, 2018). There can be different advertisements along
with media channels can be adopted by respective Headphones as it will be helpful in
delivering the customized and personalized earphones to the customers who loves hearing
through headphones.
6. Revenue Streams
The revenue streams which are considered to be essential in the sale of the earphones
in the market among the different customers include sales and the other financial aspects
which will be received from government and the banks (Law & Breznik, 2017).
7. Cost Structure
There are different kinds of costs which are related to the sale of earphones in the
market that is inclusive of the shipping costs for the shipping of earphones to the different
locations in the entire world along with different kinds of taxes which are required to be paid
to the authorities of government (Joshi, Das & Mouri, 2015). The others include the costs
which are the salary or wages which should be provided to the workers in the organization.
8. Key Resources
The highly technological advancement as well as applications of the company can
play a beneficial role in personalizing the earphones which will be meeting the different
requirements of the customers in an accurate manner (Hyytinen, Pajarinen & Rouvinen,
2015). The management of the organization are the other ones who play beneficial role in
customizing the sound and providing the most personalized services to the customers.

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9. Customer Relationships
With the help of the social media channels along with the other websites are the
different aspects through which the company is being able to communicate with the different
customers in an appropriate manner. There should be inclusion of post feedback system that
will be appropriate in managing the needs of the customers in an accurate manner.
Interrelationships between Nine Building Blocks of BMC
The major nine blocks of the BMC are interconnected with one another and it is
helpful in the overall fulfillment of the different needs of the customers who are the school or
college goers who cannot afford to spend amount on subscription of YouTube channels to
hear out to the 8D music (Dutta, Gwebu & Wang, 2015). The key partners will assist in
providing services for customers and it will be beneficial in creating a unique position in the
market.
The technological aspects of the respective product will allow them in providing best
services to customers and it will be enhancing their capability in performing different
operations appropriately. The different lovers of music will be benefitting in gaining the
clarity in the sound and it will be improving the overall needs which is required to be
delivered to the customers present in the market (Al-Dajani et al., 2019). The innovative 3D
aspect of earphones will be differentiating their products from the other competitors as it is
brand new idea and it is beneficial in improving their position in market.
Critical Success Factors
The major aspect related to success of the respective 3D headphones is it will be
satisfying the different needs of the customers who cannot afford to spend much on
subscription of different channels on internet (Al-Dajani et al., 2019). The versatility and the

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comfort which will be provided by the respective earphones will be beneficial in enhancing
the needs of the customers and gain competitive advantage in the market. There will be
reduction of noise while listening to songs which will be suitable for becoming famous.
Critical Risks and Assumptions
On the contrary, there are different kinds of risks which can affect the growth of the
respective earphones in comparison to the other competitors. There can be issues such as the
ones who will be listening with 3D earphones can cause accidents and there can be damage to
ears as it will be loud and listening to the same will take the listeners to different virtual
world which can cause different issues related to health problems and it can hamper the
growth of the earphones in the market (Al-Dajani et al., 2019). Lastly, as the earphones will
be delicate in nature in comparison to the normal earphones, therefore it can be damaged after
few uses and it cannot be repaired as well.
Feasibility Analysis
After the overall analysis of the 3D earphones, it can be identified that in inventing
the respective innovative 3D earphones in the market, there can be different financial
crunches or issues such as the materials which will be required to make the respective design
is costly and it can affect the overall productivity of the 3D earphones. There can be lack of
funds in preparing the 3D earphones which can cause huge issues and it will be hampering
the overall growth and innovation of the same.

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References
Al-Dajani, H., Akbar, H., Carter, S., & Shaw, E. (2019). Defying contextual embeddedness:
evidence from displaced women entrepreneurs in Jordan. Entrepreneurship &
Regional Development, 31(3-4), 198-212.
Dutta, D. K., Gwebu, K. L., & Wang, J. (2015). Personal innovativeness in technology,
related knowledge and experience, and entrepreneurial intentions in emerging
technology industries: a process of causation or effectuation?. International
Entrepreneurship and Management Journal, 11(3), 529-555.
Hyytinen, A., Pajarinen, M., & Rouvinen, P. (2015). Does innovativeness reduce startup
survival rates?. Journal of Business Venturing, 30(4), 564-581.
Joshi, M. P., Das, S. R., & Mouri, N. (2015). Antecedents of innovativeness in technology‐
based services (TBS): peering into the black box of entrepreneurial
orientation. Decision Sciences, 46(2), 367-402.
Law, K. M., & Breznik, K. (2017). Impacts of innovativeness and attitude on entrepreneurial
intention: among engineering and non-engineering students. International Journal of
Technology and Design Education, 27(4), 683-700.
Li, J., Qu, J., & Huang, Q. (2018). Why are some graduate entrepreneurs more innovative
than others? The effect of human capital, psychological factor and entrepreneurial
rewards on entrepreneurial innovativeness. Entrepreneurship & Regional
Development, 30(5-6), 479-501.
Lian, J. W., & Yen, D. C. (2017). Understanding the relationships between online
entrepreneurs’ personal innovativeness, risk taking, and satisfaction: Comparison of

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pure-play and click-and-mortar. Journal of Organizational Computing and Electronic
Commerce, 27(2), 135-151.
Omerzel, D. G. (2016). The impact of entrepreneurial characteristics and organisational
culture on innovativeness in tourism firms. Managing Global Transitions, 14(1), 93-
110.
Oo, P. P., Allison, T. H., Sahaym, A., & Juasrikul, S. (2018). User entrepreneurs' multiple
identities and crowdfunding performance: Effects through product innovativeness,
perceived passion, and need similarity. Journal of Business Venturing.
Parida, V., Pesämaa, O., Wincent, J., & Westerberg, M. (2017). Network capability,
innovativeness, and performance: a multidimensional extension for
entrepreneurship. Entrepreneurship & Regional Development, 29(1-2), 94-115.
Rypestøl, J. O., & Aarstad, J. (2018). Entrepreneurial innovativeness and growth ambitions in
thick vs. thin regional innovation systems. Entrepreneurship & Regional
Development, 30(5-6), 639-661.
Staniewski, M. W., Nowacki, R., & Awruk, K. (2016). Entrepreneurship and innovativeness
of small and medium-sized construction enterprises. International Entrepreneurship
and Management Journal, 12(3), 861-877.

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Appendix
Business Canvas Model
Key Partner
Different engineers
who works in the
different creative
departments
The founders of the
3D Earphones
Key Activities
Proper tie ups
with the
different
organizations
Proper
customized and
3D hearing
experience to
the ones who are
school or
college goers
and cannot
afford to spend
money on
subscription fees
Value
Proposition
Providing the
satisfaction to
the different
customers
Proper and
efficient team
management in
the
organizations
Customer
Relationships
Through the
usage of the
social media
channels along
with advertising
Post feedback
system is
required to be
invented
Customer Segments
The college and school
goers who loves
listening to songs and it
will be beneficial in
targeting and meeting
different demands
Key Resources
High and
advanced
technological
advancements
Channels
Official website
of the company
Social Media
Channels

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Cost Structure
The different shipping related costs
Different rate of taxes which are required to be paid
to the government authorities
Revenue Streams
Product sales costs along with different finances
which are properly generated from the institutions
of government and bank