MN5W50QA - Business Model Canvas Iteration & Reflection: Organic Mart

This report provides a detailed analysis of the Organic Mart's business model canvas, focusing on its iterative development and reflection. The initial idea centers around a retail store specializing in organic products, including food, beverages, beauty products, and more, differentiating itself from regular supermarkets by offering only organic items. The report outlines key partners, activities, resources, and value propositions, emphasizing the importance of meeting consumer demand for healthy and safe organic products. It further examines cost structures, revenue streams, marketing strategies, and target customer segments, particularly health-conscious young people and those focused on maintaining a high standard of living. The reflection section discusses the rationale behind the idea, the importance of reflection in business development, and the assumptions underlying the business model. Subsequent iterations of the business model canvas incorporate feedback from pitches, leading to the inclusion of new partners, resources, and value propositions, such as a focus on vegan products and eco-friendly practices. Desklib provides a platform to explore this and similar assignments.

MN5W50QA - Creating a Winning Business
Assignment 2 Workbook: Due Date 22 July 2022 Before 3.00 pm
Business Model Canvas - Iteration and Reflection
Student Id: [type here]
Lecturer: [type here]
Submission Date: [type here]
NOTES
1. You should stick to one page for each of the parts. To achieve this, you may reduce the font size if needed (no smaller then 8) and you can delete the
guidance words in italics
2. Make full use of the Guide questions in italics in the Workbook
3. For Versions 2 and 3 of your BMCs – you ONLY need to show the changes from the previous version
In the box below, please explain in simple terms, your business idea. Maximum of 100 words
Page 1
The current business idea is of opening a retail store which will be deal with every organic product. These different range of product and
services will be including the organic food products, energy drinks, beverages, beauty products and many other different kind of the
product. The only different between the normal supermarket and the organic supermarket will be that in this mart everything sold will be of
organic material only. The name of the supermarket is Organic Mart which will be including the product and services totally relating to the
organic products only. This mart will also provide the facility to other organic companies to sell their product through this store.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Cost Related Revenue Related
Key Partners
Who are our key partners?
Who are our key suppliers?
Which key resources will our
partners provide? Which key
activities will our partners
perform?
Type here:
The key partners and suppliers for
Organic Mart involves the
following-
Direct farmers who produces the
products
Other organic food product brands
Beauty product brands who deal in
use of organic product only.
Technical company
Transportation and logistics
Marketing companies
There are different types of the
resources which will be provided
to the company for managing and
maintaining all the organic
products.
Key Activities
What key activities do our value
propositions require in order to
produce, market and deliver them?
What about channels, customer
relationships, different revenue
streams?
Type here:
The key activities of the business
will include-
Intense advertising
PR promotion
Customisation and professional
working
Value Propositions
What value do we deliver to the
customer? Which of our
customer’s problems are we
helping to solve? Which customer
needs are we satisfying?
Type here:
The value being offered by the
Organic Mart is the fact that
majority of consumer require to
use the organic product which will
not be harm their health and skin.
Hence, this value is being provided
to the consumer by way of
providing them good quality
organic products
(Thirunavukkarasu and et.al.,
2022). Also, consumers have the
problem that product having
chemical and other harmful
substances might affect the health
of the person. Hence, this problem
will be solved with help of product
and services of mart. Along with
this the consumer need that will
be satisfying by this store is of
enhancing the standard of living
and using good quality organic
products.
Marketing & Sales
Communication
How will we raise awareness of
our products and services with our
target customer segments? What
messages or offers will create
desire and interest? How will those
messages reach our potential
customers? e.g. Facebook ads
Type here:
Online advertising with help of
social media platforms.
Leaflets and print media
advertising
Television advertising
Customer Segments
For whom are we creating value?
Who are our most important
customers?
Type here:
The major target segment for the
Organic Mart is the young people
who are more health conscious
and care more for the way they
appear and look (Sparviero,
2019). Also the people who are
more focused on maintaining their
standard of living will be another
target segment being selected.
Along with this the working
women and other women too will
be target especially for the organic
beauty product range.
Key Resources
What key resources do our Value
Propositions require e.g. physical,
intellectual, human, financial?
What resources do our channels,
revenue streams, customer
relationships require?
Type here:
The key resources necessary for
Organic Mart involve-
Human resource
Financial resource
Technical resources
Product & Service Delivery
Channels
How will customers purchase and
receive the product or service?
What about after sales support
e.g. returns? Where will the
marketing communication direct
customers to?
Type here:
The consumer will have the facility
of both going to the store and
purchase and also the facility of
online website.
Along with this there will be a
policy of 3 days’ return being
provided to the consumers. Also
the website and 24/ 7
communication facility is being
provided for the consumers.
Cost Structure
What are the most important costs inherent in our business model? (think about fixed and
Revenue Related
What value are our customers willing to pay for? What are they paying now? How do they
Page 2

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
variable costs). Which resources and key activities are most expensive?
Is the business model more cost driven (helping the customer save money) or value driven?
Is there an opportunity for economies of scale?
Type here:
The infrastructure cost
Marketing cost
The most expensive cost is the marketing because all the marketing techniques are costly.
currently pay and how would they prefer to pay? How much does each possible revenue
stream contribute to overall revenue? How might we price this product or service e.g.
subscription, fixed or variable pricing, pay in advance, PayPal?
Type here:
The current payment can be done in both format that is electronic payment or physical
payment as well. the payment of every product varies from the type of the product.
End of page 2
Page 3

Business Model Canvas Version 1: Reflection (Maximum 400 words for the page)
Explain the history behind your idea: e.g. how did you come up with the idea, why
do you think it will be successful? Why do you think you are the right person to
develop this idea?
Type here:
In this highly modern and competitive environment the people have become more
conscious on the way that how they look and present themselves within the
society. this is pertaining to the fact that competition has increased to a great
extent and for securing a good position person need to look confident and good.
Hence, this can only be done in the case the person is using good quality products
and they must be healthy and safe for the person to use. This is because of the
reason that in case the product and services will be not of good quality then it will
be affecting the interest of the person with the company products (García-Muiña
and et.al., 2020). also it the necessity of the current working condition that good
quality organic products are being made available to the consumer at nominal
prices. This idea will be successful for the reason that it meets the current need and
assist the person in solving their problem. Hence, as a result of this the business
will be getting successful without any problem.
I will be suitable person for developing this idea as I have faced the issues and
consequences when the person does not look good. With this the confidence level
of the person also reduces and I was not able to work in better and effective
manner. Hence, this business idea will be assisting me to help the people in
maintaining their lifestyle and standard of living.
Reflection: What do you understand by the term ‘reflection’? What is an ‘action
learning set’ and why might it be more effective than individual reflection?
Type here:
The reflection can be stated as the concept through which the person can recall
their past learning and experience and try to improve the future working. This
reflection is a practice which includes remembering of the past experience and try
to use the learning in improvement of the future working as well. there are many
different types of the methods and models which assist the person in writing the
reflection in better and effective manner (Dobrowolski and Sułkowski, 2021). Along
with this the reflection will be helping the person in assimilating the learning in
better and effective manner.
Along with this the action learning set is a concept which involves more people
working together on common topic and try to improve the knowledge relating to it.
The group reflection is better in comparison to the individual reflection (Giourka
and et.al., 2019). This is because of the reason that when more people work on a
particular task then more information can be gathered. Hence, for this it is better
than individual learning.
Assumptions: What are the main assumptions behind your business idea? How
could you test those assumptions?
Type here:
The major assumption behind the business idea are as follows-
The people and consumer are fully motivated towards buying of the healthy and
organic products whether it relates to food, beauty or any other segment.
The trend of living healthy life will continue always

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
End of page 3
Page 5

Business Model Canvas Version 2: After the Pitch (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
Who are our key partners?
Who are our key suppliers?
Which key resources will our
partners provide? Which key
activities will our partners
perform?
Type here:
After the pitch some of the new
partners and other suppliers have
also engaged which are as follows-
The legal authorities
The online stores dealing in
organic product
The resource used from these will
the product of different online
organic retailers and their
products will be sold in Organic
Mart. Also the legal authorities
include the people who govern the
working of the supermarkets and
for protection of the consumers.
Key Activities
What key activities do our value
propositions require in order to
produce, market and deliver them?
What about channels, customer
relationships, different revenue
streams?
Type here:
another set of key activities for
Organic Mart is as follows-
Hiring a warehouse for storing
products and other material
Undertaking boarding and
hoarding advertising
Trying to attract more skilled set of
employees
Value Propositions
What value do we deliver to the
customer? Which of our
customer’s problems are we
helping to solve? Which customer
needs are we satisfying?
Type here:
further the value added within the
business is to use the products
which are healthy for the person
and are eco- friendly as well so
that it protects the environment as
well. further another value which
will be delivered to the consumer
will be focus on only the vegan
food products only and not any
other non- vegan food.
Marketing & Sales
Communication
How will we raise awareness of
our products and services with our
target customer segments? What
messages or offers will create
desire and interest? How will those
messages reach our potential
customers? e.g. Facebook ads
Type here:
for raising the awareness of the
product and services effective
combination of the social media
and digital technology for
marketing will be combined with
the traditional marketing methods.
This will be providing information
to all type of the consumer that is
using the social media platforms
and for the people who are not
having access to the social media
will also get effective knowledge of
all the updates of the changes in
the product and services.
Customer Segments
For whom are we creating value?
Who are our most important
customers?
Type here:
after the pitch and market
research some of the new
segment of the consumer have
been analysed and these involves
the following-
after the pitch and market
research some of the new
segment of the consumer have
been analysed and these involves
the following-
parlour and beauty wellness
centre
gym and fitness centre
Key Resources
What key resources do our Value
Propositions require e.g. physical,
intellectual, human, financial?
What resources do our channels,
revenue streams, customer
relationships require?
Type here:
further after the pitch new
resources to be used involves-
warehouse
hiring quality analyst for
maintaining the quality of the
goods and services.
Product & Service Delivery
Channels
How will customers purchase and
receive the product or service?
What about after sales support
e.g. returns? Where will the
marketing communication direct
customers to?
Type here:
the pitch provided some of the
product and services delivery
channels have also changed a little
bit. These changes are as follows-
along with the offline and online

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
patent and copyrights facility the company will also be
providing difference schemes and
discount policy for attracting large
number of consumers.
Further the different loyalty
program is also implemented in
order to attract more of the
consumers.
In addition to this for the
communication the facility of
round the time message option
being available for the consumers.
Cost Structure
What are the most important costs inherent in our business model? (think about fixed and
variable costs). Which resources and key activities are most expensive?
Is the business model more cost driven (helping the customer save money) or value driven?
Is there an opportunity for economies of scale?
Type here:
further after the pitch it was evaluated that there are certain more expenses and cost which
the company need to face while undertaking this business. These different cost involves the
following-
transportation cost
infrastructure cost for maintaining the business
CRM
liaison activities cost and many other different.
Revenue Related
What value are our customers willing to pay for? What are they paying now? How do they
currently pay and how would they prefer to pay? How much does each possible revenue
stream contribute to overall revenue? How might we price this product or service e.g.
subscription, fixed or variable pricing, pay in advance, PayPal?
Type here:
along with cost, after the pitch, the revenue related things also changed a bit and there
were also different types of the revenue being increased by the company for increasing the
overall profits. These change in the revenue stream are as follows-
the new discount policy is being implemented and this will increase the sales by at least 10
%
also the prices will be charged on the basis of premium pricing strategy such that the sales
of the company will be increasing.
The prices of the product will be including the profit margin of at least 2 % for every
product.
End of page 4
Page 7

Business Model Canvas Version 2: Reflection (Maximum 400 words for the page)
Pitch: How did you prepare for your pitch? What went well or not so well? What
have you learnt from the experience?
Type here:
From the evaluation it can be specified that there are different kinds of the
components which is required to be taken into the processing so that effective
understanding about the steps to coordinate with changing circumstances so that
effective competitive edge can be obtained. I have given emphasis on having the
proper information regarding prevailing changes so that making changes in the
overall functioning to achieve insights to deal with competition has become
possible. I have paid attention on having some changes in the key partners and
other areas which includes ensuring that the requirements of targeted audience
can be met. In respect to this it can be specified that there are various
requirements of the audience such as being healthy, etc. so that proper
accomplishing of organizational objectives like higher profitability can become
possible. I have evaluated that there are distinct actions which went well that
involves having the precise marketing and communicational strategy in turn higher
effectiveness to spread the awareness & connecting with the customers can
become possible. On the basis of the changes I came to know that the key
resources identified has not worked well so that effective pattern of functioning to
uplift the working scenarios can become possible. I have learnt that having
information regarding the prevailing changes is important in turn greater
productiveness can become possible.
Assumption Testing: How have you tested the main assumptions behind your idea?
How has your business model canvas been updated and changed and why?
Type here:
From the assessment I came to know that the there are various assumptions
which are basically taken into the current business ide ait un effective form of the
practices to gain ability to establish in market can become possible.
The specified targeted audience has specified in the various research that having
organic goods are important in turn accomplishing the effective ability to eliminate
the negative impact on their health can become possible.
After testing: people in the specified market is having the more preferences for
accomplishing their objective of having good health condition which shows good
demand in the market.
For the testing: the survey has been conducted on the online platform hitch has
allowed to contact with the 20 people who lies in the targeted audience that
depicts that their main concern is to avoid the chemical based goods via having
organic products. This has helped I gaining the insights about the targeted audience
preferences that they are interested in offered goods.
Comment on your Action Learning Set: What helpful advice, if any, have you
received from other people in your group? What advice or help have you given?
What has worked well and what could you do to make your group more effective?
Type here:
I have come to know that having the reliable insights about the taste and
preferences of customers is crucial as offering suitable product in market is one of
the significant key to success. On the basis of this, it can be interpreted that the
advised worked well as helped in achieving the competitiveness to meet the
market demand. It is the lengthy process to make the research about the targeted
audience as the taste and preferences, this has permitted to gain the competitive
edge to uplift my performance in turn good productiveness can be achieved.
End of page 5

Business Model Canvas Version 3: Final Refined Version (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
Who are our key partners?
Who are our key suppliers?
Which key resources will our
partners provide? Which key
activities will our partners
perform?
Type here:
After making the changes there
are certain form of the actions
which is effectively executed by
the firm in turn reliable pattern of
growth and development can be
done. The particular firm will focus
on having the additional pater who
are the home made producers so
that offering them resources to get
relevant products can be
achieved.
In addition to this, including the
resources such as having effective
insights to get the productive
results the organization will pay
attention on having homemade
based ingredients such as rose
water, etc. Offering this can help in
gaining the effective ability to
deliver goods in market.
Key Activities
What key activities do our value
propositions require in order to
produce, market and deliver them?
What about channels, customer
relationships, different revenue
streams?
Type here:
The key activities include having
the significant store administration
& management, legal compliance
for accessing and using the
resources to offer the organic
goods, financial management to
get the reliable functioning.
The key activities as well includes
having continuous market research
to [possess the effective ability to
coordinate with changing
circumstances.
Value Propositions
What value do we deliver to the
customer? Which of our
customer’s problems are we
helping to solve? Which customer
needs are we satisfying?
Type here:
Value offering in the current era is
highly crucial in turn accomplishing
the organizational o goal of gaining
greater competitiveness in turn
significant processing can become
possible (Forgan, Bavali and
Hadipour Fard, 2021). The value
which is provided in the current
time after making the significant &
appropriate level of customization
is provided. This can greatly add
the value to the particular form of
targeted audience in turn
accomplishing competitiveness to
uplift the overall processing can be
done in higher productive pattern.
Having customization approach
can allow to get the effective
ability to ensure that each
customer can have the desirable
kind of the products that can help
in uplifting the brand image in
market. there are various factors
which include possessing
effectual customization via using
the suitable products can be
achieved.
Marketing & Sales
Communication
How will we raise awareness of
our products and services with our
target customer segments? What
messages or offers will create
desire and interest? How will those
messages reach our potential
customers? e.g. Facebook ads
Type here:
In the current era, having the
significant form of the
competitiveness via having
appropriate pattern of marketing
strategies is crucial (MOST
EFFECTIVE MARKETING
STRATEGIES 2022). The main
reason behind this is to get the
reliable approach to deliver the all
disclosure of information regarding
the benefits which can be achieved
by customers through using the
strategy of offering demo to
customers. In the present time the
customer focus on having the
effective the effective utilization of
the products so that its impact
can be evaluated in turn good
results via formulating the
views of positive impact of the
brand can become possible.
Customer Segments
For whom are we creating value?
Who are our most important
customers?
Type here:
On the basis of the market
research it can be mentioned that
there is different form of the
customers as compared to the
previously mentioned. This
involves the elder people who
have some health issues like
diseases and tend to avoid the
utilization of chemical goods which
can impact negatively. In addition
to this, it can be mentioned that
customers are effectively
functioning in market via having
higher revenue from customers.
In addition to this, it will include
the child so that their requirement
of meeting their requirement of
having natural aspects to boost
their immunity, skin care, etc. can
be met.
Key Resources
What key resources do our Value
Propositions require e.g. physical,
intellectual, human, financial?
What resources do our channels,
revenue streams, customer
relationships require?
Type here:
Product & Service Delivery
Channels
How will our customers purchase
and receive the product or service?
What about after sales support
e.g. returns? Where will the
marketing communication direct
customers to?

Business Model Canvas Version 3:
The key resources have inclined
due to the various alteration in the
overall processing of the business
which shows that effective ability
to function properly in turn higher
competitiveness can be achieved.
The one of the significant resource
that is found in it includes having
the precise financial analyst and
market researcher in turn to get
appropriate compliance with the
organizational requirements.
Type here:
From the assessment it can be
mentioned that the products
delivery channels comprise the
significant using of supply chai
network that can directly connect
with targeted audience. This is
identified that connecting with
customers is as well done by
having the reliable contact with
other retailers so that greater
market share can be covered.
Cost Structure
What are the most important costs inherent in our business model? (think about fixed and
variable costs). Which resources and key activities are most expensive?
Is the business model more cost driven (helping the customer save money) or value driven?
Is there an opportunity for economies of scale?
Type here:
In the current working pattern of the cost it can interpreted that it will focus on using the
cost leadership strategy for the inclined cost of marketing and value adding (Cost
Leadership Strategy, 2022). This will help in gaining competitive edge to uplift the overall
profitability of the organization.
Revenue Related
What value are our customers willing to pay for? What are they paying now? How do they
currently pay and how would they prefer to pay? How much does each possible revenue
stream contribute to overall revenue? How might we price this product or service e.g.
subscription, fixed or variable pricing, pay in advance, PayPal?
Type here:
The revenue can be obtained by having the using the payment strategies as mentioned.
This will give emphasis on offering the credit facility with the deed of paying within 5 days
can incline the revenue.
End of page 6
Page 10

Business Model Canvas Version 3: Reflection (Maximum 400 words for the page)
Iterative Journey: How has your idea changed since the last version of your
Business Model canvas? How have your assumptions changed? What evidence
have you gathered during the last few weeks to support your initial assumptions
about your business idea or to challenge those assumptions? What do you know
about your target customers now that you didn’t know at the start of the module?
Type here:
The different form of he aspect which has been changed by me in the current
business plan so that effective ability to operate in the market can become possible
(Anderson, 2019). The assumption that has been involved by me is that all the
homemade producers are interested to be the key partners. In addition to this, I
came to know that previous assumptions are still constant. This is related with
achieving the competitive edge I came to know that there are various aspects
which are supportive for the initial assumptions regarding that conducted survey
has helped me to evaluate that targeted audience that is interested in the
organization. In addition to this, it can be articulated that target audience are
helpful in accomplishing the higher profitability & sustainability can be received.
The targeted audience are ready to pay more money for having the organic
products so that effective approach to meet the market demand in precise manner
that was unknown in the initial for me.
Competitor Insight: What is the difference between a ‘direct’ and ‘indirect’
competitor? Who are your businesses main direct competitors? Who are the main
indirect competitors, and why? Which other business are ‘analogues’ e.g. offering
service in a similar way but to different customers, or trying to reach the same
target customers with a different product or service? What have you learned from
a competitor(s) or analogue (s) that has informed your business idea? How is your
product or service different or better than your competitors, how will it stand out
from the crowd?
Direct competitors refer to those who have the similar qualities in the products
offered by different organization (Cowan, 2020). On the other side, the indirect
competitors are associated with the two or more organization that are offering the
distinct products but has the similar objective attracting the customers of same
market. the indirect competitors are the all operators such as body shop, etc. who
have the objective of targeting the audience. This helps in gaining the corrective
insights that organization can achieve the similar form of the audience respect to
meet their organizational objectives. The analogues are those who have their own
start up at small level and try to cover the local market in order to accomplish their
objective of higher profitability ad sustainability.
I have learnt that it is important to possess the competitive benefit is important to
overcome competition. Our products are different from the other competitors
which involves higher quality with competitive edge.
Cost & Risks: What are the biggest risks or obstacles in delivering your project and
how might you reduce or overcome them? What type of funding might you need for
your venture and where might you source this?
Type here:
The biggest risks which involve higher competitions that can be reduced by having
higher marketing strategy. Crowdfunding can be used to have higher profitable
situation in market (One of the world’s most challenging retail markets, 2022).

Business Model Canvas Version 3:
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