Analysis of Plattar's Business Model and its Use of Augmented Reality

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Business Model Deconstruction
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Executive summary
This report summaries the Charles Tyrwhitt business model to evaluate the effect of augmented reality.
The business model of Charles Tyrwhitt consists of nine components. Charles Tyrwhitt model describes
element such as values, interrelationship, key activities, revenues, profits and so on. These elements
help an organization to enlarge the organization and cover maximum market to generate more
revenues.
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Contents
Executive summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
A. Business model....................................................................................................................................5
1. Customer segment..............................................................................................................................5
2. Key partners........................................................................................................................................5
3. Value proposition................................................................................................................................5
4. Key activities........................................................................................................................................6
5. Channels..............................................................................................................................................6
6. Revenue streams.................................................................................................................................6
7. Cost structure......................................................................................................................................6
8. Key resources......................................................................................................................................6
9. Customer relationship..........................................................................................................................6
B. Interrelationship................................................................................................................................8
C. Critical success factors.......................................................................................................................8
D. Downside risk..........................................................................................................................................9
E. business model changes..........................................................................................................................9
Conclusion.................................................................................................................................................10
Recommendations.....................................................................................................................................11
References.................................................................................................................................................12
Appendix 1: Charles Tyrwhitt business model...........................................................................................13
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Introduction
In February 2017 plattar an augmented reality app builder established. It is established by Rupert
Deans. Rupert Deans and his team were working in a saas (software as a service) platform before
launching it.it allows their customers to experience the real scale of the products. It guides its
customers to purchase a product or not. Platter provides a platform for retailers and brands to sell
their products. In other words, we can say platter is the platform where businesses and
individuals can deal with each other. Augmented reality is used in enhancing experiences. It
provides services such as launching products with 3D augmented reality, empower customers to
visualise the products.
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A. Business model
Plattar is an app builder and content management system based on augmenting reality. Augment
reality provides a clear picture of a product using 3D techniques. Nowadays online shopping is in
the trend and people often get confused about the quality and nature of the product. Plattar
provides a clear picture of a product and it is beneficial for both customers and sellers.
1. Customer segment
As plattar provides a platform to the customers to visualise the products more clearly and it
shows the key features of product hence it is very useful for every segment of customer. It is
very easy to use so the people who are not much familiar to the new technologies and
innovations can use this application (Wall, 2018). Plattar is the first in this industry who gave
such an amazing idea and it perfectly fits the needs of the sellers and customers.
2. Key partners
plattar is partnered with many Brands, sellers and retailers. The customer does not need to go to
the store to purchase the products. It has partnered with a lot of businesses and organisations to
give the customers better services and experiences.
3. Value proposition
plattar provides a high quality of the services to its customers. It adds custom pages and web
views, creates configurations, and build loyalty (Ranjan, & Anand, 2017). It uses h or produces
its products. To get high technologies to deliver better services to its customers. The value of
platter is providing services with good quality and provide maximum satisfaction to customers.
4. Key activities
The company is using high technology in order to provide better services to its customers. The
company is updating its operations and technologies in order to provide the best platform to
businesses and customers. It helps out multiple businesses as it creates activations, brings
together their products, improves raw 3D content, adds product information pricing and links,
adds images and videos.
5. Channels
The company provides services to its customers over the internet through the application. It
allows sellers to upload their products in bulk with the pricing, images videos and customer can
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purchase the products by visualising a clear picture of the product and the features of the
product.
6. Revenue streams
Plattar is enhancing readily and making a profit since it is set up. Although there were many
deficiencies in the management the company took major steps in order to generate profit and to
survive in the long run overcoming these challenges the company started to make profits and
revenues (Kirshner, 2019). This company is the first company in its nature consequently it is
facing minor competition and generating huge revenues.
7. Cost structure
The company is investing in new technologies and hiring unskilled employees who are familiar
with the new technologies and can make new innovation in the software. The company is also
investing in the attractive design, images and videos to increase the sales of the products of the
seller. Innovative technologies and innovation in their services have been taking place to cover
more market attracting more customers.
8. Key resources
Plattar creates new methods to visualise and understand the universe with augmented reality.
Using 3 dimension technique it makes the product more visual and contextual (Van Loon, et. al.,
2018). Nowadays most of the businesses provide the facility of online shopping and it is tough to
build a long-lasting relationship with their customers, platter empowers brands to create a long
lasting relationship with their customers.
9. Customer relationship
Platter helps the customers to choose the right products according to their needs. Customers can
see the videos and images of products in order to determine the quality of the product and can
make the right decision regarding the purchase of the product (Wall, 2018). It helps businesses in
keeping their products together, highlighting the key features and increasing their sales.
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B. Interrelationship
Platter Company is partnered with a lot of businesses, organisations, industries, retailers, sellers,
manufacturers. The company provides its services over the internet. These interrelationships with
other organization help out the company to make a huge profit. These interrelationships help out
the company in attracting more customers and building the image of the company. In a few years
company has covered the maximum market of Australia (Ranjan, & Anand, 2017). From the
very beginning, the company was making a profit as it was based on the idea of augmented
reality. Platter is the best company for the customers as it provides the reality of the product and
helps them in making the correct choice. It gives a platform to the sellers to showcase the key
features of their products.
C. Critical success factors
The success factor of Plattar Company is augmented reality. Augmented reality 3D is new and it
uses the new technology which gives a better picture of a product. It is the best platform where
sellers and customers deal with each other. Most of the businesses provide shopping over the
internet. If the picture is not clear and does not have the key features of a product clearly then it
involves returning cost, shipping cost and so on (Kirshner, 2019). Through the services provided
by the company manufactures can directly deal with the consumer, it helps them in removing
intermediaries or mediators and also reduces the cost of the product. The company uses high
technologies to provide better services to its customers. Platter is helpful in making or creating a
long-lasting relationship with the customers and the expansion of sales.
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D. Downside risk
Plattar faced various challenges like a strong competitor in the same market and these companies
attract customer by offering service at less price. New entrant companies are the barrier and
create a significant problem to survive. The company make its unique place in the same platform
where several other companies are offering the same service. The significant risk is how to deal
with a daily new competitor who comes with the latest technology. Platter considers new
techniques and operating system for developing the application. Another issue is security. It is
the most insecure industry because it contains lots of information. Due to facing these
challenging factors, Plattar makes its standard on the same platform. The primary issue faced by
the company is labour turnover. The reason behind is that the developer always wants to work in
the different and latest technology for enhancing their skills (Ranjan, & Anand, 2017). This issue
becomes a barrier to company growth as well. The risk in adopting new technology as well
because the latest technology requires experienced developer and their demand rate does not
match with the company norms. Due to these issues and risk, the company was not able to
generate more revenue as per this it cannot invest in other technologies and innovation.
E. Business model changes
Due to these risk and issues, Platter changes its business model for surviving in a long time in the
industry. Company start adopting new technologies and new operating system which reduce the
effort of the developer, and they can enhance their skills in some other techniques. Plattar creates
a stable position in the app development market by which it reduces the impact of a new
competitor in the market (Wall, 2018). Plattar changes its policies and provide its service
inefficient cost to attract the number of custom and create a loyal customer by offering good
quality of services. Company start investing in the global technologies and the operating system
which enhance the growth in the market start promoting its business by various means such as
participate in online promotional events, live chat shows, collaboration with other IT companies
etc. Change in the business model requires pre-information through which employees and
customer both are ready to accept as soon as possible. Plattar maintains an excellent relationship
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with its employees by which it can understand what the expectation of employees is. If it is
clarified by mutual understanding, adopt it or leave it. Company start recruitment from on
campus. On campus provide a candidate who has good innovative knowledge and have creative
ideas of developing strategies. The recruitment based on the need of employees if it requires an
experienced employees company must invest the same amount of fund on the individual.
Existing situation of the company is it raise fund over innovation and technologies.
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Conclusion
In this report, the business model, success factors, risks and interrelationship of Platter Company
have been covered. Platter Company is the company of Australia based on augmented reality.
This report encloses the explanation regarding how a company launches and how it operates.
Critical analysis of key activities, value channels, revenue, and the cost has been done (Van
Loon, et. al., 2018). Platter Company uses new technologies to deliver services to its customers.
It gives a better platform to buyers and customers to deal with each other. It is helpful for both
sellers and customers. The company assists the buyer in introducing the product and keeping all
the products together with the key features and it helps out the buyers to make a right choice by
showing the pictures and videos of the products.
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Recommendations
 The false advertisement should not be done
 Should invest in new technology.
 Should not mislead the customers by showing false features.
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References
 DiFilippo, D., Martin, Jim, & Davidson, Jeffrey. (2015). An Economic and Financial
Deconstruction of the Commodity Streaming Business Model, ProQuest Dissertations and
Theses.
 Ranjan, P., & Anand, P. (2017). The 2016 Model Indian Bilateral Investment Treaty: A
Critical Deconstruction. Northwestern Journal of International Law & Business, 38(1), 1-
54.
 Kirshner, Jonathan. (2019). Monetary Orders: Ambiguous Economics, Ubiquitous
Politics. Ithaca, NY: Cornell University Press.
 Long, P., Limbu, Y., Bui, T., Nguyen, H., & Pham, H. (2019). Does e-learning service
quality influence e-learning student satisfaction and loyalty? Evidence from
Vietnam. International Journal of Educational Technology in Higher Education, 16(1),
1-26.
 Wall, Cynthia. (2018). Recent Studies in the Restoration and Eighteenth Century. Studies
in English Literature, 1500-1900, 58(3), 731-803.
 Van Loon, Patricia, Delagarde, Charles, & Van Wassenhove, Luk N. (2018). The role of
second-hand markets in circular business: A simple model for leasing versus selling
consumer products. International Journal Of Production Research, 56(1-2), 960-973.
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