Discussion 2: Creating Customer Value

Discussion 2: Creating Customer Value

Small business first: Corporate event planning

Small business second: Wedding event planning

Business Model Canvas

Key Partners:

• suppliers, government authorities and all the people involved in the business are the key partners (Ejaz, Sajid & Waqas, 2019).

• Both the businesses include food and decoration suppliers, and Government agencies

Key Activities: Offers best quality event and food management

Key Resources: 

• Corporate event: provides event services to corporations and offices, including theme parties.

• Wedding event: provides event, decoration and food planning for weddings

Value Propositions: 

• Corporate event: offers theme based unique event services

• Wedding event: offers specialized traditional and ethnic style weddings

Customer-Relations:

• High customer engagement in both the businesses

• Both the businesses provide great value proposition, thus, have long term customer relations

Channels:

• Direct distribution of the product and services to corporate clients and wedding destinations

Customer Segments: 

• Corporate offices

• Families

• Groups

Cost Structure:

• Food material

• Decoration material

• Crockery and Utensils

• Event team members

• Transportation

• Housekeeping and maintenance

• Health and safety measures

• Venue cost

Revenue Streams:

·       Corporate event: 5 to 7 thousand dollars per event (consisting 50 people approx.)

·       Wedding event: 10-12 thousand dollars per wedding (consisting 50+ attendees)

Value proposition is very essential aspect of any business, especially the competitive businesses like event planning (Scriven & Orpilla, 2017). The value propositions of both the businesses are different because one deals in professional atmosphere and other deals in traditional and ethnic approach of event. Bothe the businesses provides unique customer value propositions in their products and services.

It is very difficult to choose one business with greater value proposition. Still, the wedding event can be considered as most value propositional considering its traditional and ethnic approach of event planning.

References:

Ejaz, Z., Sajid, U. A., & Waqas, M. Z. (2019). Event planning and management system (Doctoral dissertation, Department of Computer Science, COMSATS University Islamabad, Lahore campus).

Scriven, T., & Orpilla, D. (2017). U.S. Patent Application No. 15/338,307.

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Hi,Pietra
I am very excited to know about your swimming pool business ideas. This is a very innovative approach of starting a business by adding sustainable and environmentally friendly business practices. Best of Luck.