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Reflection on Changes in Business Model Canvas (BMC) Segments across Generations
Michelle Bennett
SNHU
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Reflection on Changes in Business Model Canvas (BMC) Segments across Generations
The company's value propositions and customer segments underwent significant changes
over different age groups in the simulation. At first, the emphasis was on offering a fundamental
product to a wide-ranging customer base. Nevertheless, as the enterprise progressed, the value
propositions grew more tailored and addressed distinct customer requirements, like
sustainability, personalization, and ease. Consequently, the customer segments also transitioned
from a general market strategy to more specialized and focused segments that matched the
changing value propositions. For instance, in subsequent generations, the company targeted
environmentally aware consumers with eco-friendly products and concentrated on business users
with adaptable solutions.
The Effect of Decisions
My choices were pivotal in moulding the alterations in value offerings and consumer
demographics. Initially, I focused on cost-effectiveness and expandability, resulting in a more
standard product and a wide-ranging customer foundation. However, as the simulation advanced,
I acknowledged the necessity for distinctiveness and a competitive edge. Consequently, I took
strategic actions to allocate resources towards research and innovation, delve into fresh materials
and manufacturing techniques, and obtain input from customers. These determinations allowed
the organization to craft exclusive value propositions customized to individual customer
requirements, ultimately causing a transformation in consumer demographics.
Explore Your Decisions
When making these choices, I considered various factors, such as market trends,
competitor analysis, and customer insights. I realized that solely relying on a low-cost approach
would not be sustainable in the long run as competitors caught up and customer preferences
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changed. Moreover, I assessed the company's strengths, resources, and capabilities to pinpoint
areas where we could set ourselves apart and offer unique value propositions. This assessment
guided me to invest in innovation, sustainability, and customization, aligning our products with
evolving customer needs and positioning the company for future success.
Reflecting on my decisions, I made the right calls in the simulation despite facing
challenges and making trade-offs. Shifting from a mass market strategy to more targeted
segments required significant investments and operational adjustments. Though it was quite a
risky strategy, in the end, it proved to be beneficial for the company as it gave the competition
the much-needed push, also carved out a niche for itself with the commoner, and, last but not
least, saw continuous growth. Responsiveness, being able to change our business model to match
future market changes and customer needs, was an important factor in its success. Though some
managerial decisions and strategies could be improved on or alternatives considered, our
decisions helped us differentiate ourselves, serve the customers, and put the firm in a highly
competitive market in the long run.
