Today's marketing class was a continuation of the business model canvas. I haven't learned about these theories before, that was why I listened very closely and tried my best to understand. We focused on business model patterns. There were many business models such as un-bundling business model, long tail, multi-sided business model and open business model.
The thing is, we must not try to cover all areas in business because we will lose focus and spend just way too much money on things that will not work out! Instead, we should try to focus on one aspect such as service excellence but try to integrate this value with other values like product innovation and infrastructure management. This is what un-bundling business model is all about. When I ponder about it again, I think that 'well, it really make sense!' The same goes to our personal life. We have to make our priorities! Whether we want to focus on education, career, love life or relationship with family. Of course all these things should be present in our daily life, but there will absolutely be one aspect that overgrown the others.
While last week's lecture was about the basic principles of business model canvas, today was about the application of business model canvas to different types of business model patterns. We were taught about how the business model canvas looks like when it is applied in long tail business model pattern and so on. Our Miracle Recycle business can be considered as long tail business model pattern since it caters the niche market. It takes lots of time to earn revenue because we have to plant the idea of environmental concern into our target market. Currently, it is still not much but in the near future, we are sure that it will become a big hit in Indonesia.
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