iprc-group-act-6

[iprc-group-act-6]

Business Model Canvas

Filled: Revenue Streams

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Questions to Ask:

For what value are our customers really willing to pay?

Our service/product is very budget-friendly for our customers. When they avail of our service/product we will ensure that what they pay is worth it because we have top-rated tutors to help them, good quality modules and reviewers for their guidance, and review friendly environment for them to be motivated. If our customer/reviewee fails to pass the board exam and if they want to avail again our service/product. We will give them a free service for them to be motivated again and willing to pass the board exam.

How would they prefer to pay?

We will have two types of payment for them to choose what they prefer to pay. First is online payment. These payments usually consist of the transfer of monetary funds from a customer’s bank, debit, or credit card account into the seller’s bank account in exchange for products or services. The second option is cash payment, which they can do directly by coming to our facility and paying for our services.

How much does each Revenue Stream contribute to overall revenues in terms of percentages of the total?

20% of our revenue comes from enrollment fees, 30% from sales of printed modules and books, and the other 50% comes from refresher fees.

Lesson Learned

A revenue stream is the various sources from which a business earns money from the sale of goods or provision of services. Revenue is what keeps your business alive. Beyond being a lifeline, revenue can give you key insights into your business. If you want to increase your business profits, you need to increase your revenue.

Documentation, Summary, and Changes in Canvas

Google Meeting Code: vpd-ipjb-rwm Date: April 6, 2022 | 9:00pm | Wednesday Duration of Meeting: 1hr and 40mins

Attendees (Complete):

Bote, Herchelle Aubrey P.

Panesa, Jana-Vi Nixie Pauline A.

Talavera, Diether R.

Villamor, John Paul H.

Meeting Flow:

Before we meet, we study the whole business model canvas, so that the sharing of ideas is continuous.

We talked about every segment in order according to the arrangement of activities, so that we can track what next segment would be done.

We also talked about some changes in the customer segment.

When we are already satisfied in our progress, we disseminate the tasks.

Minor Changes:

Customer Segments - At first we have three (3) customer segments which are: Students, Reviewees, and Returnees. Then in the 2nd meeting for filling up the value proposition segment, we remove “Returnees” in our customer segment because we notice that the service that we will provide for Reviewees and Returnees are just the same. Then, after some realizations and experience from one of our members, she suggested removing “Students” in the customer segment because combining it with Reviewees is not ideal, especially for creating a Community with them. Only the Students will gain in the community with Reviewees but the Reviewees only gain from their Co-Reviewees but none from Students. It will not function well if they are combined with each other. That leaves us focusing on one customer segment which is “Reviewees”.

Value Proposition - Upon creating the value proposition, at that time we combine “Reviewees” and “Returnees” as they share the same pains, gains, and services, that’s why at first we have two (2) value maps and customer profiles for each customer segment which are “Students” and “Reviewees”. But after the changes in Customer Segment of removing the “Students”. We strikethrough the words in blogsite associated with the “Students” segment as it is not included anymore and leave only the “Reviewees” value map and customer profile.

After that, no changes happened until we finished the whole business model canvas up to Cost Structure.

Members and Their Tasks

Bote, Herchelle Aubrey

Activity 9: Key Partners

Activity 10: Cost Structures

Panesa, Jana-Vi Nixie Pauline A.

Activity 7: Key Resources

Activity 8: Key Activities

Business Model Canvas Illustrations

Talavera, Diether R.

Activity 4: Customer Relationships (Additional Questions)

Activity 5: Channels

Activity 6: Revenue Streams

Villamor, John Paul H.

Activity 2: Customer Segment (Additional Questions)

Activity 3: Value Proposition (Additional Questions)

All members contribute to creating the website.