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Pages:
1 page/≈275 words
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Style:
APA
Subject:
Business & Marketing
Type:
Coursework
Language:
English (U.S.)
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Topic:

Business Model Development and Prototyping

Coursework Instructions:

Answer each of the following questions with a minimum of 50 words.
Business Model Development
1. Discuss how human-centered design assists with the development of your business model.
2. Describe the key items management will likely seek answers for in your specific model. Why would management need to focus on those elements?
Prototyping
3. Choose a service or product currently in development. You may choose your own product or service for this discussion. Describe the prototype developed for that service or product.
4. How might a business learn about a proposed process improvement through a prototyping activity? What is the fundamental purpose of a prototype? Provide a specific example.

Coursework Sample Content Preview:

BUSINESS MODEL DEVELOPMENT
Student’s Name
Institution Affiliation
Course
Professor’s Name
Date
BUSINESS MODEL DEVELOPMENT
Question 1
Human-centered design is the philosophy of solving business problems to enable organizations to focus on customers' specific demands. Human design strategy provides quality services to customers and targets product development exertions. Human-centered design plays a crucial role to help in the development of the business model. According to Lepeley (2019), it increases sales and support representatives to our customers, creating more profits for the organization. Sales and support representatives help the organization customize solutions promoting personalized reactions and strengthening customer relationships.
Question 2
Management needs to focus on the specific elements to enhance the development of the particular business model. First, the business model needs to identify its target audiences by defining whom they serve with its product or service. After determining the target group, the business will easily explore its historical beliefs and specific assumptions to help evolve a healthy relationship (Lepeley, 2019). Secondly, the business model needs to determine its essence directly from the marketing strategy or brand dev...
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