Using the customer development process and adopting the lean start-up methodology, this course aims at providing students with knowledge, tools and methodologies to design and validate their business model
But first, let us start by asking what exactly is a business model?
Let’s first look at the official definition :
A business model is a plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing.
The Business Model can be built into a framework called the ‘Business Model Canvas’ and described as how a company, as a system, is made of the different parts. In other words, how do the different pieces of the business fit together. So the business model has to do with the way you design your customer, your communication channels, your distribution channels, your network of suppliers, and how you make money. So how you earn money and you build your revenues. In particular, I would like to talk about the framework that we are going to use this week in order to decode and interpret fashion and luxury brands. And that is designing the business model according to four drivers, four pillars. The first one answers the question “Who?” Who are our customers?
At the end of this course, participants will be able to:
- analyze a business model and assess its internal functioning;
- Identify assumptions underlying a business model and plan actions to test them;
- develop a business model out of a given business idea.
The participants will also be introduced to four different business models that are commonly found within the fashion space.
The Business Model Canvas
Four Business Models in Fashion