Moving Services Business Venture

Moving Services Business Venture

I will focus on creating a successful moving services business venture. I will use business model canvas elements to grow the venture and increase profitability. One of the elements is customer relationships. The moving services business requires customer trust, including being around people’s personal space and handling personal and sensitive products. According to Musnadi (2018), trust is essential in building customer loyalty and satisfaction. Customer trust includes believing in a brand and feeling safe in purchasing from a brand because it portrays honesty in its operations (Cardoso et al., 2022). Therefore, I will ensure that my staff is honest and transparent in sharing information with customers. I will also use segmentation to improve my organization’s marketing efforts and create a large customer base. George (2021) argues that segmentation enables organizations to concentrate their marketing efforts on a specific group of potential customers to gain a competitive advantage within the customer segment. I have selected the middle-income segment, but other segmentation demographics may be considered based on changes in customer needs, preferences, and trends in the moving services market.

Key activities will be the third element I will use to grow the business venture. I need to establish the business’s main services, such as packing, cleaning, relocation, and transport, to ensure that customers understand what to expect from us. I will also create a cost structure to control financial resources within the business. According to Gunarathne & Samudrage (2018), cost information is vital in setting realistic budgets. I can then use the budget as an estimate when looking for capital to start and sustain the business. I will also use value propositions to create a competitive advantage. In addition, Bailetti et al. (2020) argue that value proposition is vital for new ventures because it helps resource owners and investors predict a business venture’s success. I will create a value proposition by offering customers high-quality, affordable, confidential services to create value over competitors.

References

Bailetti, T., Tanev, S., & Keen, C. (2020). What makes value propositions distinct and valuable to new companies committed to scale rapidly? Technology Innovation Management Review, 10(6), 14–27. https://doi.org/10.22215/timreview/1365

Cardoso, A., Gabriel, M., Figueiredo, J., Oliveira, I., Rêgo, R., Silva, R., Oliveira, M., & Meirinhos, G. (2022). Trust and loyalty in building the brand relationship with the customer: Empirical Analysis in a retail chain in northern Brazil. Journal of Open Innovation: Technology, Market, and Complexity, 8(3), 109. https://doi.org/10.3390/joitmc8030109

George, R. (2021). Market segmentation, targeting, and positioning. Marketing Tourism and Hospitality, 221–246. https://doi.org/10.1007/978-3-030-64111-5_7

Gunarathne, N., & Samudrage, D. (2018). Analysis of the Cost Structure: Perspectives from the Manufacturing Companies in Sri Lanka. Asia-Pacific Management Accounting Journal, 13(3). https://doi.org/https://www.researchgate.net/publication/331674546_ANALYSIS_OF_THE_COST_STRUCTURE_PERSPECTIVES_FROM_THE_MANUFACTURING_COMPANIES_IN_SRI_LANKA

Musnadi, S. S. (2018). Customer relationship management, customer satisfaction and its impact on customer loyalty. Proceedings of the 7th International Conference on Multidisciplinary Research. https://doi.org/10.5220/0008892606920698

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File Choose Your Business Assignment and Rubric.pdf (526.798 KB)
In this unit, you will begin the work for your final course project. To begin, you will choose a hypothetical new business venture that you will develop throughout the remainder of the course, leading up to your big presentation to (hypothetical) investors at the end!

Moving Services Business Venture

Select a business from the provided list below:
social media manager
event planning
insurance agent
accountant
retail store
home inspector
blogger
moving services
commercial cleaning services
web developer
computer repair
real estate agent
In a brief essay (approximately one page or 250-300 words), provide your selected business venture and share how the use of the BMC can help your new business succeed. Be sure to properly cite any resources used in APA format. See the attached grading rubric.