Changes In The Product Offerings

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Changes In The Product Offerings

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Changes In The Product Offerings

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Question:
Discuss about the Changes In The Product Offerings Of The Business

Answer:

Introduction
One of the most important issues for the organizations in the contemporary business environment is the gaining the sustainability and competitive advantage. The business companies suffer the issues related to sustainability in the organizations since they have to face a tough competition all over. It has been noticed that the business organizations have to change the system in the organizations and manage their employees for the betterment of the organizations. The competition has become so intense that the business owners need to come up with new ideas every now and then so they can make their business sustainable and profitable. The gaining and sustaining of the competitive advantage has become one of the most important considerations for the organizations. The industry that will be focused on is the consumer goods industry. The evidences from this industry show that this industry has gone through several ups and downs over the past decade. The change in the organizational systems has been one of the major concerns to be focused on by the management teams. The products and services offered to the customers in this industry will have to be modified as well. In this paper, the essential things will be discussed like the generation of the new business ideas that will cater to the needs of the organization in a better way. The idea should be much constructive and innovative and it should cater to the needs of the consumers properly.
Business idea generation
The generation of the new business ideas in almost all the industries has become a very important thing for the organizations and the business owners (Massa & Tucci, 2013). The business idea that has been generated in order to progress with this paper is the plastic containers that would be biodegradable. The friendliness with environment has been given the most priority in this aspect. This is why the business owners in the consumer goods industry would look to improvise this kind of product to be launched in the market. The customer convenience will be the most important thing in for bringing the proper sustainability into the business. The slim plastic bottles will be designed that could help to contain water for people of other ages. The plastic contents that are generally used can be very harmful for the health of the users (Amit & Zott, 2012). The consumer goods industry will aim to expand their business into Europe and thus make the modifications properly. The invention of this new product will need the industry to modify some important issues. If this new product is launched in the international markets, this will cater to the needs of the consumers in a big way. The customer preferences in Europe will have to be considered properly as well. Thus the industry can proceed with a proper amount of investments from the stakeholders and preferences of the customers properly.

The proposed business canvas model
It is very important to prepare a business canvas model for the chosen business idea to be developed here in this section. The performance of the business could be evaluated by the rate of acceptance of the customers. The nine building blocks of the business canvas model would be discussed here (Amit & Zott, 2012). The key activities in the business are very important for the business idea to reach its desired targets. The most important actions that will be taken in order to gain the competitive advantage are considered as the key activities. The different things that are offered through the products are the value propositions (Ng & Rezaee, 2015). The value propositions go very much with the consumer demand within the market. The core competencies in the market are increasing so the business will need to implement some strategies to cope up with the several issues. The business owners will look to prepare the product with the plastic materials that do not have any toxic material in it. The health related issues will have to be kept in mind by the business while preparing this product properly. The customers will be able to use the biodegradable products to prepare it (Galea, 2017). The business owners in this industry can think of some ways to connect with the customers and ask for their feedbacks relating to the structure of the bottle. The customer relationships can be identified by the use of the social media platforms and the ways the owners can be able to gain the trust of the customers. The steady relationship with the customers will help this business idea to thrive and develop in a better way (Schneider & Spieth, 2013). As this is a startup business, the number of customers is smaller. This is why the business owners will need to maintain a steady interaction with the customers. If they succeed to gain the customer satisfaction in this business, this will cater to their success. This will build a very healthy relationship between the customers and business owners. The customer segments for selling this product could be identified by the culture and social sections of the customers. The profession of the customers will also help to determine the customer segments as well (Hill & Brierley, 2017). The potential customers should be the household people and the health conscious people.
The distribution channels for the products are also very significant factors for measuring the success of the business idea. The concerned industry can gain the benefits by applying the various strategies for the improvements (Hill & Brierley, 2017). The promotions through the social media platforms could be effective as the distribution channels of their products. The various mobile apps and websites could be taken as the most important channels. The organization can also make the promotions through the different social media platforms like Facebook, Instagram, Google+, Twitter and others (Chaffey & Ellis-Chadwick, 2016). If they want to expand into the global market, they will need to make the proper market survey for reaching out to those customers. They should arrange for the seminars with the customers and want their valuable feedback so they can improve their products with much care and attention. The business owners of this generated idea should overcome the social and technological barriers to come up with a feasible business (Armstrong et al., 2015). The chief resources are the brand value of the industry and make sure that the product is available in the market all over the country. The cost structure and the revenue streams are very useful for the success of the business. The relevant costs for the business have been very important for the business to succeed. The business owners should take this matter consideration and ensure the cash flow is perfectly executed for the betterment of cost structures (Muhtaroglu et al., 2013). The revenue streams are the online sales through e-commerce platforms and retail sales. The cost structures will depend on the corporate taxes to be paid to the government, advertising and marketing costs, rental costs for maintaining the offices, wages of the employees and many more (Bansal & DesJardine, 2014).
Approaching the sustainability
The sustainability of the business idea is very important and this will depend on the ways how the target audience of the product will receive it. The importance of the product will be the primary thing for the success of the business idea (Tiago & Veríssimo, 2014). The makers of these eco-friendly products should always use the environment friendly technology. However, the plastic used by this business industry for preparing of the bottles can degrade the environmental conditions and disrupt the feasibility of the business idea (Trimi & Berbegal-Mirabent, 2012).
Reflecting the entire process
I would like to reflect on this topic for the development of the business idea. The new business idea will help the customers and provide the needed benefits to them. After evaluating the entire process, I can say if the customers can utilize the benefits of the environment friendly materials, this will help them in a big way indeed. If the entrepreneurs can prepare the consumer friendly bottles, this will cater to the health benefits of the customers as well. I believe the industry will expand to a large level indeed. The industrial performance can be enhanced through the through the expansion of the business. I believe the motivation from the leaders will also help the industry to thrive more. I worked with the entrepreneurs of this business idea and had to visit the workshops in which the plastic bottles are made. I am quite satisfied with this process and I believe I should praise this idea.
Conclusion
Finally this paper can be concluded by saying that this business idea is very relevant to the current environmental context. The steps that have been taken to enhance the business operations can prove to be very much fruitful indeed. The innovative business idea has the capacity of becoming successful. The business model canvas for this business will be very much beneficial for the betterment of the performance in te business. The environment friendly plastic bottles will be helpful for the users in the most ways. The quality improvement of the products will be beneficial for the health conscious people in the country.

References
Amit, R., & Zott, C. (2012). Creating value through business model innovation. MIT Sloan Management Review, 53(3), 41.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
Bansal, P., & DesJardine, M. R. (2014). Business sustainability: It is about time. Strategic Organization, 12(1), 70-78.
Chaffey, D., & Ellis-Chadwick, F. (2016). Digital marketing. Prentice Hall.
Galea, C. (Ed.). (2017). Teaching business sustainability: From theory to practice. Routledge.
Hill, N., & Brierley, J. (2017). How to measure customer satisfaction. Routledge.
Massa, L., & Tucci, C. L. (2013). Business model innovation. The Oxford Handbook of Innovation Management, Oxford University Press, Oxford, 420-441.
Muhtaroglu, F. C. P., Demir, S., Obali, M., & Girgin, C. (2013, October). Business model canvas perspective on big data applications. In Big Data, 2013 IEEE International Conference on (pp. 32-37). IEEE.
Ng, A. C., & Rezaee, Z. (2015). Business sustainability performance and cost of equity capital. Journal of Corporate Finance, 34, 128-149.
Schneider, S., & Spieth, P. (2013). Business model innovation: Towards an integrated future research agenda. International Journal of Innovation Management, 17(01), 1340001.
Tiago, M. T. P. M. B., & Veríssimo, J. M. C. (2014). Digital marketing and social media: Why bother?. Business Horizons, 57(6), 703-708.
Trimi, S., & Berbegal-Mirabent, J. (2012). Business model innovation in entrepreneurship. International Entrepreneurship and Management Journal, 8(4), 449-465.

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