Digital Product Blueprint Essay

The following paper is about a company that is at the top level of their industry in selling their products and services. The background of this company describes about what kind of company this is and the types of products and services it provides to their customers. This section also includes the recent performance of this company and the varying aspects of what their target customers and whose is the competition.

I currently work as a retail sales associate at Maurices, a retail clothing chain that sells women’s clothing, shoes, and accessories. There are over 900 stores, the majority of which are often found in small towns across the United States. Maurices serves a wide range of customers between the ages of 18-40, sizes 0-24, and has a variety of clothing options ranging from casual to dressy and everywhere in between. The company prides itself on being “simply the best hometown specialty retailer,” with a focus on “customer obsession.” From their product offerings to their return policy, down to the very people they employ in their stores, Maurices certainly takes into consideration every minor detail and strives to deliver an excellent customer experience for shoppers. However, in the business of retail clothing, there is always room for improvement in order to set yourself apart from competitors, attract and retain customers, and drive up revenues.

Marketplace live business Simulations is an educating game focusing on real life business and marketing environments. The game allows students to implement their own business ideas and strategies allowing for them to experience consequences or positive outcomes that follow their decisions. This manual outlines the business ideas and changes that Prestige PC’s made while selling their products globally to compete with their major competitors.

As members of Chester F73524, we see ourselves as the biggest player in the low-tech industry. This is a direct result of the competitive advantage that we possess. By making heavy investments in fixed assets early in the simulation, we have been able to create a low tech product to be reckoned with; one that is characterized by sizeable contribution margins, high accessibility and awareness, and a premium price. As a result, we have achieved an industry-high contribution margin of 45.3%. Furthermore, through our investments in the TQM module and automation, we have been able to greatly reduce the production costs associated with producing our low tech product, Cake. Decreasing the R&D cycle time has allowed us to have our product in the ideal position for a longer time. We believe our competitive advantage is sustainable for the rest of the simulation, as we plan on keeping our low tech product for the entire length of the game. Thus, we will capitalize on the benefits of having low labour costs as a result of our high level of automation, and on the benefits of having low material, overhead, and administrative costs, resulting from our investments in TQM.

When starting out on this project, I was planning a module for District 95’s consumer education course. The goal was to bring a blended learning or distance learning opportunity to the students within the District. While planning and designing this module, many different aspects came up. Who will be implementing this module, how long will it take the learners to get through the module, how does this module compare to the face-to-face classroom, how will this module be implemented, and what will be in place for a backup plan in case the technology component fails. Throughout this paper we will be taking an in-depth look at each of these aspects, in order to give a clear picture of this module.

Simplicity is achieved and true knowledge of business practices are obtained through the rigors of understanding terms and concepts such as: production levels, cost maximization, fixed and variable costs, opportunity costs, revenue and total costs curves, etc. These terms not only provide a basis for business operation, they also provide a competitive edge for the determined entrepreneur who seeks to understand the anatomy of business and its language. In hindsight, week two discussed many of the terms above and allowed team

During the SimVenture I have learned that to survive a small business, various steps must be followed. Our first errand was to conducts the statistical surveying so as to comprehend the diverse times of customers within the simulation. Since we had a sensible measure of money, we chose to commission an expert to provide us with the market research. We did same for our competitors. Once we have completed out market research, our first key choice was to choose which market fragment we will target. In picking which section to target we considered various variables, for example, the demand size, business sector size and the price range that would help us maximise profit. As indicated by our item 's highlights we decided to focus on the ICT organizations. Our second key choice was to proceed onward to the cost of the item and the

In 1999, with the release of his book “Business at the Speed of Thought” Bill Gates attempted to enlighten the world to the fact that in order to succeed and become leaders in the future, businesses throughout the world would have to implement digital technology. The book itself is written entirely from Mr. Gates’ point of view. He wrote it in response to a number of requests from multi level business managers, organizational and corporate leaders, and IT professionals that wanted to know more about digital technology, and what he called a “digital nervous system”, which he claimed would help information flow.

Secondly, this report will discuss the technical, logistical and organizational competencies of the company and compare them against current economic and technology trends. Finally, the report will provide a proposed e-business

The company also provided with the document describing their business model which helped us to analyse their strategy. It showed how the company has adapted to the changing requirement and has gained market share over the years.

The primary aim of this process was to form part of a group whilst utilising and becoming accustomed to the sophisticated computer software, SimVenture. The software is used throughout various organisations and academic institutions as a means of allowing participating team members to develop a refined skillset, focusing on how to succeed in the virtual start-up of a computer manufacturing business. (SimVenture, 2015)

Our aim- to engage with SimVenture; a business simulation that allowed us to build and sell computers through our virtual company named ‘Genesis’. The formation and running of our virtual company integrated us with new venture creation and about being an entrepreneur. It reinforced concepts previously presented in our course lectures and engaged us in a competitive and volatile business environment. SimVenture ran for three virtual years with five members on its team- each with a different role in the company.

Through using SimVenture for the past 7 weeks I have gained an insight into the mind of an entrepreneur. Before playing this game I had never experienced any sort of business whether in real life or in a game-like situation. This game takes you through a variety of scenarios that occur in an everyday business world including finance, organisation and marketing. Depending on the scenario the computer business would be at different stages in their life. We would go into each scenario with tasks and targets to meet using the information we had been taught in the lecture. From setting up a business in SimVenture I have found the three most important lessons to be; the importance of organisation in a business and understanding individual’s strengths and weaknesses, the significance of operations within a business and lastly how essential finance is when creating and running a business. Throughout this reflective summary I will analyse the significance of these lessons and the silks I have learnt. In addition I will describe how they have helped me strengthen my knowledge which will help me in my future.

During the business simulation course, we organised a team to become an automotive start-up company and introduced four new products, vehicle models, to satisfy the investors who invested us £500M. Each 4 rounds, we had entered board room to report our initial result and upcoming plans.

* Price: though we have to import our product and it will cost little bit high initially when we will be running at small scale. Best effort should be made to keep the price as low as possible. Another challenge is that, as we are keeping the price low customers might assume it