Value proposition
The way(s) a product or service benefits its target customers and the statement describing it.
The business model canvas is a modern alternative to a traditional Business plan.
A business model canvas is made up of 9 blocks that have key details about the business, its customers, and how the business provides value to them.
The left half of the canvas contains Back of the house details on how the business will operate. The right half of the canvas contains Front of the house content about who the customers are and how the business will engage and interact with them. The two halves meet in the middle at the value propositions section.
The 9 sections of the business model canvas are::—:
The way(s) a product or service benefits its target customers and the statement describing it.
The groups of people a business aims to serve.
The interactions a business has with customers and the strategies around those interactions.
Distribution channels are how products and services get from a business to its customers.