Category: Business and Management

  • Marketing Plan for Chocolate Bliss’s New Product Launch Marketing Plan Strategy for Chocolate Bliss: Maximizing Profitability and Brand Awareness


    Competencies
    In this project, you will demonstrate your mastery of the following competencies:
    Apply elements of the marketing mix to inform business decisions that support organizational objectives
    Determine appropriate marketing and communication distribution channels
    Explain how marketing decisions are made to target the consumer
    Scenario
    Chocolate Bliss started as a small, family-owned store in Seattle, Washington in 1976. While once a boutique chocolatier selling handmade “secret family recipe” chocolate bonbons, the company today has a wider variety of product offerings including boxed chocolate candies, chocolate baking products, and carob (chocolate alternative) candies and health bars. Chocolate Bliss products are sold online and in their stores to consumers and to other businesses, specifically grocery stores, throughout the Northwest.
    The company has maintained its “secret family recipe” brand even as it has expanded its product offerings, and today enjoys strong brand awareness in the states where it is sold.
    The company’s primary competitors are:
    Ghirardelli Chocolate Company
    Chocolate Bliss’s higher-price range baking products, sold to grocery stores, compete directly with Ghirardelli.
    Chocolate Bliss also competes with Ghirardelli for its boxed chocolate candies sold in their stores and online to consumers, and sold to grocery stores.
    Nestlé
    Chocolate Bliss’s mid-price range baking products, sold to grocery stores, compete directly with Nestlé.
    Rise Bar
    Chocolate Bliss competes with Rise Bar for its carob (chocolate alternative) products sold in their stores and online to consumers, and sold to grocery stores.
    Chocolate Bliss is financially healthy and has plans to expand into the midwestern United States. This expansion will include the launch of a new product.
    You have been with the company for a few years and have been selected to be on the team that will develop a marketing plan for the new product launch. The executives at Chocolate Bliss will use the marketing plan to make decisions about how to best use the marketing budget to ensure a successful product launch, so you need to have sound research and reasoning to support your work that will contribute to developing a marketing plan. You also realize that the marketing plan is not just about a successful product launch; it is about building the Chocolate Bliss brand and positioning the company strongly against its competitors, especially when it comes to price point.
    Directions
    Product Selection: Begin by selecting which product you want to be the basis of your entire project. Specifically, choose one of the following products:
    Gourmet truffles with fruit, herb, and flower extract infusions
    Semisweet chocolate baking chips
    “Healthy” carob (chocolate substitute) bars
    Then, based on your product selection, complete the components below, which will contribute to the development of a marketing plan. You will use the Marketing Plan Strategy Template in the What to Submit section to help structure your marketing plan submission.
    Persona (Target Market): Research the target market (potential buyers) for your chosen product to develop a persona. Specifically, address the following:
    Conduct target market research to identify key demographic and psychographic characteristics.
    Develop one persona that represents users of your chosen product. Use the Module Two Milestone Worksheet in your Soomo webtext to create your persona.
    Draft this portion of the project as part of the Module Two milestone, and after you receive feedback from your instructor, revise your persona as needed for inclusion in your project submission.
    Promotion: Recommend marketing communication channels for your chosen product. Specifically, address the following:
    Recommend two marketing communication channels for your chosen product. Briefly describe each and explain why they are appropriate based on your persona.
    Draft this portion of the project as part of the Module Four milestone, and after you receive feedback from your instructor, revise your marketing communication channel selections as needed for inclusion in your project submission.
    Price: Consider how pricing for your chosen product should be set. Specifically, address the following:
    Explain how one of the following is used to determine the approach to pricing for any offering.
    Company profitability
    Competitor pricing
    Target market price sensitivity
    Identify which one of the four basic pricing strategies you feel is most appropriate for your chosen product and persona from the Module Two milestone. Describe the general advantages and drawbacks of that pricing strategy.
    Draft this portion of the project as part of the Module Four milestone, and after you receive feedback from your instructor, revise your pricing strategy selection as needed for inclusion in your project submission.
    Place (Distribution Channels): Consider how decisions on distribution channels should be made. Specifically, address the following:
    Describe how one recent change in the marketplace (e.g., purchasing habits or social, economic, and political events) has affected distribution of products.
    Recommend one potential distribution channel for your chosen product and explain why it is appropriate, given your persona.
    Draft this portion of the project as part of the Module Five milestone, and after you receive feedback from your instructor, revise your distribution channel selection as needed for inclusion in your project submission.
    Product: Identify considerations for the ways in which your chosen product should be marketed. Specifically, address the following:
    Explain, in one to two paragraphs, how your chosen product should be marketed in relation to meeting the needs and wants of your persona (e.g., the features and benefits of your chosen product that directly address your persona’s needs and wants).
    Consider how a product you regularly purchase is marketed in terms of consumer needs and wants. What is the marketing message, and what other methods are used to convey the benefits of the product? Use this as a guide to describe how you would suggest marketing your chosen product to your persona.
    Describe, in one to two paragraphs, how bringing this product to the marketplace can help support and build the company’s brand.
    Describe the Chocolate Bliss brand based on the scenario. Explain how offering your chosen product is in alignment with the brand, and how bringing the product to the marketplace will help the company increase awareness of its brand.
    Evaluation: Identify how you would evaluate the effectiveness of the marketing plan. Keep in mind that you need to collect data on the target market and the competition.
    Identify two specific quantitative data-collection tools you should use and explain, in two to three paragraphs, how they can help you evaluate the marketing plan. Quantitative data comes in the form of numbers.
    Identify two specific qualitative data-collection tools you should use and explain, in two to three paragraphs, how they can help you evaluate the marketing plan. Qualitative data comes in the form of words and sentences.
    What to Submit
    To complete this project, you must submit the following:
    Template: Marketing Plan Strategy Template Word Document
    Submit this template as a Word document. Your submission should be no more than 4 pages in length. Sources should be cited according to APA style.

  • “Analyzing the Financial Impact of a New Equipment Investment – A Cash Flow Analysis in Excel” Cash Flow Analysis for a Small Business “Financial Analysis and Amortization Schedule for a Mortgage Loan” “Mastering Personal Finance: Loan Amortization and the Power of Compound Interest” “Maximizing Retirement Savings: The Power of Compound Interest”

    Starter File: A6 Starter.xlsxDownload A6 Starter.xlsx
    For the past few chapters we have been teaching you the fundamentals of Excel (like basic formatting and the proper usage of absolute and mixed cell referencing) and we are now counting on you to remember them and use them throughout the remainder of the semester. For instance,  if you create a formula or a series of formulas that could use Mixed referencing but you instead use Absolute referencing even though it isn’t required then you will lose a point or two even though the step may not explicitly state to “Use proper cell referencing to do blah…”. Also, we are counting on you to know how to format cells with big numbers and/or those containing money. Also, please make sure to double-check your submitted file to make sure that you submitted the file that you meant to. If you submit an empty or almost empty file and we grade it, you will end up with a score that corresponds to what you submitted. An empty file will result in a score of 1/50.
    The Beverage Holder division at Armstrong Manufacturing is looking into a new piece of equipment that was developed in Europe to manufacture their new insanely hotline of Zeusy Tumblers more precisely and less expensively than the current technology being used at Armstrong. The cost of the machine plus installation is estimated to be $93,925. The projected cost savings are expected to be $2.08 per tumbler (put this positive value into B13 on your starter file).
    You have been asked to estimate a projected cash flow analysis that will be generated by this proposed project over the next four years. Will this cost expenditure be a good idea? Will the purchase of it be a good idea this year? How about 4 years down the road? How will the cost of this loan affect their cash flow over the next 4 years?
    Complete the following:
    1. Download the starter file and name it A6 LastName FirstName.xlsx (where LastName is YOUR last name and FirstName is YOUR first name).
    Formatting: As far as how to format the numbers on this CashFlow page, Please use Accounting format with two decimal places and $ signs on the summary rows (rows 6, 17, 20, and 23). All other cells should be accounting with NO $ signs and 2 decimal places. There is no requirement to use the ROUND formula to round any numbers in this assignment unless specifically asked to do so (like in step 2).
    Also, for most of the financial calculations in this module, there is a parameter at the end of the formula called “Type”. This parameter tells the formula whether the loan payment is timed to be made at the end of the loan period (parameter setting = 0) or at the beginning of the period (parameter setting = 1). For the purposes of this course, for simplicity sake, always assume a value of 0 (except for the extra credit problem where you use the value of 1). 
    2. (3 pts) The sales volume for the first year is estimated to be 2,083 units. Enter this value into C4. This value is projected to rise by 41% each year. In the Name Manager section of the Formula ribbon, create a named range called ProjectedGrowth that refers to this value of 41% (without referring to any actual cell that contains that value). In cells D4, E4, and F4 create formulas that calculate the estimated sales volume for each subsequent year. Since it is an estimate it should be rounded to the nearest 10. For example, if your formula in D4 estimated a sales volume such as 3008.7, your round function would be round this calculated value to 3010. Note that all values should be calculated by formulas for full credit! 
    The selling price for the first year (cell C5) is estimated to be $22.03 and is projected to rise by 3.5% each year due to inflation. Note that the values should be calculated by formulas and the 3.5% should be another named range named “Inflation”. The selling price values for years 2, 3 & 4 should be rounded, not just formatted, to the nearest penny (to 2 decimal places as opposed to nearest 10 like in the previous paragraph for the Sales Volume!).
    Calculate the Gross Revenues for the 4 years in cells C6:F6.
    3. (4 pts) Enter the values of -$11.93 for the cost of goods sold in B10, -$0.83 for the marketing cost in B11, -$1.24 for the shipping cost in B12. The purchase of this equipment is expected to cut your manufacturing costs by $2.08 per tumbler so enter that amount into cell B13. Note this is a POSITIVE number since it is additional new money coming into the company. For formatting, do not include the $ signs in these cells, I provided them here just for the clarification (that the costs (B10:B12) are negative dollar amounts and the savings (B13) is a positive dollar amount). Please note that some of these values are negative and some are positive due to their cash flow directions.
    For each of these rows 10-13, calculate the yearly costs associated with each item out into columns C through F.  If you create your formula in C10 correctly, with proper referencing, that formula will be able to be copied down and across to F13!
    4. (6 pts) In cell C15, calculate the cumulative interest expense for year 1 (the interest portion of the 12 loan payments for the corresponding year). You should reference cells J3 through J7 as needed as opposed to hard-coding values into your formulas. Assume the loan will start at the beginning of year 1, and all payments will be made at the end of each period. Write your formula so that it can be copied across the row to automatically calculate these values for years 2 through 4. Make sure to format the cells so that they are accounting format with 2 decimal places, no $ signs and that negative numbers appear in parentheses. For instance, (2582.92)
    5. (4 pts) Depreciation: The equipment is assumed to have a 5-year life with a salvage value of $55,000 at the end of that 5 year period. You will use the Straight Line Depreciation (SLN) formula in cell C16 of your cashflow worksheet to do this.There is a separate worksheet named Depreciation that contains the cells needed for this depreciation calculation.  First name each of the cells containing the original equipment cost (B3), the salvage value (B4), and the expected life of the equipment, B5, as Capital, Salvage and Life respectively. For the “Capital” cell, B3, have this cell refer to cell J3 on the CashFlow worksheet so that if the loan amount changes on the front page this depreciation calculation automatically updates as well. 
    After naming these 3 cells, back on the cash flow worksheet on row 16, calculate the depreciation for this new equipment using the Straight Line depreciation method.
    As in the prior step, make sure to format the cells so that negative cashflows are calculated as negative numbers and appear in parentheses. Hint, these values should be negative (and identical numbers!) since we get to deduct the cost of the depreciation of this piece of equipment for each of these 4 years.
    6. (5 pts) On the cash flow worksheet on row 17, calculate the Taxable Income for all years. For a particular year, this will be the Gross Revenue in row 6 as well as all of the costs and costs savings in rows 10-16. You can just include all rows C6 through C16 in your SUM function. Make sure to format the cells and create the formulas so that negative cash flows are calculated as negative numbers and appear in parentheses. If you get all of the cash flow directions correct then all you SHOULD have to do here is simply SUM the cells in rows 6 through 16 for each year to get the right taxable income!
    7. (4 pts) Corporate Income tax calculations: If you add up the current federal and the Florida state income taxes for a business these days, the tax rate can be roughly approximated at 33%. This value is already included in cell B18 for your convenience.
    On the CashFlow worksheet, on row 19, for each year, calculate the corporate income tax that would be owed for each year by multiplying the tax rate by the taxable income. Please keep in mind that IF (Hint: it sounds like you’ll need an IF statement here) your taxable income for any given year is 0 or a negative number you will owe $0 in taxes. If you have a POSITIVE value for the taxable income you will owe that 33% of your income to the government. Create the formula that accomplishes this and copy it across to F19.
    8. (4 pts) In row 20, calculate the income after taxes for each year. Make sure to format the cells so that negative cash flows are calculated as negative numbers and are formatted to appear in parentheses.
    9. (6 pts) Complete the worksheet by (in row 21) adding back in the depreciation that was previously deducted. Then in row 22, calculate and add in the cumulative principal payments for the corresponding year in order to arrive at a final projected cash flow estimate for each of the four years. Use the correct absolute/mixed/relative cell referencing so that your formulas will work for each of the cash flow years by referring to the Loan Information cells in J3 – J7. Make sure to format the cells so that negative cashflows are calculated as negative numbers and appear in parentheses for example…  (17,012.04)
    In cell C23 create a formula that finalizes the Projected Cash Flow for each year by adding C20 through C22. Copy this formula to the right for all years.
    10. (10 pts): Amortization Schedule:
    10.1 As we may or may not know, you CAN get a mortgage with a zero/non-existent credit rating so it is a myth that you “have to go into debt in order to build your credit rating”. However, if you DO have credit cards/loans etc. and you do have a credit rating, the better your credit rating you have, the lower your interest rate on your loan. To this end, cell B2 contains text that you should put in to indicate your current credit rating (either Poor, Fair, Good or Excellent). For the purposes of this exercise put in the word Good (not case sensitive).
    (10.2) In cell B4 now create a VLOOKUP formula like you have done a few times this semester that takes that value, finds it in the lookup table contained in cells G2:H5 and returns the second column of that table that contains the interest rate needed for the remainder of this exercise. You will need to include the last parameter that indicates an EXACT lookup.
    (10.3) Cells B2:B7 contain all the input data needed for this exercise. You will need to change the Loan Duration (yrs) cell B4 in a later step but make sure to change this cell back to 30 prior to submission your grader will be looking for values associated with a 30 year loan.
    (10.4) In cell B9 create a formula that calculates the monthly payment for input values provided. Format cells B3 & B9 with Accounting format with $ signs and 2 decimal places.
    (10.5) Per the video demonstrating how to make an Amortization Schedule (FSU Spreadsheets Lesson6 Level2 Part1) create a formula in B12 that references B3 and format it for Accounting and 2 decimal places (with a $ sign since it is on the top row)
    In cell B13 create a formula that adds B12 to the value in D12 (the formula for D12 will be calculated in a step below. Wrap this formula in an IFERROR formula that will return a 0 in case either B12 or D12 return an error. Format D13 as Accounting with no $ sign and copy it down to 360th pay period (row 371).
    (10.6) In cell C12 create a formula that, for the 1st payment, calculates the amount of interest that is paid on that monthly payment. Wrap this formula in an IFERROR so that if the formula returns an error it will return a 0. Copy the formula down from C12 to the bottom of the table (row 371). Format C12 as Accounting with $ signs and 2 decimal places. As we have done on prior assignments I only want the $ sign on the top row of this table so format C13 on down as the same but without the $ sign.
    (10.7) In cell D12 create a formula that, for the 1st payment, calculates the amount of principal that is paid on that payment. Wrap this formula in an IFERROR so that if the formula returns an error it will return a 0.
    Copy the formula down to the 360th payment period.
    Format D12 as Accounting with $ signs and 2 decimal places. Format D13 on down as the same but without the $ sign.
    (10.8) In the totals row at he bottom of your masterpiece in B372 copy the formula down from B371 so that B372 adds the last monthly remaining principal in B371 to the principal paid in D371. If you do everything right to date that value should calculate to a value of 0 since the amount remaining at the end of the loan SHOULD be 0!
    (10.9) It the adjoining cells C372 and D372 create formulas that sum the above cells in the amortization schedule. C372 will add up all of the interest that you paid over the life of the loan and if you performed all of your calculations correctly then D372 should equal the original loan amount. For both of these values ROUND these values to the nearest 1 cent (2 decimal places).
    (10.10) In cells E2:E5 We want to compare and contrast the amount of interest we will pay for 4 different loan durations. Using the copy and then paste special values function that we learned back in Module 2, copy the Total Interest Paid value from C372 and paste just the value into E5 so that E5 contains the interest paid on a 30 year loan. Change the loan duration in cell B5 to 20 years and then copy the freshly recalculated interest paid amount in C372 and paste it’s value into E4. Repeat for loan durations of 15 and 10 years into E3 and E2 respectively.
    (10.11) Please give some thought to how much interest you will pay on a 30 year loan vs a 15 year loan. The quicker that you can pay off your loan, the sooner you truly be in a position to win with money. Life without a house payment is a truly liberating feeling that you can have sooner than you think if you make wise decisions along the way!
    11. (4 pts) On the sheet titled Personal, the Armstrong Manufacturing wants to make sure that all of their employees know how important it is for their future that they know some basics about personal finance. According to bankrate.com, the average car payment in America today is now up to an astounding $735/month (for 68 months!). This is up from $579/month just last year. How much is that car payment costing you over the course of your life? Calculate what you would have in your retirement account if you instead of paying the bank that amount each month, you instead invested that $735/month into a mutual fund that gains 10% annually for 40 years. Remember that since that $735 is flowing away from you, that value in B1 should be a negative number. Assume that the payment is made at the end of the month (i.e. again make the “type” parameter = 0). Hint, don’t freak out if the amount that this perpetual car loan is WAY OVER $4,000,000!!! I wish I had learned this when I was your age 🙂
    Now for some fun (and stretch your algebra skills a little lol): To help visualize how much money this is, you need to calculate how many stories tall this huge pile of money wasted on car loans woule be. I found that 1 million $1 bills is 4,300 inches tall. Given that fact, in cell B12 calculate how many feet tall your future stack of money will be if you don’t blow it on car loans. Format B12 to be Numeric with comma and 2 decimal places. In cell B14 create a formula that tells me how many stories tall this pile of money is. Round (nor just format) this value to the nearest whole number (0 decimal places).
    The following example doesn’t use the exact numbers but illustrates the math for you. If B6 is $4,000,000 then that would be 17,200 inches or 1,433.33 ft tall. At 10′ per story that would be a 143 story building!
    If I had only listened to Einstein when he stated “COMPOUND INTEREST IS THE EIGHTH WONDER OF THE WORLD. HE WHO UNDERSTANDS IT, EARNS IT. HE WHO DOESN’T, PAYS IT.”: 
    Step 12 – Extra Credit! Yet ANOTHER EXTRA CREDIT OPPORTUNITY – 5 points: As an example of how the compounding of interest can benefit you greatly, especially at an early age, see if you can figure out the following:
    Zeus, on his 20th birthday started investing $2,000 annually on his birthday for just 9 years into an account earning 10% interest per year. If he doesn’t put in another penny after that initial 9 years, how much will he have in 40 years (at the ripe old age of 60)?
    However, Ken, like most folks, found things to spend his money on besides saving for his retirement for a few years. Let’s say that he didn’t start investing that $2,000 until his 29th birthday. Even if he put in the whole $2,000 for the next 32 years how much will you have at the age of 60? What is the difference and what should you do in order to take advantage of this mathematical phenomenon? For this extra credit you will have to show your work and how you used the future value formula to figure out the path to success.
    I used to do this in class so you can watch the F2F lecture for 2 different ways to do this one. You can do either one. You don’t have to do both.
    Option 1) Create formulas in cells C4:C44 to come up with Zeus’ total when he wants to retire then repeat in cells G4:G44 to see how much Ken will have upon retirement. In cell K6 calculate the difference between the Zeus’s and Ken’s strategies.
    Option 2) Create FV formulas in cells I3, J3, and K3.  In cell K6 calculate the difference between the Zeus’s and Ken’s strategies (cells J3 & K3).
    FYI… If you do both options 1 & 2, J3 should have the same number in it as C44 and K3 should be Ken’s total in G44.
    Also, remember to set your “type” parameter to 1 for this Extra Credit.
    11. Save and close the A6 – Cash Flow LastName FirstName.xlsx workbook. Submit this file into this assignment. Please note that if you put it into the wrong bucket, or you submit the wrong file, it will not be graded or may be graded as a 0 without the opportunity to make it up so please follow through with your assignment and verify that you uploaded what you meant to and it went where you meant it to go. There are too many of you for us to try to guess what you meant to do!

  • Title: “Navigating the Pandemic: Lessons for Companies on Supporting Working Parents”

    Research the effective of the pandemic on working parents. What can companies learn from these challenging times? How can those learnings inform organizational decisions moving forward?

  • “Synthesizing Peer-Reviewed Sources for Doctoral Study Development: An Annotated Bibliography” Introduction: As a doctoral student, it is crucial to conduct thorough research and use reliable sources to develop a strong foundation for your study. In this annotated

    In each week of this course, you will research and select three (3) peer-reviewed, scholarly sources to develop an annotated bibliography that you can use in your Doctoral Study. You will need to take the three sources and synthesize the references into a single narrative annotated bibliography that compares/contrasts or supports your study. For example, you may develop three references that will fit into the Nature of the Study (or any other component) and then the synthesized version will help you in developing your Prospectus/Proposal. Please see this week’s Learning Resources for the Sample Annotated Bibliography Template, which you should use to complete your annotated bibliography.

  • Internal Controls for Cash and Credit Card Receipts at George’s Restaurant

    George Jetson owns and operates a restaurant and catering business which has seen the business show an increase in revenue over the last 6 months.  With an increase in revenues, George realized the expenses would also increase but expected to see an increase in the cash position of the business in the cash position.  The business receives cash and credit cards at the restaurant and also extends credit to customer for the catering business.
    Explain the internal controls George needs to have in place for the receipt of both cash and credit cards for the restaurant.
    Explain which Internal Control Procedure does “completing a bank reconciliation” is associated with.  Explain your choice of procedures.
    Task 1: Create a new discussion topic on or before the due date in the Course Syllabus -> Course Schedule by clicking the ‘**REPLY HERE**’ post below. In your reply, you will post your response to the main topic. Your response should be a minimum of 150 words. Going over the minimum word length requirement is acceptable; however, I am not looking for 500+ words!

  • “The Importance of a Clear Approach for Analyzing and Designing in E-Business”

    Instructions
    Grade weight
    Each Assignment is worth 6% of your total grade.
    Course Objectives
    Identify techniques and tools that can be used to evaluate the driving forces of e-Business
    Prompt:
    Explain why a clear approach for analyzing and designing is required to deal with a complex field. In doing so, discuss at least three of the following aspects: scope determination, scenario classification, global analysis/design, dependency analysis, leading aspect selection, and detailed analysis/design.
    Instructions:
    Response should be approximately 2-3 pages (not counting the cover page and references page), supported with credible references and corresponding in-text citations, all in APA format.
    You must submit your assignment as a Word (.doc, .docx) attachment on the Assignments tab for the week. Assignments submitted in any other manner will not be accepted.

  • Effective Execution and Decision Traps: A Critical Review Summary: In their original thread, my classmate discussed the importance of effective execution, design/focus, and avoiding decision traps in business. They emphasized the need for clear communication, setting SMART

    Week 6 Reply – Effective Execution, Design/Focus, and Decision Traps
    You will reply to
    one of your classmate’s thread.
    Minimum of 250 words in the body.
    Minimum of 2 sources from the literature
    in addition to course texts.
    Use bolded headings below in the reply.
    Current APA format must be used.
    Use
    the following Outline:
    ·        
    Summary –  Sumarize
    the author’s original thread in no less than 125 words.
    ·        
    Critique – Discuss what you agreed with, did not
    agree with and why in no less than 125 words.
    Requires 6 references
    Support your factual assertions with
    citations.

  • “Virtual Art Gallery Experience (VAGE) Balance Sheet and Business Model Canvas” “Virtual Art Gallery Business Model Canvas”

    complete the following: Balance sheet (XLSX 10 KB) which the template is attached
    using teh following information 
    Description of your lean start-up entrepreneurial venture.
    The Virtual Art Gallery Experience (VAGE) is a virtual and augmented reality platform that turns the tradition of visiting an art gallery or showroom into a virtual and interactive experience. Targeting art enthusiasts, collectors, galleries and artists; the VAGE platform revolutionizes the global trade, viewing and enjoyment of art by enabling users to visit global art exhibitions virtually in a 360-degree open environment with interactive elements such as artists’ commentaries and also enable customers to visualise artworks in their private spaces with Augmented Reality (AR) functions.
    The platform is designed to support all prospective customers by providing users with different tour options (through interactive tours offered) education on the different art styles, artists and other pieces of knowledge and also safe for payment, by enabling it through a safe and secure e-commerce payment portal mechanism that builds trust.
    The VAGE is powered by a range of features, such as the game engine integration that allows users to cycle through collections and galleries and view content seamlessly.
    Fees from subscriptions, art sales commissions, tickets for virtual events, advertising and licensing are all revenue streams for the artists and the gallery. For the first time, VAGE democratises access to art, creates more ways for engagement, and opens more entry to revenue for both artists and galleries.
    BMC
    1. Customer Segments
    Art Enthusiasts:
    Individuals who appreciate and explore art.
    Students and researchers of art and art history.
    Art Collectors:
    High-net-worth individuals and art investors.
    Corporate collectors looking for unique pieces.
    Art Galleries and Museums:
    Galleries looking to expand their reach and offer virtual tours.
    Museums who are aiming to make exhibitions accessible to a global audience.
    Artists:
    Emerging and established artists seeking new platforms to showcase and sell their work.
    2. Value Proposition
    Immersive Art Experiences:
    Virtual and augmented reality exhibitions offering a lifelike viewing experience.
    Interactive elements allowing users to learn more about the art and the artists.
    Global Accessibility:
    Access to art exhibitions from anywhere in the world.
    Ability to attend virtual gallery openings and artist talks.
    Innovative Art Sales Platform:
    Secure platform for purchasing original artworks and limited editions.
    Virtual try-before-you-buy feature using AR to visualize art in users’ spaces.
    Support for Artists and Galleries:
    Increased exposure and sales opportunities for artists.
    New revenue streams for galleries and museums through virtual tickets and sales.
    3. Distribution Channels
    Online Platform:
    Website and mobile app for accessing virtual galleries and AR features.
    VR and AR Headsets:
    Compatibility with popular VR headsets for an immersive experience.
    AR features accessible through smartphones and tablets.
    Social Media and Partnerships:
    Integration with social media platforms for promotion and sharing.
    Collaborations with tech companies and art institutions.
    4. Customer Relationships
    Personalized Experience:
    Customized art recommendations based on user preferences and viewing history.
    Personal virtual tours with curators and artists.
    Community Building:
    Online forums and social media groups for art discussions and networking.
    Regular virtual events such as gallery openings, artist talks, and workshops.
    Membership Programs:
    Subscription plans offering exclusive access to premium content and early sales.
    Loyalty rewards for frequent visitors and purchasers.
    5. Revenue Streams
    Subscription Fees:
    Monthly or annual subscription for premium access to virtual galleries and exclusive content.
    Art Sales Commissions:
    Commission on sales of artworks through the platform.
    Virtual Event Tickets:
    Fees for attending virtual gallery openings, artist talks, and workshops.
    Advertising and Sponsorships:
    Revenue from ads and sponsored content within the virtual platform.
    Licensing and Partnerships:
    Licensing VR and AR technology to other galleries and museums.
    Partnership fees from tech companies and educational institutions.
    6. Key Resources
    Technological Resources:
    VR and AR development platforms and tools.
    Secure e-commerce and payment processing systems.
    Human Resources:
    Software developers and VR/AR specialists.
    Art curators, historians, and marketing professionals.
    Content Resources:
    High-quality digital reproductions of artworks.
    Access to a network of artists and galleries.
    7. Key Activities
    Platform Development and Maintenance:
    Developing and updating the VR and AR features.
    Ensuring a seamless and secure user experience.
    Content Creation and Curation:
    Curating virtual exhibitions and creating engaging content.
    Collaborating with artists and galleries to feature their work.
    Marketing and Community Engagement:
    Running marketing campaigns to attract users and promote events.
    Engaging with the community through social media and events.
    Sales and Customer Support:
    Facilitating art sales and managing transactions.
    Providing customer support for technical issues and inquiries.
    8. Key Partners
    Art Institutions:
    Galleries and museums providing artwork and exhibitions.
    Tech Companies:
    VR and AR hardware and software providers.
    E-commerce and payment processing partners.
    Artists and Curators:
    Collaborating artists and curators for exclusive content.
    Educational Institutions:
    Schools and universities for educational programs and research.
    9. Cost Structure
    Fixed Costs:
    Salaries for employees and contractors.
    Lease for office space and development facilities.
    Depreciation of VR/AR equipment and technology infrastructure.
    Variable Costs:
    Marketing and advertising expenses.
    Costs for creating and curating digital content.
    Licensing fees for VR/AR development tools.
    Additional Costs:
    Hosting and maintenance of the online platform.
    Customer support and community management expenses.
    Fees for transaction processing and security measures.

  • “The Winner’s Curse and the Footbridge Dilemma: A Reflection on Decision-Making and Emotions”

    Part I: Recall a time when you experienced a winner’s curse. Perhaps you purchased something for what you thought was a great price but quickly (or later) realized it was not. Perhaps the quality was lower than you thought it was. ?
    What were your feelings at the time of the purchase when it seemed like such a good deal? Compare your initial feelings to what you felt later when realizing that it was not what you thought.?
    Part II: In Chapter 6, you were introduced to the footbridge dilemma, where it prompted you to make a choice of pushing one person in front of a trolley to stop the trolley in order to save the five people farther up the line on the track. What would you do in this situation? What would your motivations be? How would your emotions affect your decision??

  • “Optimizing the Fashion Industry Supply Chain through Technology: A Critical Literature Review”

    In terms of size, we suggest:
    Introduction Chapter                
    2 – 4 pages
    Literature Review Chapter              
    minimum 15 pages
    References in the body of the text, referring to the bibliography
    (APA referencing style)
    – With the following presentation standards:
    • The document should have page numbers.
    • Font size 12.
    • Line spacing of 1.5
    Font: times new roman

    In the Introduction Chapter the following topics will be included:
    Your research topic.
    Rationale for this topic.
    Why this area is important and its relevance to the workplace.
    Your research question
    Rationale for choosing a particular sector, organization, population
    group
    Your Literature Review Chapter: the literature review is the
    foundation of your thesis. This section is the summary of your readings around
    your subject area. In this document you are expected to include summaries of
    research papers you have read and the theories or frameworks you intend to
    utilize in the thesis.  
    The literature review should summarize the key points you have pulled
    together and highlight gaps you intend to address in your research.
    Your literature will be finalized by the framework of your
    research (mandatory). you may present an existing framework, an amended
    existing framework, or your own framework. And you must justify your choice.
    The literature chapter will culminate with the following information:
    Your research question (and sub-questions)
    The framework you have chosen to use. 
    What data will you need to collect to answer your research question? The
    way by which you will collect the needed data will be explained in
    the following chapter – Methodology. We will deliver
    2 specific workshops on Methodology on Sunday, 7 July.
    A plagiarism check will be done on your document, and you will have
    access to the results.
    Tips:
    Chapter 1:introduction
    Tips:
    An executive summary with setting out the
    key question posed and the main structural parts of the
    Thesis: issues, a summary of the major takeaways from the
    literature review, the propositions or hypothesis, the chosen
    methodology, results, recommendations, major limitations
    and/or suggested further research.
    • An interest-creating introduction to the chosen topic and the
    research question, the practical relevance, and benefit to the
    company/ organization in general.
    Chapter 2 : literature review
    Tips
    • A critical literature review chapter
    leading to the propositions – or hypotheses
    (if useful for the research) –
    finalized with a research framework presenting the information
    to be extracted and analyzed from the field of research
    Research question: How can integration of technology optimize the supply
    chain in Fashion industry?
    research question main key words: fashion industry, supply chain in the
    fashion industry, technology in the supply chain industry .
    thesis literature review paragraphs all with references and quote from
    articles/ academic research (What existing theories/concepts are there?
    Helping to list the Factors/Data/Information)
    1-     
    Fashion industry
    a.      
    What is fashion industry
    b.      
    fashion industry
    globally 
    c.      
    fashion industry MENA ( middle
    east) or Qatar region ( last paragraph)
    2-     
    Supply chain in the fashion
    industry
    a.      
    Introduction ( what it
    mean)
    b.      
    supply chain in the fashion
    industry globally
    c.      
    supply chain in the fashion
    industry (middle east ) or Qatar
    3-     
    technology in the supply
    chain in the fashion industry
    a.      
    introduction ( what is it )
    b.      
    technology in the supply
    chain in the fashion industry  globally
    c.      
    technology in the supply
    chain in the fashion industry in Middle east or Qatar
    i.     
    Simulated realty
    ii.     
    Augmented realty
    iii.     
    Spatial metaverse
    It can be change based on the research available