51EE Creativity assignment year 1
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B2B Strategy
Acting in business markets, deciding over marketing: approaching business partners, creating value propositions, making pitch and to negotiate.
Situation
This part takes into consideration your hotel’s strategy. You have selected the strategy for your hotel, which gives the input for your decisions regarding your unique value propositions, their marketing channels and distribution channels.
Goal
Your hotel must have a USP (Unique Selling Proposition) and you must be able to pitch it. The goal of the pitch is to introduce and explain the Value Proposition of your business model and the functioning of the whole model (other blocks). The Customer Segment is your choice. The pitch is aimed at the owners and/or potential investors. In any case you need to explain your VP thoroughly and the rest of the Business Model as well: how is the VP brought to life and delivered to the Customer Segment. Through negotiating your main goal is to keep your VP as close to planned as possible and stay within the budget.
Task, deliverable
The product/service of a company is nowadays generally referred to as Value Proposition (VP). The more unique it is, the more likely you will acquire a substantial market share of your customer segment. For your unique product or service, you most probably need some sort of investment. You might need to build something, outsource some services or hire people with special skills. We advise Value Proposition Canvas to summarize your VP.
Build your VP on the paper, visualize it and fit it in your business model (Business Model Canvas could be used). The negotiation is made tougher by the time window. You only have 7 minutes to reach the deal. If the deal is not reached within the given time, the team loses some valuable points. Further Instructions and Recommendations Find materials and resources on the basic structures and steps for negotiating. Use suitable literature or websites.
Some hints for structure:
1. Goals 2. Summary of how you got “there” (to the negotiations) 3. Risks 4. Questions 5. Alternatives 6. Influencers
Assessed elements
Value Proposition, The Pitch and Negotiations. By the end of year 1 you will have to have made a video pitch of maximum 1 minute. The pitch must show your USP (aka VP), its ball-park budget numbers and its integration into the business model.
Further Instructions and Recommendations Use suitable literature or websites to analyse the background, set objectives, and plan the budget for bringing your value proposition to life. Give all sources. Write in a concrete and serious way, as to show knowledge on the subject.
Handing in
Upload your work anywhere in the cloud (Dropbox e.g.: do not e-mail).
- Add a links to your value proposition, pitch and negotiations’ memo to your Team File in the cell Extra Information.
- Be sure that these are public.
- Copy the link (only the link, not the document or content) and put it in your Team File before the deadline. Tab Year 1-2-3-4, D47: 'Extra information'. Furthermore, all other relevant information for your coach is welcome in this cell as well!
- Be sure the file is freely accessible without logging in or anything, just a click on the link should open it!
Additional information
- Stakeholders
- Distribution
- “Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers” by A. Osterwalder & Y. Peigneur
- “Value Proposition Design: How to Create Products and Services Customers Want” by A. Osterwalder & Y. Peigneur
- “Negotiating” by R. J. Lewicki
NB! This list is not an exhaustive list! Do find additional materials and concepts that add benefit to your approach!
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