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    Course: Digital Business Innovation Project: Hamley'S

    Uploaded by

    Arunima santhosh
    The document provides instructions for a project assignment for Hamley's digital business innovation course. It outlines three assessment criteria: 1) updating the business model canvas with an image, 2) describing the digital innovation process in text, and 3) evaluating the performance of a digital business with metrics and analysis in text. For criteria two, the response suggests expanding to new customer segments through online platforms like Amazon to sustain revenue during the pandemic. Metrics proposed for criteria three include feedback, unique visitors, and sales to analyze the strategy's effectiveness. The performance evaluation finds increased sales, revenue, and customer segments, indicating the sustaining approach achieved the goal of maintaining Hamley's position in the market.

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    Course: Digital Business Innovation Project: Hamley'S

    Uploaded by

    Arunima santhosh
    727 views7 pages
    The document provides instructions for a project assignment for Hamley's digital business innovation course. It outlines three assessment criteria: 1) updating the business model canvas with an image, 2) describing the digital innovation process in text, and 3) evaluating the performance of a digital business with metrics and analysis in text. For criteria two, the response suggests expanding to new customer segments through online platforms like Amazon to sustain revenue during the pandemic. Metrics proposed for criteria three include feedback, unique visitors, and sales to analyze the strategy's effectiveness. The performance evaluation finds increased sales, revenue, and customer segments, indicating the sustaining approach achieved the goal of maintaining Hamley's position in the market.

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    digital innovation

    Original Title

    DigitalBusinessInnovation_Arunima

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    The document provides instructions for a project assignment for Hamley's digital business innovation course. It outlines three assessment criteria: 1) updating the business model canvas with an image, 2) describing the digital innovation process in text, and 3) evaluating the performance of a digital business with metrics and analysis in text. For criteria two, the response suggests expanding to new customer segments through online platforms like Amazon to sustain revenue during the pandemic. Metrics proposed for criteria three include feedback, unique visitors, and sales to analyze the strategy's effectiveness. The performance evaluation finds increased sales, revenue, and customer segments, indicating the sustaining approach achieved the goal of maintaining Hamley's position in the market.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    727 views7 pages

    Course: Digital Business Innovation Project: Hamley'S

    Uploaded by

    Arunima santhosh
    The document provides instructions for a project assignment for Hamley's digital business innovation course. It outlines three assessment criteria: 1) updating the business model canvas with an image, 2) describing the digital innovation process in text, and 3) evaluating the performance of a digital business with metrics and analysis in text. For criteria two, the response suggests expanding to new customer segments through online platforms like Amazon to sustain revenue during the pandemic. Metrics proposed for criteria three include feedback, unique visitors, and sales to analyze the strategy's effectiveness. The performance evaluation finds increased sales, revenue, and customer segments, indicating the sustaining approach achieved the goal of maintaining Hamley's position in the market.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 7
    At a glance
    Powered by AI
    The key takeaways are that Hamley's needs to focus on sustaining its business during the pandemic by extending its customer base through increasing online sales and outlets. It also needs to work on improving revenue generation.

    Collaborating with online platforms like Amazon to increase online sales and reach out to middle class customers in developing economies. This would help extend Hamley's customer segment and boost revenues.

    Total number of feedback received, total unique visitors, and number of sales. These metrics would help analyze customer responses, new customers, and sales performance.

    COURSE: DIGITAL BUSINESS INNOVATION

    PROJECT: HAMLEY’S

    Instructions for the submission:


    ● Please maintain the following: Font - Times New Roman, Font Size - 12, Line Spacing
    - 1.5

    S.No. Assessment Submission Marks


    Format

    1 Value creation through business model canvas Image 22 marks

    2 Digital innovation process Text 18 marks

    3 Evaluating performance of a digital business Text 30 marks

    Project Maximum Marks 70 marks


    1. Updated business model canvas

    Your Add the image of your business model canvas here


    Answer
    2. Digital innovation process

    Your Answer Write your answer here


    Competitor analysis-
    Hamley’s have a good reach to their customers but also there are many
    other toy brands existing in the market. Here we have to keep a point in
    mind it is that Hamley’s have most of its reach to the upper classes.
    Which is a drawback during this time. So here we should try to focus on
    middle class in the developing economies and also can put some more
    product lines where they can be sure to get profits. In this way there
    reach to customers will extend. What they can do is that they can launch
    many online platform advertisements like to collaborate with amazon.
    They have to invest in these area because their mainly focus usually on
    in store purchases.
    Why have I suggested this method is because for a better alternative in
    revenue sector. Because of pandemic revenue sector has been affected
    So we can try to extend our customer segments by increasing our online
    outlets.
    This scheme very much relates to the value proposition because once we
    join with amazon or other online platforms then we can make sure to
    have quality distributors which will deliver the toys at their door step
    safe and making sure it maintains it high quality. And 2nd point is easy
    return which amazon usually does smoothly and if Hamley’s want they
    can set up their trained distribution channels to keep pa better track.

    This is a sustaining innovation I would say because as of now our main


    focus here is to try and sustain our company and try to increase revenue
    as much we can to be able to maintain its reputed name. As I have done
    a deep study of this case and I learned that at current scenario company
    has been hand over to reliance so here we are very much trying to be just
    sustain our company.

    3 Evaluating performance of a digital business

    3.1 Add the three metrics and reasoning behind selecting them here

    From the data given three metrics I check on would be-


    i) total number of feedback received- because we have applied a
    sustaining innovation strategy here so we need to check with responses if
    its positive, negative or neutral. This is a very important base I feel like
    we would know where do we stand in customer segment and also how
    much we have been able to persuade or satisfy their needs.
    ii) total unique visitors- as our strategy is focusing more on expanding
    its reach to customer segments so it’s very important to know how many
    new users have checked our item or ordered it.
    ii) no. of sales- this is an important aspect because we need to know how
    our strategy is working and we can understand that better through our
    sales.
    iii)
    3.2 Write your answer here

    Conversion
    - no of final sales/no. of foot falls
    - 1,60,00,000/1,26,00,000*100
    - 126.9%
    Average revenue per transaction
    - Total revenue/total no. of transactions
    - 1,60,00,000/4,00,920
    - 39.90 INR
    % of repeated transactions
    - no. of repeated transaction/ No. of total transaction/*100
    - 1,23,894/ 4,00,920*100
    - 30.90%
    Inferences
    i) no of sales is more than the number of unique visitors
    ii) no of sales is more than the no of transactions
    iii) no of transaction is more than the repeated transactions
    Summary
    So as we can see we got a little bit of an increase in revenue. We applied
    a sustaining innovative method so I think we stood on that basis. Our
    main aim was to maintain our value and position in the market. And for
    that we tried an online selling method keeping corona, our current
    situation in mind so online platform was suitable according to the
    surrounding and mainly to our value proposition model it was suitable.
    Our main job was to extend our customer segment and through our data
    we can understand that there’s an increase in the customer segment.

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