Description of business products With The Help Of PESTLE Analysis And Venture Typology - Management Assignment Help

Assignment Task -

Description of business product: 

The main aim of the business product is to develop a textbook exchange service which will help the students in the universities who need assistance for the books and will not have to buy new ones. According to Merga & Mason (2020), the cost of purchasing textbooks almost every year is averaged to be around $1,089. The aim for this is basically to provide a reasonable and affordable way which can help the students to buy and sell the textbooks which will assist in creating a system to match the students along with the books that they are looking for. This will be made in such a way that the students will have a working app inside the university where they will be given with this network to facilitate the textbooks. 

This is a radical innovation as there are not a lot of business models that exist in such a way for the students. There are traditional shops which offer and gives this service but not a lot of them, so eventually, the students will have to purchase the books and then let all of that stuff borrow it to someone else for a lesser price. However, this will make sure that the students are getting the best of the services at a great price. 

Venture Typology

As per the innovation matrix, the business model is somewhat related to that of the semi-radical as this will revolutionise the traditional processes of innovation. There also will be sustainment in the innovation for the sustaining innovations and will radically increase the sales among the students. 

Innovation Matrix

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