Mhc607 Business Research Methods: Snapchat Assessment Answers

Snapchat Spectacles

1. Persuasive argument of the benefits to be generated by the idea
   3. Discussion of the proposed business model
   4. Critical success factors to be managed during execution of the idea
   5. Evaluation of the feasibility of the idea
   6. Quality of written submission, referencing

The world is growing further into a technological hub with new platforms of innovation cropping in. We have seen the invention of laptops, miniputers worn on the wrist, as well as phones. However, we are on the verge of introducing a pair of glasses into this global community. The glasses determine the mode of communication, the way we view the environment around us, as well as use it to solicit information. The glasses are known as Snapchat Spectacles (Barrett, 2017).

The glasses are camera enabled and thus, referred to as holdup spectacles. They were first released into the market in 2016 and are considered as part of Snap’s future when it comes to battling Apple, Facebook, Google, and camera companies for technological supremacy. However, the main reason why Snapchat released the spectacles was to have more customers posting content on their walls. Through the introduction of the spectacles, Snapchat sends a vital message to the world; the glasses are not just the future of the company but also of the customers (Ardeeser, 2017).

Generated Benefits

There are two versions of Snapchat Spectacles. These are the spectacles 1.0 and the 2.0 versions. Both are easy and fun to use. In addition, they are tethered to Snapchat and thus, one needs to have the Snapchat app to retrieve his or her footage as well as the captured things (Kampung, 2017). The reason why the Snapchat app is still recommended for the glasses is because the captured pictures appear in a circular manner making them look weird outside Snapchat. The development of the spectacles is an indication that the company is getting ready to fight for its place in the technological world; at that time when technology really matters. Snapchat, has, therefore, began the race towards producing face-putter glasses though many well established technology companies are vying technological dominance. The glasses, in future, will be used to gather information as well as used for entertainment (Ardeeser, 2017). However, it would take a different technologic dimension to beat the likes of Google Glass and Facebook's Oculus Rift. Snapchat Spectacles is a promising prospect because it provides hands free access to computing; a new computing dimension on the frontline of computing revolution (Kampung, 2017).

Many people consider the spectacles as better products because they are worn on the face to create a virtual chatting reality. They also possess simple capabilities for a functionality which includes pressing a button and shooting a video. However, the spectacles are more than just devices with simple functionality. They are devices that cut into the realm of surveillance with augmented reality, voice controls, and an interface that is always on (Kampung, 2017). Though the spectacles don’t have the ability to change how one perceives the world, they make the idea of using face wearable a norm for everyone no matter the generation. Also, because the glasses are widely available, Snap can easily modify or replicate the product to meet the customer required designs. Such is the reason why the company redesigned v2.0. The basis of redesigning was the feedback got from customers. For this version, a smaller battery was installed, a faster image processor, and a slimmed hardware to make the glasses feel lighter when one wears them. With more feedback from the clients, the company is already working on the next version to keep up with the market demands (Barrett, 2017).

According to sources, v3.0 will not depend on the Snapchat app to ensure its relevance. This is because the cool-factor that is associated with the app is slowly burning out. With competition from other platforms like Instagram, Snapchat is using innovation as the weapon to defend its reputation (Management, 2017).

The application has grown into something much more than a messaging tool since its inception. The platform has been the center of trending activities such as taking a selfie as well as loving augmented reality. Apart from that, Snapchat still boasts of being the most reliable platform when it comes to taking great pictures ((MAYER, 2017, 3). The greatness is associated with the offering of perfect camera software on one’s phone. To bring all the named benefits beyond an ordinary app (such as make people take videos and pictures while playing in the world of augmented reality), the company decided to develop something new – the Snapchat Spectacles. People therefore, are given a better way to interact with the messaging software beyond the app itself (MAYER, 2017, 1).

The Business Model

The identified business model for Snapchat Spectacles is “bricks and Clicks”. Though snap is an online company, the selling of glasses requires a physical retail presence. By so doing, clients have the chance to visit stores and choose the products they intend to buy (Wolfe, 2017).

Resources

Snap generate revenue from the clicks and interaction of clients on their walls. The brand is much more established through an online platform. With such online presence, the organization receives the trust it requires from customers. With the advent of glasses, a strong physical presence would ensure that the products are sold efficiently (Chang, 2006, 269).

Key Partners

The key partners are distributors and clients. With a properly established customer and supplier network, Snap is able to achieve its marketing goals. The distributors will receive orders from clients to create a competitive pricing. With a strong offline establishment, however, Snap is able to leverage on supplier-organization relationships thereby being able to receive discounts (Salesforce, 2018).

Organizational Activities

The company enjoys an online presence more than its physical establishment. However, with an online as well as physical market, Snap has widened and enhanced its distribution of products through supply network. The glasses, for instance, can be advertized and sold both online and offline. The company is also able to create a global presence thus, increasing its customer base. On the contrary, having offline stores gives customers a chance to physically assess the products before deciding to buy them. Such an incentive is also important because the clients and stakeholders physically interact and feedback is provided efficiently (Chang, 2006, 270).

Cost Structure

The maintenance of a strong online presence ensures that Snap cuts off its overhead costs. However, with an added physical presence, the costs are increased because the company is required to maintain a strong offline and online presence (Wired, 2018).

Value Proposition

Snap believes that the glasses as supposed to be magical, simple, and suits the requirements of the customers. All the versions are thus, developed on the same belief. Clients need Snap to show commitment to quality and simplicity. With such requirements from customers, the company is committed to producing best devices. Within the production structure, there is a policy that ensures that the value proposition of Snap is reiterated in manuals of the products. In the manuals are designs of the glasses and how to operate the same. The policy has thus, been the building block of the glasses’ aesthetic design (Kelm & Risner, 2007, 21).

Structure of Revenue

Apart from using the Snapchat app, there are other means that Snap sources its revenue. For instance, the sales of glasses and other products provide income as well. Though not much revenue is generated from the sales of glasses, the spectacles still provide noticeable amount of income. The presence of a proper business model ensures that Snap reduces its overhead costs and maximizes on productivity (McMillan, 2017).

Channels

Herein, we will talk of marketing channels. As mentioned earlier on, the company employs two types of marketing channels – offline and online channels. They both ensure that Snap widens and enhances its product distribution. The use of offline and online channels help the company to access locally and international customers (Barrett, 2017). However, with a stronger offline establishment, Snap has a strong customer relationship compared to the online appearance (with regards to the sales of Snapchat Spectacles). As mentioned before, customers have the opportunity to physically assess the merchandise before buying it. The two developed marketing channels helps the company to boosted its production and sales level (Wired, 2018).

Customer Segments

 Customers are categorized into two – the offline and online customers. Those that buy products from the net make their orders via renowned websites such as Amazon then have the products shipped to their desired locations. On the contrary, offline customers are those that visit stores and buy products from such stores. The offline customers are more advantaged because they interact with the sellers and the product itself before opting to buy such products (Kelm & Risner, 2007, 20).

Customer Relationships

Snap maintains a strong customer relationship through the use of an interactive cum social environment. Snapchat provides customers with a unique opportunity to interact with one another and with the company through sharing posts and feedbacks (Hockett, 2017). The company also works smart through the management of markets via simultaneous and automated trade. Marketing automation has proved to be of importance to the company in several ways. For instance, automation ensures that client chats are managed well through the use of tools of automation. Automation also helps in the transfer of data and sales cycles while a personalized client interaction is maintained. Also, with an account-based marketing, new clients have their accounts automated and managed. Snap, therefore, needs the services provided by sales representatives, marketers, and managers to maintain a positive customer relationship (Hockett, 2017)

Feasibility Evaluation

Through the improvement of technology by which the Snapchat Spectacles work is a methodology through which the sustainability goals are achieved. To support the global sustainability mission, Snap intends to improve the v2.0 to v3.0 with improved efficiency, lighter hardware, and greater aperture (Wired, 2018). According to the requirements of Snap, future spectacles won’t have glasses that look goofy alongside technicolor frames but rather computing platforms that are pretty sophisticated. Such would be a device with the capability of capturing videos much better than a GoPro thus, making it easier for one to forget using a cellular gadget for a while. All the mentioned features will be incorporated in v3.0 which is already forecasted as the next platform for computing (Barrett, 2017). There is a separate arm of the company that is already charged with developing the hardware required by v3.0. With time, the way that the framework and the software of the glasses fit together will define the objectives of Snap. The development of hardware glasses is the road by which Snap takes its augmented reality to another technological level. As mentioned before, the world is growing further into a technological hub and new platforms of innovation are slowly cropping in. On the contrary, the introduction of a pair of glasses with a special hardware is yet another level of innovation. These glasses come in two versions – the v1.0 and v2.0, and determine the mode of communication, the way we view the environment around us, as well as use it to solicit information (Ardeeser, 2017).

Canvas Model

References

Ardeeser, J. (2017). CRM Explained: What is the Purpose of Customer Relationship Management? Retrieved July 30, 2018, from https://www.jordancrown.com/blog/crm-explained-purpose-customer-relationship-management/ 

Barrett, J. (2017). How Small Businesses Maintain Customer Relationships While Growing. Retrieved July 30, 2018, from https://www.infusionsoft.com/business-success-blog/customer-service/customer-experience/how-to-maintain-customer-relationships

Wired. (2018) WHY SNAP NEEDS ITS SPECTACLES. Management. Retrieved July 30, 2018, from https://www.wired.com/story/why-snap-needs-its-spectacles/  

Chang, H.H. (2006), Technical and management perceptions of enterprise information system importance, implementation and benefits.InformationSystems Journal, V.16 (3), pp.263–292.

Hockett, K (2017), 5 Tips for Making Group Work Manageable. Edutopia. Retrieved 13 June 2017, from: https://www.edutopia.org/blog/tips-making-group-work-manageable-kristina-doubet-jessica-hockett

Kampung, W. (2017). The Science of the 5Gs. WOW Kampung. Retrieved 13 September 2017, from https://wowkampung.com/5gs/science/

Kelm, R., & Risner, E. (2007). Brazilians Working With Americans: Cultural Case Studies/Brasileiros que Trabalham com Americanos : Estudos de Casos Culturais. Austin, TX, USA: University of Texas Press, pp. 19-21

Management, S. (2017). SMS | Strategic Management Society. Strategicmanagement.net. Retrieved July 30, 2018, from https://www.strategicmanagement.net/

MAYER, F. (2017). CET-Innovation & Entrepreneurship . Sony falls back , 1-3.

McMillan, L. (2017). The benefits and risks of outsourcing | Lexology. Lexology.com. Retrieved 13 September 2017, from: https://www.lexology.com/library/detail.aspx?g=e698d613-af77-4e34-b84e-940e14e94ce4

Salesforce. (2018). What is CRM? What do people mean when they say CRM? Retrieved July 30, 2018, from https://www.salesforce.com/eu/learning-centre/crm/what-is-crm/ 

Wolfe, M. (2017) What Is the Bricks-and-Clicks Business Model? Retrieved July 30, 2018, from https://bizfluent.com/info-7774613-bricksandclicks-business-model.html