Business Model Canvas - Juke Related Entertainment

Juke Related Entertainment serves as a management, marketing and production company.  The company is driven mainly by its talent and people, however, this will shift slightly as the company has recently started manufacturing promotional products for its artists.

Although the customer segment for Juke Related is mass market, there is a specific demographic that the company attracts, which are music and dance enthusiasts.  The company is currently focusing on its fan base by creating high quality entertainment and developing its reputation.  For Juke Related to be successful, it will have to be a brand of status that epitomizes what Juke culture is.

The channels that we use are mainly related to social media and we have measures in place to get feedback from our market.  (Items in italics are things that I believe will be a factor in the future, but is not something that we are currently doing.)  In addition to marketing on the internet, Juke Related does use its own talent to introduce people to the company’s offerings, similar to a traditional “sales” role.

Juke Related is primarily a service oriented business so financially, there is not a lot of overhead that we incur.  At this time, there are no fixed costs so all expenses incurred are based solely on revenues. The company, however, has recently started selling products - MP3 Players and CDs.  This has caused a shift in dynamics for the company and now there are production costs that are incurred.  The best way to augment this is to create economies of scale partnerships to help the company purchase materials in bulk.  The company has also decided to start offering to produce MP3 players for other artists, individuals and companies who have content that they want to provide in a unique way.  This will help the company bring in additional revenue based on the profit from the MP3 players.

Operationally, the mass production of MP3 players will require everyone in the company to pitch in to help.  Currently, I am the only person producing the MP3 players but as the volume increases, this will not suffice.  By pulling in other members of the company, this will generate an additional line of revenue for them, while also making a profit by offering our product to others.

Customer relationships vary depending on which service or product the customer is purchasing.  Items purchased on JukeRelated.com are self-service, however, personal assistance may be necessary if the customer has any questions or issues.  For services that we offer i.e. live performances or appearances, this requires much more personal assistance to ensure that our customer’s specific needs are met.

Our major key resources are our talent, who provide us with content, and our vendors.  Without either, we would not have any product to produce or market.  Moving forward, it will be vitally important to reduce overhead costs by ordering more products either due to increased demand or partnering with other companies/organizations for orders.  Our main key partners are those who can help us spread our message further i.e. DJs, radio personalities, record companies, etc.  Cultivating these relationships early on, will pay great dividends later on when the company has relationships that it can rely upon to make things happen when needed.