BFA701 Enterprise and Entrepreneurship Assignment Sample 2024
Introduction
In Newtownards, Northern Ireland, Avalon Guitars is a British/Irish instrument maker. Avalon manufactures a large range of acoustic guitars with steel strings. Avalon Guitars Limited was initially created in 1989 and operated from Bangor, County Down until 1990 as The Lowden Guitar Company Limited. From 1989 to 2003 Avalon produced over 15 000 Lowden acoustic guitars and created a robust electric bass guitar under the name of Goodfellow for a short while from 1992 to 1996 (Bernard and Andritsos, 2017).
The Goodfellow brand was sold in 1996 to Shinseido Corp. so that the company would exclusively use the traditional approach for producing the highest quality, hand-built acoustic guitars. The classes were organized in Newtownards to facilitate Avalon’s traditional lute-making methodology (formerly Lowden Guitar Co.), designed by the then Technical Director, Mitsuhiro Uchida – currently one of Japan’s leading lute makers – in a pattern of Japanese guitar makers.
Uchida also instructed the lute-makers, many of them developed their capabilities in guitar design, which made a significant contribution to the development of Avalon Guitars. Because of restrictions in the Lowden Guitars design license agreement, none of the company’s luthiers have been able to contribute design ideas to the development of the company’s product portfolio.
To solve this, in 2000 the firm set up Avalon Guitars and invited the design insight from the group of guitarists with the highest level of experience working for the company. The new line was debuted in 2002, called the Avalon Gold series.
A customer map is an insight into the beginning of a customer experience. It is a visual story that lets you comprehend each cycle your customer experiences with your picture, passing through every step from the fundamental commitment to a relationship that is ideally drawn. Customers in today’s market cycle are dynamic members.
The days are gone by when businesses and advertising will simply promote articles and messages to gain a foothold from every aspect of imagination, all considered (Van Gelder, 2017). Currently, customization is overflowing; clients understand what they need and expect that brands are also aware of this. Customers have the power and the confidence to discuss their disappointment with brands over a wide variety of platforms.
A brand’s use of astute market division can be attributed to a prevalence of personalization that we observe in the current commercial center. In this respect, personalized meetings and messaging are currently anticipated by bespoke buyers. Moreover, they will not be achieved unless they are provided with certain items and cooperation. You need to sort out your customer in the first place to operate with such unusual things, administration, and multi-channel interchange systems.
Customer travel planning (CJM) is also a safe way to do it. Most big firms function in ways that segregate different parts of the assistance they send to their guests, such as requests, specialist assistance, complaints about, guarantee claims, general requests, etc. In general, this is necessary for building skills and supervising activities.
Task 1
Customer steps, insights, and customer emotions are the fundamental parts of a customer journey map. Insights include, for example, needs, behavior, quotes, and emotions, e.g. thoughts and sentiments. The company will have a decent starting point when this is mapped. But, importantly, one can decide on actions that produce change and promote value to be able to produce something out of the map – the company needs to add something more.
This “something” company adds will define what the company can do with the map. Thus, the pathways you create underneath are the paths for change. These are the pathways that allow using of the travel map as a means of going from insights into actions that will produce value for consumers and businesses. The company can add lanes that include possibilities, ideas, and solutions, for example. Then you receive an idea-generating and innovative customer travel map.
The Company has created and released a mass-market version dubbed the Silver Avalon series in Korea in response to the mass market development of guitar production, which was made feasible by improvements in the technology of woodwork like CNC, laser-cutting, and UV lacquer cure.
Avalon Guitars aims to sound foreign to its consumers. The firm started as Lowden Instrument, produces high-quality handcrafted acoustic guitars, such as Eric Clapton, Van Morrison, and every performer who needs a new guitar. When it started outsourcing the manufacturing of its tools, the firm had unlikely success; guitars were still being built by hand.
The invention of Avalon Guitars takes place at the source of the firm in Northern Ireland, while the majority of the instruments are manufactured by Cort Musical Instruments in South Korea. For some time, Avalon Gold’s production was shifted to Furch Guitars in the Czech Republic to focus entirely on customized, high-end acoustic guitars.
Avalon Gold line was also produced. Meanwhile, in 2006, the British Guitar & Bass magazine claimed that the high-end Zemaitis was manufacturing acoustic guitars by the Avalon Guitars luthiers in Ireland. In 2007, Avalon stopped all offshore versions, exclusively to create high-end acoustic guitars made by hand from its Northern Ireland factory.
Through this journey mapping practice, Fender has found ways to assist players from learning through training and finally positioned their marque as not just a top guitar maker but also a trustworthy partner, delving into the deeply complex layers of client experiences. In addition, Fender discovered a trustworthy Iterable partner to transform their customer experience into sophisticated cross-channel campaigns with workflows developed particularly for increasing commitment and retention.
The individualization of an experience has distinguished Fender inside the market for musical instruments. They concluded that they were well suited to maintain long-term loyalty if they could assist their client journeys before the typically experienced cliffs. It is unusual because consumers may write directly with customer care.
Shoppers receive information straight now and appreciate their feel—it is like chatting live, yet it seems like a text message. Customers have so greatly enjoyed this function that in only six months Avalon guitars had 98% more sales.
A customer journey map clearly illustrates the path of the consumer (additionally called the purchaser excursion or client venture). It helps you to tell all points of contact about your customers’ encounters with your brand. By mapping out our client experience, if customers connect to you via social media, electronic mail, direct chat, and other platforms, nobody slips between the gaps.
This commitment also helps pioneers of the B2B market learn about typical customer challenges to make their customer experiences easier to streamline and tailor. A customer travel map is a process of producing a customer travel diagram, a graphic representation of the interactions between your customers and your brand. This practice helps firms to put themselves in the shoes of their customers and see their business from their perspective. It allows you to learn about and how to solve frequent customer problems.
All prospective like a website, social media platforms, and marketing and publicity affiliations are primarily identified. Customer projects will subsequently be performed by these different contact points for every buyer. For example, a thousand-year-old buyer can often get to know an object in social media, study it on the mobile version of your site and then shop on your PC.
The experience of the customer should be remembered at each point of interaction for a consumer route map. This may also involve how your image responds and the type of action the customer requires. The customer travel map is crucial since it is a critical step to better understand customer expectations.
Task 2
Today’s environment has made it tough for any organization, large or little, to offer plentiful workers and commodities. Each business attempts to develop better products (work and products) that have a higher value to customers and customers than the offers of its rivals to stay on top of the competition in this context. The organization, which is crucial to our performance in today’s market sectors, relies on the technologies that reduce production costs while still increasing product Quality.
In an abundant shopping mall, companies have to make an ongoing effort to provide successful advertising based on well-tested labeling schemes with the distinctive value of their product. The many types of intangible capital of a firm frequently are more significant and precious than its actual resources in today’s information-driven, private sector financial perspective.
The protected invention rights jointly preserve a crucial component of theoretical capital (IPRs). This allows for exclusive protection and permissions for innovations, copyrights, plans, and brand names, and numerous benefits.
IPRs convert human brilliance into commercial goods, and they offer a large range of creative ways to assist firms to accelerate their success. Every company, particularly those currently profiting, should rely on at least one form of licensed innovation (IP) to acquire and retain a substantial competitive edge on the market presently.
To safeguard and misuse IP services they have or wish to employ in their home-grown actions plans and cutting-edge methods, company pioneers and managers require a significantly greater grasp of the IP framework equipment.
For example, the job IP in a company might vary depending on several circumstances.
- The action plan – certain models will contain IP as a significant component, while IP may be less focused in various models. A variety of IPRs also apply to different action plans, for example licensing, expertise, and proprietary developments, whereas brand names and plans are more important in the brand area of clients;
- The market – several instruments to secure IP resources, such as the duration of item cycle, hazards of contestant invasion by iPR and adequacy and costs of authorization of IPR against competitors, are significant as identified by economical conditions; the market;
- The type of IP used – different types of IPRs take different parts (for example brand name security will be utilized to ensure brands; licenses to secure innovation; copyright to secure programming; plan rights to secure new plans). More than one kind of IPR is used by most organizations;
- The phase of business growth: the share of IPRs in a company usually becomes more contemporary as the company progresses;
- The familiarity with their administrators with the task of IP: how their supervisors handle IP works will depend on the importance given in a company.
The establishment of a marketing campaign is an important lifelong enterprise. You will most likely be chaotic and inefficient to attract consumers if you don’t. Your method should focus on guaranteeing that your goods and customer service solutions are maintained while maintaining long-term and lucrative ties with clients. To achieve that, you must develop an adaptive solution that can modify the views and requirements of your customer. It can also help you find possible markets that you may pursue effectively. The objective of your marketing strategies should be to explain to your target market the benefits of your proposal.
Risk register
| Name | RBS ID | Probability | Impact | Mitigation | Risk score after Mitigation |
| Competition: aggressive marketing | 1.0 | Low | Low | · Intelligence collection and risk assessment
· Deploy an advocacy approach · Flip down negative messaging for example if your rival claims that your firm is too small, push for agility and customer focus · To scan for competitive risks using industry research and consulting firms such as Gartner or Forrester |
0 |
| Difficult-to-sell product | 2.2 | Low | High | · Consider concentrating not on the product but solutions
· Marketing materials check, sales, sales training Identify the unique point of sale · Improve research and development on the market · Product repurpose · Product for decommissioning |
1 |
| Environment – natural or business environment | 3.1 | High | Medium | · Extreme climate risk – guaranteeing safe working conditions, safe access to water, work at home in poor weather, travel support, accommodation, etc.
· Risk to installations, buildings, resources, resources – insurance, for example, buildings, content, investment in storm protection, fire prevention, etc. · Development of an emergency and recovery strategy |
1 |
Task 3
The combination of an unforgettable setting, a vast range of knowledge, and they want to keep on the edge of rivalry has prompted Avalon Guitars to use exploration to make fundamental corporate decisions. The monetary review enables the Chiefs to assess the segments of their business, to figure out the development of applications, and to monitor opportunities.
Associations advance the investigation and powerful measurable ideas to decide the intensity of expansion, to threaten and advantages of stock management, assessment of plans and recruitment abilities instead of “going with their gut”. Data and investigation interrupt the establishment of plans and settings of Avalon Guitars (Logan, 2020).
The extension of current educational records and the showing of huge information flow restrictions are sabotaging the establishment of information and mechanical storage facilities. Associations use market evaluation to enable every dynamic, from the use of granular information to tailored goods and Avalon Guitars to progressive steps to communicate to buyers and distributors. Contemplations suggest that informational associations make better fundamental decisions but also value a high degree of authority, more customer loyalty, and strong benefits and pay levels.
The continuous review also demonstrates that data-focused groups are obligated to attract customers, to hold customers to benefit from them. The current, consistent experts approach a wide range of skills and processes. This ranges from the main strategies, for example ‘enlightenment examinations,’ including data collection for subsequent assessment, to ‘insightful examinations,’ providing advanced models in the control and anticipation of the future to the top of the line of the assessment, ‘prescription evaluations,’ which incorporate interpretations by machine-based learning calculations and dynamic rules.
It is not surprising that these techniques have found their way into various levels of customers, workers, Avalon Guitars, cash, and hazardous strategies in distinct situations of usage and executions. The information is the new gas and is the sole way for companies to digitize their cycles and understand it.
Digitizing customer relationships may generate a wealth of information that may be used by companies to enhance their cycles, offers, and promotions. Associations may use point-to-point and granular information to concentrate their customers on goods and administrations smaller than anticipated and customize. Further internal digitalization generates information that managers may utilize to better their actions, such as control and transportation, distribution and booking of resources, scope assessment, and collection.
Data is the new gas, and businesses can only digitalize their cycles to understand it. A large amount of data may be provided by digitizing client connections which may be used by Avalon Guitars to enhance their cycles, deals, publicity, and items. Associations might use specific and detailed information to focus on their customers and adjust their products and administrations less than normal.
Further internal digitalization generates information that managers may utilize to improve their operations, such as control and transportation, part and reserve of resources, measurement of the scope, and collection. This is backed by obvious cutting-edge models, which include major encounters from surprise educational files, and inspire companies to explore new markets. Not so many sectors confront today’s huge and changing opportunities for companies for knowledge and inquiry.
Even though Avalon Guitars spend a great deal of time researching buyer information and finding the main opportunities for change, quality and implementation are equally important to zero. The data and examination may play a major role in reducing misfortune and simplifying workouts in the Avalon Guitars. For example, reports and logical dashboards can include links to information and provide supervisors with active work to carry out discount evaluations, peer benchmarking, and division evaluations.
The use of fundamental measuring procedures throughout regions, such as hierarchical greatness, development of items, and arrangement of work power, will also provide precise meetings to decide market testing scenarios. The corporate audit will also support associations in drawing, holding, and building capacity.
Existing business models and ecosystems are disrupted by data and analyses. The spread of fresh data sets and the development of a huge capacity for data transfer undermine current information and technology silos. Companies use corporate analytics from granular data to customize products and services to scale digital platforms to match buyers and sellers to make faster and factual decisions.
In reality, research shows that data for Avalon Guitars not only enhanced strategic decisions but also increased customer happiness, strong profit and revenue levels, and operational efficiency. A recent study also reveals the twenty-three-fold probability of data-focused businesses to buy consumers, six times the probability of retaining them, and 19 times the probability of profit.
Conclusion
In this volatile era of information-driven disruption, company executives need to view through two glasses simultaneously. They must immediately assess high risks and offset possibilities, such as joining new markets and changing existing action plans. They must also keep focusing on integrating research into their primary dynamic market period. Corporate leaders may smooth internal company stages, grasp widespread customer drifts, decode and display hazards, and establish continual critical and transformative mechanisms by adding data analysis into their fundamental strategy. As a consequence of the advances made in science, firms will acquire a competitive edge and will stay at the forefront of advanced disruption. Due to the increasing need for a personalized experience, the preparation of customer journeys is now crucial to the success of a firm. But the appearance and tone of the guitar Avalon had a large attraction. One thing was sure. The Silver Series, the prototypes of which were produced in September 2002, has already been introduced. It was planned. This line was introduced in March 2003 and represents the new quality standard in acoustic guitars at mid-price. The team of the Avalon luthiers was engaged in the creation and prototype of the new Avalon ‘Legacy’ Series flagship while quickly garnering approval. This is our top-end, hand-made premium line. This series began in July 2003 to replace the Lowden Guitar line that was retired at the end of 2003 from the Newtownards manufacturing. Avalon’s ‘Legacy’ Series preserves the legacy of guitars produced in our Irish manufacturing – the same area, the same people, the same superb acoustic guitars.
References
Alvarez, J., Léger, P.M., Fredette, M., Chen, S.L., Maunier, B. and Senecal, S., 2020. An Enriched Customer Journey Map: How to Construct and Visualize a Global Portrait of Both Lived and Perceived Users’ Experiences?. Designs, 4(3), p.29.
Bascur, C., Rusu, C. and Quiñones, D., 2018, October. User as a customer: touchpoints and journey map. In International Conference on Human Systems Engineering and Design: Future Trends and Applications (pp. 117-122). Springer, Cham.
Bernard, G. and Andritsos, P., 2017, September. CJM-ex: Goal-oriented Exploration of Customer Journey Maps using Event Logs and Data Analytics. In Bpm (demos).
Bernard, G. and Andritsos, P., 2017. A process mining-based model for customer journey mapping. In Forum and Doctoral Consortium Papers Presented at the 29th International Conference on Advanced Information Systems Engineering (CAiSE 2017) (Vol. 1848, pp. 49-56). CEUR Workshop Proceedings.
Borges, S., 2019. Finding Flamenco. Archway Publishing.
Canfield, D.D.S. and Basso, K., 2017. Integrating satisfaction and cultural background in the customer journey: A method development and test. Journal of International Consumer Marketing, 29(2), pp.104-117.
Corcoran, M., 2017. All over the map: true heroes of Texas music (No. 11). University of North Texas Press.
D’Alessandro, J., Terry, C., Binder, V., McNally, D., Selvin, J., and Van Meter, B., 2017. Summer of Love: Art, Fashion, and Rock and Roll. Univ of California Press.
Friedlander, P., 2018. Rock and roll: a social history. Routledge.
Hayward, P., 2019. Elaborating the aquapelagic imaginary: Catalina Island, tourism and mermaid iconography. Journal of Marine and Island Cultures.
Hepworth, D., 2017. Uncommon People: The Rise and Fall of the Rock Stars. Henry Holt and Company.
IHAMÄKI, P. and HELJAKKA, K., 2017. Gamification of the customer journey at a ski resort. In Conference Proceedings of the Academy for Design Innovation Management (Vol. 1, No. 1, pp. 267-280).
Logan, P.E., 2020. Recording the Classical Guitar: A Documentation and Sound Analysis of Great Classical Guitar Recordings with a Guide for Sonic Emulation (Doctoral dissertation, The Florida State University).
Manheim, S., 2019. Blues Musicians of the Mississippi Delta. Arcadia Publishing.
Rosenbaum, M.S., Otalora, M.L. and Ramírez, G.C., 2017. How to create a realistic customer journey map. Business Horizons, 60(1), pp.143-150.
Rudkowski, J., Heney, C., Yu, H., Sedlezky, S. and Gunn, F., 2020. Here Today, Gone Tomorrow? Mapping and modeling the pop-up retail customer journey. Journal of Retailing and Consumer Services, 54.
Shiratori, E.K.A., Trevisan, A.H. and Mascarenhas, J., 2021. The customer journey in a product-service system business model. Procedia CIRP, 100, pp.313-318.
Smyth, G., 2019. ‘Gardens All Wet With Rain’: Pastoralism in the Music of Van Morrison. Irish University Review, 49(1), pp.171-187.
Squires, C., 2017. Live from Medicine Park. University of Oklahoma Press.
Vakulenko, Y., Shams, P., Hellström, D. and Hjort, K., 2019. Service innovation in e-commerce last-mile delivery: Mapping the e-customer journey. Journal of Business Research, 101, pp.461-468.
Van Gelder, S., 2017. The Revolution Where You Live: Stories from a 12,000-Mile Journey Through a New America. Berrett-Koehler Publishers.
Know more about UniqueSubmission’s other writing services:
