This paper shows the implementation of the business model Canvas with reference to a specific example. It describes how we came up with the idea of the new start-up company which, is called "Strumpfbody".
In the 19th-century machine-made cotton stockings became available for women. After World War I (1914-1918) short skirts were fashionable and long silk stockings were worn again. With the discovery and ultimate use of Dupont Nylon in the late '30s and early '40s, the primacy of silk in women's hosiery waned. Silk was ultimately replaced by nylon after the war. Nylon stockings which became popular after World War II (1939-1945) and completely replaced the silk stocking usually had seams until the late 1960s. They were knitted flat and "fully fashioned" which means that they were shaped to fit the leg like modern sweaters. By decreasing the number of stitches as the stocking was knit towards the ankle, a garment was created that was "knit to fit". By the early sixties, "fully fashioned" or seamed stockings were rapidly replaced by the modern reinforced heel and toe seamless stockings.
In the 1960s when skirts were worn very short, many women began to wear tights (pantyhose) instead of stockings. To show, "a bit of stocking", was no longer accepted and while stockings fought for market share by becoming extremely long, they became nearly extinct as pantyhose gained in popularity. "For much of the 20th century, pantyhose were an essential component of any polished woman’s outfit. But then, many Gen X and Boomers stopped wearing pantyhose years ago, dismissing them as uncomfortable and easily ruined by runs. Most Millennial women have never even worn them, and thanks to more casual office wear, they don’t need to in most offices." The majority of the leading brands of pantyhose and nylons in the United States have to struggle with this development. Therefore the market needs a new innovation, which will be described in the following paper.
Table of Contents
1. Role of the Hosiery in the Textile Industry
1.1 Economic and Innovative Potential of the Hosiery Industry
1.2 Structure of the Seminar Paper
2. Theoretical Basis
2.1 Introduction to the Textile Start-Up Business
2.1.1 Definition and Origin of Start-Ups in the Textile Industry
2.1.2 Start-Up Companies and their Characteristics
2.2 Conception of the Business Model Canvas
2.2.1 Definition and Comparison of Business Models
2.2.2 Nine Segments of Canvas
3. Implementation of the Business Model Canvas with an specific Example
3.1 Development of the Fashion Start-Up‘Strumpfbody’
3.2 Conception of the Product
3.3 ‘Strumpfbody’ on the Basis of the Business Model Canvas
4. Review
5. Conclusion and Outlook
Objectives and Topics
The objective of this paper is to explore the implementation of a new start-up venture, specifically the "Strumpfbody," using the Business Model Canvas framework to analyze and structure its business potential and product viability within the hosiery industry.
- The economic and innovative landscape of the hosiery industry.
- Theoretical foundations of start-up companies and business modeling.
- Application of the Business Model Canvas to a specific fashion innovation.
- Strategic review and assessment of market challenges for new start-ups.
Excerpt from the Book
3.1 Development of the Fashion Start-Up ‘Strumpfbody’
Finding an idea which leads to a new innovation nowadays is really hard. Technologic ideas are well developed and therefore we are living in a time, where almost every consumer has everything to fulfill his or her needs. This is the reason why, within our project, we started thinking about specific things and times where we were unsatisfied with certain things or with the moment itself. As our group exists out of more women than men we began to reflect daily problems of a woman. Therefore, we came up with the issues women have to face wearing tights. Women have to wear tights all the time, weather they have to wear them for an important occasion, like a wedding or church visit or wearing the tights daily because of work as a stewardess or a staff member of a bank. Nevertheless, most of the women get in touch with tights sooner or later. Giving a specific example of a woman facing those problems might keep it more simple explaining them.
Summary of Chapters
1. Role of the Hosiery in the Textile Industry: This chapter provides a historical background of hosiery and discusses the current market potential, highlighting the need for innovation.
2. Theoretical Basis: This section defines the term start-up and introduces the Business Model Canvas as a framework for business development and comparison.
3. Implementation of the Business Model Canvas with an specific Example: This chapter details the development of the "Strumpfbody" product and applies the nine segments of the Business Model Canvas to create a structured business strategy.
4. Review: This section reflects on the challenges encountered during the development process and discusses potential risks and competitive factors.
5. Conclusion and Outlook: The final chapter summarizes the project results and provides a future outlook on the feasibility and potential success of the "Strumpfbody" product.
Keywords
Strumpfbody, Business Model Canvas, start-up, textile industry, innovation, tights, pantyhose, business development, market research, fashion management, entrepreneurship, product design, cost structure, revenue streams, customer segmentation.
Frequently Asked Questions
What is the core focus of this seminar paper?
The paper focuses on the development and conceptual implementation of a new fashion start-up called "Strumpfbody," using the Business Model Canvas to structure its strategy.
What are the primary thematic fields covered?
The paper covers the history of the hosiery industry, start-up characteristics, business modeling techniques, and a practical application of these concepts to a specific product innovation.
What is the primary research goal?
The goal is to determine the market viability of an innovative hosiery product ("Strumpfbody") that combines a body and tights, and to demonstrate how to plan its business model effectively.
Which scientific method is utilized?
The authors utilize a market research approach, including an online survey and competitor analysis, combined with the application of the Business Model Canvas framework.
What topics are discussed in the main section?
The main section covers the identification of a market problem, the generation of the "Strumpfbody" product idea, the definition of key business segments, and financial planning.
Which keywords characterize the work?
Key terms include Business Model Canvas, start-up, textile industry, Strumpfbody, innovation, and fashion management.
Why was the Business Model Canvas chosen for this project?
It was chosen because of its intuitive visualization, focus on customer orientation, and its ability to simplify complex business coherences for start-ups.
What is the unique selling proposition (USP) of the Strumpfbody?
The USP is the combination of a common tight and a body into one single, seamless piece that prevents sliding and improves wearing comfort.
What challenges did the authors identify during the development process?
The authors identified challenges regarding technical manufacturing, financial background, bathroom accessibility, and competition from established brands like Falke and Spanks.
What does the financial calculation entail?
The calculation includes an estimation of product costs, buffer requirements, and profit margins to determine a market-ready price for the product.
- Citation du texte
- Friederike Berg (Auteur), 2015, Implementation of the Start-Up Company 'Strumpfbody' on the Basis of the Business Model Canvas, Munich, GRIN Verlag, https://www.grin.com/document/505669
