1. Create a timeline of actions undertaken by the Rent the Runway (RTR) co-founders.
2. The RTR case described 3 main value propositions (at the beginning, the middle and the end) and their accompanying business models. Complete a BMC for each one and explain what actions/information led to each pivot.
3. At the end of the written case in 2010, the co-founders are considering whether to (1) stick with their original plan to pursue operational improvements before raising additional capital or (2) accelerate fundraising in order to expand inventory and product range, thus enabling RTR to serve broader customer segments and usage occasions. How would you recommend they proceed?
Answer each question in 2 sentences or less:
- 1.Which elements of the BMC are related to the value chain, customer discovery and business model economics?
- 2.What is a value proposition?
- 3.Describe each of the 9 elements in the BMC.
- 4.If you were assessing Apple’s Music Business, what would you put in the Customer Segment box?