Question

Mntrni is a mobile application that connects aspiring entrepreneurs with experienced and successful mentors in lots of different areas and specialties to help them answer important questions and make crucial decisions. In the beginning, the platform attracted mentors in entrepreneurship only, however, now there are more than 30 mentors in 13 specialty areas. The process of booking a session through the application with the mentor of your choosing is done through the application. When a new client signs up, he/she will choose the area of mentoring, then choose from the available mentors who have experience in that area, finally choosing the time of the session. The mentors have the capacity to set the times for the mentees to choose from as well as accepting or rejecting the sessions. The platform is looking to expand soon and for investors. Up to date, Mntrni had over 7500 minutes of mentoring for free since the launch in November 2017. For more information please go to mntrni.com and/or download the app, for better understanding of the platform and how it works. This is a multi-sided platform with mentors and mentees as the co-dependent groups.

- Explain how the internet can help Mntrni to achieve a competitive advantage in the marketplace thorough

a. Cost leadership.

b. Differentiation.

- Suggest 3 to 5 different revenue streams ideas that will work with this model, you can use single or hybrid revenue sources.

Answer 1

Internet can help Mntrni to achieve a competitive advantage in the marketplace through

(a) Cost leadership - Internet can help Mntrni to achieve a competitive advantage in the marketplace by using online marketing tools to spread awareness about its product and services. It can develop packages using Internet, reach target customers and offer discounts on long term relationships for becoming a cost leader. If Mntrni sells online packages with relevant material , it can develop a cost differentiation over the regular mentorship courses in the market.

(b) Differentiation - The course differentiation can be developed by providing mentorship in number of areas which are relevant as per the market trends and business changes. The differentiation can be developed by customization of courses as per the business need of clients. Certifications can be given in new emerging business areas based on competency in the sessions. Interactive sessions can be created with flexibility for reference anytime.

Three to five different reveue streams ideas that will work with this model can be subscriptions, blogs with featured articles, advertising, developing affiliate partnerships with industry associations.