A conceptual raikan business model: integrated reverse-bidding and cashless salam kaut in enhancing wedding events without compromising financial future

Kamarul Anuar, Muhammad Bashyar and Abd. Razak, Abdul Hakim and Ab Rahman, Muhamad Aqil Ikhwan and Shahbani, Muhamad Adam Muhaimin and Ahmad Dahlan, Abdul Rahman (2026) A conceptual raikan business model: integrated reverse-bidding and cashless salam kaut in enhancing wedding events without compromising financial future. International Journal of Computer Science and Information Technology Research, 14 (2). pp. 231-252. ISSN 2348-1196 E-ISSN 2348-120X

PDF - Published Version Restricted to Repository staff only Download (4MB) | Request a copy

Abstract

This paper aims to develop a conceptual Raikan business model, an innovative B2B2C digital platform, which is designed to address two major issues in the Malaysian Wedding Industry: (1) the primary problems faced by couples; and (2) the primary problems encountered by all wedding service providers (venues, catering services, photography, make-up artists etc.). Currently, couples are experiencing severe pain when searching for wedding related services due to opaque pricing, stressful negotiation processes and increasing living costs. Similarly, wedding service providers experience problems with unbooked inventory, unstable revenue streams during off peak season periods, costly marketing campaigns, and overwhelming inquiry management through multiple social media platforms. The methodology used in this study was the Design Thinking (DT) method, which included conducting a literature review and analyzing the business models of similar existing players in the marketplace using the BMC framework. Surveys will be conducted to identify and define the job to be done, pain points, and gain creating elements. Using the EM, VPC, and a high-fidelity digital platform prototype, an initial prototype of a business model will be developed. Additionally, a Strategy Canvas will be developed to allow comparison of the proposed validated model with other existing solutions. This paper presents a validated conceptual business model that has been specifically designed to provide pain relief and gain creation to modern weddings through several significant features including AI driven dynamic bidding, bundled packages, and digitally integrated Salam Kaut / Ang Pao cash gifting. Future works include developing a complete business plan based on this validated business model.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Digital Platform, Business Model, Design Thinking, Wedding Marketplace, Buy Now & Pay Later (BNPL) platforms
Subjects:	T Technology > T Technology (General) > T55.4 Industrial engineering.Management engineering. > T58.6 Management information systems
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Information and Communication Technology > Department of Information System Kulliyyah of Information and Communication Technology > Department of Information System
Depositing User:	Ts. Abdul Rahman Ahmad Dahlan
Date Deposited:	29 Jul 2026 14:46
Last Update:	30 Jul 2026 12:04
Queue Number:	2026-07-Q4319
URI:	http://irep.iium.edu.my/id/eprint/130272

Actions (login required)

View Item