What question did this study set out to answer?

The paper aims to create a conceptual business model to resolve issues faced by couples and wedding service providers in Malaysia.

June 19, 2026Open Access

A Conceptual Raikan Business Model: Integrated Reverse-Bidding and Cashless Salam Kaut in Enhancing Wedding Events without Compromising Financial Future

Key Points

The paper aims to create a conceptual business model to resolve issues faced by couples and wedding service providers in Malaysia.
Utilized Design Thinking methodology including literature review and analysis of existing business models.
Conducted surveys to identify issues and elements that create value for users.
Developed a high-fidelity digital prototype and Strategy Canvas for comparison with current solutions.
Proposed a validated conceptual model that incorporates AI-driven bidding and digitally integrated cash gifting.
Identified pain points and gain contributors for couples and service providers in the wedding industry.
Outlined features to address market challenges effectively, aiding in revenue stability.

Abstract

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. Keywords: Digital Platform, Business Model, Design Thinking, Wedding Marketplace, Buy Now & Pay Later (BNPL) platforms. Title: A Conceptual Raikan Business Model: Integrated Reverse-Bidding and Cashless Salam Kaut in Enhancing Wedding Events without Compromising Financial Future Author: Muhammad Bashyar Bin Kamarul Anuar, Abdul Hakim Bin Abd. Razak, Muhamad Aqil Ikhwan Bin Ab Rahman, Muhamad Adam Muhaimin Bin Shahbani, Abdul Rahman Bin Ahmad Dahlan International Journal of Computer Science and Information Technology Research ISSN 2348-1196 (print), ISSN 2348-120X (online) Vol. 14, Issue 2, April 2026 - June 2026 Page No: 231-252 Research Publish Journals Website: www.researchpublish.com Published Date: 13-June-2026 DOI: https://doi.org/10.5281/zenodo.20677113 Paper Download Link (Source) https://www.researchpublish.com/papers/a-conceptual-raikan-business-model-integrated-reverse-bidding-and-cashless-salam-kaut-in-enhancing-wedding-events-without-compromising-financial-future

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