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Business model

Business model Definition

A business model (also called a business design) is the mechanism by which a business intends to generate revenue and profits. It is a summary of how a company plans to serve its customers. It involves both strategy and implementation. It is the totality of:
  • How it will select its customers
  • How it defines and differentiates its product offerings
  • How it creates utility for its customers
  • How it acquires and keeps customers
  • How it goes to the market (promotion strategy and distribution strategy)
  • How it defines the tasks to be performed
  • How it configures its resources
  • How it captures profit



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