Business Models - MaRS Discovery District
Business Models - MaRS Discovery District
Business Models - MaRS Discovery District
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Business models
A business model describes the value an organization offers to its customers. It illustrates the capabilities and resources required to create, market and deliver this value, and to generate profitable, sustainable revenue streams. In principle, a business model does not matter to customers; it is important to the company and the organization of its business. The business model determines the external relationships with suppliers, customers and partners. However, it is primarily focused on the companys business processes.
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some of the value for itself (i.e., how the company makes money). It determines the viability of the company. The business model focuses on coordinating internal and external processes to determine how the start-up interacts with solution partners, distribution channels and customers.
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revenue/pricing model: change how revenue is generated through new value propositions and new pricing models (to take advantage of economies of scale) enterprise model: specialize and configure the business to deliver greater value by rethinking what is done in-house and through collaboration industry model: redefine an existing industry, move into a new industry or create a new industry For more information about developing a business model, download the MaRS workbook, Market Strategy Workbook 3: Strategic Marketing Approach. The information and exercises will help you design a business model by working through the key variables in executing a market strategy competition, partnership, distribution, pricing and positioning.
References
Kurtzman, J., and Rifkin, G. (2005). Startups That Work. London: Penguin Group. IBM Global Services. (2006, September). Business model innovationthe new route to competitive advantage. Whitepaper. IBM Global Services. (2008). The Enterprise of the Future. Whitepaper. Tags: business model, market strategy, strategy, value proposition
Business model design This guide provides a process through which entrepreneurs can design a business model for their s Understanding your market
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One of the most critical decisions that early-stage technology entrepreneurs must make is to dete Customer discovery (phase 4): Evaluate customer feedback and determine next steps Evaluating customer feedback about your target market and product solution will help you determin Developing your value proposition: An overview of customer discovery Creating a clear, meaningful value proposition is one of the first challenges any entrepreneur fa
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