BU121 Study Guide - Midterm Guide: Market Segmentation, Promotional Mix, Emma Watson
Document Summary
Describes the rationale of how an organization creates, delivers, and captures value how a company intends to make money/the logic of which it will sustain itself financially how your idea turns into a business. Why it is important to understand your business model (lab manual why business. Models matter) important when tying narrative to numbers how companies can have essentially the same product and different business models ex. Gillette: make money off of the one time purchase of razor and reoccurring purchase of blades (makes money from selling razor blades) Different revenue stream for both products implications of business model on operations. Model = plan of action tells you how to operate in the best way max profits. Whatever is on the model is key on how your company operates. Make sure the value proposition is being delivered to customer segments ex: movie theatres and concession stands idea: sell ticket // additional profit = refreshments.
