BU121 Lecture Notes - Lecture 1: Lulu (Company), Self-Publishing, Financial Times
Document Summary
Business models: from idea to business: describes the rationale of how an organization creates, delivers and captures value. How a company intends to make money/the logic by which it sustains itself financially. How your idea actually becomes a business: a product is the centre of a business, but it is not a business in and of itself. Different companies can have similar offerings but different business models: model affects strategy/ways of operating. Blueprint describing how an organization operates: a successful business model represents a better way than the existing alternative. Visa (credit card companies), ebay, financial times (newspapers), facebook, The long tail: selling less of more" focusing on offering a large number of niche products, each of which sells relatively infrequently vs. focusing on selling a small number of products, each selling in high volume, ex. Niche authors who want to self publish: self publishing services. Niche audiences who are looking outside of the main stream: market for niche content.
