ADMS 3521 Lecture Notes - Lecture 2: Price Discovery, Freemium, Ebay
13 Dec 2019
School
Department
Course
Professor
Document Summary
A set of planned activities designed to result in a profit in a market place. A document that describes a firm"s business model. Always takes into account the competitive environment. A business model that aims to use and leverage the unique qualities of the internet, the web, and the mobile platform. Defines how a company"s product or service fulfills the needs of the customers. Successful value proposition includes personalization and customization, reduction of product search costs, reduction of price discovery costs, and facilitation of transactions by managing product delivery, amazon is a good example. Describes how the firm will earn revenue, produce profits, and produce a superior return on invested capital. A company provides a forum for advertisements and receives fees from advertisers. Companies that are able to attract like the greatest viewership and able to retain user attention are able to charge higher advertising rates.
