ADMS 3521 Study Guide - Midterm Guide: Vbscript, Search Engine Optimization, Triple Des
3 Jan 2017
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Business model: set of planned activities designed to result in a profit in a marketplace, at center of business plan. Always takes into account competitive environment: business model that aims to use and leverage the unique qualities of internet and. 8 key business model elements: value proposition. Defines how a company"s product or service fulfilled needs of customers: need to understand why customers will choose to do business with one company over another. From consumer pov, successful e-commerce value prop include personalization and customization of product offerings, reduction of product search costs, reduction of price discovery costs and facilitation of transactions by managing product delivery: revenue model. Describe how the firm will earn revenue, generate profits and produce a superior return on invested capital: most companies follow one of following revenue models. Subscription revenue model: company that offers content or services charges subscription fee for access to some or all of its offerings.
