MKTG 448 Chapter Notes - Chapter 3: Value Proposition, Business Plan, Crowdsourcing
Document Summary
Business model is the method of doing business by which a company can sustain itself--- that is, generate revenue. The business model spells out how a company makes money by specifying where it is positioned in the value chain . Unique configuration of elements comprising the organization"s goals, strategies, processes, technologies, and structure, conceived to create value for the customers and this compete successfully in a particular market . Describes the core value proposition, sources and methods of revenue generation, the costs involved in generating the revenue, and the plan and trajectory growth. A descriptor of the customer value delivered to a specific target market. Specifies how an organization makes money, essentially how an entity sustains itself in the economy. Functions of a business model are to. Articulate the value proposition, that is, the value created for users by the offering based on the technology.
