Wk 5 - Business Models Flashcards
Define ebusiness
the use of the internet to conduct all related business activities and transactions.
Define ecommerce
the sell transaction represented online.,
Ebusiness happens within the framework of business & customer relations - draw this matrix.
Define a business model.
The plan by which a firm builds & uses its resources to establish a comptitive advantage, offer customers superior value and make money doing so.
Name the top 6 business models (BAMMSI)
- Brokerage
- Advertising
- Manufacturing
- Merchant
- Subscription
- Infomediary
Define the brokerage model.
Bring buyers and sellers together and facilitate transactions for a fee.
Define the advertising model.
Website provides content and/or services mixed with banner ads.
Define the merchant model.
Wholesales/retailers of goods / services. Sales may be made on list prices or through auction.
Define the manufacturer model.
From manufacturer to customer = efficiency, customer service, meet customer needs.
Define the subscription model.
Periodic fee for service. Subscription & free content or advertising frequently combined.
Define the infomediary model.
Sites provide independent data about products collecting data about consumers and their habits for marketing revenue in return.
What business models need to consider
- Be specific and simple.
- Who is the customer.
- Revenue generation, relationships, information & product flows.
Who the stakeholders in a business model are
CSO
- Customers (internal & external)
- Suppliers
- Orgnaisations who compliment the business.
What a business segment is
Subdivisions of a business based on organisational lines and areas of economic activity, eg: industry, market, product.
What a functional area is
Gropuings of individuals based on the function each performs eg: accountin, marketing, manufacturing).
