Define business model of your company

04 Jan Define business model of your company

There are 5 types of business model, which is you are falling?

Whatever is your model, all models have their own driving force and strategies.

1. Lower cost and broad buyers business

– e.g Patanjali 

– cost is the driver

2. Lower cost and Focused buyers business

– ParleG

– cost is the driver

3. Differentiation and Broad buyers business

– Samsung Mobile

– range wise uniqueness is a driver

4. Differentiation and Focused buyers  business

– Apple iPhone

– uniqueness is driver

5. Best Cost and General Buyers business

– cost and uniqueness balance is a driver

Ask 4 questions to your self to identify your business

1. Define Your Business Model

2. Define Your Customer Segment

3. What is your Customer Type?

4. Why does your Customer take the service?

These answers help you to choose the right strategy and right business model for your company and change your actions to become a successful entrepreneur.