TYPES OF BUSINESS MODELS Flashcards

1
Q

Business MODELS

A

a plan that outlines how the business will run its operations to generate profit

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2
Q

5 types of business models

A
  1. online business
  2. bricks and motar business
  3. franchise
  4. importer
  5. exporter
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3
Q
  1. ONLINE BUSINESS define
A

no psychical presence which conducts its primary activated through the internet

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4
Q
  1. ONLINE BUSINESS strengths and weaknesses
A
S : 
- easy 24/7 access for customers
- ▼ costs ☞ no rent, ▼ staffing
- global access
W :
- hard to build loyalty w customers
- risk for online fraud
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5
Q
  1. ONLINE BUSINESS

7 types of online business models

A
  1. advertising model
  2. affiliates model
  3. brokerage model
  4. merchant model
  5. subscription model
  6. information model
  7. community model
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6
Q
  1. bricks and motar def
A

a physical presence that clients/cust attend ignorer to purchase goods/services

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7
Q
  1. bricks and motar S+W
A
S:
- face to face interaction
- physical presence = builds trust 
W:
- ▲ overhead costs
- less convent for busy customers
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8
Q
  1. franchise def
A

agreement where franchisor grants the franchise the rights to use its bus name and distribute its products/services

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9
Q
  1. franchise S+W
A
S:
- access to free training and marketing
- easier to make $ bc apart of an established bus
W:
-has to play % to franchisor of profits
-\$\$\$\$\$\$ to set up
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10
Q
  1. importer and exporters def
A

bus that buy and sells products across an International boarder

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11
Q
  1. importer and exporter S+W
A

S:
- make profits buy buying “low” selling “high”
W:
-must be susceptible to changes in macro environment

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