ENTR200 Lecture Notes - Lecture 4: Ikea, Netflix, Tupperware
Document Summary
Different than products/services because they are how your business operates, products are just characters in the story. if you create a business model where people act outside of there interest it will fail = narrative test. Using bulk order to get product to customers cheap (using research on what there willing to pay) Priceline couldn"t get the discounts because stores didn"t want to throw their brand away. Amazon enables people to join their team at low cost, affiliates advertise amazon, affiliates make a piece of sales) Plot twists: e. g uber not owning vehicles, air bnb not owning property. Business model patterns (subscriptions, long-tail, bait and hook, freemium, fractionalization) Business model mechanics why some business models are better than others. Switching costs cost to change providers ($ or utility) e. g phone plans, high value assets (ps4, car->bus) Base product/consumables, data, learning curve, industry standards, servitization, exit.
