Business Model
A business model provides a framework for a company's monetization strategies. It focuses on defining the audience (customer segment), unique selling proposition, brand positioning, method of delivery, and distribution channels to create a profit-making formula. Business models shape all aspects of a company's development and growth. Therefore, they may change over time to adapt to new marketplace opportunities, technologies, or distribution channels. In more simple terms, every business model intrinsically has three parts – Everything related to designing and manufacturing the product.Everything related to selling the product, from finding the right customers to distributing the product.Everything related to how the customer will pay and how the company will make money. Types of Business Models for Startups ManufacturerManufacturers are the producers of goods and commodities. They manufacture and process finished good…