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ENT 588 Identify Your Business Model

  • From Business, General Business
  • Due on 09 Dec, 2019 03:56:00
  • Asked On 09 Dec, 2019 02:58:51
  • Due date has already passed, but you can still post solutions.
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Analyze your data and draft for findings for your industry, market, and customer research.

Develop a 525- to 700-word analysis considering your research and the following:

  • Explain the selection of your business model.
  • Explain what people will be your key contacts as you research your industry and market and why.
  • Analyze your research data and draft for findings for your industry, market, and customer research.
  • Justify the research methods you used to acquire your data.

Format your assignment consistent with APA guidelines.

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[Solved] Business Model paper

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  • Submitted On 09 Dec, 2019 03:27:42
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Identify Your Business Model Name: Institution and Affiliations: Instructor: Date: :   Identify Business Model Introduction During product development, it becomes essential for one to conduct a market research, many business owners may neglect this vital step, and thus their business becomes hard to prosper. It is most entrepreneurs’ nightmare to do market research due to the associated expenses. They tend to avoid extra costs associated with business research. Although it may be too complicated to justify the benefits of conducting industry research, the benefits are recommendable in the long run (Bryman A., 2015). Business owners may be too excited to launch their product as soon as possible to the market neglecting market research. Failure to conduct industry research can lead to the total death of your product. Business Model The business model is the way by which a company delivers its value to customers, gets them to pay and converts the payments to profit. A company may decide to use different types of models, which may include; direct sales model, advertising model, affiliate model, auction model, franchise model and much more. Direct sales model will be most vital in our case study; which includes sales which are made via party plans, demonstrating one on one and internet sales. Direct selling model consists of two other business model; single level and multi-level marketing. In single-level marketing, seller benefits through getting products from a parent company and then selling them to customers directly. In multi-level marketing, a direct seller earns more from both sponsoring direct sellers later receiving commissions from the and direct sales to customers. Direct sales model makes customer relationships stronger, through more interactions with the customers...
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