business model innovation

What are the Key Components of Business Model Innovation?

Business model innovation generally involves several key components:
Value Proposition: Redefining what value is being offered to customers.
Revenue Streams: Exploring new ways to generate revenue, such as subscription models or bundling services.
Customer Segments: Identifying and targeting new customer segments.
Channels: Innovating the ways products or services are delivered to customers.
Cost Structure: Optimizing costs through strategic partnerships or automation.

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