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What is a digital business model?
What is a digital business model?
- A type of business model that focuses on physical products
- A way to reduce production costs by using digital technologies
- A form of creating value based on the development of customer benefits using digital technologies (correct)
- A marketing strategy that uses social media to promote products
What is the primary goal of developing a digital business model?
What is the primary goal of developing a digital business model?
- To adapt to digitalization and digital disruption (correct)
- To create a competitive advantage in the market
- To invest in new technology
- To increase production costs
Which of the following is an example of platform value?
Which of the following is an example of platform value?
- Rebates and rewards
- Personalization
- Marketplaces (correct)
- Consumption-based pricing
What is the main difference between a traditional business model and a digital business model?
What is the main difference between a traditional business model and a digital business model?
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Which category of digital business model includes price transparency and reverse auctions?
Which category of digital business model includes price transparency and reverse auctions?
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Study Notes
Digital Business Model (DBM)
- A digital business model is a form of creating value based on developing customer benefits using digital technologies.
- It encompasses all aspects of a business, from customer acquisition to product/service provision.
Characteristics of Digital Business Models
- Digital technology enhances the value proposition of a business.
Categories of Digital Business Models
Cost Value
- Focuses on price transparency, consumption-based pricing, and other cost-related benefits.
- Includes features such as:
- Reverse auctions
- Buyer aggregation
- Rebates and rewards
Experience Value
- Focuses on providing a unique customer experience.
- Includes features such as:
- Customer choice
- Personalization
- Automation
- Lower latency
- Any device, any time accessibility
Platform Value
- Focuses on creating a platform for interaction and value creation.
- Includes features such as:
- Marketplaces
- Crowdsourcing
- Peer-to-peer transactions
- Sharing economy
- Data monetization
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Description
This quiz covers the definition and concept of digital business models, including how they create value using digital technologies and enhance customer benefits.
