Business models for new experiential services

A business model represents the business logic (Casadesus-Masanell & Ricart 2010) or the theory of the business (Drucker 1994) by defining the way an organisation generates and captures (economic) value (Teece 2010). Although business models have always existed as a foundation for economic behaviour, they did not receive much attention in academic literature before the 1990s (Coombes & Nicholson 2013). This attention was in part driven by the emergence of the Internet, and the need for new and innovative business models to capture value from e-businesses (Amit & Zott 2001).