ABSTRACT
Professor Marianna Sigala notes that successful business models clearly explain how the company will monetize its products, services, experiences and ideas. According to Accenture, 80% of companies hope to grow by developing new business models by 2019. Internet commerce is well suited to many new types of business models. M. Rappa reported nine major types and more than forty sub-categories of online models. Business models can be viewed from the perspective of market shapers versus market participants. A strong business model provides a competitive edge in the marketplace/marketspace by demonstrating that a company’s goods, services or ideas are different, more innovative and better than its rivals. Internet commerce is well suited to many new types of business models. Following the development of a sound business model, marketing leaders should select a value discipline to guide overall strategic direction for the organization and provide the basis for crafting a strong value proposition.
