Define and describe the transaction broker business model and discuss the eight components of the business...

Define and describe the transaction broker business model and discuss the eight components of the business model for this type of B2C firm

Expert Solution

This business model is internet based where a broker who is third party brings seller and buyers to get them engage in transaction where selling and buying of commodities take place.Broker get charges for his services from anyone of the two parties. There exist different patterns in this model, some of the transaction needs broker to connect retailers with consumers while in others business get connected with another businesses. There are different scenarios involved in these transactions like website positing, classified ads, shoping bots, online auctions etc.

Eight components of business model-

Market strategy- Planning to enter the market and to attract potential consumers to promote the business for its success and profitability.

Management Team-Company's leaders and the employees possessing the experience and background needed for the development and success of business in an effective manner.

Value proposition- It is the phenomenon by which a business differentiate its product and add value to the product to attract more consumers.

Revenue model- Phenomenon by which business plans to get revenue and to produce returns on the capital investment.

Competitive Environnent- To be a successful business, competition is necessary whether by direct or indirect business. It boosts industry growth and brings innovation.

Organizational development- It refers to the organizational structure, which should be systematically placed to ensure smooth running of business

Market opportunity-Company's willingness to acquire market space and looking for available opportunities related to financial potential.

Competitive advantage- Business evolve their products and marketing in a way that customers prefer their product over competitors products.

keosha answered 2 months ago

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