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02 WEEKLY REFLECTION

Posted on September 30, 2018

This second week of web business class. I know for certain that I know nothing about business. The door is now open to a world I never had any concept of. I feel like Alice through the looking glass, as I read about business models. I never herd of this concept before.

 

As I followed the white rabbit down the hole, to learn the names of business models.

 

Brokerage:  Brokers are market makers bringing buyers and sellers together, facilitating transactions.

 

Advertising:  Web advertising is an extension of the traditional media broadcast. The broadcaster being the  web.

 

Merchant:  Wholesalers and retailers of goods and services.

 

Manufacturer (Direct) : web allowing manufacturer to reach buyers directly, compressing the distribution channel.

 

Affiliate:  Providing purchase opportunities wherever people may be surfing. It offers financial incentives (percentage of revenue) to affiliated partner sites.

 

Community:  Based on user loyalty. Users are heavily invested in both time and emotion. Revenue based on sale of ancillary products, services or voluntary contributions; or revenue may be tied to contextual  advertising and subscriptions for premium services.

 

So these are just some examples of business models that I have learned about this past week. In order to choose a business model for our story line. Our imaginary group of four people who want to start an online business.

 

After reading our teachers thoughts on the business models, it would seem that affiliated business model is the way to go. Using affiliated business partners.

 

Original WordPress.com Blog Post: https://b250weeklyreflectionmyamada.wordpress.com/2018/09/30/02-weekly-reflection/

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