Explain the significance of a usage-based pricing strategy in transformative business models.
Transformative Business Model
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Business
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University
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Hard
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The video discusses a transformative business model theory by Cavadius and Locke, highlighting six key characteristics: personalized products, closed loop consumption, sharing costly assets, usage-based pricing, collaborative ecosystems, and market adaptation. These elements aim to increase customer value and reduce costs, creating strategic barriers to entry.
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OPEN ENDED QUESTION
3 mins • 1 pt
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OPEN ENDED QUESTION
3 mins • 1 pt
How do transformative business models allow businesses to adapt to the immediate needs of the marketplace?
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