3 Successful Virtual Business Models to Sustain in the Digitized World

A Business model defines as the rationale of how an organization create, delivers and captures value (Alexander Osterwalder, 2010). When considering a business model, there are a few key components of it such as value proposition, revenue model, market opportunity, competitive advantage etc. With the digitization, most of the businesses/ organizations had to change their business model in order to survive in the disruption. Business models such as flash sales, freemium, sharing based models and crowd sourcing are some of trending examples for virtual business models.

The below elaboration is about some key virtual business models and their implications to sustain and succeed in a VUCA world.

1. Flash Sales

Flash sales describe a discount or a promotion offered by an ecommerce store for a short period of time. The quantity is limited and it carries customers towards impulse buying. Flash sales can be extremely effective for quickly selling out excess inventory. Moreover, flash sales could increase brand awareness and it could help the organization to tell their customers about their other products and value proposition. Companies such as mysale.co.uk Zulily are ecommerce companies who successfully implemented flash sales. Flash sale meltdown is a crucial area to look at when executing a flash sale because it could create…