Business Model Design

Catalog description

Designing and articulating a unique value proposition (VP) forms a critical task for the product team. In this course, we will use a business model framework to examine the key elements of a product's value proposition and their interrelationships -- and the implications for both value creation and value capture. While Product Discovery provides the product team with a deeper understanding of the customers' problem (or pain points), to address it they have to come up with a unique value proposition as well as the resources, activities, and relationships needed to realize it in the marketplace. Using tools such as business model canvas, we will examine how a product team can answer the 'what' and the 'how' questions related to addressing a market opportunity. We will also examine how the product team can validate the VP and the associated business model. The course will emphasize digital platforms and digital components as key parts of the business model. We will identify and discuss different types of digital business models and the important underlying concepts such as disintermediation, network effects, and data-based learning that shape their success. We will also discuss how the adaptability, malleability and portability of a digital business model allows a firm to be more responsive to market dynamics as well as pursue faster internationalization of the underlying business.