Business model

Business model -in a narrower sense- is the method, the company enters the market and sales its product. One of the most important phases of the development process is the commercialization; covering the production, packaging, marketing and dissemination of the innovative product. Business model is related to these activities: briefly, it is the method, a company “makes money” from a product. Business model is a conceptual tool, containing numerous coherent elements formulating the business logic of a given company. It describes and summarizes the value, a company provides to one or more costumer segments, describes the architecture and network of the company. The overall aim of the business model is creating value, hit the market and gain the customers, create a sustainable income and profit.