How to create successful Business Model
Business Model
Business model is basically the function of operating an organization efficiently. Some of the key features included in the business model are to deliver and create an environment where the company can grow and expand itself in spite of rigorous competition. Along with this, business model also includes the social, cultural and economic aspect of the country. The process of business model is to develop and introduce a business strategy that can grow the company for future endeavors. Business model comprises of many factors and some of them are as follows: value proposition, identification of a market segment, revenue mechanism position of the firm and competitive strategy.
CNN Business Model
CNN (Cable News Network) is an American based channel and broadcaster of news round the clock. It was established in 1980 as a subsidiary of TBS (Turner Broadcasting System Inc.), which was a company that was engaged in various businesses such as entertainment, news syndication, licensing, sports and real estate. It is providing services within America in over 100 million households. Broadcasting extends their services in 890,000 American hotel rooms. CNN is also having satellites in Canada as well and their strategy is to enter across the world. At global level, it is available in 212 countries and regions. Some of the functions of the CNN business model include:
Value proposition
Every organization has different features and values to remain competitive in the market. CNN 24-hour service facility is the value proposition that adds value to the channel as compared to other broadcasting groups.
Identifies a market segment
CNN market is comprised of businessmen, politicians, democrats, and civil society, who want to be updated in the world of news and current affairs globally.
Revenue Mechanism
Like other broadcasting groups, CNN also depends on sources of advertisement, commercial ads and media marketing. One of the major sources of income for CNN is the subscription fees. It is basically the payment made by the cable operating companies to the CNN against each subscriber.
Position of the Firm
CNN is one of the inimitable leading broadcasters in media industry focusing entirely on its brand image. The good thing that makes the CNN more unique from other TV broadcasters is round the clock facility in entire the globe.
Competitive Strategy
The core competency of CNN is to focus entirely on providing news in a totally unique way from other competitors. It is the pioneer in providing round the clock updates to the people both at domestic and global level. The immense thing that CNN is adopting at present is the live broadcasting. Whenever an incident, event or any other mishap takes place, they show it to the people on time..........................
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