Analysis of business model of THE KNOT Free Essay, Term Paper and Book Report
The founders of The Knot analyzed the market and supported the attractiveness of the wedding industry. The nature of opportunity was that only three magazines were entrenched in this market and they were old fashioned. So, there was an appropriate consumer market niche on which to focus on. Realizing that infrastructure and development cost for a traditional magazine were highly expensive, the founders decided to build an internet-based business. Remember that at that time Internet was an opportunity for businesses.
Revenue Sources
The business model was based on interdependent revenue stream. The content of the website offers information about traditional weeding-planning, fashion, beauty, advice, grooms, travels gifts, home and so on. This information is free for the users. But it is considered as a service offered to the customer that can stimulates revenues from The Knot Gift Shop.
Revenues also come from the gift registry. It represents a huge amount of money for the company. Because of the items are specified by the engaged couple, sales are extremely predicable an......
Word Count: 734
Page Count: 2.9 (250 words a page / double spaced)
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