There are a wide variety of business models. But here, you will learn about the most popular form of business models and their culture. Since every organization needs a business model, you, as an entrepreneur, you should take a more in-depth look at how they work.
In this business model, you know a customer or particular kind of customer very well, so you can tailor some idea specifically targeting those customers and give them a complete solution with your innovative idea, which leads to total domination of a niche.
In this model, you have a product that you're planning to sell
in multiple ways. For example, the Coca-Cola company sells its
product (coke) in plastic bottles, glass bottles of different
sizes, and prices. Again, it sells in the form of vendors or with
other food items like pizza or fast food as a tie-up
This is a model that every entrepreneur and co-founders dream about achieving this. An example of one such enterprise is Apple Inc., which led the market with computing power regarding tablets, phones, and music players also.
Target an industry, and in that industry, you target one or many products that your company will provide and that too in a well-crafted format. The target product should be something that they can't produce by themselves, and hence they outsource the product. One popular example is Dolby Pvt. Ltd.
Razor and blade model
This is like you sell a printer or razor, which is a one-time product. Still, the component and it will not last long, and consumers have to come again and again for the other component, i.e., for a razor, it is blade; for the printer, it is toner or color cartage.
Here you give some level of service for free; rest you keep paying. At some point, your consumer will realize the paid need for your product and will buy it.