Business Model Enhancement
Frank N. Magid Associates works with a variety of companies to research, refine, evolve and/or develop new business models. By applying experience-based frameworks and perspectives, we assess existing business models, determine areas for improvement, and identify and build out new business models. Key elements of this process include identifying unique value propositions, examining operational approaches and profit mechanisms, assessing the impact of technological and competitive change, and determining the client’s ability to execute these changes. Changing or evolving business models can be challenging, and Magid is there every step of the way to ensure that the new approach is executed successfully. The business model evolution process answers key questions, including:
- Where does the extraordinary value reside?
- For what internal business unit is the company developing this strategy?
- What are the sources of business value?
- What will allow the client company to develop its business model?
- What must the client do to make the strategy work?
- What are the critical success factors needed to execute this strategy (e.g. key partnerships, organizational requirements, etc.)?
Utilizing Magid's Mobile Industry Expertise and International Research Capabilities to Assess the Viability of Mobile Gambling in Europe
A US-based mobile handset manufacturer believed it could drive international sales by taking advantage of the popularity of mobile gambling in Europe. Utilizing Frank N. Magid Associates' European research partners and mobile strategy expertise, the company partnered with Magid to conduct research across European markets to determine the market size and opportunity for mobile gambling, and understand how to optimize its offering according to local tastes, cultural dynamics, and brand affinity. Magid’s research revealed that the client’s hypothesis overstated the actual popularity of mobile gambling, and was a weak product and brand fit for the manufacturer. As a result, the client allocated its resources and investments in more promising new business development opportunities.