revenue-model

Vocabulary Word

Definition

A 'revenue model' refers to the specific ways a business earns money or profits. It can include selling products, providing services, or other methods that drive revenue.

Examples in Different Contexts

In a music band, the 'revenue-model' might come from concert tickets and album sales. A band manager could assert, 'Our main revenue streams are live performances and digital downloads.'

Practice Scenarios

Design

Scenario:

Has the design studio considered offering design workshops to supplement its income?

Response:

That's an interesting suggestion. Offering workshops could brilliantly complement our existing revenue model.

Tech

Scenario:

The users responded positively to our new premium subscription offer. Maybe we should further explore recurring revenue opportunities.

Response:

Definitely, subscriptions prove to be a dependable revenue model in the tech industry, we should expand on that.