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 the hotel industry, a 'revenue-model' might be based on room bookings. A hotelier might say, 'Our core revenue-model is based on peak season bookings and event hosting.'

Practice Scenarios

Business

Scenario:

Our profits this quarter were lower than the forecast. We may need to tweak or diversify our revenue streams.

Response:

You're right, it's crucial for the sustainability of our business to reevaluate our revenue model and consider other potential profit sources.

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.