Building a Platform Business Case

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9 Terms

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Platform business model
A framework that facilitates value-creating interactions between external producers and consumers.
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Scalability
The ability for platforms to grow rapidly as network effects increase value with more participants.
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Cost Efficiency
Lower operational costs as platforms do not directly own the products being sold.
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Flexibility
The ease of innovating and adapting to changes in market demands or technology in a platform business.
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Building the Ecosystem
The challenge of attracting users and partners to create a vibrant platform, particularly in early stages.
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Governance
The establishment of rules and processes for interactions on a platform to ensure fairness and compliance.
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Competition
The necessity to differentiate a platform from competitors to sustain growth and value.
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Airbnb and Uber
Examples of successful platforms that illustrate the effectiveness of platform business models through unique user experiences.
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Dynamic of platform business models
Understanding how these models work is crucial for businesses looking to pursue a platform strategy.