Important Factors for Enterprise Growth Essay

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Important Factors for Enterprise Growth What is more important for enterprise growth: a better product or service, or a better business model? Although both are important factors for enterprise growth, but I believe a better business model is more important for enterprise growth. According to Meyer, a better product or service can help to establish with competitors and a better business model can lead to new ways to make money from products and services. You can create an outstanding product but it is not guarantee to sell. On the other hand, a better business model can define who the customers are, how the products value to customers compare to other competitions, and how can we add services and other products to the existing products and services to increase enterprise growth. All these help to identify a better market to promote the products and services to the right group of the customers, and new ways to make money from products and services. A better product or service can help a company make a difference to establish from competitions and lead in the differentiation area, but not necessary help to grow the company. For example, MP3 players started around 1997 and by late 2001, when Apple iPod enter the market there were many similar products on the market, which lead the beginning of the price war with the six major players (Diamond Rio, Creative NOMAD, Archos Jukebox, and others). Started in 2002 Apple iPod stormed the market. Unlike other companies, Apple did not enter the MP3 market to compete with the price war; in contrast iPod was selling in a premium price with similar hardware configurations. While many MP3 player companies only selling the product itself that leave the buyers to look for the MP3 rip software and song management software, Apple included those software. By 2004, after Apple introduced the iTunes Store that customers can buy
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