Question

1. what is a freemiumstrategy

2. indicate and elaborate on three unique characteristics of Digital Business

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What is a premiumstrategy?

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Answer 1

What is a freemium strategy? Freemium is typically a pricing strategy, by which product, result and services can be provided free of charge but certain payment to be charged for additional features, services, virtual/online and physical products, goods and services, that could go offline, all these mostly applied to digital offering, let’s say Games, web services, software and application related product or features, such business model used by software Industries or Online Industries and game Industries,

Indicate and elaborate on three unique characteristics of Digital Business? Let me explain out along with elaboration of three unique characteristics of digital Business like as stated below: Hyper convenience: It is not just about the process, further making it easy to see, understand and engage with everything, so that a brand has to offer, for Example Ola offers from basic cars to various town cars, those are available within the same application, Netflix is also available on various devices like TVs, Computers, Mobile, even on smart watches, Proactive Personalization: Companies those embraces digitization and work on website analytics, they can get many information about the subscriber for their website, like where is the location of customers, what they like to buy, how they usually pay, who they want to refer, what kind of delivery they want, how is their choices and what devices they are using, further customer want to know the ratings and feedback for the product, they want to buy, they want to see how is the efficacy of the product, that they are about to choose, further there are many marketing tools like email marketing, Google analytics, and others options as applicable those can provide statistics about the website visiting, product marketing, lead generation, can further tell about the target market, also show the option to generate more traffic for the websites and purchasing Massive shift in Value: Many organization those are digital leaders, they are changing features over the time, replacing pre-digital way of doing various things, for example Google has replaced Librarian, Skype has replaced telephone, Amazon has replaced Brick and Mortar shop, Uber replaced ordinary Taxi, so Digital organization generate value over time, keep themselves creative, Innovative, and focus on automation drive or AI Tools for capturing more customers, bring hassle free life for the customers,