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A study of revenue model for monetization of the digital asset. Int. J. of Business Innovation and Research.
The primary purpose of the research is to identify the sustainable revenue model when an
automobile company wants to digitize its mobility services using a digital asset and
transform. In order to be a profitable business in the long run after setting up the business
or transformation, there need to be a precise and definite plan on where one’s revenues are
coming from. Hence, finding a revenue model is imperative and should be the first step of a
business plan and thus revenue model is an important part of the business model.
Therefore, the present study tries to identify and validate the suitable revenue model in the
need of changing the course of a business and to find the tipping point of the customers.
The factor analysis is employed on the primary data collected. Moreover, using the publicly
available data, the various revenue models of the companies were studied before and after
the transformation, also after the implementation of the different revenue model. Based on
the interpretations from the primary data for the tipping point, online sales with some
offline touch points are preferred. The consumers vote quality and safety as utmost importance. It can be using an appropriate revenue model indeed helps in improving the revenue of the company. It is crucial to understand the importance of digital transformation in the present rapidly changing digital age and the automotive industry to sustain in the market in long term should adopt these trends as the customers are emerging as value cocreators. The Software as a service (SaaS) revenue model is recommended for the incorporation of mobility services digitally upon studying the trends in the automotive industry in the digital age