Analyzing business models in products, platforms, or ecosystems

Purpose: This conceptual article argues that the definition of a business model should be different for products, platforms, and ecosystems. Design/Methodology/Approach: Building on existing literature, this article suggests a clarification on the business model construct. We summarize the dispersed literature on defining the concept and proposes a converging approach to suit three different contexts. Research Limitations/Implications: The paper presents illustrative examples for different contextual approaches. However, we are restricted to simplifications when both summarizing the existing literature and presenting the empirical examples. Practical Implications: The presented model can increase the clarity and applicability of the business model concept for both scholars and practitioners. Originality/Value: We offer a new converging perspective to business model research, clarifying the benefits and applicability of the competing definitions. We argue that the different approaches help to delineate the typical characteristics of a business model, depending on the context of evaluation.