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Razor Blade Model – How this Hook and Bait Business Model Works? [Video]

Razor Blade Model – How this Hook and Bait Business Model Works?

In this video, we discuss Razor Blade model, how this business model works, examples, real life applications, and its disadvantages

Chapters
00:00 Introduction
01:00 What is a Razor Blade Business Model?
01:24 How Does it Work?
01:48 Razor Blade Business Model Example
03:13 Real Life Example
04:00 Crux of Razor Blade Business Model
05:03 Why customers keep buying?
06:56 Disadvantages

What is a Razor Blade Business Model ?
It is a pricing tactic that is used for increasing sales, where a specific goods is sold at loss whereas a paired consumable goods is sold at a higher price to generate profit.

Mechanism used in the razor blade business
– proprietary interface
– contractual terms
– consumer emotion
– consumer’s behavior.

Disadvantages of razor blade business
– Difficult to start a business using this strategy
– winners take the most
– high pressure for the industry to increase exponentially
– generate vast amounts of waste.

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