The subscription economy
is taking off.
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Philips is in full the process of reinventing monetization models for personal healthcare products and services.
New business model
There has been a change. The consumers of today want outcomes and not necessary ownership. Customization, not generalization. Constant improvement and not planned obsolescence.
Switching to a subscription business model that delivers recurring revenues offers significant benefits for both customers and businesses in both B2B and B2C.
New business models have arisen and are all designed to keep customers engaged and nurture a long-term customer relationship —think Netflix, Hello Fresh, Amazon Prime, Uber, Spotify, Microsoft and Salesforce.
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