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Key Abbreviations in the New Business Modelling Framework
| Abbreviation | Meaning | Description |
|---|---|---|
| CMF | Channel Model Fit | Fit between the business model and the distribution channels, as defined by the business model (channels are defined by the business model). |
| CJM | Customer Journey Map | A visual representation of the customer’s experience and interactions with a product or service, from awareness to post-purchase, highlighting key touchpoints and areas for improvement. |
| DT | Digital Transformation | See Definitions. |
| JTBD | Jobs to Be Done | A framework used to understand the tasks, problems, or goals that customers are trying to accomplish, helping to design products or services that effectively meet their needs. |
| MMF | Model Market Fit | The alignment between the market and the business model, where the market influences the business model. |
| MVP | Minimal Viable Product | A version of a product with a minimal set of features, designed to be usable by early customers who can provide feedback for future product development. |
| NBMF | New Business Modeling Framework | A method of creating new business models and products, as described in this document. |
| NPD | New Product Development | The complete process of bringing a new product to the market. |
| PCF | Product Channel Fit | Availability of a product that satisfies the needs of certain distribution channels. |
| PMF | Product Market Fit | The presence of a product that satisfies the needs of a particular market and has value for the consumer. |