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The business model canvas is a tool designed to describe, analyze, and invent business models. It serves as a "canvas" to illustrate both existing and new models, making them tangible. The canvas comprises nine building blocks, starting with customer segments, which allows businesses to identify the customers they serve. For example, a newspaper has two main customer segments: readers seeking information and entertainment, and advertisers looking to reach an audience. Each segment has distinct jobs to be done and requires tailored value propositions and products. This framework facilitates understanding and innovation in business modeling.
