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Monetization Strategies in Product Management

Monetization strategies are methods by which a product or service generates revenue. These can range from direct sales and subscription models to freemium approaches where the basic product is free, but users pay for premium features. Effective monetization is critical for the sustainability and growth of a product.

Example

Dropbox employs a freemium monetization strategy, offering basic cloud storage services for free while charging for additional storage and advanced features. This approach encourages initial adoption and provides a clear upgrade path as user needs grow.