Freemium Model is a pricing strategy where businesses offer a basic version of a product or service for free and charge for premium features or enhanced functionalities. Users access the core offering without cost, and the business generates revenue by enticing users to upgrade to a paid version for additional benefits. This model serves as both a customer acquisition strategy, attracting a wide user base, and a monetization strategy, encouraging some users to pay for advanced features. Common in software, mobile apps, and online services, the freemium model provides a balance between accessibility and revenue generation.

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