Question 1

MOOCs disrupted higher education by creating free online courses.

Accepted Answer

A) True 
 B)False

Question 2

The revenue and the cost structures would be included in which of the four parts of the business model?

Accepted Answer

A) the offering 
B) infrastructure 
C) financial viability 
D) the customers 
A) the offering 
B) infrastructure 
C) financial viability 
D) the customers

Question 3

Financial viability defines the revenue and cost structures a business needs to meet its expenses and financial obligations.

Accepted Answer

A) True 
 B)False

Question 4

When determining your revenue streams,which of the following questions is among those you should ask yourself?

Accepted Answer

A) How do I establish and maintain relationships with customers? 
B) How much are my customers willing to pay? 
C) What are the most important costs inherent in the business model? 
D) What resources are the most expensive to get? 
A) How do I establish and maintain relationships with customers? 
B) How much are my customers willing to pay? 
C) What are the most important costs inherent in the business model? 
D) What resources are the most expensive to get?

Question 5

Explain why a shopping center is an example of a multisided market.

Accepted Answer

A multisided market appeals to two marke

Question 6

What are the four major categories of problems customers typically experience?

Accepted Answer

A) lack of access,lack of support,lack of money,lack of friends 
B) lack of money,lack of contacts,lack of interest,lack of time 
C) lack of skill,lack of knowledge,lack of support,lack of money 
D) lack of time,lack of money,lack of skill,lack of access 
A) lack of access,lack of support,lack of money,lack of friends 
B) lack of money,lack of contacts,lack of interest,lack of time 
C) lack of skill,lack of knowledge,lack of support,lack of money 
D) lack of time,lack of money,lack of skill,lack of access

Question 7

As described in the text,entrepreneurs Carlton and Hazel Solle created Bioscarf as an alternative to common filtration masks.This is an example of a ______ market.

Accepted Answer

A) mass 
B) niche 
C) segmented 
D) diversified 
A) mass 
B) niche 
C) segmented 
D) diversified

Question 8

Delivering existing products and services to existing customers but with unique differentiation is one approach to a business model.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following would be included when describing the infrastructure?

Accepted Answer

A) financial viability 
B) customers 
C) facilities 
D) the offering 
A) financial viability 
B) customers 
C) facilities 
D) the offering

Question 10

Genetic testing services like 23andMe offer DNA analysis based on a saliva sample submitted by mail.Based on the discussion in the text,what need is 23andMe addressing in their CVP?

Accepted Answer

A) a lack of benefits 
B) a lack of skill 
C) a lack of access 
D) a lack of money 
A) a lack of benefits 
B) a lack of skill 
C) a lack of access 
D) a lack of money

Question 11

The all-benefits approach produces a stronger CVP than points-of-difference because it focuses on the product or service relative to the competition and recognizes that the offering is unique and different.

Accepted Answer

A) True 
 B)False

Question 12

A ______ market is a small market segment comprised of customers with specific needs and requirements.

Accepted Answer

A) mass 
B) niche 
C) multisided 
D) diversified 
A) mass 
B) niche 
C) multisided 
D) diversified

Question 13

Which of the following is necessary for an effective customer value proposition (CVP)?

Accepted Answer

A) It must not have any direct competition. 
B) It must offer better value than the competition. 
C) It must cost less than the competition. 
D) It must offer the exact same value as the competition. 
A) It must not have any direct competition. 
B) It must offer better value than the competition. 
C) It must cost less than the competition. 
D) It must offer the exact same value as the competition.

Question 14

A CVP requires that you think about your business from the perspective of what group?

Accepted Answer

A) the employees 
B) the investors 
C) the customers 
D) the operations team 
A) the employees 
B) the investors 
C) the customers 
D) the operations team

Question 15

BlackBerry,which gained significant market share in the early 2000s in the business,government,and consumer markets,lost market share because ______.

Accepted Answer

A) demand for smartphones declined 
B) competitors offered smartphones with better designs and more features 
C) competitors lowered prices to undercut BlackBerry 
D) its advertising was not focused on new customers 
A) demand for smartphones declined 
B) competitors offered smartphones with better designs and more features 
C) competitors lowered prices to undercut BlackBerry 
D) its advertising was not focused on new customers

Question 16

The offering includes which of the following?

Accepted Answer

A) the investment 
B) the customer value proposition 
C) the market segment 
D) the return on investment 
A) the investment 
B) the customer value proposition 
C) the market segment 
D) the return on investment

Question 17

Which term refers to the CVP approach that involves listing all the advantages of your product or service without comparing it to others?

Accepted Answer

A) product-market fit 
B) all-benefits approach 
C) resonating-focus approach 
D) points-of-difference approach 
A) product-market fit 
B) all-benefits approach 
C) resonating-focus approach 
D) points-of-difference approach

Question 18

Entrepreneurs should try to address every potential customer in a market.

Accepted Answer

A) True 
 B)False

Question 19

What are the four parts of a business model?

Accepted Answer

A) target customers,employees,founders,investors 
B) financing,infrastructure,employees,customers 
C) offering,customers,infrastructure,financial viability 
D) financing,customers,product,service 
A) target customers,employees,founders,investors 
B) financing,infrastructure,employees,customers 
C) offering,customers,infrastructure,financial viability 
D) financing,customers,product,service

Question 20

Christine has obtained a job pitching a product at a local state fair.Her job is to demonstrate cookware,highlighting its features and demonstrating its use as she prepares food for visitors who can watch her cook and try samples.Christine will be selling the cookware based on which CVP type?

Accepted Answer

A) resonating-focus approach 
B) points-of-difference approach 
C) all-benefits approach 
D) product-market fit approach 
A) resonating-focus approach 
B) points-of-difference approach 
C) all-benefits approach 
D) product-market fit approach

MOOCs disrupted higher education by creating free online courses.

The revenue and the cost structures would be included in which of the four parts of the business model?

Financial viability defines the revenue and cost structures a business needs to meet its expenses and financial obligations.

When determining your revenue streams,which of the following questions is among those you should ask yourself?

Explain why a shopping center is an example of a multisided market.

What are the four major categories of problems customers typically experience?

As described in the text,entrepreneurs Carlton and Hazel Solle created Bioscarf as an alternative to common filtration masks.This is an example of a ______ market.

Delivering existing products and services to existing customers but with unique differentiation is one approach to a business model.

Which of the following would be included when describing the infrastructure?

Genetic testing services like 23andMe offer DNA analysis based on a saliva sample submitted by mail.Based on the discussion in the text,what need is 23andMe addressing in their CVP?

The all-benefits approach produces a stronger CVP than points-of-difference because it focuses on the product or service relative to the competition and recognizes that the offering is unique and different.

A ______ market is a small market segment comprised of customers with specific needs and requirements.

Which of the following is necessary for an effective customer value proposition (CVP)?

A CVP requires that you think about your business from the perspective of what group?

BlackBerry,which gained significant market share in the early 2000s in the business,government,and consumer markets,lost market share because ______.

The offering includes which of the following?

Which term refers to the CVP approach that involves listing all the advantages of your product or service without comparing it to others?

Entrepreneurs should try to address every potential customer in a market.

What are the four parts of a business model?

Christine has obtained a job pitching a product at a local state fair.Her job is to demonstrate cookware,highlighting its features and demonstrating its use as she prepares food for visitors who can watch her cook and try samples.Christine will be selling the cookware based on which CVP type?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters

Exam 5: Building Business Models

MOOCs disrupted higher education by creating free online courses.

The revenue and the cost structures would be included in which of the four parts of the business model?

Financial viability defines the revenue and cost structures a business needs to meet its expenses and financial obligations.

When determining your revenue streams,which of the following questions is among those you should ask yourself?

Explain why a shopping center is an example of a multisided market.

What are the four major categories of problems customers typically experience?

As described in the text,entrepreneurs Carlton and Hazel Solle created Bioscarf as an alternative to common filtration masks.This is an example of a ______ market.

Delivering existing products and services to existing customers but with unique differentiation is one approach to a business model.

Which of the following would be included when describing the infrastructure?

Genetic testing services like 23andMe offer DNA analysis based on a saliva sample submitted by mail.Based on the discussion in the text,what need is 23andMe addressing in their CVP?

The all-benefits approach produces a stronger CVP than points-of-difference because it focuses on the product or service relative to the competition and recognizes that the offering is unique and different.

A ______ market is a small market segment comprised of customers with specific needs and requirements.

Which of the following is necessary for an effective customer value proposition (CVP)?

A CVP requires that you think about your business from the perspective of what group?

BlackBerry,which gained significant market share in the early 2000s in the business,government,and consumer markets,lost market share because ______.

The offering includes which of the following?

Which term refers to the CVP approach that involves listing all the advantages of your product or service without comparing it to others?

Entrepreneurs should try to address every potential customer in a market.

What are the four parts of a business model?

Christine has obtained a job pitching a product at a local state fair.Her job is to demonstrate cookware,highlighting its features and demonstrating its use as she prepares food for visitors who can watch her cook and try samples.Christine will be selling the cookware based on which CVP type?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters