Question 1

The answer to the question,"What are the different ways I can reach my customer?" will result in which component of the BMC?

Accepted Answer

A) customer segments 
B) channels 
C) value proposition 
D) customer segments. 
A) customer segments 
B) channels 
C) value proposition 
D) customer segments.

Question 2

Fulfilling unmet customer needs using an existing product or service is called ______.

Accepted Answer

A) durability 
B) adaptation 
C) differentiation 
D) viability 
A) durability 
B) adaptation 
C) differentiation 
D) viability

Question 3

The practice of hypothesizing,testing,and validating to create a business model is called ______.

Accepted Answer

A) scientific entrepreneurship 
B) evidence-based entrepreneurship 
C) business planning 
D) customer value planning 
A) scientific entrepreneurship 
B) evidence-based entrepreneurship 
C) business planning 
D) customer value planning

Question 4

When entrepreneurs are figuring out suppliers,associates,and distributors,they are determining ______.

Accepted Answer

A) key resources 
B) key partners 
C) channels 
D) revenue streams 
A) key resources 
B) key partners 
C) channels 
D) revenue streams

Question 5

Blackberry and Kodak are discussed in the text as examples of companies that were able to successfully change their business models in order to adapt to changes in the market.

Accepted Answer

A) True 
 B)False

Question 6

As presented in the text,what major customer problem did ThedaCare hospital system solve in their CVP?

Accepted Answer

A) lack of time 
B) lack of access 
C) lack of skill 
D) lack of money 
A) lack of time 
B) lack of access 
C) lack of skill 
D) lack of money

Question 7

Which of the following offers a variety of products to two or more customer segments with different needs,even if the resulting markets are unrelated to one another?

Accepted Answer

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

Question 8

Which of the following is considered the "gold standard" for CVPs?

Accepted Answer

A) all-benefits approach 
B) points-of-difference approach 
C) resonating-focus approach 
D) low-cost advantage approach 
A) all-benefits approach 
B) points-of-difference approach 
C) resonating-focus approach 
D) low-cost advantage approach

Question 9

How do business models help entrepreneurs create value?

Accepted Answer

A) by fulfilling unmet needs in an existing market 
B) by ensuring profits will be made 
C) by guaranteeing the stock will be valued 
D) by providing an interview template for new customers 
A) by fulfilling unmet needs in an existing market 
B) by ensuring profits will be made 
C) by guaranteeing the stock will be valued 
D) by providing an interview template for new customers

Question 10

Define the business model and identify its four core areas.

Accepted Answer

The business model is the framework for

Question 11

Which of the following is the BMC component most involved with building positive feelings about your business and customer loyalty?

Accepted Answer

A) value proposition 
B) customer relationships 
C) key activities 
D) channels 
A) value proposition 
B) customer relationships 
C) key activities 
D) channels

Question 12

When determining your cost structure,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 activities can be outsourced? 
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 activities can be outsourced? 
D) What resources are the most expensive to get?

Question 13

The ______ approach to CVP involves identifying and promoting all the benefits of your product or service relative to the competition and recognizes your offering is unique and different from others in the market.

Accepted Answer

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

Question 14

The first step in creating your CVP is ______.

Accepted Answer

A) persuading customers to purchase your product or service 
B) persuading customers to sign up for your marketing emails 
C) discovering your customers' contact information 
D) uncovering what your customer really needs 
A) persuading customers to purchase your product or service 
B) persuading customers to sign up for your marketing emails 
C) discovering your customers' contact information 
D) uncovering what your customer really needs

Question 15

Consider the many Amazon.com business models.Using the text's definition of a business model,choose two of Amazon's and describe them in detail.

Accepted Answer

The text defines a business model as the

Question 16

Breaking customers into groups according to their different needs and problems would create which of the following market types?

Accepted Answer

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

Question 17

A common feature in the stories in the text about IKEA,FedEx,and Tata Motors is that ______.

Accepted Answer

A) they all sell unique products to a limited number of peer customers 
B) each company has created its own processes and resource models to suit its CVP and industry 
C) distribution occurs in a different way from traditional services 
D) interactions are business to business 
A) they all sell unique products to a limited number of peer customers 
B) each company has created its own processes and resource models to suit its CVP and industry 
C) distribution occurs in a different way from traditional services 
D) interactions are business to business

Question 18

What type of target market do toilet paper manufacturers target?

Accepted Answer

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

Question 19

To develop a good CVP,products must not only fulfill a need but also ______.

Accepted Answer

A) have a technological component 
B) fit into customers' lifestyles 
C) fill a large market 
D) appeal to affluent customers 
A) have a technological component 
B) fit into customers' lifestyles 
C) fill a large market 
D) appeal to affluent customers

Question 20

What is the right side of the BMC focused on?

Accepted Answer

A) value delivery 
B) value creation 
C) idea generation 
D) the value proposition 
A) value delivery 
B) value creation 
C) idea generation 
D) the value proposition

The answer to the question,"What are the different ways I can reach my customer?" will result in which component of the BMC?

Fulfilling unmet customer needs using an existing product or service is called ______.

The practice of hypothesizing,testing,and validating to create a business model is called ______.

When entrepreneurs are figuring out suppliers,associates,and distributors,they are determining ______.

Blackberry and Kodak are discussed in the text as examples of companies that were able to successfully change their business models in order to adapt to changes in the market.

As presented in the text,what major customer problem did ThedaCare hospital system solve in their CVP?

Which of the following offers a variety of products to two or more customer segments with different needs,even if the resulting markets are unrelated to one another?

Which of the following is considered the "gold standard" for CVPs?

How do business models help entrepreneurs create value?

Define the business model and identify its four core areas.

Which of the following is the BMC component most involved with building positive feelings about your business and customer loyalty?

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

The ______ approach to CVP involves identifying and promoting all the benefits of your product or service relative to the competition and recognizes your offering is unique and different from others in the market.

The first step in creating your CVP is ______.

Consider the many Amazon.com business models.Using the text's definition of a business model,choose two of Amazon's and describe them in detail.

Breaking customers into groups according to their different needs and problems would create which of the following market types?

A common feature in the stories in the text about IKEA,FedEx,and Tata Motors is that ______.

What type of target market do toilet paper manufacturers target?

To develop a good CVP,products must not only fulfill a need but also ______.

What is the right side of the BMC focused on?

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

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Exam 5: Building Business Models

The answer to the question,"What are the different ways I can reach my customer?" will result in which component of the BMC?

Fulfilling unmet customer needs using an existing product or service is called ______.

The practice of hypothesizing,testing,and validating to create a business model is called ______.

When entrepreneurs are figuring out suppliers,associates,and distributors,they are determining ______.

Blackberry and Kodak are discussed in the text as examples of companies that were able to successfully change their business models in order to adapt to changes in the market.

As presented in the text,what major customer problem did ThedaCare hospital system solve in their CVP?

Which of the following offers a variety of products to two or more customer segments with different needs,even if the resulting markets are unrelated to one another?

Which of the following is considered the "gold standard" for CVPs?

How do business models help entrepreneurs create value?

Define the business model and identify its four core areas.

Which of the following is the BMC component most involved with building positive feelings about your business and customer loyalty?

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

The ______ approach to CVP involves identifying and promoting all the benefits of your product or service relative to the competition and recognizes your offering is unique and different from others in the market.

The first step in creating your CVP is ______.

Consider the many Amazon.com business models.Using the text's definition of a business model,choose two of Amazon's and describe them in detail.

Breaking customers into groups according to their different needs and problems would create which of the following market types?

A common feature in the stories in the text about IKEA,FedEx,and Tata Motors is that ______.

What type of target market do toilet paper manufacturers target?

To develop a good CVP,products must not only fulfill a need but also ______.

What is the right side of the BMC focused on?

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