Question 1

Perfect Grind is a coffee shop near Seattle, Washington.What might be considered one of its key activities?

Accepted Answer

A) purchasing a coffee steamer 
B) stock management 
C) customer relationships 
D) determining resources for expansion 
A) purchasing a coffee steamer 
B) stock management 
C) customer relationships 
D) determining resources for expansion

Question 2

What are the four major categories of problems experienced by customers?

Accepted Answer

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

Question 3

Which approach to CVP involves listing all the benefits of your product or service without comparing it to others?

Accepted Answer

A) the list approach 
B) the all-benefits approach 
C) the pro and con listing 
D) the pitch approach 
A) the list approach 
B) the all-benefits approach 
C) the pro and con listing 
D) the pitch approach

Question 4

What in the business model will contribute to competitive advantage?

Accepted Answer

A) the infrastructure 
B) the offering 
C) financial viability 
D) all of these 
A) the infrastructure 
B) the offering 
C) financial viability 
D) all of these

Question 5

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

Accepted Answer

A) people 
B) technology 
C) facilities 
D) all of these 
A) people 
B) technology 
C) facilities 
D) all of these

Question 6

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

Question 7

Amazon serves a diversified market because it has multiple products and services that serve several unrelated groups of customers.

Accepted Answer

A) True 
 B)False

Question 8

In the case example of Rocket Internet, how did the business model differ from the companies they copied?

Accepted Answer

A) They were clones, and thus the model was exactly the same. 
B) They addressed a different market segment within the global market. 
C) They offer improved products. 
D) They give the clone companies more time to succeed. 
A) They were clones, and thus the model was exactly the same. 
B) They addressed a different market segment within the global market. 
C) They offer improved products. 
D) They give the clone companies more time to succeed.

Question 9

Business models help entrepreneurs generate ______ and ______.

Accepted Answer

A) value; scale 
B) hypotheses; tests 
C) income; markets 
D) ideas; partners 
A) value; scale 
B) hypotheses; tests 
C) income; markets 
D) ideas; partners

Question 10

Which of the following defines the term mass market?

Accepted Answer

A) a generic group outside the target market 
B) a large crowd of nondiscriminating consumers 
C) a large group of customers with similar needs or problems 
D) a global market 
A) a generic group outside the target market 
B) a large crowd of nondiscriminating consumers 
C) a large group of customers with similar needs or problems 
D) a global market

Question 11

Define the market segment targeted by Facebook.Describe how that segment may or may not be the same as originally planned.

Accepted Answer

Originally the target market included mo

Question 12

In a peer-to-peer business model, ______.

Accepted Answer

A) businesses sell products that are unique to a limited number of peer customers 
B) products and services are better than traditional services 
C) distribution occurs in a different way from traditional services 
D) interactions are business to business 
A) businesses sell products that are unique to a limited number of peer customers 
B) products and services are better than traditional services 
C) distribution occurs in a different way from traditional services 
D) interactions are business to business

Question 13

An Internet-based company lists comments from customers that include how the product was used and adapted to fill their needs.This is an example of ______.

Accepted Answer

A) a resonating focus 
B) customer satisfaction 
C) direct marketing 
D) intervening marketing 
A) a resonating focus 
B) customer satisfaction 
C) direct marketing 
D) intervening marketing

Question 14

Which of the following BMC element refers to building positive feelings about your business and customer loyalty?

Accepted Answer

A) value proposition 
B) customer relationships 
C) market segmentation 
D) customer loyalty plans 
A) value proposition 
B) customer relationships 
C) market segmentation 
D) customer loyalty plans

Question 15

The infrastructure of the business model does not identify people only technology and facilities.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) appeal to the high-tech needs of customers 
B) fit into customers' lifestyles 
C) fill a large market 
D) appeal to customers who can afford the product 
A) appeal to the high-tech needs of customers 
B) fit into customers' lifestyles 
C) fill a large market 
D) appeal to customers who can afford the product

Question 17

What problem did FedEx solve for customers in its CVP?

Accepted Answer

A) the lack of easy, door-to-door, overnight delivery of packages 
B) the lack of customer signatures of received goods 
C) the lack of alternatives to the USPS 
D) the lack of prepackaged envelopes 
A) the lack of easy, door-to-door, overnight delivery of packages 
B) the lack of customer signatures of received goods 
C) the lack of alternatives to the USPS 
D) the lack of prepackaged envelopes

Question 18

In creating your own BMC, what side of the canvas should you focus on first?

Accepted Answer

A) the value delivery side 
B) the value creation side 
C) start anywhere 
D) start with your product description 
A) the value delivery side 
B) the value creation side 
C) start anywhere 
D) start with your product description

Question 19

In the case study, VF offers which of the following as a value?

Accepted Answer

A) finding the expertise to build a testable product quickly 
B) an engineering service 
C) a service in Pakistan 
D) business planning support 
A) finding the expertise to build a testable product quickly 
B) an engineering service 
C) a service in Pakistan 
D) business planning support

Question 20

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

Accepted Answer

A) market segment 
B) channels 
C) value proposition 
D) customer segment 
A) market segment 
B) channels 
C) value proposition 
D) customer segment

Perfect Grind is a coffee shop near Seattle, Washington.What might be considered one of its key activities?

What are the four major categories of problems experienced by customers?

Which approach to CVP involves listing all the benefits of your product or service without comparing it to others?

What in the business model will contribute to competitive advantage?

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

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?

Amazon serves a diversified market because it has multiple products and services that serve several unrelated groups of customers.

In the case example of Rocket Internet, how did the business model differ from the companies they copied?

Business models help entrepreneurs generate and .

Which of the following defines the term mass market?

Define the market segment targeted by Facebook.Describe how that segment may or may not be the same as originally planned.

In a peer-to-peer business model, ______.

An Internet-based company lists comments from customers that include how the product was used and adapted to fill their needs.This is an example of ______.

Which of the following BMC element refers to building positive feelings about your business and customer loyalty?

The infrastructure of the business model does not identify people only technology and facilities.

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

What problem did FedEx solve for customers in its CVP?

In creating your own BMC, what side of the canvas should you focus on first?

In the case study, VF offers which of the following as a value?

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

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters

Exam 8: Building Business Models

Perfect Grind is a coffee shop near Seattle, Washington.What might be considered one of its key activities?

What are the four major categories of problems experienced by customers?

Which approach to CVP involves listing all the benefits of your product or service without comparing it to others?

What in the business model will contribute to competitive advantage?

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

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?

Amazon serves a diversified market because it has multiple products and services that serve several unrelated groups of customers.

In the case example of Rocket Internet, how did the business model differ from the companies they copied?

Business models help entrepreneurs generate ______ and ______.

Which of the following defines the term mass market?

Define the market segment targeted by Facebook.Describe how that segment may or may not be the same as originally planned.

In a peer-to-peer business model, ______.

An Internet-based company lists comments from customers that include how the product was used and adapted to fill their needs.This is an example of ______.

Which of the following BMC element refers to building positive feelings about your business and customer loyalty?

The infrastructure of the business model does not identify people only technology and facilities.

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

What problem did FedEx solve for customers in its CVP?

In creating your own BMC, what side of the canvas should you focus on first?

In the case study, VF offers which of the following as a value?

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

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters

Business models help entrepreneurs generate and .