Exam 5: Building Business Models

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

Define the business model and identify its four core areas.

For a business model's CVP to be effective,it must offer better value than the competition.

In the business model canvas (BMC),what is covered under the offering?

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

What is the relationship between the business plan and the business model?

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.

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

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.

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

Which term describes two or more customer segments that are linked but independent of each other?

Multisided markets describe a variety of services that serve two or more segments with very different needs and problems,which bear no relationship to each other.

In the business model canvas (BMC),what components are included in financial viability?

Andrew owns a popular but expensive Chinese restaurant.In order to introduce more people to his brand,he offers a series of one-time "taste fairs" in which he brings his recipes to a locally sponsored event.Customers are able to pay modest amounts for small servings of his creations while not paying for the ambiance of the famous restaurant.What problem is Andrew addressing?

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

What problem did FedEx solve for customers in its CVP?

Jerry has stated that his business appeals to people 50 years of age and older who are restructuring their finances for retirement plans.What has Jerry defined?

What are the four parts of a business model?

The business plan describes the rationale of how a new venture creates,delivers,and captures value.

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?