Question 1

Which of the following is necessary for an effective CVP?

Accepted Answer

A) It must be lower in cost than that offered by competitors. 
B) It must offer a giveaway or something extra. 
C) It must be measureable in monetary terms. 
D) It must offer occasional discounts and rewards. 
A) It must be lower in cost than that offered by competitors. 
B) It must offer a giveaway or something extra. 
C) It must be measureable in monetary terms. 
D) It must offer occasional discounts and rewards. C

Question 2

What was the likely reason that VF changed the way it received money for its services?

Accepted Answer

A) They lacked ideas for manufacturing. 
B) Business startups did not have up-front cash. 
C) It was ultimately more lucrative. 
D) There was little risk in the investment. 
A) They lacked ideas for manufacturing. 
B) Business startups did not have up-front cash. 
C) It was ultimately more lucrative. 
D) There was little risk in the investment. B

Question 3

A ______ is a formal document that provides, among other things, background and financial information about the company.

Accepted Answer

A) business model 
B) business plan 
C) business strategy 
D) investor plan 
A) business model 
B) business plan 
C) business strategy 
D) investor plan B

Question 4

Alice picks up a package of security software and reviews the back cover.On it, it lists various features and compares the software's performance against its competitors, relative to those features.The result is a matrix of xs and the software has more xs than its competitors.This approach to CVP demonstrates which of the following?

Accepted Answer

A) all-benefits approach 
B) points-of-difference approach 
C) point-summary approach 
D) competitive assessment approach 
A) all-benefits approach 
B) points-of-difference approach 
C) point-summary approach 
D) competitive assessment approach

Question 5

Consider the online store, Amazon.com.Describe some of the ways that the store's BMC achieves customer relationship.

Accepted Answer

Answers can include answers within any m

Question 6

This market describes two or more customer segments that are linked mutually but independent of each other.

Accepted Answer

A) mass market 
B) diversified market 
C) matching markets 
D) multisided markets 
A) mass market 
B) diversified market 
C) matching markets 
D) multisided markets

Question 7

What are the four parts of a business model?

Accepted Answer

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

Question 8

What major customer problem did MinuteClinic 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 9

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 10

Which of the following is most likely to have a diversified market?

Accepted Answer

A) Home Depot 
B) The Dollar Tree 
C) Petco 
D) Babies R Us 
A) Home Depot 
B) The Dollar Tree 
C) Petco 
D) Babies R Us

Question 11

The Perfect Grind offers drive-through coffee and snacks to commuters coming to and from work.They also cater to college students who attend a community college a block away.What would describe the Perfect Grinds' target customer?

Accepted Answer

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

Question 12

A diversified market offers a variety of service to two or more customer segments with different needs and problems.

Accepted Answer

A) True 
 B)False

Question 13

Identify the customer value proposition of your local cable company.

Accepted Answer

Answers will vary.Target market will inc

Question 14

What is meant by scalable?

Accepted Answer

A) The business can function as it grows. 
B) The business can hold its weight. 
C) The business can be franchised. 
D) The business can be scaled back. 
A) The business can function as it grows. 
B) The business can hold its weight. 
C) The business can be franchised. 
D) The business can be scaled back.

Question 15

While startups can be flexible in their model, what should be the caution for existing models?

Accepted Answer

A) Do not change after you have a workable model. 
B) Be sure you have your model solidified before the company grows. 
C) Any company should be ready for adjustments and changes as markets change. 
D) A business model should be changed at least once a year. 
A) Do not change after you have a workable model. 
B) Be sure you have your model solidified before the company grows. 
C) Any company should be ready for adjustments and changes as markets change. 
D) A business model should be changed at least once a year.

Question 16

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

Accepted Answer

A) the value proposition and customer segments 
B) customer segments 
C) the value proposition 
D) customer segments and channels 
A) the value proposition and customer segments 
B) customer segments 
C) the value proposition 
D) customer segments and channels

Question 17

What would be the best definition of a business model?

Accepted Answer

A) a small pilot of the business as it will be practiced 
B) a series of hypotheses that suggest business practices 
C) a plan for expansion 
D) a framework that describes how a company creates, delivers, and extracts value 
A) a small pilot of the business as it will be practiced 
B) a series of hypotheses that suggest business practices 
C) a plan for expansion 
D) a framework that describes how a company creates, delivers, and extracts value

Question 18

What is the key feature of the resonating-focus approach to CVP?

Accepted Answer

A) It focuses on why people like your product. 
B) It describes all of the features of the product relative to competitors. 
C) It tells customers why they should buy your product. 
D) It describes all the positive features of your product. 
A) It focuses on why people like your product. 
B) It describes all of the features of the product relative to competitors. 
C) It tells customers why they should buy your product. 
D) It describes all the positive features of your product.

Question 19

Under the business model canvas (BMC), what components are related to customers?

Accepted Answer

A) customer segments, channels, and customer relationships 
B) customer segments and value proposition 
C) customer segments and key activities 
D) customer segments and channels only 
A) customer segments, channels, and customer relationships 
B) customer segments and value proposition 
C) customer segments and key activities 
D) customer segments and channels only

Question 20

In Southwest's BMC, the company decided to fly only one type of aircraft.What element of the BMC did this address and what was the effect?

Accepted Answer

A) resources, and it affected the key activities required to repair and maintain the aircraft 
B) resources, and affected customers 
C) key activities and resulted in reduced customer relationships 
D) key activities and resulted in the value proposition 
A) resources, and it affected the key activities required to repair and maintain the aircraft 
B) resources, and affected customers 
C) key activities and resulted in reduced customer relationships 
D) key activities and resulted in the value proposition

Which of the following is necessary for an effective CVP?

What was the likely reason that VF changed the way it received money for its services?

A ______ is a formal document that provides, among other things, background and financial information about the company.

Consider the online store, Amazon.com.Describe some of the ways that the store's BMC achieves customer relationship.

This market describes two or more customer segments that are linked mutually but independent of each other.

What are the four parts of a business model?

What major customer problem did MinuteClinic solve in their CVP?

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

Which of the following is most likely to have a diversified market?

The Perfect Grind offers drive-through coffee and snacks to commuters coming to and from work.They also cater to college students who attend a community college a block away.What would describe the Perfect Grinds' target customer?

A diversified market offers a variety of service to two or more customer segments with different needs and problems.

Identify the customer value proposition of your local cable company.

What is meant by scalable?

While startups can be flexible in their model, what should be the caution for existing models?

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

What would be the best definition of a business model?

What is the key feature of the resonating-focus approach to CVP?

Under the business model canvas (BMC), what components are related to customers?

In Southwest's BMC, the company decided to fly only one type of aircraft.What element of the BMC did this address and what was the effect?

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

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Exam 8: Building Business Models

Which of the following is necessary for an effective CVP?

What was the likely reason that VF changed the way it received money for its services?

A ______ is a formal document that provides, among other things, background and financial information about the company.

Consider the online store, Amazon.com.Describe some of the ways that the store's BMC achieves customer relationship.

This market describes two or more customer segments that are linked mutually but independent of each other.

What are the four parts of a business model?

What major customer problem did MinuteClinic solve in their CVP?

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

Which of the following is most likely to have a diversified market?

The Perfect Grind offers drive-through coffee and snacks to commuters coming to and from work.They also cater to college students who attend a community college a block away.What would describe the Perfect Grinds' target customer?

A diversified market offers a variety of service to two or more customer segments with different needs and problems.

Identify the customer value proposition of your local cable company.

What is meant by scalable?

While startups can be flexible in their model, what should be the caution for existing models?

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

What would be the best definition of a business model?

What is the key feature of the resonating-focus approach to CVP?

Under the business model canvas (BMC), what components are related to customers?

In Southwest's BMC, the company decided to fly only one type of aircraft.What element of the BMC did this address and what was the effect?

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