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Exam 5: Building Business Models

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Question 21

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

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.

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Question 22

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

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A multisided market appeals to two marke...

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Question 23

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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.

MOOCs disrupted higher education by creating free online courses.

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

The offering includes which of the following?

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

What are the four parts of a business model?

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

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

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?

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

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?

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

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

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

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?

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

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.