Question 1

The offering includes which of the following?

Accepted Answer

A)  the investment
B)  the customer value proposition
C)  the market segment
D)  the return on investment

Question 2

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

Accepted Answer

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

Question 3

Doug Halls describes the one big benefit you offer your customer can be determined by asking the question "Why should I care?".

Accepted Answer

A) True 
 B)False

Question 4

Describe ways in which Amazon.com's BMC achieves customer relationships.(Remember,the key to customer relationships is to answer: How do you establish and maintain relationships with your customers?)

Accepted Answer

Answers can include answers within any m...

Question 5

An entrepreneur's business model must be flexible in order to respond to new information.

Accepted Answer

A) True 
 B)False

Question 6

Coke and Pepsi are examples of companies that address the mass market.

Accepted Answer

A) True 
 B)False

Question 7

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.

Accepted Answer

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

Question 8

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?

Question 9

What type of target market do toilet paper manufacturers target?

Accepted Answer

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

Question 10

In 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

Question 11

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

Accepted Answer

A)  organizational design,facilities,and key resources
B)  key assets,key resources,and channels
C)  key activities,key resources,key partners
D)  cost structure,channels,and key partners

Question 12

Consider that you are selling a Jeep SUV to a customer in Maine.Identify the key points in a resonating focus CVP approach.

Accepted Answer

Answers will vary but should focus on th...

Question 13

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

Accepted Answer

A multisided market appeals to two marke...

Question 14

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

Accepted Answer

A)  the offering
B)  infrastructure
C)  financial viability
D)  the customers

Question 15

Gift Prescriptions is a company that offers small gifts that can be left behind in doctors' offices.Gift Prescriptions sells their gifts to pharmaceutical companies and medical supply stores who want to leave doctors a small gift in appreciation for their time.Gift Prescriptions' market segment would be described as a ______ market.

Accepted Answer

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

Question 16

A diversified market offers a variety of services to two or more customer segments with different needs and problems,which bear no relationship to each other.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following allowed Tata Motors to be successful?

Accepted Answer

A)  its low-cost cars
B)  its small cars
C)  its self-parking cars
D)  its line of attractively designed scooters

Question 18

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

Question 19

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

Accepted Answer

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

Question 20

It is typically easier for new businesses to change their business model because new businesses ______.

Accepted Answer

A)  have the capital to fund such changes
B)  have not yet formulated a business plan
C)  have no competitors
D)  tend to be smaller and more agile

Exam 5: Building Business Models

A diversified market offers a variety of services to two or more customer segments with different needs and problems,which bear no relationship to each other.

Correct Answer
verified

Doug Halls describes the one big benefit you offer your customer can be determined by asking the question "Why should I care?".

Correct Answer
verified

An entrepreneur's business model must be flexible in order to respond to new information.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

The offering includes which of the following?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

What type of target market do toilet paper manufacturers target?

Correct Answer
verified

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.

Correct Answer
verified

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

Correct Answer
verified
A multisided market appeals to two marke...
View Answer

It is typically easier for new businesses to change their business model because new businesses ______.

Correct Answer
verified

Coke and Pepsi are examples of companies that address the mass market.

Correct Answer
verified

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

Correct Answer
verified

Consider that you are selling a Jeep SUV to a customer in Maine.Identify the key points in a resonating focus CVP approach.

Correct Answer
verified
Answers will vary but should focus on th...
View Answer

Which of the following allowed Tata Motors to be successful?

Correct Answer
verified

Describe ways in which Amazon.com's BMC achieves customer relationships.(Remember,the key to customer relationships is to answer: How do you establish and maintain relationships with your customers?)

Correct Answer
verified
Answers can include answers within any m...
View Answer

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

Correct Answer
verified

Exam 5: Building Business Models

A diversified market offers a variety of services to two or more customer segments with different needs and problems,which bear no relationship to each other.

Correct AnswerverifiedShow Answer

Doug Halls describes the one big benefit you offer your customer can be determined by asking the question "Why should I care?".

Correct AnswerverifiedShow Answer

An entrepreneur's business model must be flexible in order to respond to new information.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The offering includes which of the following?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What type of target market do toilet paper manufacturers target?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedA multisided market appeals to two marke...View AnswerShow Answer

It is typically easier for new businesses to change their business model because new businesses ______.

Correct AnswerverifiedShow Answer

Coke and Pepsi are examples of companies that address the mass market.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Consider that you are selling a Jeep SUV to a customer in Maine.Identify the key points in a resonating focus CVP approach.

Correct AnswerverifiedAnswers will vary but should focus on th...View AnswerShow Answer

Which of the following allowed Tata Motors to be successful?

Correct AnswerverifiedShow Answer

Describe ways in which Amazon.com's BMC achieves customer relationships.(Remember,the key to customer relationships is to answer: How do you establish and maintain relationships with your customers?)

Correct AnswerverifiedAnswers can include answers within any m...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A multisided market appeals to two marke...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary but should focus on th...
View Answer

Correct Answer
verified

Correct Answer
verified
Answers can include answers within any m...
View Answer

Correct Answer
verified