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

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


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.

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B

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


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

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Identify the customer value proposition of your local cable company.

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Answers will vary.Target market will inc...

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

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Answers can include answers within any m...

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What would be the best definition of a business model?


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

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


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

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What major customer problem did MinuteClinic solve in their CVP?


A) lack of time
B) lack of access
C) lack of skill
D) lack of money

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


A) the employees
B) the investors
C) the customers
D) the operations team

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


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

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B

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


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

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

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


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

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What are the four parts of a business model?


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

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Which of the following is necessary for an effective CVP?


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.

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C

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


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.

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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?


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

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


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.

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What is meant by scalable?


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.

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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?


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

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