Entrep Review for Midterm

The "Key Partners" section on the Business Model Canvas primarily focuses on:

• Competitors

• Suppliers and collaborators

• Customers

• Investors

"Coopetition" is a term used to describe the situation where competitors cooperate to:

• Eliminate each other

• Gain a competitive advantage

• Jointly manage and mitigate risks in partnerships

• Avoid partnerships

Within the context of Key Activities, "Marketing" encompasses actions related to:

• Product development

• Cost management

• The promotion of products and the creation of brand awareness

• Financial analysis

Physical assets like machinery and real estate fall under the "Physical resources" category within: a)b) K c) Key Resources d) Customer Relationships

• Key Partners

• Key Activities

• Key Resources

• Customer Relationships

Customer value proposition" refers to:

• The most critical element needed for a business to function effectively

• The cost structure of a business

• The revenue streams of a business

• The key partners in a business

How many segments or building blocks are there in the Business Model Canvas?

• 7

• 9

• 12

• 15

In the context of Key Activities, what does "Marketing" involve?

• Developing products and services

• Selling products and services

• Creating customer relationships

• Promoting products and creating awareness

When a product or service provides a remedy for a specific problem, it is identified as having:

• Emotional value

• Social value

• Functional value

• Cultural value

What is basically an unsegmented market in which products with mass appeal products?

• Niche

• Segmented

• Mass

• Diversified

According to Alexander Osterwalder, the main objective of using the Business Model Canvas is to:

• Increase the number of employees in a company

• Provide a visual and evaluative framework for key elements of a business model

• Maximize profit at all costs

• Eliminate competition