Business Models/LCBM/Way

What is the definition of a business model?

• How a company organizes its functional departments.

• How a company creates value for itself while delivering products or services for its customers.

• A detailed plan for product development and marketing.

• A financial projection of a company's future earnings.

What is the primary focus of a value proposition?

• Listing all the features and benefits of a product.

• Showcasing the company's advanced technology.

• Solving a problem or fulfilling a need for a customer.

• Identifying potential investors for the business.

What is the fundamental principle regarding customers in a business model?

• Customers exist primarily to buy products.

• Companies exist to serve their customers' needs.

• Customer demographics are the most important factor.

• Customers should be convinced to buy through aggressive marketing.

In the context of a business model, what do "channels" represent?

• The internal communication methods within a company.

• The ways a product gets from the company to the customer.

• The financial streams generated by sales.

• The partnerships a company forms with other businesses.

What are the three main stages a company focuses on for customer relationships?

• Acquire, Retain, Expand

• Get, Keep, Grow

• Attract, Engage, Convert

• Market, Sell, Support

What is the difference between a revenue model and pricing tactics?

• A revenue model is the daily price adjustments, while pricing tactics are long-term strategies.

• A revenue model is the strategy for capturing value, while pricing tactics are the specific fees or subscriptions.

• A revenue model focuses on costs, while pricing tactics focus on profit margins.

• A revenue model is for physical products, while pricing tactics are for digital services.

Which of the following is NOT explicitly mentioned as a category of key resources for a business model?

• Financial

• Physical

• Intellectual

• Marketing

Which of the following is considered a key activity for a business model?

• Customer segmentation

• Value proposition design

• Supply chain management

• Revenue stream analysis