Question 1

Within a business model,customers refer to ______.

Accepted Answer

A)  people who express loyalty to your brand
B)  people who have purchased your product or service
C)  the people who populate the segments of the market your offering intends to serve
D)  the people in the geographic reach of the business C

Question 2

What problem did FedEx solve for customers in its CVP?

Accepted Answer

A)  the lack of easy,door-to-door,overnight delivery of packages
B)  the lack of ways to obtain customer signatures for received goods
C)  the lack of variety in shipping options
D)  the lack of prepackaged envelopes

Question 3

The "value" portion of the customer value proposition is how much you could expect to sell one share of your company in an initial public offering (IPO).

Accepted Answer

A) True 
 B)False

Question 4

Jerry has stated that his business appeals to people 50 years of age and older who are restructuring their finances for retirement plans.What has Jerry defined?

Accepted Answer

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

Question 5

Multisided markets describe a variety of services that serve two or more segments with very different needs and problems,which bear no relationship to each other.

Accepted Answer

A) True 
 B)False

Question 6

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 7

Given that startups can be flexible in their business model,what general guide should they follow?

Accepted Answer

A)  Existing models should not be changed.
B)  Existing models should be replaced frequently.
C)  Existing models should be prepared to adjust as markets change.
D)  Existing models require annual updating.

Question 8

Identify all the components of the business model canvas.

Accepted Answer

The four core elements of a business mod...

Question 9

Business models generally discourage experimentation.

Accepted Answer

A) True 
 B)False

Question 10

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 11

The business plan describes the rationale of how a new venture creates,delivers,and captures value.

Accepted Answer

A) True 
 B)False

Question 12

The business model is just about revenues and costs.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A)  revenue streams and market size
B)  cost structure and revenue streams
C)  investment funds and revenue streams
D)  revenue streams and growth projections

Question 14

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 15

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 16

Which term describes two or more customer segments that are linked but independent of each other?

Accepted Answer

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

Question 17

In the business model canvas,the offering is comprised of customer relationships and channels.

Accepted Answer

A) True 
 B)False  False

Question 18

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

Accepted Answer

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

Question 19

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

Accepted Answer

A)  a hardware store that sells to contractors and nonprofessionals
B)  a dollar store that promotes its low prices
C)  a pet store that offers both supplies and small animals
D)  a retail shop that sells goods aimed at expectant mothers and babies

Question 20

If an automobile manufacturer advertised an "automobile for all ages," what market is it addressing?

Accepted Answer

A)  a target market
B)  a niche market
C)  a mass market
D)  a diversified market

Exam 5: Building Business Models

Within a business model,customers refer to ______.

Correct AnswerverifiedC

What problem did FedEx solve for customers in its CVP?

Correct AnswerverifiedShow Answer

The "value" portion of the customer value proposition is how much you could expect to sell one share of your company in an initial public offering (IPO).

Correct AnswerverifiedShow Answer

Jerry has stated that his business appeals to people 50 years of age and older who are restructuring their finances for retirement plans.What has Jerry defined?

Correct AnswerverifiedA

Multisided markets describe a variety of services that serve two or more segments with very 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

Given that startups can be flexible in their business model,what general guide should they follow?

Correct AnswerverifiedShow Answer

Identify all the components of the business model canvas.

Correct AnswerverifiedThe four core elements of a business mod...View AnswerShow Answer

Business models generally discourage experimentation.

Correct AnswerverifiedShow Answer

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

The business plan describes the rationale of how a new venture creates,delivers,and captures value.

Correct AnswerverifiedShow Answer

The business model is just about revenues and costs.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following allowed Tata Motors to be successful?

Correct AnswerverifiedShow Answer

Which term describes two or more customer segments that are linked but independent of each other?

Correct AnswerverifiedShow Answer

In the business model canvas,the offering is comprised of customer relationships and channels.

Correct AnswerverifiedFalse

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

If an automobile manufacturer advertised an "automobile for all ages," what market is it addressing?

Correct AnswerverifiedShow Answer

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The four core elements of a business mod...
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