B2B Marketing Week 10: Business Model Exam Prep
22 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

According to Peter F. Drucker, what makes a valid theory of the business extraordinarily powerful?

  • Complex and abstract
  • Ambiguous and unstructured
  • Dynamic and evolving
  • Clear, consistent, and focused (correct)
  • Based on Teece (2018), what does a business model describe?

  • Competitive strategies and market positioning
  • Employee engagement and organizational culture
  • Financial statements and operational metrics
  • Architecture for creating and delivering value, and mechanisms for capturing value (correct)
  • According to Lancaster (1999, cited in Kuzmanovic et al., 2021), what motivates a customer to buy a product?

  • Brand popularity and social status
  • Price and convenience
  • Any product or service attribute that takes the customer closer to achieving his goals (correct)
  • Technological features and innovation
  • What does the Customer Value Model suggest companies can offer?

    <p>Value proposition</p> Signup and view all the answers

    According to the text, what types of value are mentioned as being created by any product or service attribute?

    <p>Functional Value, Social Value, Psychological Value, Monetary Value</p> Signup and view all the answers

    What elements does Teece (2018) indicate are encompassed by a business model?

    <p>Flows of costs, revenues, and profits</p> Signup and view all the answers

    Which term refers to the combined engagement of any actor who participates towards the creation of value?

    <p>Co-creation of value</p> Signup and view all the answers

    In which industry is co-conception of ideas evident, especially in complex innovations?

    <p>Aerospace industry</p> Signup and view all the answers

    Which company has developed a successful business model based on product self-assembly, involving customers in co-production?

    <p>IKEA</p> Signup and view all the answers

    Where does co-pricing occur, allowing customers’ bidding activities to determine the final price of goods?

    <p>Online auctions like eBay</p> Signup and view all the answers

    Which type of collaboration includes word of mouth activities by customers and other collaborators to create their own promotional messages?

    <p>Co-promotion</p> Signup and view all the answers

    Which model involves joint production process with the customer’s principles co-producing resources and principles with the provider?

    <p>Value-in-use creation model</p> Signup and view all the answers

    What term is used to describe an architecture for how a firm creates and delivers value to customers, as well as the mechanisms used to capture a share of that value?

    <p>Business model</p> Signup and view all the answers

    According to Peter F. Drucker, what makes a valid theory of the business extraordinarily powerful?

    <p>Clarity, consistency, and focus</p> Signup and view all the answers

    What motivates a customer to buy a product, according to Lancaster (1999, cited in Kuzmanovic et al., 2021)?

    <p>Functional value</p> Signup and view all the answers

    Which type of collaboration involves word-of-mouth activities by customers and other collaborators to create their own promotional messages?

    <p>Co-creation collaboration</p> Signup and view all the answers

    In which industry is co-conception of ideas evident, especially in complex innovations?

    <p>Technology industry</p> Signup and view all the answers

    In the context of co-creation and value-in-use creation model, what is co-pricing?

    <p>The joint determination of final price of goods by customers' bidding activities and collaboration with the provider</p> Signup and view all the answers

    What does co-conception of ideas entail as mentioned in the text?

    <p>It involves the joint creation of innovative product designs by customers and manufacturers</p> Signup and view all the answers

    What characterizes co-promotion as mentioned in the text?

    <p>It refers to the word of mouth activities by customers and other collaborators to create their own promotional messages</p> Signup and view all the answers

    In the context of co-production, which company has developed a successful business model based on product self-assembly, involving customers in co-production?

    <p>IKEA</p> Signup and view all the answers

    According to the value co-creation perspective, what characterizes the customer's value creation interaction?

    <p>Joint value creation process with the provider participating as a co-creator of value with the customer</p> Signup and view all the answers

    More Like This

    B2B Marketing Fundamentals Quiz
    20 questions
    Introduction to B2B Marketing
    19 questions

    Introduction to B2B Marketing

    ExtraordinaryMistletoe avatar
    ExtraordinaryMistletoe
    Pepsico B2B Overview Quiz
    10 questions

    Pepsico B2B Overview Quiz

    PamperedSousaphone avatar
    PamperedSousaphone
    Use Quizgecko on...
    Browser
    Browser