B2B Marketing Week 10: Business Model Exam Prep

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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?

Value proposition 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?

Functional Value, Social Value, Psychological Value, Monetary Value Signup and view all the answers

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

Flows of costs, revenues, and profits Signup and view all the answers

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

Co-creation of value Signup and view all the answers

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

Aerospace industry Signup and view all the answers

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

IKEA Signup and view all the answers

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

Online auctions like eBay 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?

Co-promotion 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?

Value-in-use creation model 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?

Business model Signup and view all the answers

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

Clarity, consistency, and focus Signup and view all the answers

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

Functional value 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?

Co-creation collaboration Signup and view all the answers

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

Technology industry Signup and view all the answers

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

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

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

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

What characterizes co-promotion as mentioned in the text?

It refers to the word of mouth activities by customers and other collaborators to create their own promotional messages 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?

IKEA Signup and view all the answers

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

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

B2B Marketing Week 10: Business Model Exam Prep

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Questions and Answers

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

Based on Teece (2018), what does a business model describe?

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

What does the Customer Value Model suggest companies can offer?

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

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

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

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

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

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

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

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

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?

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

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

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

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

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

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

What characterizes co-promotion as mentioned in the text?

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

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

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