Questions and Answers
What is the primary objective of the Business Model Canvas?
To understand and design a business model
Which of the following is an example of a value proposition?
All of the above
What is the primary difference between a 'direct' and 'indirect' channel?
The method of distribution or delivery
Which of the following revenue streams is associated with lending or renting assets?
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What is the primary purpose of the customer segment building block?
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Which of the following is an example of a multi-sided platform?
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Study Notes
Business Model Canvas
- The Business Model Canvas is a strategic management template that outlines key elements of a business model
- It is divided into 9 building blocks, which will be explored in 2 parts
Customer Segment
- Definition: Identifying the target audience or customer groups for a business
- Types of customer segments:
- Mass Market
- Niche Market
- Segmented
- Diversified
- Multi-Sided Platform
Value Proposition
- Definition: The unique value that a business offers to its customers
- Types of value propositions:
- Newness
- Performance
- Customization
- Getting the Job Done
- Design
- Brand/Status
- Price
- Cost Reduction
- Risk Reduction
- Accessibility
- Convenience/Usability
Channels
- Definition: The communication, sales, and distribution channels used to reach customers
- Types of channels:
- Partner vs Own
- Direct vs Indirect
Customer Relationships
- Definition: The types of relationships a business has with its customers
- Types of customer relationships:
- Personal Assistance
- Dedicated Personal Assistance
- Self-Service
- Automated Services
- Communities
- Co-Creation
Revenue Stream
- Definition: The revenue generated by a business through its various channels
- Types of revenue streams:
- Asset Sale
- Usage Fee
- Subscription Fee
- Lending/Renting
- Licensing
- Brokerage Fees
- Advertising
Partnerships
- Definition: The collaborations and partnerships a business has with other companies
- Types of partnerships:
- Strategic alliances between non-competitors
- Coopetition: strategic partnerships between competitors
- Joint ventures to develop new businesses
- Buyer-supplier relationships to assure reliable supplies
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