Business Model Canvas Quiz

Business Model

• A business model is a conceptual framework that outlines how an organization creates, captures, and delivers value to its customers.
• A business model represents how an organization makes or intends to make money.

Business Model Canvas

• The business model canvas consists of 9 building blocks:
  • Value Proposition
  • Customer Segments
  • Customer Relationships
  • Channels
  • Key Resources
  • Key Activities
  • Key Partnerships
  • Revenue Streams
  • Cost Structure

Business Model Components

• Value Proposition: Unique combination of products, services, and benefits offered to customers to make them choose a particular company's offerings over competitors.
• Customer Segments: Identifying and targeting specific groups of customers who share similar needs, preferences, or characteristics to tailor products or services effectively.
• Customer Relationships: Strategies and practices employed to cultivate and maintain relationships with customers, leading to repeat business, referrals, and loyalty.
• Channels: Avenues through which a company reaches and interacts with its customers to deliver value, such as direct sales, online platforms, retail distribution, or partnerships with intermediaries.
• Key Resources: Critical assets, capabilities, and infrastructure required to execute the business model effectively, including physical assets, intellectual property, human capital, and strategic partnerships.
• Key Activities: Core tasks and processes that a company must perform to deliver its value proposition and operate effectively, including research and development, manufacturing, marketing, sales, and customer support.
• Key Partnerships: Relationships and collaborations with other organizations or entities critical to the company's operations and value creation, including suppliers, distributors, technology partners, etc.
• Revenue Streams: Various ways in which a company generates revenue from its offerings, including sales of products, subscription fees, licensing, advertising, or other sources.
• Cost Structure: All expenses incurred by a business in the process of creating, delivering, and supporting its products or services, essential for assessing profitability and operational efficiency.