Podcast
Questions and Answers
What type of relationship do the Customer Segments expect a company to establish and maintain with them?
What type of relationship do the Customer Segments expect a company to establish and maintain with them?
- Transactional relationship only
- High-cost relationship only
- Personalized relationship tailored to their needs (correct)
- Recurring revenue relationship only
In the context of LEGO's online community, what incentivizes fans to participate by submitting ideas and voting?
In the context of LEGO's online community, what incentivizes fans to participate by submitting ideas and voting?
- Free LEGO sets
- Monetary rewards
- Recognition and a chance to influence new sets (correct)
- Exclusive access to events
What are customers really willing to pay for in the context of revenue streams?
What are customers really willing to pay for in the context of revenue streams?
- Products that are easily available in the market
- Products with low quality but low price
- Products that align with their preferences and needs (correct)
- High-cost products only
What Key Resources are primarily required for successful Value Propositions?
What Key Resources are primarily required for successful Value Propositions?
What is one of the most important costs inherent in a business, according to the text?
What is one of the most important costs inherent in a business, according to the text?
Which Key Activities are typically most expensive for companies?
Which Key Activities are typically most expensive for companies?
What is the stage in a business cycle where there is a sharp fall in sales volume and profit curve becomes almost flat?
What is the stage in a business cycle where there is a sharp fall in sales volume and profit curve becomes almost flat?
Which of the following businesses is an example of a service-based business?
Which of the following businesses is an example of a service-based business?
What is one common example of a product-based business?
What is one common example of a product-based business?
In which stage of the business cycle does a product distribution expand to meet growing demand?
In which stage of the business cycle does a product distribution expand to meet growing demand?
What activity is suggested if consumer awareness and acceptance of a product are low according to Fajardo?
What activity is suggested if consumer awareness and acceptance of a product are low according to Fajardo?
Which stage in the business cycle sees a rise in sales but with a declining rate of increase?
Which stage in the business cycle sees a rise in sales but with a declining rate of increase?
What is the main purpose of a business model canvas?
What is the main purpose of a business model canvas?
Which element of the business model canvas focuses on describing a firm's customers?
Which element of the business model canvas focuses on describing a firm's customers?
How does a business model canvas help firms align their activity?
How does a business model canvas help firms align their activity?
In the context of a business model canvas, what does identifying 'customer needs' refer to?
In the context of a business model canvas, what does identifying 'customer needs' refer to?
What aspect of a business does the 'unique value proposition' in a business model canvas highlight?
What aspect of a business does the 'unique value proposition' in a business model canvas highlight?
In the provided text, what is highlighted as crucial for a business model to succeed?
In the provided text, what is highlighted as crucial for a business model to succeed?
