18 Questions
What type of relationship do the Customer Segments expect a company to establish and maintain with them?
Personalized relationship tailored to their needs
In the context of LEGO's online community, what incentivizes fans to participate by submitting ideas and voting?
Recognition and a chance to influence new sets
What are customers really willing to pay for in the context of revenue streams?
Products that align with their preferences and needs
What Key Resources are primarily required for successful Value Propositions?
Resources specific to fulfilling the Value Propositions
What is one of the most important costs inherent in a business, according to the text?
Fixed Costs
Which Key Activities are typically most expensive for companies?
Research and development activities
What is the stage in a business cycle where there is a sharp fall in sales volume and profit curve becomes almost flat?
Decline
Which of the following businesses is an example of a service-based business?
Consultancy firm
What is one common example of a product-based business?
Wholesale distribution company
In which stage of the business cycle does a product distribution expand to meet growing demand?
Growth
What activity is suggested if consumer awareness and acceptance of a product are low according to Fajardo?
Launch through marketing activities
Which stage in the business cycle sees a rise in sales but with a declining rate of increase?
Maturity
What is the main purpose of a business model canvas?
To describe how an organization creates and delivers value
Which element of the business model canvas focuses on describing a firm's customers?
Customer segment
How does a business model canvas help firms align their activity?
By illustrating potential trade-offs
In the context of a business model canvas, what does identifying 'customer needs' refer to?
Identifying the problems the company is solving for its customers
What aspect of a business does the 'unique value proposition' in a business model canvas highlight?
How the company stands out from competitors
In the provided text, what is highlighted as crucial for a business model to succeed?
'Business models won’t work without the right product.'
Test your knowledge on types of relationships expected by customer segments, established relationships, costs, and integration within the business model. Explore examples from Beauty Talk and LEGO's online community for new set ideas.
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