Podcast
Questions and Answers
What is the purpose of identifying your distribution channel?
What is the purpose of identifying your distribution channel?
- To achieve higher sales by reaching the most convenient customers (correct)
- To reduce the value of your product or service
- To limit the number of customers your business caters to
- To avoid any distribution channel and focus only on direct selling
What are key activities in a business related to?
What are key activities in a business related to?
- Minimizing the value proposition to reduce costs
- Achieving the value proposition and other essential operations (correct)
- Ignoring the value proposition and focusing only on customer needs
- Selling the product or service to any customer
Why is it important to identify and distinguish customer needs?
Why is it important to identify and distinguish customer needs?
- To ignore the needs of your customers and focus on product development only
- To make your business profitable by meeting the needs of your customers (correct)
- To increase the cost of your product or service
- To limit the products or services offered to customers
What does identifying your customer help with?
What does identifying your customer help with?
What is the purpose of prototyping in the inventing process?
What is the purpose of prototyping in the inventing process?
What is the main role of a supplier in the business's supply chain?
What is the main role of a supplier in the business's supply chain?
What does the term 'inbound logistics' include?
What does the term 'inbound logistics' include?
What are 'marketing and sales' activities related to?
What are 'marketing and sales' activities related to?
What does the term 'service activities' include?
What does the term 'service activities' include?
What is the purpose of a business model?
What is the purpose of a business model?
What does the term 'value proposition' refer to?
What does the term 'value proposition' refer to?
What is included in 'distribution channel'?
What is included in 'distribution channel'?
What is the significance of 'value chain'?
What is the significance of 'value chain'?
What does 'operations' refer to?
What does 'operations' refer to?
What is meant by 'business model innovation'?
What is meant by 'business model innovation'?