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Types of Business Models: Importance and Structure

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Types of Business Models: Importance and Structure

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Questions and Answers

What is a business model?

The blueprint for a business's success (correct)

The customer base of a business

A physical structure of a business

The raw materials used in manufacturing

According to Peter Drucker, what is a business model supposed to answer?

Where the company should locate its headquarters

What value can be created for the customer at reasonable costs (correct)

How many employees a company should have

What color the company logo should be

What are the three parts of a business model?

Product development, customer acquisition, and revenue generation

Designing, marketing, and customer service

Sourcing raw materials, manufacturing, and distribution (correct)

Finance, human resources, and operations

Why is the business model important?

It acts as the blueprint and roadmap for its success (B) Signup and view all the answers

What does a manufacturer do?

Designs and manufactures products from raw materials (D) Signup and view all the answers

What type of business model focuses on selling products through a web-store on the internet?

E-Commerce (B) Signup and view all the answers

Which type of business model removes human interaction from each step of the sales funnel and simplifies offerings?

Low Touch (C) Signup and view all the answers

Who resells products to the retailers or the public after buying them from manufacturers?

Distributor (C) Signup and view all the answers

Which business model uses the parent business’s model and brand while paying royalties to it?

Franchise (B) Signup and view all the answers

What is the traditional business model where retailers, wholesalers, and manufacturers deal with customers face-to-face in an office or a store?

Brick-and-Mortar (D) Signup and view all the answers