Understanding Business Models
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Questions and Answers

What is the primary purpose of listing key resources in a business?

  • To operate and run the business effectively (correct)
  • To identify the key activities of the business
  • To develop a unique business model
  • To determine the value proposition of the business

    • What is an example of a key activity in Mary's fruit shake stand?

  • Advertising the business on social media
  • Partnering with a supplier to reduce costs
  • Operating the fruit stand based on the operation value proposition (correct)
  • Purchasing fruits from a competitor

    • Which business model involves integrating both online and offline presence?

  • Bricks and clicks (correct)
  • Reselling
  • Direct selling
  • Franchising

    • What is the primary benefit of the direct selling model?

    <p>It is easy and cheap to implement</p> Signup and view all the answers

    What is an example of a value-added reseller model?

    <p>Buying notebooks and reselling them with more artistic and attractive covers</p> Signup and view all the answers

    What is the primary purpose of franchising?

    <p>To use another firm's successful business model in exchange for a royalty or franchise fee</p> Signup and view all the answers

    What is the primary purpose of a Business Model?

    <p>To describe how a business creates, delivers, and captures value</p> Signup and view all the answers

    What is the Value Proposition of a business?

    <p>The reason a customer buys a product or service</p> Signup and view all the answers

    What is the primary purpose of identifying a business's Distribution Channel?

    <p>To choose the most convenient means of reaching customers</p> Signup and view all the answers

    Why is it important to identify a business's customers?

    <p>To identify their needs and create a product or service that meets those needs</p> Signup and view all the answers

    What is the role of a business's customers in its profitability?

    <p>They are the reason a business is creating a product or service</p> Signup and view all the answers

    What is the purpose of using the Business Model Canvas?

    <p>To help develop a business's Business Model</p> Signup and view all the answers

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