Assignment:
1. Business Model
What is a general definition of a business model?
- A plan designed to facilitate employee payroll and benefits
- A plan created and executed by a company to generate revenues and profits
- A blueprint for the accounting department to track expenses and taxes
- A report given by upper management to the board of directors of a company
2. Value Proposition
What is meant by a ‘value proposition' provided by a company?
- The value of a company based on the price of its stock
- The amount of money needed to start up (capitalize) the business
- The brand identity of the products /services that meet a need of its customer segments
- The cost of doing business, including all the expenses
3. Customer Segments
What is meant by a target customer or customer segment?
- Those who prefer to shop in stores rather than online
- Any person of any age who can afford to buy the company's products
- People who keep up with advertising and are smart about brands
- Specific demographics of people to whom the company wants to sell its products or service
4. Elements
How many building blocks or elements of a business model are there, according to the ‘business model canvas'?
5. Capturing Value
What is meant by a company ‘delivering and capturing value' for customers?
- A product or service that solves a problem for specific customers
- A product or service that meets a need of specific customers
- Both of the above
- None of the above
6. Customer Definitions
In marketing or branding, a broad group of customers with similar needs, problems and interests is a:
- Mass, undifferentiated market
- Niche, differentiated market
- Duplicative market
- Non-commercial market
7. Defining Customers
A small group of customers with specific requirements and focused interests and preferences is:
- Mass, undifferentiated market
- Niche, differentiated market
- Unvalued audience
- Cross-over market
8. Defining the Elements (A)
The means by which a company delivers its products/services to specific customers is:
- The value proposition
- Channels of distribution
- Key partnerships
- Customer relationships
9. Defining Elements (B)
The means by which a company acquires customers, retains customers and generates repeat sales is:
- The Value Proposition
- Channels of Distribution
- Key Partnerships
- Customer Relationships
10. Defining Elements (C)
The most important things that a company must do in order to create, produce, market and deliver products, to make its business work, are:
- Key Partnerships
- Key Activities
- Key Resources
- Value Proposition
11. Defining Elements (D)
The materials or assets that a company must have - human, financial, physical or intellectual - to make its business model work are:
- Key Activities
- Key Partnerships
- Key Resources
- Customer Relationships
12. Costs
The costs of doing business that remain the same, regardless of how much product is made, such as salaries, rent, or manufacturing facilities are called:
- Variable costs
- Fixed costs
- Above the line costs
- Below the line costs
13. Costs Types
The business costs that can change due to the amount of product or services produced/ sold, such as raw materials, shipping or attendance are called:
- Above the line costs
- Below the line costs
- Fixed Costs
- Variable Costs
14. Revenues
The amount of revenue remaining after all costs have been deducted and bills paid is:
- Gross revenues generated
- Cost of doing business
- Net revenue or profit
- Capitalization
15. Business Analysis
The analysis that allows a company to do an environmental scan of the outside forces and trends that affect a business and indicate the business model may need adjustment is:
16. Analysis Types
The type of business analysis that examines a company or product line's weaknesses, strengths, threats and opportunities is known as a:
17. Trend Forces (A)
If the national Congress or state passes new laws that affect corporate taxes, business regulation, safety or health restrictions, or if the U.S. becomes involved in a war abroad, what type of force or trend is it?
- Economic
- Political
- Technological
- Social
18. Trends Forces (B)
If there is a major bank failure, a recession, a shortage of gasoline, growing unemployment or a rally of the U.S. stock market, what type of force or trend is it?
- Economic
- Political
- Socal
- Technological
19. Trends Forces (C)
If the operating system of a product is updated, the way it is delivered to customers goes online or a competitor develops a more streamlined product, what type of force or trend is it?
- Economic
- Social
- Technological
- Political
20. Trends Forces (D)
When there is a generational shift in the age of target customers, changes cultural values or a shift in ethnic population, what type of force or trend is it?
- Economic
- Technological
- Social
- Political
21. Business Patterns (A)
There are different ‘patterns' in business models. When a company brings two or more groups of customers together, facilitates interactions between them, and takes a fee or commission, it is a:
- Open business model
- Unbundled corporation
- Multi-sided pattern
- Free model
22. Business Patterns (B)
When a company sells or moves a large volume of products overall, but in small amounts of any one product (some big ‘hits' and some not hits), to a range of niche customers it is a:
- Long tail pattern
- Closed model
- Unbundled pattern
- Bait and switch pattern
23. Conglomerates
When a conglomerate integrates the same product or brand over many platforms in several of its divisions or business units, it is known as:
- Capitalization
- Syndication
- Dollar-cost average
- Vertical integration
24. Celebrities
The business success of brands built around personalities, stars or on professional sports teams, is due in large part to:
- Emotional connection to fans/customers
- Strong financial foundation
- Good management
- Superior talent
25. Emotion-based Needs
Marketing and advertising often exploit emotion-based needs of potential customers. Emotion-based needs include:
- Age, gender, ethnicity
- Education, income, IQ
- Hobbies, interests, skills
- Greed, fear, love, pride, guilt