Question 1

BUSINESS MODELS

Accepted Answer

refers to strategies and frameworks that organizations use to generate revenue and profit

Question 2

BUSINESS MODELS

Accepted Answer

It is a conceptual framework that outlines how a company creates, delivers and captures value

Question 3

ALEXANDER OSTERWALDER

Accepted Answer

He proposed the business model canvas in his book entitled Business Model Ontology

Question 4

YVES PIGNEUR

Accepted Answer

Together with Alex Osterwalder, he co-developed the Business Model Canvas

Question 5

BUSINESS MODEL CANVAS

Accepted Answer

It is a one-page document which contains nine boxes which represents the different fundamental elements of a business

Question 6

CUSTOMER SEGMENTS

Accepted Answer

This key building block refers to the group of people that you are trying to target to sell your product or service

Question 7

MASS MARKET

Accepted Answer

It focuses on the general population or a larger group of people with similar needs

Question 8

NICHE MARKET

Accepted Answer

It focuses on a specific group of people with unique needs and wants

Question 9

SEGMENTED MARKET

Accepted Answer

The different groups within a main customer segment.

Question 10

DIVERSIFIED MARKET

Accepted Answer

These are customers with very different needs

Question 11

MULTI-SIDED MARKET

Accepted Answer

Interdependent customer segments. (e.g. credit card)

Question 12

PERSONAL ASSISTANCE

Accepted Answer

A type of customer relationship in which you interact with customers in person or by email.

Question 13

DEDICATED PERSONAL ASSISTANCE

Accepted Answer

A type of customer relationship in which a dedicated customer assistant is assigned to an individual customer

Question 14

SELF SERVICE

Accepted Answer

A type of customer relationship in which you provide what the customer needs to help themselves

Question 15

AUTOMATED SERVICE

Accepted Answer

Includes automated processes or machinery

Question 16

COMMUNITIES

Accepted Answer

A type of customer relationship in which customers can help each other solve their own problems with regards to the product or service

Question 17

CO-CREATION

Accepted Answer

The company allows the customer to get involved in the designing or development of the product

Question 18

CUSTOMER RETENTION, LOYALTY AND SATISFACTION

Accepted Answer

These are the benefits of a good customer relations

Question 19

CHANNELS

Accepted Answer

It describes how your company will communicate and reach out to your customers

Question 20

OWNED CHANNELS

Accepted Answer

These includes company website, social media sites, and in-house sales

Question 21

PARTNER CHANNELS

Accepted Answer

These includes partner-owned websites, wholesale and retail distribution

Question 22

AWARENESS

Accepted Answer

This enables the customers to have knowledge and ideas about the use of your products and the benefits as well

Question 23

EVALUATION

Accepted Answer

This is done before the process of manufacturing the products or finalizing the concepts of the services to be offered to the customers

Question 24

REVENUE STREAMS

Accepted Answer

It is the building block which represents the cash a company generates from each customer segment

Question 25

TRANSACTION BASED

Accepted Answer

Revenue that comes from customers who make a one-time payment

Question 26

RECURRING

Accepted Answer

Revenue which is made from ongoing payments for continuing services or post-sales services

Question 27

ASSET SALES

Accepted Answer

A way to generate revenue by selling the rights of ownership for a product

Question 28

USAGE FEE

Accepted Answer

A way to generate revenue by charging the customers for using its products regularly and consistently

Question 29

LENDING/LEASING/RENTING

Accepted Answer

A way to generate revenue in which customers pay to get exclusive rights to use an asset for a fixed period of time

Question 30

LICENSING

Accepted Answer

A way to generate revenue in which customers pay to use the company's intellectual property

Question 31

BROKERAGE

Accepted Answer

A way to generate revenue by acting as an intermediary between two or more parties

Question 32

ADVERTISING

Accepted Answer

A way to generate revenue by charging the customer to advertise a product, service or brands using the company's platform

Question 33

SALES OF PHYSICAL PRODUCT

Accepted Answer

A way to generate revenue in which customers pay in cash for the product or service

Question 34

VOLUME AND UNIT SELLING

Accepted Answer

A way to generate revenue in which the company charges affixed price for a product or service and buying products in higher quantities allows customers to get discounts

Question 35

KEY ACTIVITIES

Accepted Answer

This includes research and development, production, product development, and sales and customer services

Question 36

KEY RESOURCES

Accepted Answer

these are the people, knowledge, means and money you need to run your business. Can be physical, intellectual, human or financial

Question 37

KEY PARTNERS

Accepted Answer

These are external companies or suppliers that will help you carry out your key activities

Question 38

STRATEGIC ALLIANCES BETWEEN NON-COMPETITORS

Accepted Answer

An alliance between your company and another company where there is no direct competition and can work together and both will benefit

Question 39

COOPETITION

Accepted Answer

A business relationship where your competitor can be a business partner as long as there is a cooperation of ideas and knowledge on how to enhance products and services

Question 40

JOINT VENTURES

Accepted Answer

A company may join another company to form a different entity expected to be more profitable than operating separately

Question 41

COST STRUCTURE

Accepted Answer

It defines the cost and expenses that your company will incur during the operation of your business model. Decides whether you are to pivot or proceed

Question 42

VALUE DRIVEN

Accepted Answer

Focused on creating more value in the product itself not necessarily producing the product at the lowest possible cost

Question 43

COST DRIVEN

Accepted Answer

Focuses on minimizing the costs of the product as much as possible

Question 44

VALUE PROPOSITION

Accepted Answer

Refers to the promises of the company to offer customers should they choose to buy their product or services

Question 45

VALUE PROPOSITION

Accepted Answer

New HAD BP CRC

ES004-A MIDTERMS