Final Business modeling

One of the techniques used in designing a business model is .......

'Customer Insights'

In Business Model Design Process, Business model innovation results from one of four objectives....,....,....,...

(1) to satisfy existing but unanswered market needs. (2) to bring new technologies, products, or services to market. (3) to improve, disrupt, or transform an existing market with a better business model. (4) to create an entirely new market.

Values may be qualitative, for example?

(e.g. design, customer experience).

Values may be quantitative, for example?

(e.g. price, speed of service)

One of the techniques used in designing business model is 'Customer Insights'. It requires a deep understanding of customers, including ....,....,...,....

- Environment. - Their daily routines. - Concerns. - Aspirations.

There are several categories of Customer Relationships, which may co-exist in a company's relationship with a particular Customer Segment such as......

- Personal assistance, - Dedicated personal assistance, - Self-service, - Automated services, - Communities, - Co-creation.

There are five business model patterns built on important concepts in the business literature such as...,.....

- Unbundling - Long Tail

Customer groups represent separate segments if...,...,...,...,...

1 • Their needs require and justify a distinct offer 2 • They are reached through different Distribution Channels 3 • They require different types of relationships 4 • They have substantially different profitabilities 5 • They are willing to pay for different aspects of the offer

...,...,...,...,... are components of the business model

1- Canvas 2- Pattern 3- Design 4- Strategy 5- Process 6- Outlook 7- Afterword

The concept of the "unbundled" corporation holds that there are three fundamentally different types of businesses......,.....,....

1- Customer relationship business. 2- Product innovation business. 3- Infrastructure business.

Cost Structures can have the following characteristics:

1- Fixed cost. 2- Variable cost. 3- Economies of scale. 4- Economies of scope.

In Business model strategy, there are four main areas of your environment...,....,....,.....

1- Market force. 2- Industry Force. 3- Key trends. 4- Macroeconomic force.

In business model, the Process includes five phases....,....,....,...,...

1- Mobilize. 2- Understand. 3- Design. 4- Implement. 5- Manage.

Elements that contribute to customer value creation include...,...,...,...,...,...,...,...,...,...,.....

1- Newness, 2- Performance, 3- Customization, 4- Getting the job done, 5- Design, 6- Brand/status, 7- Price, 8- Cost reduction, 9-Risk reduction, 10- Accessibility, 11- Convenience/usability

There are three motivations for creating partnerships...,....,......

1- Optimization and economy of scale. 2- Reduction of risk and uncertainty. 3- Acquisition of particular resources and activities.

Companies create alliances to...,...,..

1- Optimize their business models. 2- Reduce risks. 3- Acquiring resources.

Key Activities can be categorized as follows...,...,...,...,..

1- Production 2- Problem-solving 3- Platforms/ network

There are four different types of partnerships......,...,...,.....

1- Strategic alliances. 2- Coopetition. 3- Joint ventures. 4- Buyer- Supplier relationships.

The nine blocks cover the four main areas of a business:....,....,....,....

1- customers 2- offers 3- infrastructure 4- financial viability

macroeconomic force as one area of Business model strategy include....,....,....,...

1- global market conditions, 2- capital markets, 3- commodities and other resources, 4- economic infrastructure

market forces as one area of Business model strategy include....,....,....,...

1- market segments, 2- needs and demands, 3- market issues, 4- switching costs, 5- revenue attractiveness

Key resources can be.....,.....,....,.....

1- physical 2- human 3- financial 4- intellectual

industry forces as one area of Business model strategy include....,....,....,...

1- suppliers and other value chain actors, 2- stakeholders, 3- competitors, 4- new entrants, 5- substitute products and services

key trends as one area of Business model strategy include....,....,....,...

1- technology trends, 2- regulatory trends, 3- societal and cultural trends, 4- socioeconomic trends

There are several ways to generate Revenue Streams...,....,....,...

1. Asset sale, 2. Usage fee, 3. Subscription fees, 4. Lending/Renting/Leasing, 5. Licensing, 6. Brokerage fees, 7. Advertising

........describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts

A business model

It can be useful to distinguish between two broad classes of business model Cost Structures....,......

Cost-driven, Value-driven.

In the value propositions building block, the ....value means tailoring products and services to the specific needs of individual customers

Customization

.......relationship represents the deepest and most intimate type of relationship and normally develops over a long period of time.

Dedicated personal assistance

In Business Model Design Process, the phase........means 'generate and test viable business model options, and select the best'

Design

In the 'Customer Insights' design technique, the .........is a tool developed to better understand the Customer Segment

Empathy map

In 'Customer Insights' design technique, business model innovators should avoid focusing exclusively on ........Customer Segments and set their sights on ......or ........segments.

Existing, New or unreached.

- Design as a value proposition is an important and measurable element ( T or F )

False important but difficult element to measure

In 'Customer Insights' design technique, business model innovators should only focuses exclusively on existing Customer Segments. (T or F)

False, In 'Customer Insights' design technique, business model innovators should avoid focusing exclusively on existing Customer Segments and set their sights on new or unreached segments.

In Business Model Design Process, Business model innovation results from one of two objectives. (T or F)

False, In Business Model Design Process, Business model innovation results from one of four objectives.

In Business Model Design Process, Business model innovation results from one objective only, which is to improve, disrupt, or transform an existing market with a better business model. ( T or F)

False, In Business Model Design Process, Business model innovation results from one of four objectives...etc.

In Business Model Design Process, the phase design means 'Prepare for a successful business model design project'. (T or F)

False, In Business Model Design Process, the phase mobilize means 'Prepare for a successful business model design project'

In business model, the Process includes three phases. (T or F)

False, In business model, the Process includes five phases.

The Short Tail Pattern focus on a large number of products, each selling in low volumes. (T or F)

False, The Long Tail Pattern focus on a large number of products, each selling in low volumes.

The concept of the "unbundled" corporation holds that there are Four fundamentally different types of businesses. (T or F)

False, The concept of the "unbundled" corporation holds that there are three fundamentally different types of businesses.

There are two business model patterns built on important concepts in the business literature. (T or F)

False, There are five business model patterns built on important concepts in the business literature.

industry forces as one area of Business model strategy include only stakeholders. (T or F)

False, it includes: 1- suppliers and other value chain actors, 2- stakeholders, 3- competitors, 4- new entrants, 5- substitute products and services

key trends as one area of Business model strategy include revenue attractiveness. (T or F)

False, revenue attractiveness is part of the market force.

In Business Model Design Process, the phase........means ' implement the business model prototype in the field'

Implement

The ........ Building Block describes the network of suppliers and partners that make the business model work

Key Partnerships

The ....Building Block describes the most important things a company must do to make its business model work

Key activities

Costs can be calculated relatively easily after defining Key Resources, ...,....

Key activities, Key partnerships.

The .....Pattern focus on a large number of products, each selling in low volumes

Long Tail

The .....Pattern focus on offering a large number of niche products, each of which sells relatively infrequently.

Long Tail

In Business Model Design Process, the phase........means 'Adapt and modify the business model in response to market reaction'

Manage

In Business Model Design Process, the phase........means 'Prepare for a successful business model design project'

Mobilize

The ......section describes business models with similar characteristics, similar arrangements of business model Building Blocks, or similar behaviors

Pattern

Key Resources can be categorized as follow ......, ...., ..., ...

Physical, Intellectual, Human, Financial

......Building Block describes the bundle of products and services that create value for a specific Customer Segment

The Value Propositions

.......solves a customer problem or satisfies a customer need.

The value proposition

'Customer Insights' requires a deep understanding of customers. (T or F)

True.

A business model may define one or several large or small Customer Segments ( T or F )

True.

Customers may find value in the simple act of using and displaying a specific brand ( T or F )

True.

In Business Model Design Process, the phase design means 'generate and test viable business model options, and select the best'. (T or F)

True.

In Business Model Design Process, the phase mange means 'Adapt and modify the business model in response to market reaction' (T or F)

True.

More companies are going beyond the traditional customer-vendor relationship to co-create value with customers ( T or F )

True.

Offering similar value at a lower price is a common way to satisfy the needs of price-sensitive Customer Segments ( T or F )

True.

macroeconomic force as one area of Business model strategy include capital markets. (T or F)

True.

In Business Model Design Process, the phase........means 'Research and analyze elements needed for the business model design effort'

Understand

........... is the reason why customers turn to one company over another

Value propositions

In the Personal assistance relationship, the customer can communicate with ..........to get help during ........or....... This may happen........., through call centers, by e-mail, or through other means

a real customer representative, the sales process, after the purchase is complete, onsite at the point of sale

The business model is like a ........ for a strategy to be implemented through organizational structures, processes, and systems

blueprint

The process of .................is also called business model innovation and forms a part of business strategy

business model construction and modification

The process of business model construction and modification is also called ..............and forms a part of business strategy

business model innovation

Making products and services available to customers who previously lacked access to them is another way to create value. This can result from: ....,....,.....

business model innovation, new technologies, or a combination of both.

The Business Model......, is a tool for describing, analyzing, and designing business models

canvas

The ...... Building Block describes how a company communicates with and reaches its Customer Segments to deliver a Value Proposition

channels

According to the ....... relationship, companies can engage customers to assist with the design of new and innovative products. Others, encourage customers to create content for public consumption

co-creation

....., ......., and ......... comprise a company's interface with customers

communication, distribution and sales channels

Owned Channels and particularly direct ones have higher margins, but can be ..........

costly to put in place and to operate

The ........Building Block defines the different groups of people or organizations an enterprise aims to reach and serve

customer segments

.........comprise the heart of any business model.

customers

Dedicated personal assistance relationship involves .......

dedicating a customer representative specifically to an individual client

The Business Model Canvas is a shared language for...., .....,..... and ....... business models

describing, visualizing, assessing and changing

In business models, there are techniques that help .....business models

design

According to the Co-creation relationship, companies can engage customers to assist with..... Others encourage customers to .....

design of a new and innovative products. create content for public consumption.

Owned Channels can be...., or...... However, Partner Channels are ......

direct, indirect, indirect.

An organization with a ...... business model serves two unrelated Customer Segments with very different needs and problems

diversified customers

Business models focused on mass markets don't ?

don't distinguish between different Customer Segments

A Value Proposition creates value for a Customer Segment through a distinct mix of.......

elements catering to that segment's needs

Many companies maintain online communities that allow users to ...... and ......... Communities can also help companies.......

exchange knowledge, solve each other's problems, better understand their customers

Partner Channels lead to lower margins, but they allow an organization to .......,......

expand its reach and benefit from partner strengths

There are two main types of pricing mechanism...,....

fixed and dynamic pricing.

Each Revenue Stream may have different pricing mechanisms, such as ...,....,....,...,....

fixed list prices, bargaining, auctioning, or yield management

In the value propositions building block, the ....value means helping a customer get certain jobs done.

getting the job done.

In the Customer Relationships building block, Personal assistance relationship is based on........

human interaction

An organization can choose between reaching its customers through...., through......., or through .....

its own Channels, partner Channels, a mix of both

The .....Building Block describes the most important assets required to make a business model work

key resources

Business models focused on ........... don't distinguish between different Customer Segments

mass markets

In........., organizations serve two or more interdependent Customer Segments

multi-sided platforms ( multi-sided market)

In order to better satisfy customers, a company may group them into distinct segments with common....., common........, or other......

needs, behaviors, attributes.

Some Value Propositions may be innovative and represent a .....or ...offer. Others may be similar to existing market offers, but with ......

new, distinctive, added features and attributes.

In the value propositions building block, the ....value satisfies an entirely new set of needs that customers previously didn't perceive because there was no similar offering.

newness

Business models targeting ....... cater to specific, specialized Customer Segments

niche markets

A business model can best be described through ...... that show the logic of how a company intends to make money.

nine basic building block

In Self-service relationship, a company maintains ........with customers. It provides .......

no direct relationship, all the necessary means for customers to help themselves.

The business model is like a blueprint for a strategy to be implemented through........, ........, and ........

organization structure, processes and systems

- Key resources can be ....... or acquired from key partners

owned or leased by the company

Business Model......are based on concepts from leading business thinkers

pattern

Relationships can range from ...to.........

personal, automated

In a business model, generic ........helps design innovative business models, tying together all the concepts, techniques, and tools in Business Model Generation

process

Each Value Proposition consists of a selected bundle of ......and/or ......that caters to the requirements of a specific .....

products, services, customer segment

Values may be....... (e.g. price, speed of service) or ....(e.g. design, customer experience).

quantitative, qualitative.

A business model can involve two different types of Revenue Streams....,....

recurring revenues transaction revenues

The Value Proposition solves a customer problem or .........

satisfies a customer need

In ......, some business models distinguish between market segments with slightly different needs and problems

segmented markets

The Automated services relationship mixes a more sophisticated form of .......with.......

self-service, automated processes

In segmented markets, some business models distinguish between market segments with ?

slightly different needs and problems

A business model can be carefully designed around a strong understanding of ..........

specific customer needs

Business models targeting niche markets cater to?

specific, specialized Customer Segments

In a business model, the re-interpreting of ...........is done through the business model lens

strategy

In Business model strategy, a good understanding of an organization's environment helps you visualize and build..., more ...business models

strong, competitive.

Business model strategy helps in examining ......in which your own business model functions

the environment

The Customer Relationships Building Block describes .......

the types of relationships a company establishes with specific Customer Segments

In multi-sided platforms, organizations serve?

two or more interdependent Customer Segments

An organization with a diversified customer business model serves?

two unrelated Customer Segments with very different needs and problems

Increasingly, companies are utilizing .......to become more involved with customers and to facilitate connections between community members

user communities relationship

The ........is a collection of benefits that a company offers customers.

value proposition

Partner Channels are indirect and involve a whole range of options, such as...,....,....

wholesale distribution, retail, or partner-owned Web sites

Customer relationships may be driven by various motivations such as...,...,...

• Customer acquisition • Customer retention • Boosting sales (upselling)

Channels as a building block serve several functions, including...,...,...,...,....

• Raising awareness among customers about a company's products and services • Helping customers evaluate a company's Value Proposition • Allowing customers to purchase specific products and services • Delivering a Value Proposition to customers • Providing post-purchase customer support