Question 1

What is a business model?

Accepted Answer

A plan that outlines how a business will generate revenue and make a profit.

Answer

A type of marketing strategy used by businesses.

Answer

A type of building where businesses operate.

Answer

A financial statement showing a company's assets and liabilities.

Question 2

What is a key component of a business model canvas?

Accepted Answer

Customer segments - identifying the different groups of customers a business serves.

Answer

Marketing budget - setting aside funds for advertising and promotions.

Answer

Employee salaries - determining the wages paid to workers.

Answer

Office location - choosing the physical location of the business premises.

Question 3

What is the purpose of a revenue model in a business?

Accepted Answer

To outline how a company will generate income through its products or services.

Answer

To determine the company's overall marketing strategy.

Answer

To track employee performance and attendance.

Answer

To establish the company's core values and mission statement.

Question 4

What is a subscription-based business model?

Accepted Answer

A model where customers pay a recurring fee for continued access to a product or service.

Answer

A model where customers pay a one-time fee for lifetime access to a product.

Answer

A model where customers earn money by referring new users to a product or service.

Answer

A model where customers can use a product for free with no payment required.

Question 5

What is the value proposition in a business model?

Accepted Answer

The unique benefit that a company's product or service provides to customers.

Answer

The percentage of market share captured by a company.

Answer

The total revenue generated by a company in a financial year.

Answer

The number of employees working in a company.

Question 6

What is the role of a revenue stream in a business model?

Accepted Answer

To specify how a company will earn revenue from each customer segment.

Answer

To determine the number of employees needed for different business operations.

Answer

To outline the company's marketing strategies for reaching target customers.

Answer

To set the company's pricing strategy for products and services.

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