3

Question 1

name the different methods of pricing

Answer 1

cost-based, competition-based, value-based

Question 2

questions in a van Westendorp survey

Answer 2

1. adequate, still attractive price
2. high, acceptable
3. too high
4. too cheap

Question 3

Define “vision” according Dorf and Byers

Answer 3

a statement of insight, intention, ambition and purpose

Question 4

What should a vision look like according to Hoover?

Answer 4

clear, consistent, unique and purposeful

Question 5

definition of term ‘business model’ according Magretta

Answer 5

a set of planned assumptions about how a firm will create value for all its stakeholders

Question 6

4 ‘values’ in the model of Al-Debei and Avision

Answer 6

value...
...proposition (value for customers)
...architecture (organization, infrastructure)
...network (partners)
...finance (costing/pricing, credits...)

Question 7

name components of Value Proposition Canvas (and draw it!)

Answer 7

gains - gain creators
pains - pain relievers
customer jobs - products and services

Question 8

components of business model canvas (and draw it)

Answer 8

customer segments
value proposition
channels
customer relationships
revenue streams
key resources
key activities
key partners
cost structure

Question 9

what are business model patterns?

Answer 9

capturing ideas as types and reusable descriptions, models with similar characteristics, behaviors or arrangements of ‘building blocks’

Question 10

5 stages of a startup

Answer 10

1. discovery
2. validation and traction
3. efficiency
4. scale
5. sustain or exit

Question 11

definition of startup according Eric Ries

Answer 11

human institution designed to create a new product or service under conditions of extreme uncertainty

Question 12

what is ‘lean start-up’?

Answer 12

method to systematically reduce the risk of projects with high uncertainty