FIRM STRATEGY

Question 1

WHAT IS BUSINESS MODEL CANVA?

Answer 1

IT’S A DESCRIPTION OF HOW THE ORGANIZATION CREATES, DELIVERS AND CAPTURES VALUE. CAN BE USED TO ANALYZE AN EXISTENT BUSINESS OR START A NEW ONE

Question 2

WHAT ARE THE MAIN FEATURES OF THE BUSINESS MODEL CANVAS?

Answer 2

VALUE PROPOSITION
KEY RESOURCES
CHANNELS
CUSTOMER SEGMENT
CUSTOMER RELATIONSHIP
REVENUE STREAS
COST STRUCTURE
KEY PARTNERS
KEY ACTIVITIES

Question 3

WHAT ARE THE 5 TYPES OF MARKET SEGMENTS?

Answer 3

MASS MARKET
NICHE MARKET
SEGMENTED MARKET
DIVERSIFIED MARKET
MULTI SIDED MARKET

Question 4

EXPLAIN VALUE PROPOSITION

Answer 4

IS A STATEMENT THAT SUMMARIZES WHAT THE COMPANY IS OFFERING AND FOR WHOM IT IS OFFERING TO

Question 5

EXPLAIN CUSTOMER SEGMENT

Answer 5

OUTLINES WHO THE COMPANY IS SELLING FOR AND WHY WOULD THEY BUY THE PRODUCT/SERVICE

Question 6

EXPLAIN CHANNELS

Answer 6

IS HOW THE FIRM WILL CONTACT THE TARGETED CUSTOMERS
IT CAN BE VIRTUAL CHANNELS, PHYSICAL CHANNELS OR BOTH

Question 7

EXPLAIN REVENUE STREAMS

Answer 7

ARE THE MEANS BY WHICH THE FIRM WILL BE MAKING MONEY
THE STRATEGY THEY WILL USE TO GENERATE CASH

Question 8

WHAT ARE THE 3 REVENUE STREAMS. GIVE EXAMPLES FOR EACH

Answer 8

PHYSICAL (RENTING AN APARTMENT)
VIRTUAL ( FREEMIUM- TINDER)
SUBSIDY (GRANTS, DONATIONS, CROWDFUNDING)

Question 9

EXPLAIN PRICING MODELS

Answer 9

ARE THE TATIC THE FIRM USES TO SET THE PRICE FOR EACH CUSTOMER SEGMENT

Question 10

NAME THE PRICING MODELS

Answer 10

COST BASED ( PROPORTIONAL TO PRICE OF PRODUCTION)
VALUE BASED ( ACCORDING TO THE VALUE THE PRODUCT BRINGS MORE THAN ITS ACTUAL COST OF PRODUCTION)
COMPETITIVE BASED ( IN COMPARISON WITH RIVAL FIRMS)
VOLUME BASED ( DESIGNED TO ENCOURAGE BIG SALES)
AFFORDABLE (BASED ON CUSTOMERS INCOME)
RAZOR/RAZOR BLADE ( 2 FOR 1, YOU GET ONE FOR FREE IF YOU BUY THE OTHER)