MIST Quiz #2 1. Question 1: a. Customer Segment: A group of customers with common needs, comDon't forget about the age old question of 1.5 x iqr rule
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mon behaviors, or other attributes. b. Value Proposition: The benefit or bundle of benefits that a company offers customers. c. Key Resources: The most important assets required to make a business model work. d. Cost Structure: Describes all costs incurred to operate a business model. 2. Question 2: What business model involves serving two or more interdependent market segments, and typically involves a platform to bring the two customers together? a. Segmented b. Multi-sided c. Diversified d. Mass Market e. Niche Market 3. What of the following best describes the “bait and hook” business model? a. Give a product away and then charge for the premium version. b. Find both buyers and sellers and bring them together on your platform. c. Integrate primary activities and support activities in the value chain. d. Provide products for low or no cost and then make up the profits on complementary goods. e. All of the above describe elements of the “bait and hook” business model. 4. According to the article “Optimizing Your Digital Business Model,” what are the three components of every digital business model? a. Content, Experience, and Platform b. Processes, Data, and Technology c. Customer Relationships, Value Propositions, and Revenue d. Products, Information, and Customers e. Data, Technology, and People 5. Which of the following is NOT one of the phases of the SDLC? a. Identify the goals of the organization b. Identify the specific requirements of the system c. Analyze the existing situation d. Position the organization to generate value e. Iterate and design the potential solutions 6. Which of the following is NOT a revenue stream for the organization as they provide a value proposition? a. Reduction of risk and uncertainty b. Licensing c. Subscription Fees d. Asset sale e. Advertising 7. Which of the following is/are a true statement about the business model canvas? a. Customer groups represent a distinct segment if we give them a distinct offer or we serve them through different channels.b. The channel component describes how we will deliver or reach our customers with the value proposition. c. The right side of the canvas is generally related to revenue recognition, while the left side of the canvas is generally related to costs. d. All of the above statements are true. e. None of the above statements are true. 8. A business model canvas can be used to identify the various aspects of the canvas that generate profit for the business. a. True b. False 9. Two-sided markets rely on which effect to be successful? a. Network effects b. Scale effects c. Scope effects d. Diversity effects e. Special effects 10.Which of the following is NOT an example of an organization maintaining a customer relationship? a. Amazon.com inviting customers to write reviews b. GlaxoSmithKline launching a private online community c. Netflix recommending movies and television shows to customers d. Airlines paying Rolls-Royce a fee for servicing airline engines e. All of the above are key resources 11.Which of the following does NOT describe a type of key resource? a. Physical assets such as facilities, buildings, vehicles among others b. Designing, making and delivering a product in substantial quantities c. Brands, proprietary knowledge, patents and copyrights, partnerships d. Cash, lines of credit, stock option pools, financial guarantees e. All of the above are key resources. 12.A business model CANNOT be used to do which of the following? a. Identify the sequence of primary and support activities within the organization used to generate value for the customer and margin to the organization. b. Identify the costs associated with the variety of resources and activities undertaken by the organization to provide the value proposition. c. Identify the portions of the business model that are relevant to generating revenue and profit to the organization d. Identify the different customer segments and the parts of the business model that are relevant to providing the value proposition to the customer segment.