Entrepreneurship of Building Business Models MCQs
Entrepreneurship of Building Business Models MCQs
Try to answer these 30 Entrepreneurship of Building Business Models MCQs and check your understanding of the Entrepreneurship of Building Business Models subject.
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1: Which type of value proposition that involves identifying and promoting all the benefits of a product or service to customer segments.
A. All-Benefits
B. Technical Benefit
C. Business Benefit
D. None of these
2: Which model describes the rationale of how a new venture creates, delivers, and captures value?
A. Business Model Canvas
B. Customer Value Proposition
C. Business Model
D. None of these
3: A one-page plan that divides the business model into nine components in order to provide a more thorough overview are called .
A. Business Model Canvas
B. Customer Value Proposition
C. Business Model
D. None of these
4: Customer Value Proposition describes why a customer should buy and use your product or service.
A. True
B. False
5: In Entrepreneurship Skill who populate the segments of a market served by the offering.
A. Customers
B. Diversified Market
C. Customer Value Proposition
D. None of these
6: In a diversified market two or more customer segments with different needs and problems that bear no relationship to each other.
A. True
B. False
7: The practice of hypothesizing, testing, and validating to create a business model are called
A. Evidence-Based Entrepreneurship
B. Diversified Market
C. Infrastructure
D. None of these
8: Defines the revenue and cost structures a business needs to meet its operating expenses and financial obligations are called ?
A. Infrastructure
B. Financial Viability
C. Lean Canvas
D. None of these
9: The resources (people, technology, products, suppliers, partners, facilities, cash, etc.) that an entrepreneur must have in order to deliver the CVP is known as
A. Infrastructure
B. Lean Canvas
C. Mass Market
D. Both a&c
10: Lean Canvas is an adapted version of the BMC that was created to better address the needs of startup entrepreneurs.
A. Older version of the BMC
B. Mass Market
C. Self-created version of the BMC
D. None of these
11: Mass Market is large group of customers with
A. similar needs and problems.
B. Totally different needs and problems.
C. Both a&b
D. None of these
12: For multi sided markets best statement sorted
A. Multi Sided Markets
B. Niche Market
C. Product–Market Fit
D. Mass Market
13: Which market consists of customers with specific needs and requirements.
A. Multi Sided Markets
B. Niche Market
C. Product–Market Fit
D. Mass Market
14: he value generated for those customers, and how you will reach and communicate with them is known as.
A. Offering
B. Lean Canvas
C. Mass Market
D. None of these
15: Resonating-Focus is a type of value proposition that focuses on the product or service relative to the competition and how the offering is different from others on the market.
A. True
B. False
16: Product–Market Fit is an offering that ____.
A. describes why people will really
B. meets the needs of customers.
C. Both a&b
D. None of these
17: Which type of value proposition that describes why people will really like your product and focuses on the customers and what they really need and value.
A. Resonating-Focus
B. Bottom-Up Analysis
C. Segmented Market
D. None of these
18: In segmented markets divided into groups according to customers’ different “_______ “
A. needs and problems.
B. Want and need
C. Both a&b
D. None of these
19: The ______ approach to value proposition, also known as the product-market fit approach, is an approach where you clearly describe why customers will really like your product and focus on what customers need and value.
A. all-benefits
B. points of difference
C. resonating focus
D. value-based
20: A business model has four core areas; ______ is the part of the business model that identifies the value your business offers to customers.
A. the offering
B. the canvas
C. the infrastructure
D. the financial viability
21: A ______ is a large group of customers with very similar needs and problems.
A. mass market
B. niche market
C. multisided market
D. segmented market
22: In the business model canvas, the customers’ part relates to which of these components?
A. value proposition
B. cost structure
C. channels
D. key partners
23: Typically, customers face at least one of four problems that prevent them from getting a job done; entrepreneurial opportunities that deliver a previously unaffordable product or service address customer ______.
A. lack of time
B. lack of money
C. lack of skills
D. lack of access
24: In the business model canvas, the infrastructure includes which of these elements?
A. value proposition
B. cost structure
C. channels
D. key partners
25: A business model has four core areas; ______ is the part of the business model that defines the revenue and cost structures.
A. the offering
B. the offering
C. the offering
D. the financial viability
26: A business model has four core areas; ______ is the part of the business model that includes all the segments of your market that your product or service is geared toward.
A. the offering
B. the customers
C. the infrastructure
D. the financial viability
27: A ______ market is a small market segment comprising customers with specific needs and requirements.
A. segmented
B. diversified
C. niche
D. closed
28: Which of the following is true about business models?
A. It is easier for established companies to make quick, efficient changes to their business models because they have better access to the necessary resources.
B. Established businesses do not need to make changes to their business models, because the fact that they are established suggests their model is appropriate.
C. A business model includes a network of activities and resources to create a sustainable and scalable business that delivers value to target customers.
D. Startups should not define a business model until they have established a customer base.
29: The ______ is the most important part of your business model. As an element of the offering, it describes exactly what products or services your business offers and sells to customers.
A. market segmentation
B. product/service profile
C. product/service profile
D. customer value proposition
30: A ______ is a conceptual framework that describes how a new venture creates, delivers, and captures value.
A. business plan
B. storyboard
C. business model
D. business canvas
31: Typically, customers face at least one of four problems that prevent them from getting a job done; people who don’t have the knowledge or ability to complete a task are experiencing ______.
A. lack of time
B. lack of money
C. lack of skills
D. lack of access
32: The approach to value proposition creation that focuses on your product or service relative to the competition, recognizing your offering as unique is called the ______ approach.
A. all-benefits
B. points-of-difference
C. resonating-focus
D. value-based
33: In considering your target market, a ______ describes two or more customer segments that are linked but independent of each other.
A. multisided market
B. diversified market
C. segmented market
D. niche market
34: Lifestyle entrepreneurs ________
A. Plans to have her business expand beyond her local area
B. Want flexibility and freedom in the way they balance their personal and work lives
C. A group of individuals with varied experiences and skills that come together to form a new venture
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Entrepreneurship of Building Business Models MCQs
