SEVI 3013 Exam 2 Questions & Answers 100% Correct!
4 views 0 purchase
Course
SEVI 3013
Institution
SEVI 3013
Business Model - ANSWERS-how a company intends to implement its strategy for a product or group of products
-companies can have multiple models
Characteristics of a Functional Business Model - ANSWERS-robust elements: ability to weather challenges and adversity
-Identifies and acquires key ne...
SEVI 3013 Exam 2 Questions & Answers
100% Correct!
Business Model - ANSWERS-how a company intends to implement its strategy for a
product or group of products
-companies can have multiple models
Characteristics of a Functional Business Model - ANSWERS-robust elements: ability to
weather challenges and adversity
-Identifies and acquires key needed resources and processes
-have compatibility of multiple business models: synergy and leverage resources
Components of a business model - ANSWERS-revenue model
-cost structure
-margin/finance model
-resource velocity/turnover model
Revenue Model - ANSWERSprice x model and other revenue streams
Cost Structure - ANSWERS-direct and indirect costs
-inputs are usually key controllable components
Margin/Finance Model - ANSWERS-contribution needed from each sale given expected
volume
-considers the impact of multiple revenue streams
Resource Velocity/Turnover Model - ANSWERSspeed at which assets are utilizes,
revenues realized, etc.
Consumer Value Concept (CVC) - ANSWERSthe unique characteristics of your product
or service that the customer sees as adding value to the product and making it desirable
to purchase and is developed relative to competitors
Revenue Streams - ANSWERSsales, accessories, accessory royalty, royalty games,
and fees for online communication (xbox live)
Cost Streams - ANSWERSmanufacturing and operating costs, raw materials, seminars
and training for game makers
Razor-razorblade Model - ANSWERSfocus on selling products at low cost and
supplemental products
-ex: Gillette, PS4, and printers
, Pay as You Go Model - ANSWERSonly pay for amount used
-ex: utilities/electricity
Subscription - ANSWERSsign up customers for subscription products
-ex: media, like magazines or streaming services
Freemium - ANSWERSoffer basic product for free when consumer pays for a premium
product
-ex: apps are free to download but contains in app purchases
Wholesale Model - ANSWERSmake the product, then sell to retailer, then they sell to
consumer
-ex: Tyson sells to Walmart, Walmart sells to consumers
Agency Model - ANSWERSmodel/acting agencies
Bundling Model - ANSWERSbundle multiple products then sell at a reduced price
-ex: Microsoft Office or fast food places when offer meals at cheaper price
Dynamic Nature of Business Models - ANSWERS-many companies have multiple
business models
-models can evolve (freemium to subscription)
-models can be disrupted
-Beer Distributorships: breweries don't allow other brands "in house" and craft beers
and non-alcoholic products demanded locally
-Failed Business Models: blockbuster and kodak
Assess and Evaluate Business Models - ANSWERS-Imitation Protection: secrecy,
trademark, and lead time
-Protected from stakeholder holdups
-Slack: ability to weather failure of some elements of the business plan
Strategic Action/Response - ANSWERSmarket-based move that involves a significant
commitment of organizational resources and is difficult to implement or reverse
Tactical Action/Response - ANSWERS-market-based move that is taken to fine-tune a
strategy
-usually involves fewer resources and is relatively easy to implement and reverse
Competition - ANSWERSthe struggle among producers for the dollars of consumers
Firms Compete for - ANSWERS- customers
- geographic resources
- inputs
- talent
- capital
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller papersmaster01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
