SEVI 3013 EXAM 2 QUESTIONS & ANSWERS 100% LATEST UPDATE!
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Course
SEVI 3013
Institution
SEVI 3013
What is Business Model? - ANSWERSDescribes what a firm does to create, deliver, and capture value for its stakeholders
How is Business Model Related to Strategy? - ANSWERSA company's business model is a part of its business' overall strategy. It is a component in how the company plans to achieve...
SEVI 3013 EXAM 2 QUESTIONS &
ANSWERS 100% LATEST UPDATE!
What is Business Model? - ANSWERSDescribes what a firm does to create, deliver,
and capture value for its stakeholders
How is Business Model Related to Strategy? - ANSWERSA company's business model
is a part of its business' overall strategy. It is a component in how the company plans to
achieve its goals.
What are the Components of a Business Model? - ANSWERS
How do Business Models Help Make Strategic Decisions? - ANSWERS
Customer Value Concept (CVC) - ANSWERS
Revenue Streams - ANSWERS
Cost Streams - ANSWERS
Franchise (Business Model) - ANSWERSFinds a firm licensing its trademark and the
processes it follows to create and deliver a product to franchisees
The firm franchising its trademark and processes captures value by receiving fees and
royalty payments from its franchisees
McDonald's and Panera Bread
Freemium (Business Model) - ANSWERSThe firm provides a basic product to
customers for free and earns revenues and profits by selling a premium version of the
service
Dropbox and MailChimp
Advertising (Business Model) - ANSWERSFor a fee, firms provide advertisers with high-
quality access to their target customers
Google and Pinterest
Peer-to-Peer (Business Model) - ANSWERSWhere a business matches those wanting
a particular service with those providing that service
Task Rabbit and Airbnb
, Subscription (Business Model) - ANSWERSThe business model finds a firm offering a
product to customers on a regular basis such as once-per-month, once-per-year, or
upon demand
Netflix and Blue Apron
The Dynamic Nature of Business Models - ANSWERS
The Criteria to Look at to Assess and Evaluate Business Models - ANSWERS
Tactical Moves - ANSWERSA market-based move that firms take to fine-tune a
strategy; These actions and responses involve fewer resources and are relatively easy
to implement and reverse
Strategic Moves - ANSWERSA market-based move that involves a significant
commitment of organizational resources and is difficult to implement and reverse
Why are Tactical Moves and Strategic Moves Important? - ANSWERSFirms use both
strategic and tactical actions when forming their competitive actions and competitive
responses in the course of engaging in competitive rivalry
When engaging rivals in competition, firms must recognize the differences between
strategic and tactical actions and responses and develop an effective balance between
them
Competition - ANSWERSCompetitors are firms competing in the same market, offering
similar products, and targeting similar customers
Competitive rivalry is the ongoing set of competitive actions and responses occurring
between competitors as they compete against each other for an advantageous market
position
What are the Different Things Firms Compete for? - ANSWERS
Competitor Analysis - ANSWERSThe first step the firm takes to be able to predict its
competitors' actions and responses
Firms study market commonality and resource similarity to complete a competitor
analysis; the greater the market commonality and resource similarity, the more firms
acknowledge that they are direct competitors
Market Commonality - ANSWERSIs concerned with the number of markets with which
the firm and a competitor are jointly involved and the degree of importance of the
individual markets to each
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