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What key elements make up a company's Value Proposition?
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Unique selling points, pricing strategy, quality, delivery, flexibility, service.
What is the purpose of the Cost Structure element in BMC?
To identify key costs and operational expenses, focusing on efficiency.
What example was given for a Value Proposition in the lecture?
Customizable furniture by height and weight delivered in under a week.
Provide an example of a business forming a customer segment.
Online market segmentation into children, family, and work-from-home segments.
What is the purpose of performing a break-even analysis as discussed in BMC?
To show the costs that need to be covered by the profit to reach break-even.
Describe what falls under the Key Resources category in the BMC.
Land, machinery, patents, licenses, necessary assets for operations.
What are the two primary components of the Cost Structure in BMC?
Operational Expenses (OPEX) and Capital Expenditures (CAPEX).
What are some methods to build and maintain Customer Relationships according to BMC?
Social media, trade shows, podcasts, newsletters, promotions.
What does the Key Partners section in BMC address?
Identifying major partnerships and suppliers necessary for business operations.
What type of activities are considered Key Activities in the BMC?
Essential actions required to produce and deliver the product/service.
Give an example of a Channel strategy in the BMC.
Partnering with schools and kindergartens for children's furniture.
Who invented the Business Model Canvas (BMC)?
Alex Osterwalder and Eve Pine.
How should businesses categorize their market segments according to BMC?
Using geography, product types, or other strategic methods.
What does Peter Drucker believe a business model must answer?
Who the customer is, what value can be created, and how it can be done at reasonable costs.
What purpose do Channels serve in the BMC?
To decide how to reach customer segments.
List an example of Key Activities indicated in the lecture.
Furniture making, customer measuring, just-in-time assembly, incentive schemes.
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