Business Model, Supply Chain, & Canvas Quiz

What is the primary purpose of the business model canvas?

• To create a financial report for investors.

• To provide a clear and visual summary of a business strategy.

• To calculate the profit margin of a business.

• To design promotional materials for a product.

Which of the following is NOT a component of the business model canvas?

• Value Proposition

• Revenue Streams

• Marketing Budget

• Key Activities

Why is supply chain management (SCM) important for a business?

• It eliminates the need for marketing.

• It guarantees immediate customer satisfaction.

• It ensures efficient delivery of products while minimizing costs.

• It avoids the need for partnerships.

Which of the following is an example of an effective supply chain?

• A company stores excess inventory indefinitely.

• A supplier consistently delivers raw materials late.

• A business coordinates with suppliers to ensure timely production and delivery.

• A company avoids using technology to track shipments.

What happens to prices when demand exceeds supply?

• Prices decrease to attract more customers.

• Prices increase due to limited availability.

• Prices remain unchanged.

• Prices are set by competitors.

What is a key factor to consider when setting the price for a product?

• Ignoring competitor prices.

• Only focusing on customer preferences.

• Balancing production costs and customer value perception.

• Avoiding market research.

What is a value proposition in the business model canvas?

• A financial projection for the next fiscal year.

• A list of marketing strategies for the business.

• A statement of the unique benefits the business offers to its customers.

• A summary of supply chain logistics.

Which of the following best describes the relationship between supply and demand?

• Supply and demand are unrelated in pricing.

• Prices decrease when demand is high and supply is low.

• Prices increase when demand exceeds supply and decrease when supply exceeds demand.

• Prices remain constant regardless of supply and demand changes.

Why is it important to identify key partnerships in a business model canvas?

• To increase customer engagement directly.

• To reduce the need for external suppliers.

• To leverage external resources and share risks.

• To avoid marketing costs entirely.

What is the main goal of setting a competitive price for a product?

• To attract customers while maintaining profitability.

• To offer the lowest price in the market.

• To maximize production output.

• To eliminate all competitors.