The First Two Steps in Building a Business Model Involve

question 34

Multiple Choice

The first two steps in building a business model involve ____ and ____.

• A)identifying position in the value chain / developing competitive advantage ​
• B)identifying position in the value chain / creating customer value
• C)identifying investors / identifying competition.
• D)creating customer value / identifying sources of revenue
• E)developing competitive advantage / determining cost drivers

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Definitions:

Retailers

Businesses or individuals that sell goods directly to consumers for personal, non-business use.

Retail Situation

Describes the current state and dynamics of the retail market, including trends, challenges, and opportunities for retail businesses.

Location

A specific place or position, often considered in the context of business as a strategic factor in success.

General Merchandise Retailer

Businesses that sell a wide range of products across different categories, typically in large department stores or through online platforms.