For the Following Question(s), Use the Accompanying Table

question 33

Multiple Choice

For the following question(s) , use the accompanying table.
Table 3-2

-Refer to Table 3-2.For Helen,the opportunity cost of 1 dress is

• A)1/5 quilt.
• B)1/4 quilt.
• C)2 quilts.
• D)5 quilts.

Understand the concept and importance of a Customer Value Proposition (CVP) in business models.

Recognize the role of innovation and adaptation in maintaining relevance and competitiveness in the market.

Identify different market segments and their significance in a business strategy.

Comprehend the components and structure of the Business Model Canvas.

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Definitions:

Non-profitable Customers

Customers who do not generate more revenue for a company than the costs incurred to serve them, thus not contributing to the company's profit.

High Fees

Charges or prices that are significantly above average or expected, often in the context of services or transactions.

Long-term Customer Relationships

The development and maintenance of enduring relationships with customers, focusing on customer satisfaction and loyalty over time.

Value Formula

An equation or methodology used to determine the worth or perceived worth of a product, service, or entity.