A ________ Explains How the Different Pieces of a Business

question 21

Multiple Choice

A ________ explains how the different pieces of a business fit together.

• A) business strategy
• B) value model
• C) business plan
• D) business model

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Definitions:

Needs

Needs refer to the basic requirements or essentials that individuals must have to survive and function, such as food, shelter, and safety.

Intangibility

A characteristic of services that means they cannot be seen, tasted, felt, heard, or smelled before they are bought.

Subjective Criteria

Decision-making factors based on personal preferences, opinions, or judgments rather than on objective data.

Purchase Decision

The final stage in the buying process where a consumer chooses to buy a specific product or service after considering various alternatives.