Business Models
This business model sells products directly to customers without using retailers or wholesalers.
What is Direct-to-Consumer (D2C)?
Pizza Hut and Domino’s competing for pizza customers is an example of this type of competition.
What is Direct Competition?
This market structure has many sellers and consumers have the most power.
What is Pure Competition?
This business function focuses on promoting and selling products.
What is Marketing?
This HR role involves searching for qualified candidates to fill job openings.
What is Recruiting?
This business model charges customers a recurring monthly or yearly fee.
What is a Subscription model?
Two businesses selling different products that satisfy the same customer need.
What is Indirect Competition?
This market structure exists when one company controls the supply of a product.
What is a Monopoly?
This business function manages money, budgets, and financial records.
What is Finance/Accounting?
This law prevents employers from discriminating during hiring.
What is the Equal Employment Opportunity Act?
Uber, Airbnb, and Hotels.com are examples of this type of business model.
What is an Aggregator?
This process helps businesses understand their competitors’ strengths and weaknesses.
What is Competitive Analysis?
This market structure has many companies selling slightly different products.
What is Monopolistic Competition?
This business function produces goods and services.
What is Operations?
This document explains job duties and responsibilities.
What is a Job Description?
This business model offers a basic service for free but charges for premium features.
What is Freemium?
Name one thing businesses study when conducting a competitive analysis.
Competitor pricing
Marketing strategies
Strengths
Weaknesses
Products/services
This market structure is controlled by a small number of very large companies.
What is an Oligopoly?
This business function hires and manages employees.
What is Human Resources?
This management skill involves understanding and motivating employees.
What are People Skills?
This business model delivers software online through a subscription instead of installing it locally.
What is SaaS (Software as a Service)?
Competition benefits consumers because it usually leads to these two things.
Lower prices and better quality products
This market structure usually has the highest barriers to entry.
What is a Monopoly?
This business function creates the plans used to reach company goals.
What is Strategy?
This management ability involves solving complex business problems and making decisions.
What are Problem-Solving Skills?