LU01

Question 1

Customer Def

Answer 1

One that purchases a commodity/ service

Question 2

User Def

Answer 2

One that uses a commodity/ service

Question 3

Touch Points Def + Example Types

Answer 3

individual contacts between firm and user
Examples: Brand-owned, Partner-owned, User-Owned, Social/ external

Question 4

Stages of Touch Points

Answer 4

Pre-Purchase-Stage
Purchase-Stage
Post-Purchase Stage

Question 5

Pre-Purchase Stage Behaviour

Answer 5

 Need recognition
 Consideration
 Search

Question 6

Purchase Stage Behaviour

Answer 6

 Choice
 Ordering
 Payment

Question 7

Post Stage Behaviour

Answer 7

 Consumption
 Usage
 Engagement
 Service requests

Question 8

User Story def

Answer 8

short, simple description of a feature told from the perspective of the person who desires the new capability, usually a user/ customer of the system

Question 9

User/ customer value def

Answer 9

what user gets from the purchase + use of product relative to what they have to give up/ pay thus resulting in an attitude/ emotional bond towards the product

Question 10

Value Proposition Canvas Bestandsteile

Answer 10

Value Proposition:
- Products & Services
- Gain creators
- Pain relievers

Client Profile:
- Pains
- Gains
- Jobs to be done

–> VPC addresses value gaps of the user journey cycle

Question 11

Exponential Businesses + Examples

Answer 11

Wenig Input > Viel Output
 Services
 Plattform-Unternehmen
 Skalierbarkeit
(zB. Google, Meta, Tesla, Microsoft)

Question 12

Digital Transformation

Answer 12

Change of value creation:
Geld verdienen durch neue Prozess wie zB Predictive Maintenance

Question 13

Digitalization

Answer 13

Change of Process:
Prozess Verbesserung durch Digitalisierung z.B. durch Automatisierung

Question 14

Digitazation

Answer 14

Change of activities:
Physisches in elektronisches Umwandeln

Question 15

Three dimensions of digitalization for corporations

Answer 15

Digital user/ consumer
Digital Processes
“Smart” Products & Services

Question 16

Three dimensions of digitalization for corporations:
External focus

Answer 16

Kundensicht [Nutzung]
- Customer Journey  alles was nicht genutzt wird, schafft keinen Nutzen  Einfachheit für Kunden im Mittelpunk
- Subscription based bspw. nur durch Nutzen kann ich Value generieren
 Daten Generierung KPI = Traffic

Question 17

Three dimensions of digitalization for corporations:
Internal focus

Answer 17

backstage [Automatisierung]

Question 18

Three dimensions of digitalization for corporations:
Result focus

Answer 18

Digitalität in Produkt reinbringen
 Digitales auswerten, Learning, PBC
! Nur weitergehen an der Digitalisierung, wenn Markt es hergibt & nachfragt

Question 19

Digitalization Impact on Companies

Answer 19

 Current business models become partially invalid
 Value networks and service systems instead of value chains
 High expenditures on the management of digitization
 Variaty of parallel digitization
 No central person in charge for digitization activities

Question 20

Business Engineering

Answer 20

A method- and model based design approach for the transformation of companies into the digital age

Question 21

Platform based Business Models:

Answer 21

 Use of Network Effects
 Generation of Lock-in Effects
 Taking Advantage of Marginal Cost of digital goods
 Data-driven

Question 22

Digital Goods

Answer 22

Digital goods are immaterial products/ services stores, transferred and processed in the form of binary data

Question 23

Cost Structure of digital goods

Answer 23

• fixed costs stay the same throughout the production volume
• Marginal costs tends towards zero

Question 24

Two-sided Businesses (5pkt)

Answer 24

 Intermediary economic platform
 Two distinct user groups that provide each other with network benefits
 Multisided platform: Organisation that creates value primarily by enabling direct interactions between two (or more) distinct types of affiliated customers
 Value for both depends on the other group
 Servicegüter = Erfahrungsgüter  Platformanbieter profitieren von Recommendations

Question 25

Business ecosystems - Description

Answer 25

set of actors functioning as a unit and interacting on shared marked for software + service, together with their reationships

Question 26

Business ecosystems - Elements

Answer 26

Stakeholders and projects

Question 27

Business ecosystems - Environment

Answer 27

Software + hardware tools and platforms, social media

Question 28

Business ecosystems - interfirm network

Answer 28

top-down (one dominant keystone firm)/ Bottom-up (e.g. open source consortium)

Question 29

Definition of generative AI

Answer 29

GenAI is a class of Machine Learning algorithms that can learn from content such as text, images, and audio in order to generate new content

Question 30

Types of ecosystems (geordnet nach Anzahl Partner)

Answer 30

Traditional Product Digitizer Platform Super Platform

Question 31

Pinguin Effect

Answer 31

1 Eisscholle mit Pinguinen, erst wenn 1. Ins Wasser geht und es sicher ist, folgt der Rest ! Schwierig 1. Kunden zu bekommen bzw. critical Mass zu erreichen Möglichkeit mit Freemium zu überwinden und dann mit Reviews von Nutzern zu arbeiten

Question 32

Bandwagon Effect

Answer 32

Word of Mouth --> Mehr und Mehr Kunden werden mitgezogen

Question 33

Critical Mass - Def

Answer 33

Refers to the point when the adoption rate of a product/ service becomes self-sustaining and naturally accelerates without the need for further marketing efforts

Question 34

Critical Mass depends on

Answer 34

 User growth rates  Churn rate  User engagement metrics  Network effects  Share of innovators and imitators in the system

Question 35

Network Effects def

Answer 35

The value of a products or service for a user depends on the number of users in the network using it --> Abhängig von gegenwärtigem und zukünftigen Nutzen

Question 36

Network: Positive consumption effects:

Answer 36

 Network effect which is determined by the number of users  Benefits of an increase of a good along with the distribution of the good (network benefit)

Question 37

Network: Positive production effects

Answer 37

!! economies of scale !!  Consequence of a positive consumption effect  Average cost of one entity of a good decreases with an increasing production volume

Question 38

Direct vs. Indirect network effects:

Answer 38

Direct: New users join --> Increasing network value Distribution of a good is determined by its utility (e.g. telephone) Indirect: New users join --> Increasing number of complementary products --> increasing network value Distribution of a good determines the offering of complementary goods

Question 39

Metcalfe’s Law

Answer 39

The total utility of a network is directly proportional to the square of the numbers of users

Question 40

Demand function with network effects (Verlauf)

Answer 40

--> Increased number of people improve the value of a good/ service - High willingness to pay, as the value increases constantly - Increasing network benefits --> Tipping Point --> Decreasing demand as too many users can slow network down and reduce its utility and quality --> decreasing marginal willingness to pay for network benefits

Question 41

Standards

Answer 41

Broadly accepted and applied rule and norm, Standards are network effect commodities whose value relies on the grade of distribution --> ensure compatibilities between systems --> are the foundation of network effects

Question 42

Standart Types

Answer 42

 Industry standards (de-facto standards)  Manufacturer-specific (proprietary standard)  Open standard (that are freely available for adoption, implementation and updates)  De-jure standard

Question 43

Lock-ins bind user to a certain provider, due to

Answer 43

- Demand - Offer - Learning - Technology

Question 44

Switching costs Types

Answer 44

 Sunken costs old product (20%)  Overcoming habit (20%)  Learning expansion (10%)  Investments in compatibility (10%)  Actual costs (40%)

Question 45

Cycle of lock-in effects

Answer 45

Increasing binding of users to the system  Increasing integration in the system  increasing switching costs  Decreasing probability of a system change