Final answer:
A successful business model addresses eight key elements including value proposition, target customer, distribution channels, customer relationships, revenue streams, key resources, key activities, and cost structure.
Step-by-step explanation:
A successful business model effectively addresses the following eight key elements:
C) Value proposition - The unique value that a business offers to its customers, which sets it apart from competitors.
Target customer - The specific group of customers that the business aims to serve and fulfill their needs.
Distribution channels - The methods and channels through which the business delivers its products or services to customers.
Customer relationships - The strategies and approaches used to build and maintain strong relationships with customers.
Revenue streams - The sources of income and revenue generation for the business.
Key resources - The essential resources and assets required for the business to operate effectively.
Key activities - The core activities and operations that drive the business and create value for customers.
Cost structure - The costs and expenses associated with running the business.