Value Proposition

Front

What is the meaning of value proposition?

Back

Statement that identifies the benefits and the reason why a customer should purchase a product or service to the business.

Answer explanation

A value proposition is a statement that clearly identifies the

benefits and the reason why a customer should purchase a product

or service to the business.

Front

Complete the phrase: “The value proposition builder model is a ___ -step interactive process in building value or worth to the customer experience.”?

Back

SIX

Answer explanation

The value proposition builder model is a six-step interactive process in building value or

worth to the customer experience. The steps in value proposition builder model are the

following:

Front

The steps in the value proposition builder model are the following: Market, Value experience, Offerings, Benefits, Alternative and differentiation, Proof

Back

Market, Value experience, Offerings, Benefits, Alternative and differentiation, Proof

Answer explanation

The value proposition gives direction, creates focus, breeds confidence, improves

customer understanding and engagement, and focuses on clarity of business

value.

Front

What is the meaning of Gives direction?

Back

It provides a clear direction by identifying the target market and understanding the needs of the customers that can be satisfied by a planned solution.

Front

What is the meaning of Creates Focus?

Back

Focuses on how and why the business will deliver value. It also outlines what the business must deliver to meet the customer’s needs and create an overall marketable experience.

Front

What is the meaning of Breeds confidence?

Back

It gives the entrepreneur confidence that comes from knowing that the business is making a difference to the people they serve in a way meaningful to them.

Front

What is the meaning of Customer understanding and engagement?

Back

It serves as a basis to engage the customers by understanding how the customer views the business and its products or services.

Front

What is the meaning of Focus on clarity of value?

Back

It focuses on brand awareness. The business is going to identify a very clear picture of the business’s brand.

Front

The value proposition builder model is a six-step interactive process in building value, the word "Market" means?

Back

This includes analyzing and identifying the market or specific clients or target groups of the business.

Answer explanation

First step is market, which means analyzing and identifying the market or specific

clients or target groups of the business.

Front

The value proposition builder model is a six-step interactive process in building value. The word "Value experience" means?

Back

Analyzes the value experience that the customer may get from the business and its activities. The entrepreneurs must know how to define good, bad, and neutral undertakings because the effectiveness of the value proposition depends on customer feedback.