ENTREPRENEURSHIP

What is the other term for unique selling proposition?

• universal selling proposition      

• unique selling point       

• universal selling point

• unique selling proposal

What refers to a marketing strategy that focuses on special features of a product or service that

• unique selling proposition

• value Proposition

• business logo

• business statement

Which of the following is not an advantage of a unique selling proposition?

• clear differentiation       

• improve revenue

• Improve distribution

• customer loyalty

An entrepreneur must know what drives the customer to buy the product. What purpose of a unique selling proposition is implied by the statement?

• to sympathize with customers’ needs

• to have loyal customers

• to achieve improved revenue

• to motivate the customers

What is the fourth step in creating a unique selling proposition?

• Review the planning process

• Focus on the solution

• Identify the target audience’s problem.

• Combine the elements into a concise statements

Why does sales staff benefit when businesses use a unique selling proposition for a product or service?

• The price of the product goes down.      

• The inventories for the product increase

• The price of the product increases dramatically.

• It is easier for the staff to sell the product.

What refers to the marketing statement that indicates the worth that a business offers to its customers?

• unique selling proposition

• value creation

• value proposition

• value transfer

What refers to the six-step interactive process in building value or worth to customer experience?

• value life cycle

• value renewal

• Value Proposition Builder model

• unique selling proposition

The entrepreneur creates a product and determines the key partners, key activities, and key resources for the creation of the product. What stage in the value life cycle is being referred to?

• value consumption

• value creation

• value transfer   

• value renewal

Which is not an advantage of the value proposition?

• focuses on vague business value

• gives direction

• breeds confidence

• improves customer understanding and engagement