Understanding Value Propositions

What is a value proposition?

• A financial statement

• A clear, compelling statement that explains benefits to potential customers

• A detailed business plan

• A customer complaint form

What does a value proposition answer?

• Where to locate your business

• What value a product or service provides over competitors

• How to increase company profits

• How to reduce production costs

What is NOT a component of a value proposition?

• Advantage over competitors

• Company's annual revenue

• Solving customer problems

• Benefits to customers

What is the difference between a slogan and a value proposition?

• A value proposition is a financial document

• A slogan is an attention-grabbing phrase

• A value proposition is designed to generate brand recognition

• A slogan is longer and more detailed

What is the main purpose of a value proposition?

• To design the company logo

• To recruit new employees

• To create a catchy slogan

• To maintain a company's competitive advantage

Which of the following is NOT a step in writing a value proposition?

• Analyzing competitors

• Choosing company colors

• Researching the target audience

• Revisiting the company's mission

Which of the following is an example of a value proposition?

• "Buy one get one free"

• "Open 24 hours"

• "Located downtown"

• "Serving high-quality food and beverages in a fast, friendly environment at a great value"

What is the purpose of the Value Proposition in the business model canvas?

• To create a new logo

• To differentiate your company

• To design the company's website

• To plan the company's holiday party

Finish the sentence. A business concept describes the

• core activities of the business and the features and value of the goods or services it provides

• way you got the idea

• starting point of a business

Which of the following best describes the purpose of identifying customer segments ?

• To determine the company's profit margins

• To identify the different groups of people who will benefit from the product

• To calculate the overall cost of the project

• To design the product's logo and branding