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Technopreneurship Midterms > Value Proposition > Flashcards

Value Proposition Flashcards

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1
Q

This is a declaration of how the benefits of the products and services will be delivered, experienced, and acquired by their customers.

A

Value proposition

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2
Q

He developed the Value Proposition Canvas.

A

Dr. alexander osterwalder

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3
Q

Value proposition is usually addressed to the target market segment of the company and takes the formof _________ , _________, & ________ statement of the tangible and intangible benefits that will be delivered to the customers.

A

Clear , Concise , Short

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4
Q

It is a short statement that embodies a certain aspect of your brand or business.

A

Tagline

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5
Q

This is displayed in Ads, Campaign commercials or packaging.

A

Slogan

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6
Q

This appears on company website, marketing campaigns, and brochures.

A

Value Proposition

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7
Q

This is created to convey the company’s mission.

A

Slogan

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8
Q

This is made to address the brand’s image. Intended for public relations and awareness about the company.

A

Tagline

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9
Q

This is used for a **short period **of time and for specific campaigns.

A

Slogan

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10
Q

The term value proposition was first mentioned in the year

A

1988

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11
Q

Where is the value proposition term first mentioned?

A

Staff Paper

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12
Q

The consulting firm that publicized the paper that first mentioned the term value proposition.

A

McKinsey and company

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13
Q

This is found mainly in the public-facing messaging.

A

Tagline

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14
Q

The authors that mentioned and define the term value proposition.

A

Edward Michaels
Michael Lanning

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15
Q

Types of benefits that should be included in the value proposition.

A

Intangible
Tangible

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16
Q

The year where value proposition has been widely adopted as a marketing and selling tools.

A

1990

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17
Q

This is a framework which can help ensure that the product or services is positioned around the needs and values of costumer.

A

Value proposition Canvas

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18
Q

Value proposition has been published in ____ language.

A

37

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19
Q

An important element of an effective value proposition as it gives the company a clear idea of who its ideal costumer and can share the value proposition that will attract the customer.

A

Target Market

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20
Q

The** demographics **that must be identified to design the value proposition.

A

Age, Income , Status

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21
Q

This is the** value** which the company sets for their** products and services.**

A

Specific Value

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22
Q

This involves the company’s aim of** appealing to the emotion** of their customers and to establish a relationship with their customers and hopefully produce loyal customers.

A

Customer Connection

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23
Q

Purpose of Value Proposition.

A

Ensure consistentmessaging
Help the company differentiate
Improve customer understanding
Support the sales process

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24
Q

Identify if this is a slogan, a tagline, or a value proposition.“Just do it”

A

Tagline

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25
Identify if this is a slogan, a tagline, or a value proposition. **"I'm loving it"**
Tagline
26
It is a **statement of the value of the company** offers through its products or services that **distinguishes their values from their competitors**.
Value Proposition
27
37. These are defined as **'positive motivational influence**' which are intended to **encourage a visitor or customer** to act immediately.
Incentives
28
38. It is a **short**,**memorable phrase** that businesses use in advertising campaigns to promote a **particular product or service.**
Slogan
29
39. It is **a short phrase** that encapsulates a c**ertain element of your brand **or company. It can also convey a** principle or ideal that your company upholds**.
Tagline
30
40. It describes how a certain good, service, or brand **meets a specific consumer** need in a way **that differentiates it from its rivals.**
Positioning statement
31
41. This explains what you want to **accomplish as a company.**
Mission statement
32
42.-45. **Components** in making a value proposition.
- Brief paragraph of products or service you are offering - Bullet points of main characteristics or advantages - Catchy headline - Supporting picture
33
46.-54. **Best practices** for value proposition
- Add a visual element - Be sure to prove it - Evolve - Find boosters - keep it hype free - let it drive company motivation - spread the word - think about dedicating a page - use voice of customer
34
55. This company has the value proposition of **"Music for everyone".**
Spotify
35
56. This company has the value proposition of **"Watch anywhere. Cancel anytime".**
Netflix
36
57.-60. **Common mistakes** in a value proposition.
- communicating without clarity - exaggerating the truth - relying solely on ideas - using stilted language
37
61. Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"To help businesses grow better."**
Mission statement
38
62. Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"Only offers organic, locally sourced food to its customers."**
Positioning statement
39
Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"Think Different."**
Tagline
40
64. Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"The best experiences. Only on Apple."**
Value proposition
41
Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"Open a Coke, open happiness."**
Slogan
42
66. Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"Happiness to us is anything that can bring a smile to someone's face. We're in the business of spreading smiles and opening happiness every day all across the world."**
Value proposition
43
67. Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"Learn a language for free. Forever"**
Value proposition
44
68. Identify the statement if it is a slogan, tagline, value proposition, mission statement, or positioning statement. **"Skype keeps the world talking, for free. Share, message and call - now with group video or with mobile and tablet too."**
Value proposition
45
69. Value propositions typically appear at the _______ of a landing page as a block of huge text.
top
46
70. The value proposition is **direct and appeals to the main factors** that influence a customer's decision.
Optimal
47
71.-72. Name the two main **components of the Value Proposition Canvas**.
Customer profile Value map
48
73.-75. What does the** Customer Profile section** of the canvas include?
Customer jobs Gains Pains
49
76.-78. What does the **Value Map section** of the canvas include?
Gain Creators Pain Relievers Products/Services
50
79. The Value Proposition Canvas helps **identify customer needs** and** design products or services to meet those needs**.
T?
51
80. **Customer jobs **refer to the tasks and **activities that customers want to accomplish** or solve.
T?
52
The Value Proposition Canvas can be used for both** B2C (business-to-consumer) **and **B2B (business-to-business)** markets.
T?
53
82. The Value Proposition Canvas helps in **aligning the value proposition with customer needs and desires**.
T?
54
83. The Value Proposition Canvas is **not a static** tool. It requires regular revisiting and **updating to stay relevant.**
T?
55
84. Customer pains represent the **negative experiences or challenges** that customers face.
T
56
85. Understanding **customer pains and gains** is crucial for developing a **compelling value proposition.**
T
57
86. What is the **purpose of the Value Proposition Canvas?**
A. To identify customer needs and pains
58
87. What are the **two main components** of the Value Proposition Canvas?
B. Customer Profile and Value Map
59
88. What does the **Customer Profile** section of the canvas include?
A. Customer demographics and psychographics
60
89. What does the **Value Map section** of the canvas include?
C. Value propositions and channels
61
90. How does the **Value Proposition Canvas** help identify customer needs?
C. By understanding customer jobs and pains
62
91. What is the difference between **customer jobs and customer gains**?
A.** Jobs** refer to tasks customers **want to accomplish**, while** gains **are the **positive outcomes they seek.**
63
92. What are **customer pains?**
A. Negative experiences or challenges customers face
64
93. How can you identify customer pains and gains?
A. Conducting customer **surveys and interviews** B. Analyzing **competitor offerings** C. Observing **customer behaviors**
65
94. What are the **primary benefits** of using the ***Value Proposition Canvas?***
A. Improved **customer segmentation** B. Increased **customer loyalty** C. Enhanced **product development**
66
95. How does the **Value Proposition Canvas** complement the **Business Model Canvas**?
B. It adds a** customer-focused perspective** to the Business Model Canvas
67
96. Can the **Value Proposition Canvas** be used for both **products and services**?
A. Yes, it is applicable to both products and services
68
97. What role does **customer feedback** play in refining the value proposition?
B. Customer feedback helps identify **areas for improvement**
69
98. How can you differentiate your **value proposition from competitors?**
B. By providing **superior customer service**
70
99. How can you prioritize and focus on the **most important customer needs**?
D. By conducting **market research and analysis**
71
100. How often should you **revisit and update** your value proposition?
C. Whenever there are **significant changes** in the market

Technopreneurship Midterms (11 decks)

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