Value Proposition two

Question 1

He developed the Value Proposition Canvas

Answer 1

Dr. alexander osterwalder

Question 2

It is used to improve an existing service or product, or a new market idea is made or being developed

Answer 2

Value proposition canvas

Question 3

This profile describes a specific customer segment in a business model in a organized and detailed way

Answer 3

Customer

Question 4

Describes a thing your customers are trying to get done in their or work or life.

Answer 4

Jobs

Question 5

The customer profile can be broken down into three categories. Enumerate them alphabetically

Answer 5

Gains
Jobs
Pains

Question 6

Job when customers perform a specific task or solve a specific problem. Examples of this is writing a report, washing
the dishes, doing the laundry.

Answer 6

Functional

Question 7

Job when customers want to look good, gain status, or gain power. It focuses on how a customer wants to be viewed by
others. An example of this is looking trendy with a new output or being a confident person.

Answer 7

Social

Question 8

. Job when customer looks for a specific emotional state, such as finding peace with past trauma or feeling secure in a
relationship

Answer 8

Personal/Emotional

Question 9

There also exists another type of customer job that customer performs in the context of purchasing and consuming value
as a professional or as a consumer known as.

Answer 9

Supporting

Question 10

Pertains to job that is related purchasing a value, such as deciding what skincare products to use, what package is suited
best for needs.

Answer 10

Buyer of value

Question 11

Pertains to the job that is related to cocreate value with an individual’s organization. It could be by posting product
reviews or giving or co-designing a product or service.

Answer 11

Cocreator of value

Question 12

Pertains to job that is related to the end value of a proposition’s life cycle such as selling used clothes, cancelling a
subscription, or giving a product to others

Answer 12

Transferrer of value

Question 13

Describes what annoys, angers, or upsets your customer before, during, or after getting a job done

Answer 13

Customer pain

Question 14

Enumerate alphabetically, types of pain under undesired outcomes, problems, and characteristics.

Answer 14

Functional
Social
Emotional
Ancillary

Question 15

These are the things that hinder a customer from doing a job.

Answer 15

Obstacles

Question 16

Shows what is at stake when things go wrong and what are its negative consequences

Answer 16

Risks

Question 17

Describe the benefits that the customer wants. It can be required, expected, or desired by customers, and maybe some
would surprise them.

Answer 17

Customer gains

Question 18

This includes functional utility, social gains, positive emotions, and cost saving.

Answer 18

Gains

Question 19

Name the four main types of customer gains, alphabetically.

Answer 19

Desired
Expected
Required
Unexpected

Question 20

These are manufactured products

Answer 20

Physical

Question 21

This includes products such as copyrights or services such as aftersales assistance.

Answer 21

Tangible

Question 22

This includes products or services that can be used through a digital platform.

Answer 22

Digital

Question 23

. This includes products or services such as investment funds, insurances or services such as purchase financing.

Answer 23

Financial

Question 24

This describes how precisely goods and services alleviate customer pains.

Answer 24

Pain relievers

Question 25

This explains how products and services lead to customer gains.

Answer 25

Gain creators

Question 26

takes place when there is evidence that customers care about certain jobs, gains, and pains, and a value proposition is designed to address those jobs, gains, and pains. In this stage there is no evidence that customer that customers care about a value proposition.

Answer 26

Problem solution fit

Question 27

take place when there is evidence that products and services, pain relievers, and gain creators is starting to create customer value and attraction in the market. In this stage assumptions in the value proposition is being validated or invalidated.

Answer 27

Product market fit

Question 28

Takes place when there is evidence that the value proposition can be embedded in a profitable and scalable business model

Answer 28

Business model fit

Question 29

Value proposition allows target market and potential customers can quickly understand what your business has to offer. T/F

Answer 29

T

Question 30

Business models attract the right prospects and stagnate the quantity and quality of prospective leads. T/F

Answer 30

F

Question 31

Value proposition provides clarity of messaging T/F

Answer 31

T

Question 32

A company’s value proposition should satisfy the question of customers and communicate clearly why they have the right product or services for the needs of its customers. T/F

Answer 32

T

Question 33

A clear, simple statement of the benefits, both tangible and intangible, that the company will provide, along with the approximate price it will charge each customer segment for those benefits

Answer 33

Value proposition

Question 34

The term "value proposition" first appeared in a staff paper for

Answer 34

McKinsey and company’s consulting firms, McKinsey and company

Question 35

When was the term "value proposition" first appeared?

Answer 35

1988

Question 36

They firstly defined value proposition. Answer alphabetically

Answer 36

Edward michaels Michael lanning

Question 37

An assurance of value made by a company that summarizes how the benefit of the company's product or service will be delivered, experienced, and acquired.

Answer 37

Value proposition

Question 38

The value proposition is typically directed at the company's _________ or _________. Answer alphabetically.

Answer 38

Market segment Target customers

Question 39

We need to focus on where our cashflow comes from, and double down on segments who are happy to pay for our services

Answer 39

Confusing supporters with customers

Question 40

We’re not just looking for problems our customers encounter, but problems that are worth solving ahead of all others

Answer 40

Solving low value problems

Question 41

But that appetite is quickly satisfied, whereas our appetite for self-interest is harder to suppress

Answer 41

Appealing to charity, not self-interest

Question 42

This limits our innovation, it’s sometimes much easier to find new customers than it is to invent new services.

Answer 42

Locking in your customer profile too early

Question 43

. You’d need to be convinced that this new option is significantly better that what you’ve already got

Answer 43

Designing something “as good” as the competition

Question 44

If we focus too much on why this business helps people, we lose sight of the real goal which is making sales and thereby perpetually funding our mission.

Answer 44

. Solving problems for beneficiaries, not customers

Question 45

We need to think creatively to list all the customers who are worth investigating, not to be creative in making them up.

Answer 45

Inventing customers to suit products

Question 46

There are more unsophisticated buyers who have little to no knowledge in the industry

Answer 46

Assuming customers are sophisticated buyers

Question 47

A few stunning reasons are more valuable than twenty side benefits, and it makes the concept much clearer

Answer 47

Clogging the canvas with “nice to haves”

Question 48

Objective-based value that exists within the product and is unaffected by market conditions.

Answer 48

Intrinsic

Question 49

Value is viewed as the result of a personal comparison of sacrifices and benefits, with the outcome being essentially utilitarian in nature

Answer 49

Utilitarian

Question 50

Subjective and is perceived by individuals as they evaluate the product during or immediately after use.

Answer 50

Use value

Question 51

It is linked to the benefits that individuals derive from using the product

Answer 51

Use value

Question 52

Refers to the point at which intrinsic and/or use value are weighed against the sacrifice made in order to experience those forms of value.

Answer 52

Utilitarian value

Question 53

An object-based but it is influenced by market conditions.

Answer 53

Exchange value

Question 54

He proposes that "Value is neither use nor exchange; it is neither object-based, nor subject-based; it is neither my view, nor your view, it is all of these things"

Answer 54

Woodall

Question 55

Essentially specifies what makes a company's product or service appealing, why a customer should buy it, and how the value of the product or service differs from similar offerings.

Answer 55

Value proposition

Question 56

The ideal proposition must convey the values to potential customers quickly and without the need for further explanation. T/F

Answer 56

T

Question 57

Each proposition must be unique, as it is a method to communicate the differentiation points of a company to the target customers. T/F

Answer 57

T

Question 58

The major challenge in starting a new business is creating the desirable value propositions that offers compelling statements of promises to the customers. T/F

Answer 58

T

Question 59

. A supporter is someone who pays you. A customer is someone who likes your brand and your story. T/F

Answer 59

F

Question 60

Unsophisticated buyers know what can/can’t be promised and speak your industry’s language. T/F

Answer 60

F

Question 61

We need to discover customers, not fabricate them. T/F

Answer 61

T

Question 62

Justify keeping the “nice to haves” and removing the “must have”. T/F

Answer 62

F

Question 63

When people analyze the intrinsic product characteristics prior to or during use, they arrive at this objective value assessment. T/F

Answer 63

T

Question 64

All objects have "qualities," but if a quality is not valued, it will not remain as a quality T/F

Answer 64

F

Question 65

The utilitarian approach seeks to balance "all the good and the bad. “The utilitarian approach seeks to balance "all the good and the bad". T/F

Answer 65

T

Question 66

. Its aim is to resonate with the emotional side of customers and create a connection that cultivates a lasting brand loyalty.

Answer 66

Customer connecttion

Question 67

It is crucial for a company to provide a definite response to the inquiry of why their potential customers should opt for their products instead of other options in the market.

Answer 67

Specific value

Question 68

According to this element of value proposition, it is essential for a business to have a precise understanding of its preferred customer and modify its value proposition accordingly to attract that customer.

Answer 68

Target market

Question 69

List the characteristics of value proposition alphabetically

Answer 69

Alignment Applicability Convergence Distinctiveness Embedded in business models, Embedded in business model Focus Performance Prioritizing Targeting Uniqueness

Question 70

It describes a specific customer segment in a business model in an organized and detailed way.

Answer 70

Customer profile

Question 71

It is simply describing what the customers need to accomplish in their work or lives, which are expressed on their own words

Answer 71

Customer jobs

Question 72

Customer pain can be measured from moderate to extreme as it also varies from customer to customer on how they feel the magnitude of their pain.

Answer 72

Pain severity

Question 73

Just like pain severity, customer gain can be gauged from nice to have too essential.

Answer 73

Gain relevance

Question 74

It describes features of a specific value proposition in a business model in an organized and detailed way.

Answer 74

Value proposition map

Question 75

A value proposition that is specific and targeted enables businesses to clearly communicate how their product or service can solve the customer's problem and fulfill their need T/F

Answer 75

T

Question 76

By understanding the customer's needs and tailoring the value proposition accordingly, businesses can build trust and establish long-term relationships with their customers, leading to increased customer retention and brand loyalty.T/F

Answer 76

T

Question 77

The effectiveness of the product or service and its capacity to produce outcomes that satisfy the needs of the consumer must be demonstrated in a value proposition. T/F

Answer 77

T

Question 78

A value proposition must align with the overall brand image and messaging of the business. 98. By ensuring that the value proposition converges with the brand's core values and messaging, T/F

Answer 78

T

Question 79

An effective value proposition shouldn't showcase the distinctive features and benefits of the product or service, setting it apart from the competition and communicating its unique value proposition. T/F

Answer 79

F

Question 80

A value proposition should highlight the unique disadvantages and selling points of a product or service to differentiate it from competitors. T/F

Answer 80

F