3. In determining the value proposition, the best situation is when a firm\'s pr

Question

3. In determining the value proposition, the best situation is when a firm's product offering O does not overlap with either customer needs or competitors' offerings overlaps with competitors' offerings but does not overlap with customer needs O overlaps with customer needs without overlapping with competitors offerings O overlaps with customer needs and competitors' offerings 4. Which of the following is NOT a key element needed to develop and communicate a firm's value proposition? O O O Target market Competition Unique point of difference Offering name Part 6 o o-o-o-o-

Explanation / Answer

3. when considering the successful value proposition, the best situation is when the firm's product or service offerings overlap with the needs and wants of the customer, at the same time these should not overlap with the competitors offerings. If there is an overlap with the competitor offering then the competitive advantage will become lower which can impact the value proposition of the offerings.

Hence the answer is C.

4. For developing and communicating the firm's value proposition the target market and its characteristics are very important. Similarly the name of the product is the identification for generating value. The unique point of difference will make the target market to differentiate its value from other products. But competition is not needed to communicate the vlaue proposition of a product or service

Hence the answer is competition.

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