What is meant by a value proposition?
Answer and explanation
Correct answer: The benefit a product or service gives to customers
A value proposition clearly communicates the main benefit or value a product or service promises to deliver to a target customer and why it may be preferable to alternatives. It should be linked to a real need, not merely a feature or arbitrary price. Therefore option A is correct; shop colour, leave time, and random pricing are not value propositions.
Frequently asked questions
What is the correct answer to this question?
The benefit a product or service gives to customers
Why is this the correct answer?
A value proposition clearly communicates the main benefit or value a product or service promises to deliver to a target customer and why it may be preferable to alternatives. It should be linked to a real need, not merely a feature or arbitrary price. Therefore option A is correct; shop colour, leave time, and random pricing are not value propositions.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
