INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The cost of creating the product.
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A component of the business plan that identifies the target market for the product.
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The features and benefits that make the product or business unique.
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None of the above
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Detailed explanation-1: -A value proposition is a statement that clearly identifies the benefits a company’s products and services will deliver to its customers. A well-crafted value proposition will differentiate the company and/or its specific product or service in the marketplace and among a target market or target audience.
Detailed explanation-2: -A value proposition should clearly explain how a product fills a need, communicate the specifics of its added benefit, and state the reason why it’s better than similar products on the market. The ideal value proposition is to-the-point and appeals to a customer’s strongest decision-making drivers.
Detailed explanation-3: -Which statement is the best description of a value proposition? What is the main purpose of developing a business pitch? Correct Answer: To briefly share the most important info about your business to other people in an engaging way!
Detailed explanation-4: -Gives Direction. Creates Focus. Breeds Confidence. Improves Customer Understanding and Engagement. Provides Clarity of Messaging. Increases Effectiveness of Marketing.