Knowledge quiz

It's time to put what you've learned to the test, get 8 right to pass this week.

Which of the following terms describe the elements of your value proposition?

There are two correct answers.

Common value proposition

Value map

Unique value proposition

Competitors value proposition

Customer requirements

How do you perform a competitor analysis?

There are three correct answers.

Use tools for external analysis of your competitor’s value proposition such as the Value Proposition Canvas, or the Business Model Canvas.

Use tools showing your competitor’s performance in markets not targeted by you.

Interview users of competitor products to understand competitor’s value proposition.

Imagine a world without your competitor and develop a strategy to be successful in it.

Analyze your competitors benchmarking in the market.

Who can you consider your competitor?

There are three correct answers.

Members of your own industry sector offering similar solutions

Start–ups rising in your location

Substitute solutions designed to solve similar problems

Experienced employees at customer side

Solution providers who are addressing the jobs-to-be-done of the costumer

Which are the basic frameworks used in this week to analyze and improve the value proposition to your customer segments?

There are two correct answers.

Value Proposition Canvas

Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis

Job-to-be-done framework

Customer journey

What is the function of the common value proposition?

Choose the correct answer.

To ensure the minimum value a product must bring to be able to compete

To mirror the common understanding of the product´s value

To summarize all unique value propositions

To build trust at the competitor side

Shall you strive to compete in all aspects of a competitor’s offering?

There are two correct answers.

No, identify which aspects are most important to the targeted customer segment, and where you can perform very well on.

Yes, you can only be successful if you copy your competitor’s product.

No, strive to deliver new aspects to the customer covering gains or pains, which the competitors have not thought of.

No, if your competitors already won the customer, leave the field to them.

Why should you dive deeper in the customer needs and look for gains and pains per customer segment?

There are two correct answers.

To understand what would motivate a customer to buy the product

To find a value proposition fitting all customer segments

To find the insights which help us strengthen our value proposition

To understand the competitors’ products

To have synergies between the different customer segments

For whom should you be delivering a valid value proposition?

Choose the correct answer.

For at least one specific customer segment

For all customers segments your competitor is targeting

For all customer segments in your industry

For only one customer segment in a business model

10.

Why should you look for the job-to-be done beyond the obvious functional tasks your customer is trying to execute?

Choose the correct answer.

Because emotional and social tasks influence customer behavior as well.

Because speed of outcome is the highest priority for customers.

Because customers will not be interested in functional tasks.

Because buyers are only influenced by one functional task.

Knowledge quiz

Which of the following terms describe the elements of your value proposition?

How do you perform a competitor analysis?

Who can you consider your competitor?

Which are the basic frameworks used in this week to analyze and improve the value proposition to your customer segments?

What is the function of the common value proposition?

Shall you strive to compete in all aspects of a competitor’s offering?

Why should you dive deeper in the customer needs and look for gains and pains per customer segment?

For whom should you be delivering a valid value proposition?

Which are the elements of a customer profile?

Why should you look for the job-to-be done beyond the obvious functional tasks your customer is trying to execute?