The value-in-use assessment process begins with the selection of a reference product,usually the product the customer is currently using or a major competitor's product.

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The statement is true. The value-in-use assessment process does indeed begin with the selection of a reference product, usually the one the customer is currently using or a major competitor's product. This reference product is used as a benchmark for comparing the value of the proposed product or solution.

The Value-In-Use Assessment Process Begins with the Selection of a Reference