In order for senior managers to determine who the company's customers are,where they are located,and what product or service characteristics the customers value,the managers must develop a statement of the fundamental benefits of the products or services being offered in the marketplace.What is this statement known as?
A)value proposition
B)vision statement
C)value statement
D)vision proposition

Question

Quizplus · Accepted Answer

A statement describing the fundamental benefits of a product or service and its value to the customer is known as a value proposition. It helps senior managers in understanding the company's customers, their location, and the characteristics they value in a product or service. A vision statement is a broad statement that outlines the company's future aspirations, while a value statement defines the core beliefs and principles that guide the company's decisions and actions. A vision proposition is not a recognized term.

In Order for Senior Managers to Determine Who the Company's