Lesson 3

Question 1

statement that describes the unique benefits that a product or service offers to its customers

Answer 1

value proposition

Question 2

helps to differentiate oneself from other players in the market
helps to attract and retain customers, increase sales, and lead to venture success
helps to attract investors and other stakeholders

Answer 2

Value proposition

Question 3

Purpose of value proposition

Answer 3

communicate the unique benefits that a product or service provides to its customers

should explain how it solves a problem or meets a need that the customer has

Question 4

Kinds of value proposition

Answer 4

cost-based value proposition
benefit-based value proposition
quality based
service based

Question 5

Elements of Value proposition

Answer 5

customer segment
value differentiation
benefit statement
proof
communication

Question 6

Difference of value proposition in technopreneurship

Answer 6

-emphasis on innovation
-rapidly changing market
-need for scalability

Question 7

Challenges of creating value proposition in technopreneurship

Answer 7

-Lack of customer understanding
-limited resource
-competition

Question 8

best practices for creating value proposition in technopreneurship

Answer 8

-focus on customers
-emphasize the benefits
-differentiate from competitors

Question 9

Impacts of value proposition to the success of a technopreneurial venture

Answer 9

-strong value proposition means success
-crucial to development
-standing out from the market

Question 10

Examples of successful technopreneurial ventures with strong value propositions

Answer 10

tesla inc.
airbnb inc.

Question 11

example of a company that failed due to a weak value proposition and unsustainable business model

Answer 11

juicero inc.