Asked by Flora Gbogi Emmanuel on Jun 13, 2024
Verified
A ________ is a graphical representation of the ratio between a product's benefits and costs.
A) data mine
B) value map
C) fair value matrix
D) customer data graph
Value Map
A visual tool used to compare the value propositions of different products or services in the market, analyzing factors such as price, quality, and performance.
- Grasp the concept and utility of a value map in assessing and strategizing product offerings.
Verified Answer
KH
Kallie HoverJun 14, 2024
Final Answer :
B
Explanation :
A value map is a graphical representation of the ratio between a product's benefits and costs. It helps in identifying areas of improvement for the product and making informed decisions about pricing and marketing strategies. Data mine refers to the process of extracting patterns and knowledge from large datasets. Fair value matrix is not a commonly used term, and customer data graph does not specifically relate to the ratio between a product's benefits and costs.
Learning Objectives
- Grasp the concept and utility of a value map in assessing and strategizing product offerings.
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