Solve the Quiz below based on what you've learned.
Q1.Mark 'True' if the following statement is correct, and 'False' otherwise.
The ‘Right Value’ Involves the process of personalizing value that is to be delivered to meet the needs of customers.
Q2.Which of the options given below is the correct explanations for Product Value - Non Product Value - Brand Value respectively? (components of the "Right Value")
A. Our brand story that we wish to convey by communivating with customers
B. Intrinsic value of the product that is to be delivered to target customers
C. Benefits and experiences other than the product that is to be delivered to target customers
B-C-A
C-B-A
A-C-B
A-B-C
Q3.Choose from the options below the options that became possible with the digital age.
Repeated exposure of the same message Repeatedly exposing the identical product value to the mass audience
Providing personalized benefits Provide differentiated product values according to different needs/tastes/interests of customers
Communication that creates chemistry with customers Forming a connection genuine with potential customers that embodies the brand value through multiple touchpoints
One-way brand storytelling A one-way communication to deliver a standardized form and brand story through traditional media
Focus on product value Appealing to the target audience with a focus on the value of the product, such as its superior features
Combination of product & non-product values Delivering not only the intrinsic value of the product, but also functional and emotional values such as additional benefits and user-friendliness
Q4.Which of the options given correctly describes the right product value and non-product value, respectively required to deliver differentiated value to Owners in the CEJ?
Differentiated utility experienced while using a product, Services and benefits that accelerate conversion
Services and benefits the solidify lock-in, Services and benefits that accelerate conversion
Services and benefits that accelerate conversion, Services and benefits that enhance product value
Powerful product value that drives purchase decisions, Services and benefits that solidify lock-in
Differentiated utility experience while using a product, Services and benefits that solidify lock-in
Q5.Choose all options that correctly describes the function of a Non-Product Value.
Combine with Product Value to reinforce differentiated value
Reinforce the Functional Benefits based on product features
Reinforce the innate value of the product that appeals to a mass audience