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What aspect of a product or service does the "Golden Circle" consider most important to communicate to prospective Customers?
The Golden Circle is a framework developed by Simon Sinek that suggests that the most effective way to communicate a product or service to prospective customers is to start with the ''why'' - the core purpose, belief, or cause that drives an organization or individual. By explaining the ''why'' before the ''how'' (the strategies and methods) and the ''what'' (the products, services, or offerings), the communicator can inspire and connect with the customers on a deeper level, and differentiate themselves from the competitors who focus on the features or benefits of their products or services.
Why is it important for every business to allocate funding to investment horizon 3?
Investment horizon 3 is the longest-term horizon that focuses on exploring and developing breakthrough innovations that can create new markets and revenue streams for the business. It is important for every business to allocate funding to investment horizon 3, because it enables the business to anticipate and respond to the changing customer needs, technological trends, and competitive threats, and to secure its future growth and survival. Investment horizon 3 requires a high level of creativity, experimentation, and risk tolerance, but it can also generate a high level of return and differentiation.
Which horizon describes the desired state as stable solutions that deliver high value with minimal new investment?
What is one key component of Cost of Delay (CoD)?
Time criticality is one key component of Cost of Delay (CoD), which is the money or value that will be lost by delaying or not doing a job for a specific time period relative to other jobs. Time criticality reflects the urgency or sensitivity of a job to time, and how its value changes over time. For example, a job that has a fixed deadline, a seasonal demand, or a high risk of obsolescence has a high time criticality, and its CoD increases rapidly as time passes. A job that has a stable demand, a low risk of competition, or a long-term benefit has a low time criticality, and its CoD increases slowly or remains constant over time.
Which aspect of whole-product thinking captures a Customer's price sensitivity?
The expected product is the aspect of whole-product thinking that captures a Customer's price sensitivity. Whole-product thinking is a framework that helps to define and deliver a complete solution that meets the Customer's needs and expectations. Whole-product thinking consists of four levels: generic product, expected product, augmented product, and potential product. The expected product is the level that includes the basic features and benefits that the Customer expects from the product, and that determines the Customer's willingness to pay for the product. The expected product reflects the Customer's price sensitivity, which is the degree to which the Customer's behavior is influenced by the price of the product.
Customer Centricity - Scaled Agile Framework
Analysis of the Effects of Perceived Value, Price Sensitivity, Word-of ...
Pricing Sensitivity: Meaning, Calculation & Strategy | Qualtrics
Which aspect of whole-product thinking captures a Customer's price ...