Which of the following is necessary for an effective customer value proposition (CVP) ?

A) It must not have any direct competition.
B) It must offer better value than the competition.
C) It must cost less than the competition.
D) It must offer the exact same value as the competition.

Customer Value Proposition (CVP)

A business or marketing statement that describes why a customer should buy a product or use a service, focusing on the unique value the product or service provides.

Effective

Refers to something being successful in producing a desired or intended result.

Direct Competition

Occurs when businesses offer the same or similar products or services to the same customer base.