Value propositionIn marketing, a company’s value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers (i.e., a market segment) who will buy their products and/or services. It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in the market. A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services. Creating a value proposition is a part of the overall business strategy of a company.
Resource-based viewThe resource-based view (RBV) is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage. Barney's 1991 article "Firm Resources and Sustained Competitive Advantage" is widely cited as a pivotal work in the emergence of the resource-based view. However, some scholars argue that there was evidence for a fragmentary resource-based theory from the 1930s.
PropositionA proposition is a central concept in the philosophy of language, semantics, logic, and related fields, often characterized as the primary bearer of truth or falsity. Propositions are also often characterized as being the kind of thing that declarative sentences denote. For instance the sentence "The sky is blue" denotes the proposition that the sky is blue. However, crucially, propositions are not themselves linguistic expressions.
Comparative advantageIn an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comparative advantage describes the economic reality of the work gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress.
Free marketIn economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations.
Product differentiationIn economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as from a firm's other products. The concept was proposed by Edward Chamberlin in his 1933 book, The Theory of Monopolistic Competition. Firms have different resource endowments that enable them to construct specific competitive advantages over competitors.
Military strategyMilitary strategy is a set of ideas implemented by military organizations to pursue desired strategic goals. Derived from the Greek word strategos, the term strategy, when first used during the 18th century, was seen in its narrow sense as the "art of the general", or "the art of arrangement" of troops. and deals with the planning and conduct of campaigns, the movement and disposition of forces, and the deception of the enemy. The father of Western modern strategic studies, Carl von Clausewitz (1780–1831), defined military strategy as "the employment of battles to gain the end of war.
Truth valueIn logic and mathematics, a truth value, sometimes called a logical value, is a value indicating the relation of a proposition to truth, which in classical logic has only two possible values (true or false). In some programming languages, any expression can be evaluated in a context that expects a Boolean data type. Typically (though this varies by programming language) expressions like the number zero, the empty string, empty lists, and null evaluate to false, and strings with content (like "abc"), other numbers, and objects evaluate to true.
CompetitionCompetition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources.
New product developmentIn business and engineering, product development or new product development (PD or NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income.
Competitor analysisCompetitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling combines all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. Competitive analysis is an essential component of corporate strategy.
Product managerA product manager (PM) is a professional role that is responsible for the development of products for an organization, known as the practice of product management. Product managers own the product strategy behind a product (physical or digital), specify its functional requirements, and manage feature releases. Product managers coordinate work done by many other functions (like software engineers, data scientists, and product designers), and are ultimately responsible for product outcomes.
