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You are a Product Owner for a product with a rapidly declining customer base. Despite data that indicates the decline is due to a shrinking market, rather than a lack of new features, an influential stakeholder insists on adding more features to attract new customers. The influential stakeholder also says that if you do not add new features you risk losing your most profitable customer. Which two of the following actions might you take? (choose the best two answers)
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Question 26 - PSPO-II discussion

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In order to justify the price increase of a product, your primary objective should be to:

(choose the best answer)

A.
Reduce the price for a period of time before increasing it above the original price.
Answers
A.
Reduce the price for a period of time before increasing it above the original price.
B.
Improve the value experienced by the customer.
Answers
B.
Improve the value experienced by the customer.
C.
Reduce the number of features to make the product easier to use.
Answers
C.
Reduce the number of features to make the product easier to use.
D.
Add more features to make the product more attractive.
Answers
D.
Add more features to make the product more attractive.
Suggested answer: B

Explanation:

According to the PSPO II resources, a product owner should optimize the value of the product and the work of the Scrum Team1.One way to do this is to improve the value experienced by the customer, which is the perception and evaluation of the product by the customer2.A price increase can be justified if the customer perceives that the product delivers more value than the cost3.This can be achieved by enhancing the product quality, functionality, usability, or design, or by providing additional benefits or services to the customer4. The other options are not effective ways to justify a price increase, as they may either reduce the value experienced by the customer, or increase the cost without increasing the value.Reference:

1:The Scrum Guide

2:User Experience

3:Value-Based Pricing

4:8 Techniques to Justify a Price Increase

:Justification for a Price Increase: Positioning For Success

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asked 23/09/2024
Srikar Gude
31 questions
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