Final answer:
The value proposition refers to the value that a company offers to its customers, encompassing both perceived and actual value.
Step-by-step explanation:
The value proposition refers to the value that a company offers to its customers. It includes both the perceived value to the customer and the actual value delivered to the customer.
Perceived value is the customer's perception of the benefits and advantages they will gain from a product or service. Actual value is the tangible and measurable benefits that customers receive from a product or service.
For example, a company may have a value proposition that emphasizes the convenience, speed, and quality of their product, which is the perceived value to the customers. At the same time, the company may benefit from increased sales and customer loyalty, which is the actual value for the company.