What term refers to a brief overview of a business stating its mission and value to customers?

Prepare for the ESBv2 Marketing Essentials Exam with our quiz featuring flashcards and multiple-choice questions. Boost your readiness with hints and explanations tailored for the ESBv2 experience.

The term that best captures a brief overview of a business, stating its mission and value to customers, is the vision and value proposition. This term emphasizes the core purpose of the business (vision) and outlines the unique benefits or value it offers to its customers (value proposition).

The vision reflects where the business aims to go or what it aspires to achieve in the long-term, while the value proposition directly communicates how the business meets customer needs and distinguishes itself in the market. Together, these elements create a holistic view that captures both the aspirations of the business and its practical offerings.

Other terms like strategic plan, business overview, and mission statement don't fully encapsulate the combination of both the mission (long-term goals) and the practical value offered to customers in a succinct manner as the vision and value proposition does. A strategic plan typically outlines specific actions to achieve business objectives, while a business overview might provide general information without diving deeply into mission and values. Although a mission statement communicates a business's purpose, it does not necessarily articulate the value offered to customers.

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