A toy company wants to create a product/market fit hypothesis for a new toy. Which element of the hypothesis involves writing a statement explaining what the new toy does and how it is different from the competition? Identify underserved customer needs Value proposition UX Determine the target customer

The element of the hypothesis that involves writing a statement explaining what the new toy does and how it is different from the competition is the "Value Proposition." The value proposition is a concise statement that explains the unique benefits and value that the product or service provides to the customer. It should clearly articulate what the product does and how it is different from the competition.