Value Propositions

A value proposition: It's a clear statement about the tangible business results customers get from using your product, service or solution. (source: Jill Konrath)

Jill Konrath has created a "Value Prop Generator" that you will find useful in crafting a clear value proposition.

Another useful definition of a value proposition is “a believable collection of the most persuasive reasons people should notice you and take the action you’re asking for.” (source: Kissmetrics blog)

For the startup company (as opposed to the growth company), much more customer research is necessary to craft a value proposition. A recently published book provides a process for this:

Related to this process are the following resources:

• A Value Proposition Canvas
• Video Introduction to the Value Proposition Canvas
• A Guide from MaRS
• A Workbook from Applied Marketing Inc

Starbucks vs Dunkin Donuts - Lessons in Segmentation

As we discussed in class, these two companies are mostly non-competitive as they service different segments of the coffee drinker marketplace.

Here is an article with a summary of how their customers differ.

And here are some interesting infographics:

for more details on the socialgraphic differences, see this article.