The Importance of Value Proposition
Gregory Coticchia, Carnegie Mellon University
Originally presented: July 26, 2018
Watch time: 56 minutes
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It’s not enough to have a good idea. In order to be successful, a product needs a value proposition to clearly answer the question “Why would someone be willing to purchase this product?” A value proposition is a clear statement that explains your product’s relevancy, quantified value, and unique differentiation. Communicating this persuasively is difficult though.
In this session you will learn to create a value proposition that answer the questions:
- How does your product solve customers’ problems?
- What specific benefits does your product deliver?
- How is your product different from competing ones and why should someone buy it?
A value proposition is a critical element of strategy, core to the business model, and the foundation from which your communication messages are created. The significance of the value proposition should not be underestimated and validating it with customers is a must-have. Getting feedback on your value proposition can help you avoid wasting time on ideas that won’t work – and that’s inVALUEable.