Value proposition design for innovation and continuous improvements
Designing your value proposition is the base for developing new or improved products and services. Before tackling new value proposition design it is essential to have customer insights, a good understanding of problems on the market as well as current trends and innovations. The key focus while completing your value proposition is to focus on customer needs!
The definition of value proposition is…
“Describes the benefits customers can expect from your products and services”, and “summarizes why a customer should buy your offering”.
The value proposition is to be built step by step: For what segment(s) are your products and services? What are typical target customers? What are the benefits offered? How are the benefits unique to competition? How can you price based on value delivered?
The benefits identified should respond to the question “So what?”. Customers shall immediately understand the value in it for them.
The Value Proposition Design method from Strategyzer AG is an excellent tool to execute your innovation or improvement of products and services. The Value Proposition Canvas visualizes the customer profile and the value map.
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