What is Value Proposition?
Value Proposition is the set of benefits a company offers to its customers. It answers the question “so what?” and describes why someone should buy your product instead of a competitor’s.
What Determines a Company’s Value Proposition?
The value of a product or service, in direct contrast to the cost, is what makes it more desirable than something that costs more but provides less. In other words, the value of something can be determined by how much it’s worth to consumers.
Some businesses have a hard time articulating their value propositions because they are either not making any promises or are making too many promises, resulting in customer confusion. In order to be memorable, you should be clear about the offer you want to make and what you want people to do about it.
As a company or person, you need to identify who your target market is and what problem is it that you are going to solve for them. This can be done through researching and understanding the needs of these people (their challenges) and then offering a solution that caters to their needs.