Building block $1$: Value proposition

The value proposition is the collection of products and services a business offers to meet the needs of its

customers. $($a business's value proposition distinguishes itself from competitors$)$

Focus on:

What value do we deliver to the customer?

Which one of our customer's problems are we helping to solve?

Which customer needs are we satisfying?

What bundles of products and services are we offering to each customer segment?

Is your value proposition one or more of the following?

Newness: Satisfying a new set of needs that customers previously didn't perceive because there was

no similar offering $($Smartphones$,$ iPads$)$

Performance: Improving product or service performance $($iPhone $5$ to iPhone $6)$

Customization: Tailoring products and services to the specific needs of individual customers or

customer segments $($Dressmakers$)$

Getting the job done: Helping a customer get specific jobs done

Design: A product may stand out because of superior design $($BMW$,$ Mercedes, iPhone$)$

Brand$/$status: Using and displaying a specific brand $($Rolex watch $=$ wealth$)$

Price: Offering a similar value at a lower price $($Samsung S$5$ compared to Samsung S$5$ Mini$)$

Cost reduction: Helping customers to reduce costs

Risk reduction: Customers value reducing risks when purchasing products or services $($Extended

warranties$)$

Accessibility: Making products or services available to customers who previously lacked access to

them $($Importing products from international markets and making them available in South Africa$)$

Convenience$/$Usability: Making things more convenient or more straightforward to use $($Smartphone

apps$)$

NB$!!!$ Not all of the abovementioned value propositions will apply to your product $-$ you need to decide on

the one$/$s that is applicable!!! based on above question Checkers $60$sixty or Pick $$n Pay ASAP.