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Why do we Need a Value Proposition? (Part III)

Please read Part I and Part II for background information before reading Part III.

VP for Service Businesses

A service is the action of doing something for someone, or an entity. It is largely intangible (i.e. not material). A product is tangible (i.e. material) since you can touch it and own it. A service […]

Why do we Need a Value Proposition? (Part II)

Please read Part I for background information prior to reading Part II.

Value-Factors

Details of the needs and wants of customers in any segment should be clearly understood as should their decision-making process structures. This data should be obtained by individual interviews, or by focus group studies, or other means. Remember that the VP […]

Why do we Need a Value Proposition? (Part I)

Introduction

The idea and the concept of a Value Proposition (VP) has been around for some time (really since Adam Smith, but formally since the early 1960s) but its importance to a business, and to an individual, has become blurred by misunderstanding; by misapplying it, by getting it mixed up with positioning statements, etc. Not […]