Value Proposition

Companies address their customers through their value proposition, which is the totality of the benefits offered to satisfy customer needs and wants. The product or service will only be successful if it delivers value and satisfies the target customer. In other words, the value proposition is more than just the core positioning of the product or service; it represents the whole set of benefits that a company promises to deliver. Accordingly, astute product or service positioning will result in a successful customer-focused value proposition (i.e., a clear reason why the target customers should buy the offering) (Kotler & Keller, 2015).

References

Kotler, P. & Keller, K. L. (2015). Marketing management (15th ed.). Upper Saddle River, NJ: Pearson.

Resources