Value proposition and Target Market
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1.pptxHow your product solves customers' problems or improves their situation (relevancy)
Delivers specific benefits (quantified value)
Tells the ideal customer why they should buy from you and not from the competition (unique differentiation)
Value Proposition
Types of Customer Problems
Functional: issues performing/completing a specific task
Social: problems w/ perception. i.e. looking good or gaining power
Emotional: seeking a specific feeling like feeling good or secure
Purchasing: comparing offers, deciding which products to buy, performing a purchase or taking delivery of a product or service
Transferring: things like product disposal, transfer or resell
Market Segments
Share a common interest
Have “access” to each other and
Who look to one another as a trusted reference.
Why market segmentation is important?
Word of mouth regarding products works best among those who share a need and a means to communicate a solution.
“Access to each other” indicates a common methodology to reach them.
Indirect knowledge (e.g., PR, testimonials, etc.) of like individuals buying a product is a powerful influence.
Early Adopters:
They have the problem you’re trying to solve
They know they have it and
ARE actively seeking solutions
Early Majority:
Have the problem you’re trying to solve
Know they have the problem
Aren’t actively looking for solutions
Target Market: A particular group of consumers at which a product or service is aimed.
Demographics
Age
Location
Gender
Income level
Education level
Marital or family status
Occupation
Ethnic background
Psychographics
Personality
Attitudes
Values
Interests/hobbies
Lifestyles
Behavior
- Need to satisfy
Task to perform
Problem to solve
Negative emotions
Undesired costs
Undesired situations
Before, during and/or after job
Benefits customer expects, desires or would be surprised by
includes utility, social gains, positive emotions and cost savings
- Delivered to your home
- Proven recipe
-all Ingredients pre-portioned
Fresh and healthy recipes
Meal Kits
- Delivered to home
Includes all ingredients portioned out
Comes with instructions
Chef/professional tested recipes
-Quality time with family
- Eat Dinner
-Satiated by meal
Happy family members
Feel good about eating at home
Value for money
Spent
-Not enough time to plan and shop
Not having all ingredients ready
Eating unhealthy
PeachDish
-Fear of trying new recipes and messing up meal
Spending too much
- Low time investment
Professional, women, married or partner, children, health conscious, limited time
Feel good about quality of food
‘Customer Jobs’ you gather all the customer needs, the problems that they are trying to solve and the tasks they are trying to perform or complete.
‘Customer Jobs’ you gather all the customer needs, the problems that they are trying to solve and the tasks they are trying to perform or complete.
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