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Value proposition

Tracy Potila

Rasmussen College

Authors Note

This paper is being submitted on July 15, 2014, for Jeri Retzlaff’s B232/MAR2011 Section 06 Principles of Marketing course.

Value proposition

Value proposition is a marketing report that has details as to why a consumer should buy a product or use a service. Many companies use this statement to target customers who will benefit from using the company’s product and this help’s to maintain the economy. The concept of value proposition is simple to grasp and is much more than an internal tool. It is crucial that a business plan states the business concept and value proposition. In order to find a better value proposition to be able to understand every marketer and be ready to speak to the customers, understand their needs and speak the language that they easily understand (Barnes, Blake & Pinder, 2009).

An effective value proposition describes what an individual can do in his or her own business results. Such companies underestimate the importance of value proposition. It is imperative when developing a value proposition that is clear and concise. The importance of developing an effective value proposition is defined as a statement that gives a reason why a prospect should buy or leave his information with the company. Development of value proposition can be imperative to parents with students in private schools so as to save the effort for the increased cost of college fee.

In order to prepare a value proposition, one must understand the insight of what is unique about your product or service. Your existing customers should be your best resource to learn the value you offer. Be able to learn how your customers should get to define the value. Ask your customers to make you understand the real value of your offering and ask for a chance to learn their perspectives (Darby, 2006).

References

Darby, M. (2006). Alliance Brand: Fulfilling the Promise of Partnering. Chichester: John Wiley & Sons.

Barnes, C., Blake, H., & Pinder, D. (2009). Creating & delivering your value proposition: Managing customer experience for profit. London: Kogan Page.