Product Value Proposition describes how a product helps the consumer solve a problem. It brings focus to the target consumer and guides a company during product development, brand design and marketing.
Many companies start out with a Value Proposition Statement which answers:
Who is the target consumer?
What problem they need to solve?
How does the product help solve the consumers problem?
Why would the consumer choose the product over others?
A Value Proposition Statement can be structured in different ways.
Example:
The (product) helps (target consumer description) solve (consumer need or problem) by offering (product benefits), and is better than the competition because (how product is unique or superior to the marketplace).
The Value Proposition Canvas helps brand owners view customer needs in more detail and how they align with product benefits.
Attached is an example of a Value Proposition Canvas template created by the Venturepark Labs with sample content for a consumer packaged good. The Value Proposition Canvas is built first from the view of customer, then the product. A company would build a different VPC for different customer types (example: retailer customer and final product consumers).
For more info and a downloadable template visit: https://www.strategyzer.com/canvas
Written By: Venturepark Labs