6/24/2015

ValuePropositionTemplate:BuildingyourBrand'sSuccess!

Value Proposition Template: Building your Brands Success!

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The value proposition of a company is the foundation on

which its marketing strategy is based on; it presents all the
benefits and values that the business promises to deliver to
its customers. For example the value proposition of Red Bull
energy drink is to fight mental and physical fatigue. The
company brand tagline goes It gives you wings and surely it
does! With this innovative marketing strategy and value
proposition, Red Bull has covered 70% of the energy drinks
market share. Value propositions differentiate one brand
from another and are crucial to your product
imageamongyour target customers. Value propositions

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must bedesigned carefully to give your product or service an

edge over your competitors brands. If you are a marketing strategist, business analyst or owner of a small

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business, you should take

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this course to learn how to create a compelling value

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In this article will help you understand the importance of value proposition and how to create a strong value
proposition statement.

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What is Value Proposition?

Value proposition presents the complete positioning of your brand in the customers mind and is the answer to

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which product marketing strategy and brand positioning is built on. It helps you describe your product vision,

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benefits and values that your business promises to deliver.

guide

A value proposition must be carefully crafted in a simple statement to address three main points of your business:

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their question Why should I buy your product or service? It is the core of a business model and the basis on

1. Whoare your target customers?

2. Whyshould the customer buy your brand?
3. Whatare you delivering?

For an in-depth understanding on formulating a value proposition, take our

course on design value proposition.The value proposition is the sum total of the essence of your
business value and must reflect a clear and compelling message to your customers. Lets look at how to create a
strong value proposition that is specific and targeted effectively.

How to Create a Strong Value Proposition?

With the help of a strong value proposition, you can determine how and to what extent your business will bring in
profits and how you will reach out to your customers and build their confidence in your offerings. While writing a
value proposition, keep in mind the following points that are the key to the success of your value proposition:
Understand Value Proposition Creation
There are several types of value propositions that you can build based on pricing and benefits. Kotler and

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Armstrong, in the twelfth edition of their bookPrinciples of Marketingdescribe the concepts of the five winning
value propositions more for more, more for the same, the same for less, less for much less and more for less! A
classic example of a more for more value proposition is the case of Starbucks coffee. They entered the market as
the most expensive brand but their product quality was second to none. The perfect cup of coffee that we
enjoyed along with the amazing aroma of the coffee beans in their friendly little shops, is a testimony of their
success. This

course takes a unique approach to show you innovate ways to value

creation.
Know Your Target Customers
After youve understood your brand value proposition, its time to find out its acceptability in your consumers
mind. Its important to know what segments of the market will use your product, how your customer will perceive
the benefits of the brand, how effective is your positioning statement and how well you can differentiate your
product from other similar brands.Get

more insights on understanding your target

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product from other similar brands.Get

ValuePropositionTemplate:BuildingyourBrand'sSuccess!

more insights on understanding your target

audience with this special course.

Describe Your Product Vision
Product vision helps to clearly state the deliverables and benefits that your brand promises to your customers.
You must decide on which segments of the market you will concentrate and what your positioning strategy will
be. Southwest Airlines positioned itself clearly as a no-frills, low-price airline that had a vision to provide quality
flying experience at rock-bottom prices. Customers dont mind the absence of amenities like meals or first-class
cabins; they enjoy the low cost on-time travel and the services from the cheerful employees, who go out of their
way to surprise and entertain their passengers. Their product vision and implementation has made Southwest
Airlines the most profitable air carrier in the United States. This

course can help you to similarly

build a strong brand.

Test the Minimum Viable Product
Test the effectiveness of your product by testing the minimum viable product with the help of a small group of
customers, called early adopters. They will try to understand the product, its vision and benefits; they will give
you valuable feedback that can help you in important processes like idea generation, presentation, market
analysis and learning.
Create Your Value Proposition Statement
Once you have defined, evaluated and measured your value proposition process, its time to build your value
proposition statement. As explained earlier, the statement must be simple and clearly defined; it must answer
questions like who are your target customers, why should they buy your brand and what you plan to sell.

Value Proposition Template

A good value proposition statement is built on the below fundamental framework:
For ( the target customer)
Who (specific needs, demands, buying criteria etc.)
We provide (solution name / brand description)
That ( specifies benefits and business values to clients)
Unlike (the competition)
Who ( provide solution, features, functions, benefits)
Our company (better approach, solution, functions, benefits)
That (offers a better customer experience)
So, whether you are the owner of a small or medium business, an entrepreneur or a marketing strategist, its
important to develop a strong value proposition statement thats the building block to your brand success!

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