Practical activity 3: Product Mgt Course: Creating your own value proposition

In this activity, you will practice writing a value proposition statement. This statement will be a starting point as you approach value proposition design for your chosen product. Ensure it is concise, clearly summarises the problem and solution on offer, and is compelling.

1. Review the insights you gathered and used throughout Week 2.
2. Complete the following questions to write your value proposition statement.
   • What is the problem you’re solving with the new product?
   • What is the unique differentiator about how you’re solving your problem?
   • How will this solution benefit your customer?
3. Combine your answers. Write your statement based on your answers to the previous questions. Remember to ask yourself: is your value proposition unique, specific, relevant, sustainable, and believable? It should be short and to the point (and ideally no more than 30 words long). Check that your statement:
   • identifies the problem and succinctly describes the solution to it
   • identifies the unique differentiator of the solution
   • makes it clear how your customer will benefit.
   For some inspiration, take a look at some more examples of business-to-business brands who got their value proposition right.
   • 2itesting: We deliver certainty through our bespoke framework AssureRMF, this enables you to accelerate your digital journey.
   • Weebly: Building a website has never been easier. It gives entrepreneurs all the tools they need to create a unique site without the need for any technical expertise.
   • Groovehq: Builds better customer experiences with Groove software – it delivers everything you need to convert, support, and delight your customers.
4. Post and submit your draft value proposition statement in the Comments section in the community or write into your book.