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.
- Review the insights you gathered and used throughout Week 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?
- 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.
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- Post and submit your draft value proposition statement in the Comments section in the community or write into your book.
Background:A pharmaceutical industry that produces Fe-Med , a drug that relieves menstrual cramps
Value proposition : period pain can be annoying and may mess up your day.
Fe-Med is a new generation suppository that relieves menstrual pain.
With this drug , your period becomes seamless , stress-free and comfortable!
Fe-Med is the No 1 pain med with no record of systemic side effect.
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INSIGHT GATHERED AND USED: I have gained deeper insight about a value proposition as part of the overall marketing strategy to support other activities such as product design, development, promotion in marketing a product or services.
I also learned that a value proposition may come in form of statements which state the problem the product is solving and how it will benefit its consumers.
Though I am yet to implemented these knowledge.
MY VALUE PROPOSITION STATEMENT: Has been written down in my study note
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