customer value proposition essay

How to Write a Great Value Proposition [7 Top Examples + Template]

Published: January 31, 2024

Your company's value proposition is the core of your competitive advantage. It clearly articulates why someone would want to buy from your company instead of a competitor.

So how do you actually write a value proposition statement that's strong enough to lift conversion rates and sales? In this article, you'll learn the definition of a value proposition, what a value prop isn't, examples of some of the best value props we've seen, and tactics to create amazing value props.

We'll cover:

What is a value proposition?

• Value Proposition vs Mission Statement (vs Others)

Elements of a Value Proposition

How to write a value proposition.

• How to Create a Value Proposition Canvas

Value Proposition Templates

Value proposition examples, value proposition canvas examples, tactics to develop an effective value proposition.

• Let's summarize: What makes a good value prop?
• Value Proposition FAQs

A value proposition is a short statement that communicates why buyers should choose your products or services. It's more than just a product or service description — it's the specific solution that your business provides and the promise of value that a customer can expect you to deliver.

Value propositions are one of the most important conversion factors. A great value proposition could be the difference between losing a sale — and closing it.

For that reason, it's important to create one that accurately represents your products and services and makes it clear why you're the best choice. However, writing it from scratch is hard. Download our templates below so you can follow along with the rest of the post.

Free Value Proposition Templates

15 templates to help you brainstorm, write, and promote your value prop.

• Value Proposition Writing Templates
• Value Proposition Canvas Template
• Brand Hierarchy Template

You're all set!

Click this link to access this resource at any time.

Your value proposition is a unique identifier for your business. Without it, buyers won't have a reason to purchase what you sell. They may even choose a competitor simply because that business communicates its value proposition clearly in its marketing campaigns and sales process .

That said, you might think: Isn't my value prop interchangeable with, say, my slogan?

Nope. It's easy to confuse your value proposition with other similar brand assets , such as your mission statement, slogan , or tagline. We break down the differences below.

Value Proposition vs Mission Statement

Your value proposition details what you offer customers and why they should choose you, while a mission statement details your objective as an organization. While the two can have points in common, a value prop is more product- and service-oriented while a mission statement is more goal-oriented.

Here are two examples for HubSpot and our CRM platform:

Value Proposition: "An easy-to-use CRM."

Mission Statement: "To help businesses grow better."

Value Proposition vs Slogan

A slogan is a short, catchy statement that brands use in marketing campaigns to sell a specific product. While your value proposition wouldn't necessarily go in an ad (at least, not usually), a slogan would. The most important thing to note is that a company can have different slogans for different campaigns or products.

Here are two examples from De Beers Group:

Value Proposition: "Exquisite diamonds, world-class designs, breathtaking jewelry."

Slogan: "A diamond is forever."

Value Proposition vs Tagline

A tagline is a short statement that embodies a certain aspect of your brand or business. While a value proposition is more concrete, a tagline can represent a concept or idea that your business stands for. Most businesses have only one tagline that is instantly recognizable and connected to their brand.

Here's an example from Apple:

Value Proposition: "The best experiences. Only on Apple."

Tagline: "Think Different."

Value Proposition vs Mission Statement vs Slogan vs Tagline

Now, let's look at an example of a business that has all four: Nike. Remember that slogans can differ depending on the campaign.

Value Proposition: "Customizable performance or lifestyle sneakers with unique colorways and materials."

Mission Statement: "To bring inspiration and innovation to every athlete in the world."

Slogan: "Twice the guts. Double the glory."

Tagline: "Just do it."

TLDR; While your value prop should help differentiate you from the rest of the industry, keep in mind it's not a slogan , tagline, or mission statement. Those types of copy are important accessories to your brand, but your potential customers and employees don't choose one business over the other solely based on these elements.

Your value proposition goes deep into the problems you want to solve for buyers, and what makes your product or service the perfect solution.

Your value proposition will most often appear on your website. While you can include it on marketing campaigns and brochures, the most visible place is your home page and, if you'd like, your product pages.

There are three main elements of a value proposition: the headline, the subheadline, and a visual element.

The headline of your value proposition describes the benefit the customer will receive as a result of making a purchase from your business. The headline can be creative and catchy, but it should be clear and concise, first and foremost.

Subheadline or Paragraph

The subheadline or paragraph should explain in detail what your company offers, who it serves, and why. In this section, you can elaborate on the information in the headline.

Visual Element

In some cases, a video, infographic, or image may convey your value proposition better than words alone can. Enhance your message with these visual elements to capture your audience's attention.

To better visualize these tools, here are a couple templates to follow when formatting a value proposition.

• Identify your customer's main problem.
• Identify all the benefits your product offers.
• Describe what makes these benefits valuable.
• Connect this value to your buyer's problem.
• Differentiate yourself as the preferred provider of this value.
• Use a template to help you brainstorm.

If you're a visual learner, check out this video to learn how to create a value proposition. 

Step 1: Identify your customer's main problem.

While this will require some upfront research, you can get a head start on this aspect of the value proposition by speaking with different members of your team. Customer service reps, marketing specialists, and salespeople can fill in the gaps about what problems your customers are looking to solve by using your product or service.

For example, let's say your business sells tax software on a subscription basis and automated templates are included in the software package. Your ideal customer is looking for an affordable and user-friendly way to access complicated tax documents for their business. In this example, your business's offerings could be the solution they need.

Step 2: Identify all the benefits your products offer.

This step can be as simple as listing out every product you sell and describing its primary benefit. The benefit should be concise and focused on a single customer need.

In our tax software example, you'd list each tax template, explain the benefit it provides, and why a customer would need it.

Step 3: Describe what makes these benefits valuable.

Next, add another sentence that explains why this benefit matters to the customer.

Using the same example above, the value would be that customers have affordable tax documentation at their fingertips — something that would normally cost them thousands of dollars.

Step 4: Connect this value to your buyer's problem.

Next, pair the buyer's problem to the elements that make your product or service valuable. Do they align? If so, you're ready to refine your value proposition to differentiate your offerings from the competition. If they don't align, repeat the steps above until you find a valid buyer need and a viable solution your business offers to meet that need.

There are three templates we think do an excellent job of connecting value to buyer pain points:

Step 5: Differentiate yourself as the preferred provider of this value.

Finally, polish your value proposition to make it unique. Is there a specific customer service offering your business provides that others don't? Do you offer any additional services that other companies charge for? These elements can help differentiate your value proposition from competitors while keeping the focus on the buyer's needs.

Step 6: Use a template to help you brainstorm.

Once you understand the first five steps, you can easily implement them into value proposition templates.

Steve Blank Method

Instead of focusing on the features themselves, Blank saw the need to emphasize the benefits derived from the features in a simple sentence. By following this formula you'll connect the target market and their pain points to the solution:

"We help (X) do (Y) by doing (Z)"

Geoff Moore Method

Moore provides a template that's more specific in identifying the industry categories alongside the benefits customers value. This makes a more clear value proposition formula as follows:

"For [target customer] who [needs or wants X], our [product/service] is [category of industry] that [benefits]"

Harvard Business School Method

According to HBS a value proposition is executed best when it answers the following questions:

• "What is my brand offering?"
• "What job does the customer hire my brand to do?"
• "What companies and products compete with my brand to do this job for the customer?"
• "What sets my brand apart from competitors?"

HubSpot Value Proposition Templates

HubSpot offers 15 free templates to help you brainstorm the perfect value proposition for your brand. Not only can they help you hone in on your business's core values, but they can also give you a boost when working on your actual statement.

Some questions you will ask yourself when using the HubSpot templates include:

• "Why do you do what you do?"
• "How do you do what you do?"
• "What do you do for your customers?"

Download for Free

Now, before you write the statement itself, it's important to create a value proposition canvas.

Taking these three elements into consideration, you'll be able to make your own after you build a value proposition canvas.

Value Proposition Canvas

A value proposition canvas is a visual tool that helps you position your business's product or service around your customers' needs. The goal of the value proposition canvas is to identify how your business provides value within the market. You can use one when introducing a new offer into the market or when enhancing an existing one.

The value proposition canvas is made up of two major components: the customer profile and the value map.

Here's how to make one:

Step 1: Create a customer profile to represent your target buyer.

The customer profile makes up the first half of the value proposition canvas. When performing this exercise, you'll want to start with this section first so that their wants and needs can influence the overall value proposition canvas.

The customer profile consists of three areas:

Customer Jobs

What is the task your customer needs to complete or the problem they're trying to solve with your product or service? The answer to this question sums up the "customer job" or the purpose of your product or service in the eyes of the customer.

Customer Expectations

"Expectations" are also referred to as "gains" — in other words, what your customer is hoping to gain from doing business with you. No matter what you sell, your ideal customer will have an expectation of what that product or service will do for them. In this section, you'll use research to explain what your customers expect from you in order to purchase your product.

Customer Pain Points

As your customer completes their "customer job," what pains do they experience? Do they take any risks while they do the customer's job? Do they experience any negative emotions? These pain points should be considered so that you include the most helpful products and services on the value map side of the value proposition canvas.

Step 2: Create a value map for your products and services.

In this section of the value proposition canvas, three specific sectors help describe what the business offers to the customer.

Gain Creators

These are features your products or services have that make the customer happy. Think creatively about the elements of happiness your customers experience. Consider their financial and social goals as well as their psychographics .

Pain Relievers

In the section above, we discussed customer pains. This section will define exactly how your business will help them overcome those pain points.

Products & Services

While this section won't list every single product or service your company offers, it should include the ones that will create the most gain and alleviate the most pains for your customers.

Step 3: Determine value proposition-customer fit.

Once you've completed the value proposition canvas exercise, the next step will be to determine how your value proposition fits within the customer profile. To do this, you'll use a ranking process that prioritizes products and services based on how well they address the customer profile.

All together, your value proposition canvas should look like this:

Next up, let's go over some templates you can use when you're creating your value proposition and publishing it on your website.

We've crafted 15 templates to help you create an amazing value proposition for your brand — and pairing each of them with an example of how they may look for a real business.

This offer has all the tools you need to craft a value proposition that precisely communicates your brand to users and stakeholders, including:

• 10 value proposition writing templates
• 1 value proposition canvas template
• 1 mission statement brainstorm template
• 1 vision statement brainstorm template
• 1 competitive analysis template
• 1 brand hierarchy template

Click here to download these free value proposition templates for your business.

Now that we've reviewed the elements, visual tools, and templates — let's look at some brand examples that effectively identify and satisfy its customer needs.

• HubSpot: An Easy-to-Use CRM
• FedEx: Manage Your Home Deliveries
• LG: State-of-the-art Living Experience
• Subaru: The most adventurous, most reliable, safest, best Subaru Outback ever
• Samsung: Get Ready to Unfold Your World
• Imperfect Foods: Groceries that help you fight food waste
• Hulu: All The TV You Love

Because value propositions are typically internal information and rarely stated publicly, finding a value proposition example to model yours after can be difficult. We've taken the liberty of using the value proposition canvas and applying it to some successful companies that have been recognized by the American Customer Satisfaction Index (ASCI).

In these examples, you'll see real-world instances of customer gains and pains aligned with well-known products and services offered by these companies.

1. HubSpot: "An easy-to-use CRM."

Headline: "An easy-to-use CRM."

Subheadline/Paragraph: "HubSpot's CRM platform has all the tools and integrations you need for marketing, sales, content management, and customer service."

Visual Element:

Most companies can benefit from using a CRM — even freelance businesses and small family-owned firms. The problem is that most systems are expensive, over-complicated and cobbled together, creating challenges for businesses as they grow.

HubSpot's value proposition aims to target active CRM users who are tired of handling over-complicated systems, and beginners who are intimidated by legacy options. These users want a system that makes growth easier, not harder.

While each product in HubSpot's CRM platform can be used individually, the true benefit comes from using each hub in tandem. Instead of having to deal with incompatible software and productivity tools, you can manage all your marketing, sales, content, and customer service needs in one place. To that end, the product's value proposition emphasizes its ease-of-use and ability to synchronize different teams across the business.

The brand includes an image of a smiling woman to show what it would be like to use the product in your team (hint: it's so easy, it'll make you smile).

2. FedEx: "Manage your Home Deliveries"

Headline: "Manage Your Home Deliveries"

Subheadline/Paragraph: Sending and receiving packages is convenient and safe for individuals who want to ship ideas and innovations across the globe.

Image Source

If you own a business, shipping and packaging products is likely a significant part of your operations, but it can be a time-consuming, labor-intensive, and plain inconvenient process. If you're a consumer, you've likely experienced driving to a shipping office to get your package after a missed delivery. Both of these are significant pain points for FedEx's target customers.

With FedEx, you can opt to receive notifications about your package's delivery status, provide instructions on how to deliver packages to your home, or even request to pick up at a different location.

Shipping packages with FedEx is just as easy as receiving them. All you have to do is create a shipping label on FedEx's website, choose which shipping service you'd like to use, and then drop your package off. Even if there isn't a FedEx office nearby, you can still drop off at national retailers like Walgreens, Dollar General, OfficeMax, and Walmart.

FedEx's value proposition makes it clear that it will make managing your deliveries much, much easier — whether you're a business or a consumer.

3. LG SIGNATURE: "State-of-the-art Living Experience"

Headline: "State-of-the-art Living Experience"

Subheadline/Paragraph: LG SIGNATURE delivers an innovative product design that creates an exceptional living experience for people who want to achieve a state-of-the-art living experience.

The right home appliances can make your at-home experience easy and hassle-free — or it can quickly create headaches with low power efficiency and outdated features. In its value proposition, LG SIGNATURE targets customers who are willing to spend just a little more on the right appliance in exchange for a comfortable, hassle-free, and luxurious experience.

LG SIGNATURE isn't your typical appliance brand. It doesn't want to sell you a bunch of products you don't need with unnecessary features you won't use. Instead, it's dedicated to crafting premium products that are functional, user-friendly, and aesthetically pleasing.

Even the imagery helps you imagine what your life would be like after purchasing an LG SIGNATURE appliance. Instead of having to replace obsolete appliances every few years, you can enjoy innovative, long lasting products.

4. Subaru: "The most adventurous, most reliable, safest, best Subaru Outback ever."

Headline: "The most adventurous, most reliable, safest, best Subaru Outback ever."

Subheadline/Paragraph: The 2022 Subaru Outback takes drivers to the most adventurous places in style with the most advanced safety technology.

Subaru knows that its target audience uses its Outback SUVs for outdoor adventures. Rather than designing a vehicle solely for utility, Subaru made the 2022 Outback attractive and spacious enough for everyday use as well as reliable and sturdy enough for all terrain and weather conditions.

So in its value proposition, it makes it clear that the Outback will help its drivers go off the road safely and in style. If I were a potential Subaru customer, I'd know exactly what I'm getting from the headline alone. That's why it's so important to think about your wording, because it's likely the first thing potential buyers will see.

5. Samsung: "Get Ready to Unfold Your World"

Headline: "Get Ready to Unfold Your World"

Subheadline/Paragraph: This is everything you'd want in a premium, durable, 5G smartphone. Then we made it unfold — revealing a massive screen so you can watch, work and play like never before.

In its value proposition, Samsung effectively targets its most tech-savvy segment by front-lining its most innovative design to date: a foldable phone that can double as a mini-tablet. Even more, it solves a common pain point for some customers: owning both a tablet and a mobile device can feel unnecessary, so why not get the best of both worlds?

The Galaxy Z Fold4 attracts customers by promising a lightweight, durable smartphone with an ultra powerful processor.

Some of its premium features include hands-free video capabilities, a large screen that's perfect for multitasking, and an advanced camera that's perfect for taking pictures at night. The phone is also crafted with high quality materials that help protect it from water damage, scrapes, and scratches. Plus, its unique design will appeal to anyone who appreciates cutting-edge technology.

6. Imperfect Foods: "Groceries that help you fight food waste"

Headline: "Groceries that help you fight food waste"

Subheadline: "Sustainably sourced, affordable, and conveniently delivered to your door."

Whether you're shopping for an entire family or just yourself, grocery shopping can be a major pain.

Planning out all your meals for the week can be overwhelming and time-consuming, especially if you're trying to ensure no food goes to waste. Even if you do successfully create the perfect shopping list, finding the time to go to the store can also be a challenge.

In its value proposition, Imperfect Foods offers a sustainable alternative to traditional grocery shopping. Unlike other delivery services, Imperfect Foods' grocery selections solely consists of food that would have otherwise been discarded due to minor cosmetic and physical imperfections.

Imperfect Foods' website design further communicates its commitment to reducing food waste with its badge counting how many pounds of food it has saved.

The company also appeals to customers' sustainability concerns by delivering to neighborhoods in one trip to reduce CO2 emissions and only using recycled packaging.

7. Hulu - "All The TV You Love"

Headline: "All The TV You Love"

Subheadline: "What full seasons of exclusively streaming series, current-season episodes, hit movies, Hulu Originals, kids shows, and more."

In July 2022, streaming services outperformed cable and broadcast TV for the first time ever. However, as streaming becomes more and more popular, customers are at risk of getting fatigued by the overwhelming amount of on-demand content to choose from.

Hulu's value proposition aims to target TV consumers who are tired of having to pay for multiple streaming services in order to have access to all the content they want to watch. Each Hulu subscriber gets access to a vast catalog of exclusive series, popular movies, original content, and more.

One of the ways Hulu makes good on its promise of providing "all the TV you love" is by offering subscription bundles with ESPN+ and Disney+, which can save consumers money if they were to subscribe to each service separately. Hulu also has premium network add-ons that give users access to even more content without having to leave the platform.

Samsung's value proposition for its foldable mobile device is smart, well-targeted, and visually stunning.

You've seen some brilliant value proposition examples, now let's review some examples of value proposition canvases.

• HubSpot Value Proposition Canvas
• FedEx Value Proposition Canvas
• LG Value Proposition Canvas
• Subaru Value Proposition Canvas
• Samsung Value Proposition Canvas
• Imperfect Foods Value Proposition Canvas
• Hulu Value Proposition Canvas

1. HubSpot Value Proposition Canvas

Customer Profile

• Customer Jobs: HubSpot customers need to effectively enable their sales teams to do their best work while avoiding complicated workflows.
• Gains: Customers want to increase their sales rep productivity levels and boost sales.
• Pains: There are plenty of CRM options, but they're often over complicated and create silos.
• Gain Creators: The HubSpot CRM platform offers streamlined contact management software and productivity tools that will help sales teams do their best work.
• Pain Relievers: The user-friendly interface and unified platform offers ease-of-use and high visibility across systems.
• Products & Services: The HubSpot CRM platform includes Sales Hub, an enterprise-level sales software that's simple yet powerful enough to cater to the needs of businesses small and large.

2. FedEx Value Proposition Canvas

• Customer Jobs: FedEx customers want to share ideas and innovations with other individuals by shipping goods around the world.
• Gains: Customers want a hassle-free way to return online orders and are looking for a safe and secure way to receive their packages.
• Pains: Returning a package at a FedEx shipping center can be inconvenient, and managing home deliveries can be a hassle.
• Gain Creators: Customers can drop off their FedEx packages at places they shop most like Walgreens or Dollar General, and have peace of mind knowing where their package is at all times.
• Pain Relievers: Thousands of FedEx drop-off locations across the country, receive notifications when a package is en route and inform the driver where to leave the package.
• Products & Services: FedEx Drop Box locations make returning packages convenient, and the FedEx Delivery Manager reroutes or reschedules deliveries to work with the customer's schedule.

3. LG Value Proposition Canvas

• Customer Jobs: LG customers want simple, yet innovative technology that helps them achieve a state-of-the-art living experience.
• Gains: Customers have an intuitive and responsive experience with each appliance they interact with inside their homes.
• Pains: There are too many unnecessary buttons and features on appliances that get in the way of a simple living experience.
• Gain Creators: Customers can use technology to enhance their home experience without needing to read a manual.
• Pain Relievers: LG offers a simple design that focuses on the user and their lifestyle.
• Products & Services: LG SIGNATURE delivers an innovative product design that creates an exceptional living experience.

4. Subaru Value Proposition Canvas

• Customer Jobs: Subaru customers want to explore the world's most adventurous places in a reliable and safe vehicle.
• Gains: Customers want to explore the land in a stylish and spacious SUV and look for advanced technological elements in their vehicles that enhance performance and safety.
• Pains: The safest vehicles are not the most visually appealing, and some SUVs aren't equipped for all-weather or all-terrain environments.
• Gain Creators: Subarus have a stylish exterior and interior with ample ground clearance that protects the vehicle against damage from the environment and advanced technology to reduce crashes and make long road trips safer.
• Pain Relievers: Subarus have a rugged blacked-out trim for style and protection, 9.5-inch ground clearance for better stability and performance, and driver-assist technology that helps drivers see better, prevent crashes, manage cruise control, and brake automatically in emergency situations.
• Products & Services: The 2022 Subaru Outback with standard eyesight assist technology, automatic pre-collision braking, adaptive cruise control, and lane-centering.

5. Samsung Value Proposition Canvas

• Customer Jobs: Samsung customers are tech-savvy and follow the latest trends, driven by efficiency and aspirational lifestyles.
• Gains: Customers want an all-in-one way to enjoy media, work productively, and have a fun experience all in the palm of their hands.
• Pains: Common smartphones have size limitations that strain entertainment viewing, gameplay, and work capabilities.
• Gain Creators: Samsung offers a unique and expansive design with capabilities beyond that of an average smartphone, offering the most advanced technology to help customers perform tasks to fulfill work and play.
• Pain Relievers: Samsung provides a smartphone that displays content in tablet-like viewing and displays up to three apps simultaneously.
• Products & Services: The Galaxy Z Fold3 5G folding 6.2-inch smartphone with dynamic AMOLED 2X screens, ultra-thin glass with S Penfold edition, and super-strong lightweight armor aluminum frame.

6. Imperfect Foods Value Proposition Canvas

• Customer Jobs: Imperfect Foods customers want a simple and sustainable option for buying fresh produce.
• Gains: Customers prefer to have their groceries delivered rather than going to the store each week.
• Pains: Produce can go to waste easily, and grocery delivery is expensive.
• Gain Creators: Imperfect Foods sources and delivers food that would have otherwise been wasted because of minor imperfections.
• Pain Relievers: Waste is minimized by delivering area groceries in one trip and recycling packing.
• Products & Services: Imperfect Foods curated food selection includes produce, pantry staples, dairy products, snacks, plant-based foods, meat, and wellness products.

7. Hulu Value Proposition Canvas

• Customer Jobs: Hulu customers are overwhelmed by the amount of video streaming options and want a platform that has all of their favorite shows and movies in one place.
• Gains: Customers primarily watch movies and TV shows via streaming services.
• Pains: There is an abundance of streaming platforms, and customers can easily get overwhelmed with the amount of TV and movie options.
• Gain Creators: Hulu's streaming library features full seasons of exclusive series, popular movies, original content, and more.
• Pain Relievers: The different subscription plans and premium network add-ons allow customers to curate their streaming experience to their tastes and can help minimize the amount of services they subscribe to.
• Products & Services: All subscription plans include access to Hulu's streaming library, new episodes the day after they air, and ability to stream on different devices.
• Conduct research to determine the value proposition of your competitors.
• Explain the value of your products and services.
• Describe the benefits your ideal customer will experience when they choose your product or service over the competition.
• Develop a unique value proposition for each buyer persona you serve.
• Test your value proposition with your audience using various marketing channels.

1. Conduct research to determine the value proposition of your competitors.

Because your value proposition is the differentiating factor between your business and the competition, it's important to research the propositions of your closest competitors. You can use the value proposition canvas in this post to determine how each company meets the needs of your buyer persona.

Be honest here — it's tempting to focus on the areas in which your competition doesn't excel, but you'll have a better idea of where your product or service fits within the market if you key in on your competitors' strengths.

2. Explain the value of your products and services.

You're probably familiar with outlining the features and benefits of your product and service offerings. This tactic takes that concept a step further. By matching the benefits of your offerings to specific values that your customers have, you'll be able to align what your business provides with what your customers need.

3. Describe the benefits your ideal customer will experience when they choose your product or service over the competition.

When crafting this part of your value proposition, include details about how your product or service will benefit the customer and use examples where you can. Videos, photos, and live demonstrations are all effective ways to illustrate your value proposition because they show the customer exactly what they can expect from your business.

4. Develop a unique value proposition for each buyer persona you serve.

Ideally, you'll be focusing your marketing efforts on a specific target audience. You'll also find that this audience will have different needs based on their buying behaviors. Buyer personas can help you segment your larger audience into groups of customers with similar desires, goals, pain points, and buying behaviors. As a result, you'll need a unique value proposition for each persona. Different products and services you offer may solve certain customer pain points better than others, so developing a value proposition for each persona will better serve each one.

5. Test your value proposition with your audience using various marketing channels.

Each of these tactics will likely be developed internally by your team which means you'll want to validate your work with your target audience. Your value proposition will be communicated through various marketing channels like your website, social media accounts, video, audio, and in person. Test your proposition with members of your audience (both existing customers and non-customers) using each of these channels. Tools like UserTesting can help you streamline this feedback process so that you can implement changes quickly to finalize your value proposition.

We know the makings of a value proposition, so how can you make it a good one? Here's the last three tips we have for you.

What makes a good value proposition?

1. clear language.

Your value proposition should aim to address a primary customer need. This limited focus helps keep your value proposition clear and easy to understand. With just one main idea to comprehend, your audience will be able to quickly decide whether or not your product or service will be the best solution for them.

2. Specific Outcomes

Next, you'll want to communicate the specific outcomes your customer can expect to receive from your product or service. Will they save time? Demonstrate how. Will their workflow become more manageable? Show a before and after workflow diagram. The specific outcomes will be critical components of your value proposition as they'll exemplify exactly how your customers will use your solution to solve their problems.

3. Points of Differentiation

Not only are your potential customers evaluating your business's offerings based on their own needs, but they're also comparing what you offer against competitors. As a result, your value proposition will need to include detailed points of differentiation. These key points will help customers understand exactly what sets your company apart.

Value Proposition Frequently Asked Questions

What is the purpose of a value proposition? To effectively communicate the unique value and benefits that a product or service offers to its target customers to differentiate it from the competition and attract or retain customers.

What if the value proposition fails? If the value proposition fails, it can result in difficulties attracting and retaining customers, losing market share to competitors, and ultimately impacting the product's or service's success and sustainability.

Can you change your value proposition? Yes, a company can change its value proposition by identifying and addressing customer pain points or needs, modifying its product or service offerings, and effectively communicating the new value to its target audience.

Compose a Remarkable Value Proposition

The factors that influence a potential customer to become a loyal customer are limited. Whether your industry has a lot of opportunities to differentiate (like retail) or virtually no unique identifiers (like dairy), you'll find that a value proposition will help you understand your ideal customer and position your business as the best solution for their needs. Use the tactics, tips, framework, and examples in this post to craft your unique value proposition.

Editor's note: This post was originally published in June 2018 and has been updated for comprehensiveness.

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15 free value proposition templates to help you brainstorm, write, and promote your value prop.

Marketing software that helps you drive revenue, save time and resources, and measure and optimize your investments — all on one easy-to-use platform

How to Write a Value Proposition (+ 6 Modern Examples)

Leaders often work tirelessly to improve their company’s product or service, thinking that it’s the most valuable role they can play. But for your business to “click” with your target audience, you need to stay just as close to your customers as you do to your offerings.

The details of customers’ needs and wants should be just as familiar to you as the features of your product or the details of the service that you provide. A value proposition serves as the bridge between these two aspects of your work. It’s a mantra that unites the two halves of the whole business.

We’ve demystified the nuts and bolts of how to write a value proposition, complete with examples, so you can ensure that all your hard work manifests in value for your customers every day.

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What is a value proposition?

A value proposition is a simple statement that summarizes why a customer would choose your product or service. It communicates the clearest benefit that customers receive by giving you their business. Every value proposition should speak to a customer’s challenge and make the case for your company as the problem-solver.

A great value proposition may highlight what makes you different from competitors, but it should always focus on how customers define your value . Likewise, conversations around brand strategy and taglines should stem from a value proposition, but they aren’t one and the same.

You may be wondering: Why bother learning how to write a value proposition? It’s like investing in the foundation of a house. You may not see the foundation, but everything you do see — and the long-term safety and security of your home — rest on it having a strong place to start from.

How to write a value proposition: 3 options

If you’re intentional about creating a value proposition, it can help clarify the way forward for your entire company. However, including too many voices early on can water down your intent in an effort to make everyone happy, and, ironically, the results won’t work for anyone.

Rather than get everyone involved, start with a small group of people (no more than three) who can set aside the time to hone a few compelling options.

Here’s how to write a value proposition three different ways, from complex mapping to a simple formula. Start with one or try all three in a workshop to refine your ideas with greater precision.

1. Map out a value proposition canvas

Peter Thomson’s value proposition canvas explores the different components of a company that contribute to a strong value proposition. Thomson believes that a process like this can help team members get to “minimum viable clarity,” which can be whittled down into a one-sentence value proposition.

Thomson calls a value proposition “a crunch point between business strategy and brand strategy,” and he created a model that syncs the two strategies. There are seven areas to explore, each of which takes up a section in the map:

When you explore each section of the canvas, do so from the perspective of the customer. While writing out the benefits of your product, imagine how it increases pleasure or decreases pain for the person using it. Approach the features and the experience that way, too: How do the features make the customer’s life better? How does the product experience make a customer feel?

Next, you’ll dive into the customer’s wants (emotional drivers), needs (rational motivators), and fears (undesired outcomes). Remember that even when consumers are making purchases or investments on behalf of a company, they can still be guided by emotions .

In particular, try to understand whether a product or service affects a buyer’s perceived likelihood of failure, their anxiety, or their reputation at work. You can use Bain & Company’s 30 “ Elements of Value ” and its B2B counterparts as a roadmap for articulating the ways your company gives the customer value within this context.

2. Ask Harvard Business School’s essential questions

Harvard Business School’s Institute for Strategy & Competitiveness simplified how to write a value proposition with just three prompts. Just as Thomson does, Harvard argues that a value proposition serves as the connection between a company and its customers:

“While the value chain focuses internally on operations, the value proposition is the element of strategy that looks outward at customers, at the demand side of the business. Strategy is fundamentally integrative, bringing the demand and supply sides together.”

To create an integrated, cohesive value proposition, start by brainstorming as a group around these three questions:

Which customers are you going to serve?

Which needs are you going to meet?

What relative price will provide acceptable value for customers and acceptable profitability for the customer?

Depending on your product and service, it may make sense for you to start with the first or second question in the list. Together, all three create a triangle that can lead you closer to a succinct value proposition.

As you move through the exercise, consider which one is the primary “leg” of the triangle. For example, is the greatest value that you offer in cost savings? Or is it that you’re offering a better product or experience at a premium?

Also, think about whether your company is expanding the market by meeting a need that hasn’t been realized. Harvard’s experts use a great example — the iPad. Apple created a new demand that hadn’t existed before the technology hit the market.

3. Try the Steve Blank formula to distill your insights

Steve Blank , a former Google employee who runs the Lean Startup Circle , noticed that many startup founders emphasize features instead of benefits when they try to transform more detailed insights into a succinct value proposition. Instead of summarizing how a company offers value to customers, leaders often get stuck in the weeds.

Blank saw the need for a simple formula to transform a brainstorm into a simple sentence. We love distilling more detailed insights with his method:

We help (X) do (Y) by doing (Z).

Use Blank's intuitive template to come up with your own value proposition. Remember that the first thing that comes to mind may be the best. Your gut instinct could be spot on here, and that’s what makes this simple solution so valuable.

Here’s my value proposition for my copywriting business, for example:

I help marketing teams to resonate with their target audiences by communicating with clarity and compassion.

Your local coffee shop may have a value proposition that’s similar to this one:

We help our local customers to feel good and do good by fueling them up with artisanal coffee in a community-focused space.

Although you may have brainstormed as a group with the other two methods, this time, ask team members to complete this exercise individually. Comparing and contrasting answers afterward can yield helpful insights about each person’s priorities.

Most importantly, as you draft your value proposition, use the language your customers use. At Help Scout, we say things like “emails slipping through the cracks,” because that’s what our customers say about the problem we help solve. If you don’t write your value proposition the way your customers would write it, there will be a big gap between what you say and what they hear. When you use their voice, you cut through the noise.

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6 value proposition examples

Beyond grasping how to write a value proposition, it helps to see how a strong statement influences and infuses a company’s strategy. Because value proposition examples aren’t necessarily the same thing as brand copywriting , we don’t have access to the exact words a company uses internally.

However, if a company does a great job situating their value proposition within the market, you can tell because their message resonates far and wide. Here are six modern value proposition examples that will help you to understand how value propositions can help you break into a market or create a new one.

Slack is a collaboration tool for teams with a simple, easy-to-use platform and instant message capability. The platform is equally beloved by enterprise teams and scrappy startups for its ability to keep work flowing, no matter the everyday barriers or the complexity of a project.

Everything that the company does hinges on their value proposition: Slack saves time by tearing down communication and systems silos. Their product aspires to take the pain out of working together online — and maybe even make it fun. That’s something no other product has tried or claimed to do.

Because they’ve built such a powerful value proposition, Slack is perceived as an enjoyable alternative to the dreaded email inbox and other tools. Their approach works. Slack is the fastest-growing SaaS startup ever, and it’s used by 77% of Fortune 500 companies.

Despite this legendary growth, Slack famously said it was a business with a pared-down sales team, which is only possible because of the foundation they set with a formidable value proposition.

2. Bloom & Wild

Bloom & Wild is an online flower delivery company that simplifies the process of ordering and receiving luxury flowers. Aron Gelbard, founder and CEO, explained their value proposition in their 2017 funding announcement: “We’re enabling [our customers) to order flowers and gifts from the palm of their hand with better product, designs and payments.”

Bloom & Wild makes it possible for customers to deliver flowers in under a minute using their smartphone or computer; going from thought to action is almost instantaneous. As Gelbard says, “Our mission is to make sending and receiving flowers a joy, using technology to turn emotions into an action in the simplest and most beautiful way possible.”

The flowers are just as simple to receive. They’re packed in flat boxes so they can be delivered through letterboxes (or mailboxes) so there’s no need for someone to be on hand to receive them, and they’re sent as closed flower buds for a longer bloom.

While many companies deliver flowers, Bloom & Wild differentiates itself by offering a smooth customer experience for everyone, as well as competitive pricing, with significantly cheaper blooms than average.

Bloom & Wild communicates its value proposition so clearly that its customers perform much of the hard task of marketing for them through word-of-mouth referrals.

When Airbnb began to disrupt the hospitality industry, it needed to market to two separate groups: guests who wanted a place to stay and hosts who wanted to rent out their spaces. Their two-in-one value proposition: Travelers benefit from a truly local experience and hosts benefit from extra income.

In their own words, “Airbnb exists to create a world where anyone can belong anywhere, providing healthy travel that is local, authentic, diverse, inclusive and sustainable.”

Their rooms often have more character than hotels, and they’re usually located in neighborhoods people live in. Guests learn from local knowledge shared by hosts and feel at home wherever they go. These different sources of value wrap together into Airbnb’s tagline: Belong Anywhere.

As a business goes through different stages of growth, its value proposition is likely to change, too. Originally marketed as much cheaper than staying in a hotel, Airbnb has now become an experience-driven, mainstream staple with a premium wing called “Airbnb Plus,” with its own value proposition.

4. Fjällräven

The classic Swedish outdoor clothing and equipment company Fjällräven was founded by Åke Nordin in 1960. He designed functional (and warm) products for professional researchers taking expeditions into northern Scandinavia.

Now, the 60-year-old brand is experiencing a resurgence amongst younger generations across Europe and North America. Their core proposition is that they sell high-quality, sustainably made products that balance form and function. Yes, customers look great wearing their backpacks and they can still hike up a mountain in the middle of winter.

Their commitment to sustainable business practices appeals to the same conscious consumers who value the outdoors, which fortifies their value proposition. Fjällräven manufactures many of its own products using its own G-1000 material, as well as its own Greenland Wax, contributing to its value proposition of offering quality and durability.

Because they “craft products for a lifetime of memories,” customers are more than willing to pay their premium prices.

5. Juniper Print Shop

When Jenny Komenda launched her first blog, Little Green Notebook, in 2007, she was a young designer sharing her DIY projects with the world. An entrepreneur at heart, Komenda evolved her skillset and online following into another award-winning blog, Juniper Home, and its beloved counterpart, Juniper Print Shop .

Komenda built a cohesive brand that championed affordable design and spoke to a key value proposition that motivated her customers: helping non-designers create a beautiful home without breaking the bank.

Her content answers this question in thousands of different ways, and the new arm of her business offers a simple fix for finding affordable art — one of the most difficult challenges along the way. She launched a print shop featuring the work of women artists and photographers with simple digital downloads and physical prints that are cost-effective and easy to install.

Juniper’s value proposition comes to life in the details of the print shop — from links to affordable IKEA frames — and Jenny’s one-of-a-kind suggestions (buy a vintage frame, invest in a custom mat).

6. Found My Animal

Found My Animal is a company for rescue dogs and their owners. In 2006, Bethany Obrecht and Anna Conway met by coincidence — they both had rescue dogs named Walter, and they quickly became friends.

Their shared interest in crafts (and a fisherman relative) led the two dog moms to design and create leashes from nautical rope that withstand hundreds of pounds of pull. Each leash has a brass tag with the word “FOUND” written on it in simple font.

The company has since expanded their product lines to include other dog accessories and supplies like dog beds, totes, and toys.

Found My Animal’s value proposition is simple: Support a company that donates a portion of its profits to animal rescue groups by outfitting your own rescue in quality products. The company has given money (and leashes) to over 64 nonprofit organizations that help abandoned or neglected pets, so customers know their purchases are making a difference.

This value proposition is baked into every aspect of Found My Animal, especially their marketing. Their team features rescue dogs in need of homes front and center on their website and their social media accounts. Plus, their social media tag #foundmyanimal brings awareness to animal adoption.

They even launched The Rescue Orange Project: A buy-one-donate-one leash program. For dog owners who are as devoted to rescuing other pups as they are to their own, buying from this company is a no-brainer.

The best value propositions evolve with your customers

Now that you can answer the question “What is a value proposition?” a few different ways, you’re ready to get to work. Even if you already have a value proposition in place, consider carving out the time to revisit it.

As customers and markets change over time, your company should evolve as well. Rather than make assumptions about your community based on their past needs and buying behaviors, create feedback loops so you’re always in the know.

By listening to customers in real time, you set your company up to evolve its value proposition and meet the needs of your community as it grows.

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Liz writes about business, creativity and making meaningful work. Say hello on Twitter or through her website.

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Customer Value Propositions in Business Markets

• James C. Anderson,
• James A. Narus,
• Wouter Van Rossum

Examples of consumer value propositions that resonate with customers are exceptionally difficult to find. When properly constructed, value propositions force suppliers to focus on what their offerings are really worth. Once companies become disciplined about understanding their customers, they can make smarter choices about where to allocate scarce resources.

The authors illuminate the pitfalls of current approaches, then present a systematic method for developing value propositions that are meaningful to target customers and that focus suppliers’ efforts on creating superior value. When managers construct a customer value proposition, they often simply list all the benefits their offering might deliver. But the relative simplicity of this all-benefits approach may have a major drawback: benefit assertion. In other words, managers may claim advantages for features their customers don’t care about in the least.

Other suppliers try to answer the question, Why should our firm purchase your offering instead of your competitor’s? But without a detailed understanding of the customer’s requirements and preferences, suppliers can end up stressing points of difference that deliver relatively little value to the target customer. The pitfall with this approach is value presumption: assuming that any favorable points of difference must be valuable for the customer.

Drawing on the best practices of a handful of suppliers in business markets, the authors advocate a resonating focus approach. Suppliers can provide simple, yet powerfully captivating, consumer value propositions by making their offerings superior on the few elements that matter most to target customers, demonstrating and documenting the value of this superior performance, and communicating it in a way that conveys a sophisticated understanding of the customer’s business priorities.

Under pressure to keep costs down, customers may only look at price and not listen to your sales pitch. Help them understand—and believe in—the superior value of your offerings.

The Idea in Brief

If you sell products to other companies, you know how hard it’s become to win their business. Your customers—pressured to control costs—seem to care only about price. But if you lower prices to stimulate sales, your profits shrink.

So how can you persuade your business customers to pay the premium prices your offerings deserve? Craft a compelling customer value proposition . Research potential customers’ enterprises, identifying their unique requirements. Then explain how your offerings outmatch your rivals’ on the criteria that matter most to customers. Document the cost savings and profits your products deliver to existing customers—and will deliver to new customers.

The payoff? You help your customers slash costs—while generating profitable growth for yourself. One company that manufactured resins used in exterior paints discovered this firsthand. By researching the needs of commercial painting contractors—a key customer segment—the company learned that labor constituted the lion’s share of contractors’ costs, while paint made up just 15% of costs. Armed with this insight, the resin maker emphasized that its product dried so fast that contractors could apply two coats in one day—substantially lowering labor costs. Customers snapped up the product—and happily shelled out a 40% price premium for it.

The Idea in Practice

To craft compelling customer value propositions:

Understand Customers’ Businesses

Invest time and effort to understand your customers’ businesses and identify their unique requirements and preferences. Example: 

The resin manufacturer deepened its understanding of key customers in several ways. It enrolled managers in courses on how painting contractors estimate jobs. It conducted focus groups and field tests to study products’ performance on crucial criteria. It also asked customers to identify performance trade-offs they were willing to make and to indicate their willingness to pay for paints that delivered enhanced performance. And it stayed current on customer needs by joining industry associations composed of key customer segments.

Substantiate Your Value Claims

“We can save you money!” won’t cut it as a customer value proposition. Back up this claim in accessible, persuasive language that describes the differences between your offerings and rivals’. And explain how those differences translate into monetary worth for customers. Example: 

Rockwell Automation precisely calculated cost savings from reduced power usage that customers would gain by purchasing Rockwell’s pump solution instead of a competitor’s comparable offering. Rockwell used industry-specific metrics to communicate about functionality and performance—including kilowatt-hours spent, number of operating hours per year, and dollars per kilowatt-hour.

Document Value Delivered

Create written accounts of cost savings or added value that existing customers have actually captured by using your offerings. And conduct on-site pilots at prospective customer locations to gather data on your products’ performance. Example: 

Chemical manufacturer Akzo Nobel conducted a two-week pilot on a production reactor at a prospective customer’s facility. AN’s goal? To study the performance of its high-purity metal organics product relative to the next best alternative in producing compound semiconductor wafers. The study proved that AN’s product was as good as or better than rivals’ and that it significantly lowered energy and maintenance costs.

Make Customer Value Proposition a Central Business Skill

Improve and reward managers’ ability to craft compelling customer value propositions. Example: 

Quaker Chemical conducts a value-proposition training program annually for chemical program managers. The managers review case studies from industries Quaker serves and participate in simulated customer interviews to gather information needed to devise proposals. The team with the best proposal earns “bragging rights”—highly valued in Quaker’s competitive culture. Managers who develop proposals that their director deems viable win gift certificates.

“Customer value proposition” has become one of the most widely used terms in business markets in recent years. Yet our management-practice research reveals that there is no agreement as to what constitutes a customer value proposition—or what makes one persuasive. Moreover, we find that most value propositions make claims of savings and benefits to the customer without backing them up. An offering may actually provide superior value—but if the supplier doesn’t demonstrate and document that claim, a customer manager will likely dismiss it as marketing puffery. Customer managers, increasingly held accountable for reducing costs, don’t have the luxury of simply believing suppliers’ assertions.

• JA James C. Anderson is the William L. Ford Professor of Marketing and Wholesale Distribution at Northwestern University’s Kellogg School of Management.
• James A. Narus is a professor of business marketing at Wake Forest University.
• WR Wouter Van Rossum is a professor of commercial and strategic management at the School of Business, Public Administration, and Technology at the University of Twente.

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Customer Value Proposition in Marketing

• Categories: Marketing Strategy

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Published: Mar 20, 2024

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Defining customer value proposition, importance of customer value proposition, developing a customer value proposition, communicating the value proposition.

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How to Create an Effective Value Proposition

• 28 Jul 2020

Starting a business comes with many unknowns, but the value of your brand shouldn't be one of them.

Before launching a venture, all entrepreneurs should determine what market need their product or service fulfills, and what separates their offering from other available options. Without this differentiation and definition of opportunity, a new business isn't likely to succeed.

To communicate the need your product fills and its differentiating factors, you need to create an effective value proposition.

Before diving into how to craft yours, here's a look at what a value proposition is and why it's important for your business.

Access your free e-book today.

What Is a Value Proposition?

A value proposition is a statement that conveys what a brand does and how it differs from competitors. It's typically developed as part of a broader marketing strategy and no more than a few sentences long. The initial proposition can be bolstered with statistics and facts that prove the brand's stated value.

Having a value proposition is important because it clearly and concisely communicates what customers can gain from selecting your brand over that of your competitors. This statement can be used in several ways, including:

• On your company's website to help convert potential leads into customers
• When pitching your company to investors
• As an answer to the question, "So, what exactly does your company do?"

As an entrepreneur, it's your job to be your organization's number one advocate and garner the support of others. A short, clear value proposition can stick in the minds of investors, potential customers, friends, and relatives, ensuring your brand's value isn't lost in translation.

To begin crafting your brand's value proposition, start with an understanding of the jobs to be done theory.

Related: 6 Questions to Ask Before Starting a Business

Understanding Your Customers' Jobs to Be Done

The jobs to be done theory was developed by Harvard Business School Professor Clayton Christensen. It asserts that customers "hire" products and services to get "jobs" done, rather than purchasing them based on their attributes and buying behaviors.

"A 'job to be done' is a problem or opportunity that somebody is trying to solve," Christensen says in the online course Disruptive Strategy . "We call it a 'job' because it needs to be done, and we hire people or products to get jobs done."

One example of a successful brand that's used this framework is Warby Parker , founded in 2010 by Neil Blumenthal, Dave Gilboa, Andy Hunt, and Jeff Raider.

The eyeglass company got its start when one of the founders lost his glasses on a backpacking trip. Unable to swing the steep price of a new pair, he spent the next semester " squinting and complaining " to three of his friends, who realized they had been in similar situations.

"We were amazed at how hard it was to find a pair of great frames that didn't leave our wallets bare," Warby Parker states on its website . "Every idea starts with a problem. Ours was simple: Glasses are too expensive."

This statement describes the job to be done discovered by Warby Parker's founders. They realized people had a need to purchase affordable eyewear and, after some research, found there weren't many options in the market.

"Understanding that the same company owned LensCrafters and Pearle Vision, Ray-Ban and Oakley, and the licenses for Chanel and Prada prescription frames and sunglasses—all of a sudden, it made sense to me why glasses were so expensive," Gilboa explains in an interview with Forbes .

The team decided to take things one step further by adding a social justice component to their business model. For every pair of eyeglasses purchased, Warby Parker donates a pair to someone in need.

"There's nothing complicated about it," the company states on its website . "Good eyewear, good outcome."

This satisfies another job to be done: providing customers with a convenient means of helping others. This dual-pronged jobs to be done framework proved to be a success, as the team hit its first-year sales goal in just three weeks .

Warby Parker continues to build its value around jobs to be done and can expect its customers' needs to "purchase affordable eyewear" and "help others in a convenient way" to endure.

"Because a job to be done remains stable over time, it provides a North Star in innovation," Christensen says.

When crafting your brand's value proposition, think about the job to be done it addresses. How does its value center on a persisting need you can fill in a unique way? It's this positioning that can allow your brand to provide the same value for customers as the market advances.

Related: Jobs to Be Done: 4 Real-World Examples

Creating a Value Proposition

You can use the jobs to be done framework as a starting point to craft your brand's value proposition.

Ask yourself:

• What is my brand offering?
• What job does the customer hire my brand to do?
• What companies and products compete with my brand to do this job for the customer?
• What sets my brand apart from those competitors?

For example, Warby Parker's founders could answer these questions as follows:

• Warby Parker offers affordable designer eyewear, including contacts.
• Customers hire Warby Parker to provide high-quality eyewear at affordable prices and give back to the community in a convenient way.
• All other eyewear brands compete with Warby Parker.
• Warby Parker's commitment to giving back to the community and its affordable prices set it apart from competitors.

Next, summarize your points in a clear, concise value proposition. Continuing the example above, Warby Parker's value proposition, as published on its home page , is:

“Buying eyewear should leave you happy and good-looking, with money in your pocket. Glasses, sunglasses, and contacts—we’ve got your eyes covered.”

This value proposition is reinforced throughout the company's website, along with its stated commitment to social justice :

“Warby Parker was founded with a rebellious spirit and a lofty objective: to offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses.”

To ensure your value proposition is effective, consider running it by a few people who are unfamiliar with your business. If confusion arises, edit your statement to address those points.

Once you have a value proposition you're proud of, make it known. Publish it on your website, incorporate it into your marketing materials, and memorize it for sharing during networking events, pitch opportunities, and dinner conversations.

Related: 3 Disruptive Strategy Skills For Entrepreneurs and Business Leaders

Setting Yourself Up for Success

By positioning your brand as a solution to a job to be done, you can set your company up for success. Creating a value proposition is a reflective exercise that prompts you to take stock of the need your brand fills, who your competitors are, and how you provide a different experience from other products and services.

Condensing these reflections into a succinct value proposition can enable you to convert leads into customers, effectively pitch to investors, and communicate the value of your brand at scale.

Do you want to craft winning, innovative strategies? Explore Disruptive Strategy , one of our online entrepreneurship and innovation courses . If you aren't sure which course is the right fit, download our free course flowchart to determine which best aligns with your goals.

About the Author

The customer value proposition: evolution, development, and application in marketing

• Conceptual/Theoretical Paper
• Published: 18 March 2017
• Volume 45 , pages 467–489, ( 2017 )

Cite this article

• Adrian Payne 1 ,
• Pennie Frow   ORCID: orcid.org/0000-0002-9828-1220 2 &
• Andreas Eggert 3  

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The customer value proposition (CVP) has a critical role in communicating how a company aims to provide value to customers. Managers and scholars increasingly use CVP terminology, yet the concept remains poorly understood and implemented; relatively little research on this topic has been published, considering the vast breadth of investigations of the value concept. In response, this article offers a comprehensive review of fragmented CVP literature, highlighting the lack of a strong theoretical foundation; distinguishes CVPs from related concepts; proposes a conceptual model of the CVP that includes antecedents, consequences, and moderators, together with several research propositions; illustrates the application of the CVP concept to four contrasting companies; and advances a compelling agenda for research.

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Payne, A., Frow, P. & Eggert, A. The customer value proposition: evolution, development, and application in marketing. J. of the Acad. Mark. Sci. 45 , 467–489 (2017). https://doi.org/10.1007/s11747-017-0523-z

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Meaning of Customer Value Propositions

Over the last couple of years, the customer value proposition has been a commonly used term in business markets, although no evidence exists on what constitutes persuasion. A supplier needs to demonstrate and document a superior value offering for a customer manager to consider. The customer value proposition can be viewed as a spin developed by an organization’s marketing departments to enhance promotional copy as well as advertisement. Therefore, companies should show knowledge about their customers for easier and effective decision-making regarding the allocation of company resources (Kumar&Reinartz, 2016). This would ensure that the developed value propositions are helpful to the targeted customers and superior value is created through the suppliers’ efforts.

According to Kotler & Keller (2016), the business market constitutes three types of value propositions; resonating factors, all benefits, and favorable points of difference. In all benefits value proposition, managers acquaint themselves with all the benefits that the target customers will get from their offer. The construction of this proposition, therefore, requires minimal effort because it needs little knowledge about competitors as well as customers. However, this proposition is associated with a major drawback of benefit assertion. This implies that sometimes, managers may look at features that would not benefit the target customers. Additionally, in the value propositions, managers should identify points of difference and parity. This will ensure that the points of parity do not dilute genuine points of difference.

Favorable points of difference value proposition acknowledges the availability of alternatives to customers. Managers should not only convince a customer to accept an offer but also demonstrate why the customer should not consider alternative offers from other suppliers (Sheth 2019). Therefore, suppliers should create a clear distinction between their offer and the best alternative. This process requires that suppliers seek extensive knowledge about the alternative. However, this knowledge does not guarantee that customers would get the value arising from the difference since a product could be having multiple points of difference. This scenario would complicate the supplier’s knowledge regarding the offer, resulting in a greater value. Sometimes, a supplier may lack extensive knowledge on the preferences and requirements of a customer and why fulfilling them is critical. In such a case, points of difference delivering little value to customers are stressed by the supplier leading to value presumption, a pitfall associated with this value proposition (Patala et al., 2016). Therefore, favorable points of difference should not be assumed to have value to targeted customers.

Although the value of proposition of the favorable points of difference is preferred to that of all benefits, the gold standard should be the value of proposition of resonating focus. The resonating focus proposition considers that managers are always pressed for time. It also acknowledges that purchase decision-makers have a big responsibility which is ever increasing. Such managers want to develop a value proposition for the customer, simple but captivating. Further, they are in an environment where suppliers they would like to engage have a grasp of all critical issues related to the business. Suppliers can provide a compelling value proposition to customers by making special offers, especially on target customers’ critical matters. Suppliers can also achieve this proposition through demonstration and documentation of such a superior performance and communicating it in a manner that fits the business priorities of the customers. Therefore, targeted customers need to identify the cost savings and any other added value derived from choosing a supplier’s offer rather than that of the alternative.

By acknowledging that more is not necessarily better, the resonating focus proposition differs from that of points of difference. The resonating focus approach emphasizes a few points of difference capable of delivering greater value to customers and which, if improved, will continue to generate this value (Payne et al 2017). Suppliers seeking to adopt the best practices should know that constructing a resonating focus proposition is not one-time. Therefore, they educate their customers on the next possible value propositions. In addition, the resonating focus approach may consist of a point of parity. This arises when target customers’ consideration for the supplier’s offer requires a point of parity. It may also arise when a supplier decides to counter mistaken perceptions of the customer regarding a point of difference of a given element favoring competitors’ offers. This is often experienced whenever the customer believes in the superiority of the competitor’s offer while the supplier believes that the offers can be compared (Hudson 2017). Despite being difficult to craft, the effectiveness of resonating focus propositions is unquestionable, and therefore, suppliers need to research customer value to construct these propositions.

Properly created customer value propositions contribute to the strategy and performance. Irrespective of all talks regarding customer value, few suppliers have taken the necessary extra step to research this area. This research requires not only time but also effort, persistence, and high creativity. Therefore, suppliers must acquaint themselves with as much knowledge about customer satisfaction to develop customer value propositions that would meet the requirements of the target customers.

Hudson, D. (2017). Value propositions for the internet of things: Guidance for entrepreneurs selling to enterprises. Technology Innovation Management Review , 7 (11).

Kotler, P., & Keller, K. (2016). Marketing management (15th ed.). Upper Saddle River, NJ: Prentice Hall.

Kumar, V., & Reinartz, W. (2016). Creating enduring customer value. Journal of Marketing , 80 (6), 36-68.

Patala, S., Jalkala, A., Keränen, J., Väisänen, S., Tuominen, V., &Soukka, R. (2016). Sustainable value propositions: Framework and implications for technology suppliers. Industrial Marketing Management , 59 , 144-156.

Payne, A., Frow, P., & Eggert, A. (2017). The customer value proposition: evolution, development, and application in marketing. Journal of the Academy of Marketing Science , 45 (4), 467-489.

Sheth, J. N. (2019). Customer value propositions: Value co-creation. Industrial Marketing Management , 87 , 312-315.

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Business Modeling: Customer Value Proposition, System Building and Its Analysis Report (Assessment)

Business innovation and value add proposition, system building and linking business strategy, system analysis techniques and tools, system building and process modeling, reference list.

Reconsidering some of the recent events that shook the business world either with a dazzling performance of some of the mature entrepreneurs, or with a rapid downfall of the world’s renewed companies and business people, one must mention the notorious Harvey Norman Model (Roth, 2011).

It has not been even a decade since the efficacy of the model was questioned, yet the controversy concerning the use of the model that Norman suggested has been blown to the cosmic proportions.

By taking a closer look at the origin of the proposed model, its specifics and mechanics, as well as evaluating its strengths and weaknesses, one can possibly check whether the charges preferred to Harvey Norman’s brainchild are legitimate.

Despite the claims that Harvey Norman Model is practically unsustainable because of its inflated prices and the fact that it feeds of the fraud the Australian market, its validity remains to be discussed, since it might actually lead to positive outcomes by expanding the company and providing the customer with better products and services.

According to the existing descriptions of the specifics of the Harvey Norman Model, the guiding principle of the enterprise lies in allowing the numerous franchisees operate the largest part of the company and, therefore, shape the company’s policies, management, production process and retail according to their tastes (Koch, 2006, p. 86).

When thinking about the negative effects of using the proposed model, one must mention that it lacks flexibility, since there is no cohesion between the actions of the franchisees and, therefore, no opportunity to change the course of the company strategies once the need arises.

The strategy also has a number of weak points that have led to its instability and have exposed the company to a threat of losing not only its influence, but also its money and, therefore, going completely bust.

According to the assumptions provided by the market retail experts in 2005, the key problem with the suggested strategy as for its value add proposition was that it did not allow the franchisees to have the same freedom of actions.

Therefore, the strategy lacks flexibility with providing services to the customers, which results in the dissatisfaction of the latter.

Finally, the fact that each of the franchisees sets his/her own prices for the services, which often results in the dissatisfaction of the suppliers, who are paid insultingly low, adds to the disadvantages of the model.

Reconsidering the possible solutions for the given case, i.e., developing a value add proposition for the Harvey Norman Company, one must admit that it is in the company’s interest that its reputation should be restored and it should get back to providing the customers with high-quality services and goods.

The latter, however, becomes attainable once the company proves that its marketing strategy is efficient enough to attract more clientele (Chait, Ryan & Taylor, 2011, n. p.). However, when considering the existing options a bit closer, one will be able to come up with a solution for the Harvey Norman Company.

Therefore, it is clear that with the choice of a proper strategy, the company is likely to solve the existing complexities and return to its normal course. The above-mentioned plan implementation will require changes in the company knowledge management system and the policy on supply chain management (Leeman, 2010).

Therefore, it would be a good idea for the company to expand, which will require to adopt the Virtual Merchant Model (Targowski, 2003, p. 258). By incorporating the latest technologies to coordinate the work between the affiliates and promote to the customers, the Harvey Norman Company will be able to survive.

For the Virtual Merchant Model to be applied successfully and the changes to trigger the desired outcomes, it will be necessary to reinvent the perception of how the company is run and represent a new way of addressing the customers, obtaining the supplies and running the numerous affiliates, which are scattered all over the world (Buchan, 2013).

It is clear that the Harvey Norman Company is by far too big to incorporate the specifics of every single affiliate into the analysis (Kurby & Drury, 2012). However, it will be required to have the information concerning all the franchisees, their policies and strategies.

Therefore, it will be necessary to conduct an analysis of the company process in general, provide the description of the structure of each affiliate and make a list of the company’s greatest concerns ( APAIS: Australian public affairs information service , 2000).

While the Harvey Norman franchise system should still remain the driving force behind the company’s retail strategy.

To evaluate the efficiency of the adopted approach, however, specific measurement tools, such as customer surveys (Kenneth & Salini, 2011), will be required. Therefore, it will be reasonable to use such a tool as the rich picture (Elliott, 2004, p. 190).

As it has been stressed previously, the key concern of the Harvey Norman company is its declining reputation and the ways to save it from a permanent damnation by its once loyal customers.

The given achievement can be attained by improving the quality of the services, as well as honest policies in relationships with suppliers, in contrast to the one that the company used to pursue.

Therefore, the following steps must be undertaken to change the current deplorable state of the company and restore its once high rank among the rest of the enterprises:

• Introducing the Virtual Merchant Model;
• Creating an online information database;
• Developing a report that will help check the progress of every single affiliate;
• Creating a system of company progress measurement and the affiliates performance assessment.

All the affiliates of the Harvey Norman Company should be involved into the system evaluation and improvement process.

Once all the necessary steps have been taken, the company will be referred to as a decent enterprise with clear policy and services of high quality, while the issue with the Harvey Norman Franchise Model will be long forgotten.

APAIS: Australian public affairs information service , 2000, National Library of Australia, Melbourne, AU.

Buchan, J, 2013, franchisees as consumers: benchmarks, perspectives and consequences, Springer, Kensington, NSW.

Chait, R, Ryan, W P, & Taylor, B E, 2011, Governance as leadership: retaining the work of nonprofit boards . Web.

Elliott, G, 2004, Global business information technology: an integrated system approach , Pearson Education Ltd., Harlow, UK.

Kenneth, R & Salini, K, 2011, Modern analysis of customer surveys: with applications using R , Wiley, New York, NY.

Koch, D, 2006, Kochie’s guide to keeping it real , Murdoch Books, St. Leonard, NSW.

Kurby, J & Drury, B, 2012, Investing for dummies , John Wiley & Sons, New York, NY.

Leeman, J J A, 2010, Supply chain management: fast, flexible supply chains in manufacturing and retailing, Books on Demand, Dusseldorf, DE.

Roth, M, 2011, Top stocks 2012: a sharebuyer’s guide to leading Australian companies , Joh Wiley & Sons, New York, NY.

Targowski, A, 2003, Electronic enterprise: strategy and architecture , IGI, Hershey, PA.

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Sample Essay On Significance Of Customer Segmentation For Effective Value Proposition

Type of paper: Essay

Topic: Value , Business , Proposition , Value Proposition , Customers , Customer , Model , Google

Words: 2000

Published: 03/08/2023

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In the context of contemporary global business environment, a good business model describes the logical functioning of a business/organization and it pronounces the specific manner in which a business makes profit. Principle description of a business model helps to understand, analyze, and communicate the key factors of success or failure of a business. Principally, a well-developed business model is comprised of three major components i.e. value proposition, value chain structure, and revenue model. The value proposition is the first and the most significant component of a business model as it directly communicates the business value to the customers. The value proposition of a business model describes the benefits and value, the customer and value partners receives from a particular business model. Therefore, having a delineated and precise customers/value partner segmentation is fundamental for effective value propositioning of a business (Osterwalder & Pigneur, 2013). Considering these particulars, this paper focuses on discussing the significance of appropriate customer segmentation for developing a good value proposition. It primarily articulates the examples of some good and bad value propositions from the real life business and also explains the significance of adequate customer segmentation for crafting a winning value proposition.

Why a Business Model Need Value Proposition?

Value Proposition (customer value creation) is a special blend of product, price, service, special relationship, and image factors of a business to the customers (Payne & Frow, 2014). As discussed above, a value proposition is lifeblood of a business model. Value proposition primarily aims at two major segments that are mentioned below: Targeted Segment/s of Customer: The value proposition describes the benefits obtained by the customer. The business model is defined not on an existing product but on the benefits generated and the satisfaction of customers’ needs. By consciously determining what needs to be satisfied, the value proposition also implies the activities that should not be exercised by the company. This ‘negative’ selection is critical to preserving the business focus (Campos, 2014, p.243). Value Partners: Part of the value proposition is not only the description of the benefits for the end customer but also for partners of the value chain. The value proposition includes the benefits to the value-added partner i.e. pull or complementary suppliers. Hence, a value proposition is fundamental for a business in order to determine the segments of the customers that will be precisely served and the partners that will be involved in the value addition. This is essential to be considered in order to know what benefits would arise in the business model from the product/service provided by the integration (Corvellec & Hultman, 2014).

Example of a Good Value Proposition

Value Proposition is an assurance of benefit/value to be recognized and delivered to the customer. The value proposition can be practically applied not only to a part or the entire organization but also to the products, services, and customer accounts. The foremost component of a corporate strategy is the creation of a value proposition. A good value proposition is founded on the cost/benefit analysis and the value that a business can offer to its existing and potential customers, as well as, other members within and outside the value chain. Considering the examples of real life business, there are numerous business organizations that have successfully nailed their unique value propositions such as Google, iTunes, Intuit, Scribd, Stripe and Viggle. One of the most common examples of the good value proposition is of Google Inc. (Osterwalder et.al, 2014, p.237). Google Inc. offers an extensive range of free services such as Google Search, Google Mail, Google Finance, Google Talk, Google News, Google Voice, Picasa, Google Sites, AdSense, and AdWords. Each of this service line of Google Inc. has a precise value proposition with a defined set of targeted customers. For instance, the value proposition of Google Search is “Google Search allows pin point accuracy with the state of the art search engine developed by the innovators at Google”. Likewise, the value proposition of Google AdSense is, “To allow advertisers to display advertisement in the Google content network. These ads are displayed along the search results when someone inputs a query into the Google search engine” (Osterwalder & Pigneur, 2013). The business canvas model of Google Inc. (Appendix I: Image, 1) further elaborates the value propositions of difference services of Google against its targeted segments of customers.

Example of a Bad Value Proposition

Sometimes, business organizations and especially marketers need to realize that their value proposition is not at all delivering value to its customers (Chandler et.al, 2014, p.250). For instance, the value proposition of CloudFlare (See Appendix I: Image, 3) is appalling as it completely relies on a video and does not contain any words, which means that if the customers don’t like to play video, they will remain unaware of their business value and benefits they offered. A business should not depend merely on a video because it is a supplementary factor. Therefore, the value proposition has to be in the word for long-term affectivity. Moreover, the only statement they use is, “We will supercharge your Website”, which actually does not deliver any sense that what their product or service will be all about. They need to deliver the value they offer as the value or use of a product/service is the motive why customers goes in favor of or against a brand. It satisfies a need of the customer or solves a problem. Another example of a bad value proposition can be taken from the ‘Continuum Financials’ (See Appendix I: Image, 4). The website drastically wastes the precious attention of the customers through the headline ‘Welcome to Our Website' instead of placing a catchy phrase, slogan, or a tagline on the top. Secondly, the entire text mentioned is written in the context of ‘First Person’; however, a value proposition must be written by keeping customers in mind i.e. it has to be in context of ‘Second or Third Person’. In the case of Stripe, they specifically defined their customer segment by using the word ‘Developers’. The above-mentioned examples of value propositions do not clearly designate the products/services that make up the value for a specific segment of the customer (Campos, 2014, p. 244).

Significance of Customer Segmentation Effective Value Proposition

The above-discussed examples elucidate that a value proposition is only considered to be good if it successfully put forth the unique benefits of unique products/services and stand out the business from its competition while stimulating consumers to buy (Emerson, 2003, p.39). It is also noticeable that every value proposition has a defined set of the customers, which make it easier for the business to maintain its operational, functional and financial focus. Precise customer segmentation is extremely important for developing an effective value proposition as it represents the different target groups for the organizations who the business want to achieve. Moreover, the customers are the heart of every business model and a business cannot survive permanently without profitable customers (Keränen & Jalkala, 2014). To better serve customers, it is essential to adequately segment them in order to find out their specific needs, behaviors, or other attributes. Therefore, a value proposition in a business model defined in the rule, one or more, large or small customer segments (Lindic & Marques da Silva, 201, p. 1697). Then, it is a decision that a business needs to find out that on which segments it wants to concentrate and which are to be neglected while keeping the financial resources in mind (Christopher et.al, 2013). Based on these customer needs, a business model is then developed to fulfill those needs through their unique product or service. The use or value arises from the totality of the products and/or services related to the requirements of a specific customer segment. Additionally, appropriate segmentation is significant for developing a winning value proposition as it facilitates a business identifying its target market, defining the relevant market as a whole, determining the relevant submarkets, and locating the neglected parts of markets (market gaps, market niches). By doing so, it enables an organization to satisfy customers’ needs in a better way while achieving a competitive advantage over its competitors (Barnes et.al, 2009). Suitable segmentation can also help an organization in the aspects like avoiding the substitution effects between markets in their own product range; timely evaluating new products of competitors and the timely application of countermeasures; overall brand positioning compared to the positioning of competitors; correct positioning of new products; clarifying target groups of imported brands (possibly repositioning); forecasting (segment specific) market development; derivating market reaction functions; using selective marketing instruments; optimally allocating marketing budgets to individual segments and increasing the levels of target achievement (increase in profit or turnover) (Frow & Payne, 2011, p.223). In a nut shell, the benefits of appropriate customer segmentation are not only restricted to the development of a winning value proposition but they are actually endless. The discussion and the real business examples of good and bad value proposition elucidate that if a business has established the solid foundation, it will remain steadfast, focused, and stringently aligned to its target market. In other words, value proposition is the core pillar of the entire business model and similar customer segmentation is the mainstay of value propositions. Therefore, in order to develop a successful business model and a winning value proposition, delineated customer segmentation is imperative (Pisano, 2015, p.45).

Armstrong, G., Adam, S., Denize, S., and Kotler, P., 2014. Principles of marketing. Pearson Australia. Retrieved on April 13, 2016 Barnes, C., Blake, H., and Pinder, D., 2009. Creating and delivering your value proposition: Managing customer experience for profit. Kogan Page Publishers. Retrieved on April 13, 2016 Campos, N.M., 2014. Business Model Generation: A handbook for visionaries, game changers, and challengers. RAE, 54(2), pp.243-244. Retrieved on April 13, 2016 Chandler, G.N., Broberg, J.C. and Allison, T.H., 2014. Customer Value Propositions in Declining Industries: Differences between Industry Representative and High‐Growth Firms. Strategic Entrepreneurship Journal, 8(3), pp.234-253. Retrieved on April 13, 2016 Christopher, M., Payne, A. and Ballantyne, D., 2013. Relationship marketing. Taylor & Francis. Corvellec, H., and Hultman, J., 2014. Managing the politics of value propositions. Marketing Theory, p.1470593114523445. Retrieved on April 13, 2016 Emerson, J., 2003. The blended value proposition: Integrating social and financial returns. California management review, 45(4), pp.35-51. Retrieved on April 13, 2016 Frow, P. and Payne, A., 2011. A stakeholder perspective of the value proposition concept. European journal of marketing, 45(1/2), pp.223-240. Retrieved on April 13, 2016 Keränen, J. and Jalkala, A., 2014. Three strategies for customer value assessment in business markets. Management Decision, 52(1), pp.79-100. Retrieved on April 13, 2016 Lindic, J. and Marques da Silva, C., (2011), “Value proposition as a catalyst for a customer focused Innovation”, Management Decision, Vol. 49 Issue 10 pp. 1694 – 1708. Retrieved on April 13, 2016 Osterwalder, A. and Pigneur, Y., 2013. Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons. Retrieved on April 13, 2016 Osterwalder, A., Pigneur, Y., Bernarda, G. and Smith, A., 2015. Value Proposition Design: How to Create Products and Services Customers Want. John Wiley & Sons. Retrieved on April 13, 2016 Payne, A. and Frow, P., 2014. Deconstructing the value proposition of an innovation exemplar. European Journal of Marketing, 48(1/2), pp.237-270. Retrieved on April 13, 2016 Pisano, G.P., 2015. You need an innovation strategy. Harvard Business Review, 93(6), pp.44-54. Retrieved on April 13, 2016 Rytkönen, E. and Nenonen, S., 2014. The Business Model Canvas in university campus management. Intelligent Buildings International, 6(3), pp.138-154. Retrieved on April 13, 2016 Appendix I Image 01: Retrieved From: https://bmimatters.com/tag/business-model-canvas-examples/ Image 02: Retrieved From: https://sumome.com/stories/value-proposition-examples Image 03: http://conversionxl.com/value-proposition-examples-how-to-create/ Image 04: Retrieved From: http://conversionxl.com/value-proposition-examples-how-to-create/

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Value Propositions for a Company

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A value proposition is a statement outlining the set of values and benefits that a certain company intends to confer on its customers (Barnes et al, 2009). It is not a marketing strategy or slogan but serves to attract customers to the product thus not choosing the competitor products. There are five types of value propositions that a company can use in its strategies. The first strategy is the more for more propositions which provides more benefits to the customers by increasing the price of the products. In so doing, the company may be trying to justify an increment in the price of a popular product. An example is the case of a car manufacturer that improves the features of a car thus increasing its price. The company could come up with a statement that says: To high class responsible drivers who need to always be in control, Mercedes is a state of the art car that gives you maneuvering features therefore making you more comfortable as you drive.

The second type of proposition is the more for same proposition that justifies a company offering the consumers more benefits at the same price. This proposition is more appealing to the consumers because they pay little amount of money for more benefits. The use of this proposition is a good strategy of pulling consumers that would have otherwise purchased the benefits at higher prices. One example would be the improvement of the quality of a detergent but still maintaining the same price. For example, Aerial may use better chemicals that fight off germs and stains and still maintain the same price. For instance, they could say: To jubilant and responsible mothers who need better quality in laundry, Aerial is tough on stains and soft on skin therefore improving the laundry experience at the same price.

The more for less proposition is also appealing to the consumers as it communicates a company’s willingness to increase the benefits of a certain product while reducing its price (Osterwalder & Papadakos, 2014). Normally, the proposition is hard to achieve among many companies and is usually used in times of stiff competition. However, the increased in benefits does not also mean an improvement in the tangible benefits but rather a better customer service experience. For example, Toyota Company may improve the comfortability of the seats for its brand while offering a warranty of one year. This proposition may be structured as: To sensitive and high class drivers who require more leg room and comfort, Toyota has now increased the leg room for all the five seats of its car while increasing the warranty of the cars by an extra one year.

In the fourth proposition, the same for less, a company may be reducing the price of a commodity or service while maintaining the same quality.  A supermarket may for instance reduce the price of its products to levels lower than its competitors. In such instances, it can state the following: To price conscious shoppers who need the same products at lower prices, Wal-Mart store always offers lower prices for the same products while maintain the same excellent customer service experience.

The last proposition is known as the less for much less proposition and communicates a decision to lower the benefits accrued from a certain product while reducing the price for the same. This is a strategy targeted at lower end consumers who prefer cheaper substitutes for highly priced products. For instance, a retail store may state as thus: To price conscious and saving customers who prefer substitutes, Uchumi is a second hand retail store that offers cheaper products that serves the same needs of the consumer.

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

Osterwalder, A., & Papadakos, T. (2014). Get started with … Value proposition design: How to create products and services customers want . Hoboken, NJ: Wiley.

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