Industrial Market Insight has identified five dimensions of the value proposition, each of which must be done well in order for a new product to be successful.
5 Dimensions of the Value Proposition
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Structure: what does a good value proposition look like?
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Targeting: who will purchase this product or service?
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Identifing significant benefits: what important problems does this solve for the target customer?
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Quantifying Benefits: how much value does this create and what might be charged?
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Differentiating Solutions: how is this superior to direct and indirect competition?
By focusing on these 5 areas, you can be sure that your product or service will solve a problem that is important to customers and they will be glad to purchase from you.
More information can be found in the video “5 Dimensions of the Value Proposition” below.
