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

• Structure:  what does a good value proposition look like?

• Targeting:  who will purchase this product or service?

• Identifing significant benefits:  what important problems does this solve for the target customer?

• Quantifying Benefits:  how much value does this create and what might be charged?

• 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.