The value proposition defines the benefits the company adds to products and services so as to offer to the customers. 

Comment on, or make suggestions about both value propositions for their selected product or service.

DQ 1

The value proposition defines the benefits the company adds to products and services so as to offer to the customers. It is a valuable tool that guides the marketing efforts and helps in creating strong differentiation with competitors. Value proposition helps in increasing the revenue and improve the operational efficiency. Elements of value proposition include tagline, target customers, benefits, intensity of competition, requirements, provider, etc. For example, while introducing the new toothpaste to deal with sensitivity, an organization first defines the probable causes of sensitivity along with the problems, usually people face while eating different kind of food items. After providing the base information, the company introduces its product that can reflect the value of the product for the people dealing with sensitivity. In order to further add the value, the organization offers free dental check up to discuss the gums and teeth problems and benefits of the product in dealing with these problems.

Thus, explaining the relevancy of the product solves the problem of the customers and this on the other hand, improves the probability of larger market share. It is important to deliver specific benefit and tell the ideal customer about the objective for buying the product. It helps the organization in creating the unique differentiation for the product and makes the competitive edge followed by better capturing of market. While creating the value proposition it is important for the organization to use the language as per the convenience of customers. The language must have the ability to join the conversation. It is important to note that, just a tagline is not considered as a value proposition, it is just the positioning statement. For example, L’oreal. Because we are worth it, is just a positioning statement.

References: http://www.techdata.com/tdagency/vendorconnect/FY14TDAgencyWebsite%20Giveaway[1].pdf

DQ 2

A value proposition is essential to every organization as it describes the purpose of the business. In fact, a value proposition is part of the business plan and guides the marketing efforts. Value proposition is a marketing statement that summarizes why the consumer should buy the product or service. It is usually considered as the Unique Selling Proposition (USP) to gain the competitive advantage. In the process of identifying the value proposition, the business gains an in-depth knowledge of the competition. The business would have a clear understanding of their competitors, their key benefits and the target audience. Since there is an in-depth knowledge of the rival, the business would be able to better position itself successfully in the industry.

The three components in creating and implementing a value proposition are:

Target marke:

Value or benefits of the product or service

Problem you solve

Target market- It is important that the company identifies its target market. It is the area where the company can provide a huge bulk of its sales. It is pertinent that the company identifies the ideal customers. The value proposition needs to be shaped in such a way that it meets the target customer’s expectations.

Benefits of the product/service-:The Company should clearly state why the customers need to buy the products or services among all other available choices. For example, some companies offer quality products and some companies offer low-cost products.

Problem you solve:This element includes how a company meets the needs and desires of the customers. This element refers to the emotional appeal as it involves building relationships with the customers which eventually enhances the brand loyalty for the product or service.

I am interested in Samsung mobiles. The value proposition for the Samsung mobiles are:

Target audience- The prices are reasonable and market for the economic class of people. Being that it has all the important features of an Android phone, customers prefer this product over any other. I personally prefer this product because the prices are reasonable, unlike the iPhone.

Benefits of the product- It is a highly reputable organization that is known across the globe; it offers quality mobile phones at lower-costs.

Resolve problems- I expect clarity in cameras and sound quality from a good mobile device.