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MKTG 143 ORALS

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Question:

Value Proposition Canvas (VMC)

Author: JUAN LOUIS SANTO DOMINGO



Answer:

Value Proposition Design is about achieving product-market fit. In this vision of value-based innovation, products and services only have value to the degree they assist in helping people get their job(s) done. Your goal is to develop relevant and realistic value propositions for your target market. The Value Proposition Canvas (VPC) is a necessary tool in building your Business Model Canvas (BMC).  It can help you to: - Precisely define your customer profiles: Identify your customer's major Jobs-to-be-done, the Pains they face when trying to accomplish their Jobs-to-be-done and the Gains they perceive by getting their jobs done. - Visualize the value you create: Define the most important components of your offering, how you relieve pain and create gains for your customers. - Achieve Product-Market fit: Adjust your Value Proposition based on the insights you learned from customer evidence and achieve Product-Market fit. The VPC is actually an expansion of the BMC's Value Proposition and Customer Segments portions.


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Value Proposition Design is about achieving product-market fit. In this vision of value-based innovation, products and services only have value to the degree they assist in helping people get their job(s) done.

Your goal is to develop relevant and realistic value propositions for your target market.

The Value Proposition Canvas (VPC) is a necessary tool in building your Business Model Canvas (BMC).  It can help you to:

- Precisely define your customer profiles: Identify your customer's major Jobs-to-be-done, the Pains they face when trying to accomplish their Jobs-to-be-done and the Gains they perceive by getting their jobs done.
- Visualize the value you create: Define the most important components of your offering, how you relieve pain and create gains for your customers.
- Achieve Product-Market fit: Adjust your Value Proposition based on the insights you learned from customer evidence and achieve Product-Market fit.

The VPC is actually an expansion of the BMC's Value Proposition and Customer Segments portions.
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