Value Proposition

Question 1

value proposition

Answer 1

• What are you doing
• helps understand patterns of value creation
• leverage the experience and skills of your team
• avoid wasting time on ideas that will not work

Question 2

how to state your value propostion

Answer 2

• for
• who
• the (product name) is a (product category)
• that (statement of key benefit)

Question 3

for

Answer 3

target customer, the segment you are trying to solve a problem for

Question 4

who

Answer 4

statement of monetizable pain, who is experiencing problem/pain

Question 5

the (product name) is a (product category)

Answer 5

the product you are offering

Question 6

that (statement of key benefit)

Answer 6

the unique value you are offering

Question 7

types of customer jobs

Answer 7

what are customers trying to get done in their work and in their lives expressed in their own words

• functional
• social
• emotional

Customers are often looking for their products to fulfill multiple jobs

Question 8

functional

Answer 8

• functional nature, the job you want to get done, focus on the task
• Mow the lawn, eat healthy

Question 9

social

Answer 9

• look trendy, how people perceive you – customer wants to look good
• By hiring this product/ service you can look trendy
• How customers want to be perceived by others

Question 10

emotional

Answer 10

• peace of mind, feeling secure

Question 11

supporting job

Answer 11

• buyer of value
• cocreate of value
• transfer of value

Question 12

buyer of value

Answer 12

• jobs relate to buying value.

- Such as comparing offers, deciding that products to buy, completing a purchase

Question 13

cocreate of value

Answer 13

• jobs related to co-creating value with your organization.

- Such as posting product reviews, feedback

Question 14

transfer of value

Answer 14

• jobs related to the end of a value propostion’s life cyle.
  Such as cancelling a subscription, disposing of a product, reselling it.

Question 15

customer pain

Answer 15

Anything that annoys the customers before, during, and after trying to get a job done (something that prevents them)

Pains describe risks – potential bad outcomes related from getting a job done (undesired outcomes, problems and characteristics)

Obstacles

Pain severity – can be extreme or moderate

Question 16

customer gains

Answer 16

The outcomes and benefits your customers want

Gains include functional utility, social gains, positive emotions, and cost-saving

Question 17

types of gain

Answer 17

• required
• expected
• desired
• unexpected

Question 18

required gains

Answer 18

gains without which a solution would not work (can call with a phone)

Question 19

expected gains

Answer 19

basic gains that we expect from a solution, even if it could work without them

Question 20

desired gains

Answer 20

gains that go beyons what we expect from a solution but we would like to have them (customer would come up with it if asked)

Question 21

unexpected gains

Answer 21

gains that go beyond customer expectations and desires (would not be able to come up with if asked)

Question 22

value map components

Answer 22

• products and services
• gain creators
• pain relivers

the one in the box

Question 23

products and services

Answer 23

A list of products and services your value proposition is built around

Tangible (physical products) and intangible (copy rights, patents)

Question 24

gain creators

Answer 24

• Describe how your products ans services create customer gains
• Focus on the ones that are relevant

Question 25

pain relivers

Answer 25

• Describe how your products and services alleviate customer pains
• Focus on extreme pain points

Question 26

importance of fit

Answer 26

Achieved when customers get excited about your value proposition

• happens when you address import jobs, alleviate extreme pain points and create essential gains that customers care about

Question 27

three kinds of fit

Answer 27

On paper – problem-solution fit

In the market – product-market fit

In the bank – business model fit