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The Value Proposition of a product is a formal statement describing the competit

by | Aug 30, 2022 | Marketing | 0 comments

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The Value Proposition of a product is a formal statement describing the competitive advantage of a new product for a given market segment.
When executing a Job-to-be-Done, this Product Attribute(s) helps these Job Executors to address this Outcome(s) as compared to this Reference.
“Let’s look at an example. Imagine that you’ve created a grocery delivery service called FoodQuix. For this product, customers place their orders on a smartphone. The groceries show up within 2-4 hours. To build the value proposition, we begin with the five components:
JTBD: Stock the home with groceries
Job Executors (customers): Grocery shoppers
Outcome(s): 1) Minimize the time to shop for groceries, 2) Minimize the time to receive groceries
Product Attributes: Delivery service, Phone app
Reference: Driving to the store
Here’s our Value Proposition:
When stocking the home with groceries, FoodQuix’s home delivery service and app minimize the time for shopping and receiving groceries as compared to driving to the local grocery store. ”
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