Finding Value in Your Value Proposition
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Transcript of Finding Value in Your Value Proposition
Finding Value in Your Value Proposition
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James AtkinsJuly 2014
Price is what you pay.Value is what you get.
– Warren Buffet, Chairman, Berkshire Hathaway
Price is what you pay.Value is what you get.
– Warren Buffet, Chairman, Berkshire Hathaway
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4
Clear & Concise
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Clear & Concise
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Evernote apps and products make modern life
manageable, by letting you easily collect and find
everything that matters
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Great tasting healthy juices & snacks made
and served by people who love life....
But how?
1. Being clear on your Total Offer
2. Having a Sustainable Competitive Advantage
3. Meeting Customer Needs & Problems
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1. Being clear on your Total Offer
2. Having a Sustainable Competitive Advantage
3. Meeting Customer Needs & Problems
BrandEssence
our DNA
Featureswhat we offer
Benefitsto our customer
Imagehow we want to be seen
CompetitiveAdvantagehow we will win
Value PropositionWheel
Valueshow we will work &what we hold true
BrandEssence
our DNA
Featureswhat we offer
Benefitsto our customer
Proof Pointshow we
demonstrate value
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Brand Essence
Features Benefits
Image
Competitive AdvantageCool
The Boost Experience
Fresh
Energetic
Feel Great
Have Fun
FreshIngredients
Love Life
Values
Proof Points
The Team New Products
Be Healthy
Have Fun
Can Do Attitude
Have Fun
Made inStore
Honesty
Love Life
98% Fat Free No Additives
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Great tasting healthy juices & snacks made
and served by people who love life....
Workbook Exercise
BrandEssenceour DNA
Featureswhat we offer
Benefitsto our customer
Proof Pointshow we
demonstrate value
Imagehow we want to be seen
CompetitiveAdvantage
how we will win1) Are there elements
missing or lacking
clarity?
2) Do they all work
together to create a
compelling value
proposition?
3) How would you
summarise in one
sentence?13
Valueshow we will work &what we hold true
Proof Pointshow we
demonstrate value
1) Are there elements
missing or lacking
clarity?
2) Do they all work
together to create a
compelling value
proposition?
3) How would you
summarise in one
sentence?
If you don’t have a competitiveadvantage,
DON’T COMPETEJack Welch
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Determining Competitive Advantage
• Sustainable
• Hard to copy
• Unique
• Superior to the competition
• Applicable to multiple situations
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• Sustainable
• Hard to copy
• Unique
• Superior to the competition
• Applicable to multiple situations
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Determining Competitive Advantage
Key SuccessFactor
(A)
Value ToCustomer
(B)
Current AbilityTo Beat
Competitor(C)
InternalImpact
(D)
Total
(E)
1. Service 72. Innovation 53. Price 64. Technology 7
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4. Technology 75. Quality 76. Management 37. Response Time 9 7 8 178. Best people 9 6 7 169. Brand name 610. Rate of change 8 6 5 13
We will win by...having the best response time
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Meeting Customer Needs and Problems
COREPRODUCT20% Impact80% Costs
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COREPRODUCT20% Impact80% Costs
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Gym
Not openwhen I want
Tied in foryears
Toocrowded
Old equipment
Weekly Fees
NoClasses
Start of the ArtEquipment
Open 24/7
NoContracts
GymTied in foryears
Full of musclebound gorillas
Can’t use whenI travel
Expensive
Not convenient
BigNetwork
Weekly FeesNo
Contracts
FamilyMemberships
Exercise
1) What are your customers
real problems and needs?
2) How could you refine your
offer to meet these needs
and solve the problems?
3) How could you deliver
across the customer touch
points?
COREPRODUCT20% Impact80% Costs
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1) What are your customers
real problems and needs?
2) How could you refine your
offer to meet these needs
and solve the problems?
3) How could you deliver
across the customer touch
points?
Wrapping Up
1. Being clear on your Total Offer
2. Having a Sustainable Competitive Advantage
3. Meeting Customer Needs & Problems
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1. Being clear on your Total Offer
2. Having a Sustainable Competitive Advantage
3. Meeting Customer Needs & Problems
Finding Value in Your Value Proposition
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Questions?
Subscribe: www.vantagemarketing.com.au
Contact: James [email protected]+61 3 9836 0491
Finding Value in Your Value Proposition
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Subscribe: www.vantagemarketing.com.au
Contact: James [email protected]+61 3 9836 0491
Copyright- Vantage Strategy & Marketing, 2014