Question
A value proposition addresses the problems of a specific target group by first identifying the target group and understanding their specific problems. Then, it outlines how the product or service can solve these problems. The value proposition should clearly communicate the unique benefits the product or service provides to the target group, differentiating it from competitors. It should also highlight the specific ways in which it will improve the target group's situation or solve their problems.
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So how do you actually create a value prop? First, identify your target, then the problem they are struggling with, followed by the scope that your product addresses, the solution it offers, and the benefit(s) users ultimately receive. In our example, the target is commuters. Their problem is sitting in traffic for hours at a time on workdays, or worse, being late for work because of traffic. The scope is navigational ease. The solution is an app that offers real-time data on the least-congested routes that take users to their intended destination. The benefit is hours saved each week and no more tardiness. (Slide 6)
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