What is a booster option and how can it enhance the value perceived by customers?

A booster option is a strategy used by businesses to enhance the perceived value of their products or services. It can be any additional feature or benefit that gives a "boost" to the overall value proposition. For instance, a limited-time sale can serve as a booster option, temporarily increasing the perceived value and potentially ranking your pricing score higher. The aim is to make the product or service more attractive to customers, thereby improving the overall value. It's important to note that the effectiveness of a booster option can vary based on the specific needs and preferences of the target customer group.

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You can also use data from customer surveys to create a perceived value comparison table, which lists critical success factors that can be weighted and scored according to your company's most important components. These scores can then be compared against a "booster option" to include a little kick to each critical success factor. For example, a limited-time sale can temporarily boost the value perceived by customers, which would rank your pricing score higher. This functionality helps assess where boosters can improve your overall value. (Slide 25)

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Value Proposition (Part 2)

How do you communicate your value to customers? Use this presentation template to create your own Value Proposition Canvas and dive into the most impo...

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