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Real-world scenarios that could benefit from implementing the Product Value Proposition include:
1. Startups launching a new product: They can use the Product Value Proposition to identify and focus on the needs that their product will address, and why it's better than alternatives in the market.
2. Established companies introducing a new feature or improving an existing product: They can use it to identify the 'must-have' features and the 'delighters' that will set their product apart from competitors.
3. Companies struggling with product-market fit: They can revisit their Product Value Proposition to better align their product with customer needs and expectations.
Asked on the following book summary:
Why do so many products fail? It's not because they are built or marketed poorly, but because they don’t delight customers. Read this book summary for...
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Focusing on a specific set of related needs is crucial to creating a great product. The Product Value Proposition helps select the needs to address and why it is better than the market alternatives. The Must-have features are necessary for the product. Therefore, the core differentiators are the performance features to compete in and the delighters that are added.
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