~Key trends, industry forces, market forces, macro economic forces
Value Proposition - ANSWER- -What value do we deliver to the customer?
-Which one of our customer's problems are we helping to solve? -What bundles
of products and services are we offering to each Customer Segment?
-Which customer needs are we satisfying?
Value proposition-textbook definition - ANSWER- Value propositions describe the
bundle of products and services that create value for a specific customer
segment
-The value proposition is the reason why customers turn to one company over
another
-It solves a customer problem or satisfies a customer need
-The value proposition is an aggregation or bundle of benefits that a company
offers customers
, Value Proposition Characteristics (11)
(things that contribute to customer value creation) - ANSWER- -Newness (satisfy
an entirely new set of needs that customers previously didn't perceive because
there were no similar offerings. Usually tech related-cell phones)
-Performance (improving product or service performance)
-Customization (tailoring products and services to the specific needs of
individual customers or customer segments)
-"Getting the Job Done" (Helping customers get certain jobs done)
-Design (a product may stand out because of superior design)
-Brand/Status (customers find value in wearing a brand)
-Price (similiar value at a lower price)
-Cost Reduction (helping customers reduce cost)
-Risk Reduction (reducing risk they incur when purchasing products or services)-
1 yr service guarantee
-Accessibility (making products/services available to customers who previously
lacked access to them)
-Convenience/Usability (making things more convenient or easier to use)
NPCG DBP CR AC
Customer Segments - ANSWER- -For whom are we creating value?
-Who are our most important customers?
-What are the criteria for segmentation (gender, age, income, geographic, needs,
wants, behavior)?
-What are potential customers - know but not reached or addressed?
-What are future customers - existing groups not yet on the radar?
Customer Segments textbook definition - ANSWER- The different groups of
people or organizations an enterprise aims to reach and serve
-In order to better satisfy customers, a company may group them into distinct
segments with common needs, common behaviors, or other attributes
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