Marketing Generics Application Note:
Anatomy of a Value Prop
As markets get more competitive, product choice proliferate, and customers become more demanding, marketers struggle to explain why their product is best, or why customers should chose their product rather than the competitors’. Marketers are therefore increasingly turning their attention today to something that could help them – the Value Proposition - often called the Value Prop for short. Value Props are a key part of the marketers armoury in both B2B and B2C markets, although this Application Note focuses on the Value Prop in B2B markets.
Many products and services, particularly in B2B tech / high-tech areas tend to focus on features, the hard spec, or the datasheet, instead of communicating the real value that their products or services provide to customers. There are several reasons why companies focus on features and not the value, and in tech companies these include being in a culture where performance, specification and features are predominant, and where technical performance alone is assumed to be sufficient to convince the customer to buy your product. This Application Note analyses the anatomy of a Value Prop and the main steps of how to build one.
Keywords: Value Prop, the Value Proposition, B2B Value Prop, What is a Value Proposition?, How do you create a Value Proposition?, Use the Value Prop Ladder, Good Bad and Ugly Value Props,For which activities and industries is a Value Prop valid?, How long does it take to produce a good Value Prop?,