Wk3-02 Value Propositions Presentation
Welcome to module three. Once we choose the most important customer segment, the next big decision we need to make is what value propositions can we create and deliver to the customer segment in a way that builds strong customer trust and loyalty and gives us a respectable profit for sale? At the basic level, value propositions are the reasons why customers turn to one company over another. The value propositions are typically a bundle of products, services, and benefits. Some benefits maybe represent a breakthrough innovation, like iTunes or Uber. Or the benefits may be similar to existing products and services but offers new features and functions that are indeed important to the customer segment. Value propositions typically fall into three categories. The first one, is quantitative. Creating new value by improving speed of service, price for quality, or adding new features or improvements. These value propositions are sometimes called getting the job done or price competitiveness, or convenience. Perhaps Walmart is a good example of this. The next category, is called qualitative, creating products and services that improve custom experience via new designs by improved emotional interfaces. These value propositions are called performance or customization or status enhancement including helping one, someone improve their personal brand. The last category is called game changing. This is where your creating products and services that truly disrupt an industry. Again, think Uber. These Value Propositions are sometimes called product newness or creating a new industry category or human based innovations that truly change the world for the better. To better help us understand the value propositions building block, Alex and Deeds also invented the Value Propositions Canvas. On the right side of the Value Propositions Canvas, are the customers jobs, the customer pains and the customer gains On the left side of the canvass are the products and services, the pain relievers, and the gain creators. Let's look at all six elements through the lens of the new Career Readiness Mobile Learning Program, designed with parents of college-aged students in mind. The customer jobs might be to help their sons and daughters find the jobs and careers of their dreams, and to make the most of a college education investments. Customer pains could be that parents are worried about the common stories of young people not able find when and retain good jobs after completing college. Customer gains could be that they're looking for a peace of mind that their sons and daughters will know how to identify and when a highly satisfying job in their career area. Now, let's look at the less side of the canvas, the pain relievers Perhaps the new Career Readiness Mobile Learning Program will help their children have access to a high quality career planning program that includes upon successful completion Access to a career coach. Gain Creators, peace of mind that qualified career planning professionals are educating their children on how to develop a winning Career Plan. Products and services. What we are trying to do is provide career planning services that are affordable, mobile and result in an aggressive, creative, and implementable career plan. Okay. Let's turn back to the business model canvas. For my project, I'm thinking the key value propositions are, number 1, the parents, sons and daughters will win great jobs in highly satisfying careers that have long-term potential. Where as another value proposition, the parents will have a strong sense of confidence that their children are getting career planning advise and tools that are researched validated and proven to work. Value proposition number three. The new career planning knowledge and tools will be available to their children on an engaging and fun mobile learning platform think game application that will help their children understand and learn how to develop these new career planning skills They are going to help them get the job of their dreams. Next, let's talk about your module three assignments. First, make sure you participate in a discussion and answer the question, "What is the most important thing I learned while watching the animated video titled prototyping?" Second, there are two application assignments. Again, with your idea in mind, it's now your turn to identify your customer segments jobs, pains, and gains and then explain how your new idea, which is a product or service, or both, will be a pain reliever and a gain creator. Then add your top three value propositions to your business model canvas. Good luck and we'll get together again at the beginning of module four.
