Value Propositions That Work
I came across a blog from Harvard Business Review with the title above. It is written by Anthony K. Tjan I think this one of those no-nonsense blogs that are amazingly useful. This is what Tony says:
"Most people can’t explain what their company does — its value proposition. Consider that there are only four types of consumer benefits that matter and by extension only four categories of value propositions that work."
- Best Quality: Think of brands that set a standard
- Best bang for the buck: Some consumers will always buy on price. Best-in-class value doesn’t always mean lowest price, however, but rather the best quality-to-price ratio.
- Luxury and aspiration: On the other end of the spectrum from bang-for-buck players. In High Tech this needs a translation. Apple tablet are fantastic, expensive but largely unnecessary . The latest entrant in Tesla Motors, with a $100k Ferrari killer electric car.
- Must-have: Again in high tech it needs translation
"Figure out how to reposition your offering. Stop being stuck in the middle and aim to set a new standard."
|Tony Tjan with Arriana Huffington|