What are the key actions you need to take to deliver your Value Proposition to your Customers?
What have you done to test your Value Proposition?
What will you do if it turns out that your original Value Proposition is not resonating with your Customers?In the Week 3 Discussion, you introduced your Value Proposition. Now you are going to take this to the next level. (Week 3 Discussion below for reference for these questions).
“RE: Week 3 Discussion
Customers and clients typically benefit from the creation of value. Employers, stockholders, and businesses as a whole may also help. Value for the customer can be interpreted as several different things, including a low price, getting what the customer wants, getting good value for money, or getting something else in return for an investment (Mohd Satar et al., 2019). As an intrapreneur I would like to come up with a way to send files using Bluetooth from my Iphone. As a case product, Apple iPhone is one competitive product in an oversaturated customer electronic marketplace. Apple has firmly reiterated its value proposition among a range of products, including the device design and the easiness of its usage. According to apple, a phone should be more than just a collection of features. The company has then opted to concentrate on the smartphone experience during use, creating value and proposition.
The most valuable customers are Americans since they give a 37.47% of net sales in billion US dollars (Osterwalder et al., 2015). Apple Company, therefore, keeps this demographic at the forefront of its mind. Clients who earn “loyal” are devoted to and appreciative of the product. The customers experience the product both online and in person. Loyal consumers get to try out different products depending on the company. The Apple Company’s success often hinges on the satisfaction of its customers, who often become devoted after having direct contact with the Apple iPhone.
Managers, leaders, and intrapreneurs are interested in providing value to their consumers. Customers’ satisfaction with an offer’s value is essential for the bid to be successful. To succeed as an intrapreneurial business, one must provide clients with value in the most critical areas (Mohd Satar et al., 2019). As an illustration, the value to a consumer of an iPhone used may be higher than the value of another smartphone purchased from another company. Even though the two smartphones may have the same price tag, the value that each consumer receives from them is distinct. Affirmative: the value Each Customer Segment has a unique set of needs, and your Propositions should outline the whole suite of offerings that will meet those needs.
Each Customer Segment has unique demands, and Value Propositions can meet those needs by providing a unique combination of factors. Quantitative (such as cost or time spent) or qualitative (such as a sense of satisfaction or pride) measures of value might be applied (Weinstein, 2020). Customers may not have been aware that they needed it until a new value proposition filled that void. For instance, it is hard to use Airdrop with anyone other than Iphone users. Having the ability to send the files through bluetooth make it easier to share with those who do not have Iphones. Typically, but not always, technological factors are involved. In particular, the advent of the cell phone spawned a whole new market for mobile phone service.
On the other hand, products like ethical asset managers have very little to do with technology innovation. Value is created when goods and services, such as Apple iPhone, are adapted to meet the requirements of a particular consumer or customer group. The ideas of mass customization and consumer co-creation have been gaining traction in recent years. As a result, customers can receive individualized attention while reaping the benefits of economies of scale. One frequent strategy for catering to the needs of the price-conscious Customer Segment is to provide comparable value at a reduced cost.
Da Costa Fernandes, S., Pigosso, D. C., McAloon, T. C., & Rozenfeld, H. (2020). Towards product-service system oriented to a circular economy: A systematic review of value proposition design approaches. Journal of Cleaner Production, p. 257, 120507. https://www.sciencedirect.com/science/article/pii/S0959652620305540
Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2015). Value proposition design: How to create products and services customers want. John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=jgu5BAAAQBAJ&oi=fnd&pg=PA8&dq=apple+company+value+proposition+&ots=Pn5bjJuxPZ&sig=lOUnaVDc3SgY_Wz3K-Au_3sKmP4
Mohd Satar, N. S., Dastane, O., & Ma’arif, M. Y. (2019). Customer value proposition for E-Commerce: A case study approach. International Journal of Advanced Computer Science and Applications (IJACSA), 10(2), 454-458. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3428500
Weinstein, A. (2020). Creating superior customer value in the new economy. Journal of Creating Value, 6(1), 20–33. https://journals.sagepub.com/doi/abs/10.1177/2394964319898962″