Value Proposition Value Proposition Exercise Interdisciplinary Product 1 Caterpillar Innovation Center Development
Value Proposition What is a Value Proposition? Id Ident ntifi fies ta target et marke ket opportun unity Explains Ex s co cost st an and d be benefi fits ho how that combination is sup uperior to other choices = A = A unique se selling prop oposi osition on; A A va value proposition n is NOT a a mi mission on s sta tatemen tement a sa a sales s pi pitch an an el elev evator tor pi pitch ch Interdisciplinary Product 2 Caterpillar Innovation Center Development
Value Proposition Creating your Value Proposition List target customers or beneficiaries. Asserts the VALUE Fo For: r: Group them and ultimately define THE customer or beneficiary. of the offering Define the need or opportunity. Wh Who: : What is critical issue? Name your product, service or concept. The The: Place the product, service, or concept into a generally understood category. Quantify the benefits of the product, service, or concept. Tha That: : Identify the single most compelling benefit. POSITIONS the value List the competitors and competitive alternatives – Unlike ke: Differentiate the product, service, or concept. Our ur: Set it apart from the competition. Interdisciplinary Product 3 Caterpillar Innovation Center Development
Value Proposition Example: IDE India Fo For: r: Small scale rural farmers using surface irrigation Fo For: r: List target customers or beneficiaries. Group them and ultimately define THE customer or beneficiary. Who: Wh : lose over 50% of usable water to surface runoff annually : Define the need or opportunity. Who: Wh What is critical issue? The: Th IDE-India low-cost drip irrigation system is an advanced Th The: Name your product, service or concept. irrigation device Place the product, service, or concept into a generally understood category. That: Th : inexpensively and completely eliminates water loss from : Quantify the benefits of the product, service, or concept. Th That: surface irrigation Identify the single most compelling benefit. Unlike: currently used, expensive and large-scale drip systems Un Unlike: List the competitors and competitive alternatives – Un Our: Ou product is a customized, modular and scalable system that Ou Our: Differentiate the product, service, or concept. consistently reduces water loss and increases farmers’ yields Set it apart from the competition. Interdisciplinary Product 4 Caterpillar Innovation Center Development
Value Proposition IPD Example For: Fo r: For: Fo r: List target customers or beneficiaries. Group them and ultimately define THE customer or beneficiary. Wh Who: : lose over 50% of usable water to surface runoff annually : Define the need or opportunity. Wh Who: What is critical issue? Th The: IDE-India low-cost drip irrigation system is an advanced The: Th Name your product, service or concept. irrigation device Place the product, service, or concept into a generally understood category. Th That: : inexpensively and completely eliminates water loss from : Quantify the benefits of the product, service, or concept. Th That: surface irrigation Identify the single most compelling benefit. Unlike: currently used, expensive and large-scale drip systems Un Unlike: List the competitors and competitive alternatives – Un Our: Ou product is a customized, modular and scalable system that Ou Our: Differentiate the product, service, or concept. consistently reduces water loss and increases farmers’ yields Set it apart from the competition. Interdisciplinary Product 5 Caterpillar Innovation Center Development
Value Proposition So, What Is Marketing? Pulling It All Together Interdisciplinary Product 6 Caterpillar Innovation Center Development
Value Proposition end Interdisciplinary Product 7 Caterpillar Innovation Center Development
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