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The simple (yet highly effective) copy above, taken from the Uber homepage, excellently conveys the simplicity and ease that lies at the heart of what makes it such a tempting service: Everything about this directly contrasts the typical experience of getting a taxi – no phone calls to disinterested dispatchers, no painful conversations trying to explain to a stressed-out cabbie about where you need to be, and no fumbling for change or worrying you’ve got enough bills in your wallet.Just a fast, efficient way to get where you’re going.“Value is what I get.” Value is what a customer derives from a product.
When asked to describe their customer value propositions, most entrepreneurs start reciting a laundry list of product features.
Features are near and dear to the hearts of most people close to the product, whether they are software and hardware engineers, marketing folks, or those in operations. They care about benefits.“Price is what I pay,” said Warren Buffet famously.
At Bridge for Billions, it is one of the key steps of our online incubation program as a strong value proposition is necessary to forming a powerful and well-founded business plan (and we have a surprise for you at the end of the article! As an entrepreneur you need to be able to answer what would appear to be basic questions, but if you are unable to easily and quickly answer these three questions, a partner or an investor won’t bother to sit around and hear the rest of your idea.
Without a strong Value Proposition, the rest of your business plan begins to fall short.
But when it ventured into consumer products such as PCs and calculators, the next bench syndrome hurt its chances to succeed.
The company was so feature driven, that we used to joke internally that if HP were to sell sushi, they would call it “cold, dead fish.” Accurate, but hardly palatable. There are 3 ways to approach customer value proposition creation: When crafting your value proposition, start with brainstorming sessions to develop three specific statements describing the job to be done, customer pain relievers, and gain creators. He has over 3 decades of international technology industry experience.
For a service built on the notion of efficiency and convenience, this is a big deal.
Now, one could argue that Lyft does a better job of being transparent about what users can expect, an argument that definitely has merit, especially if you’ve ever been stung by Uber’s unexpected “surge” pricing.
It’s also difficult to imagine a product with as much competition as Apple’s flagship mobile device, so what sets the i Phone apart from the (literally) hundreds of competing devices on the market?
As you’d probably expect from Apple, a firm renowned as much for its commitment to sleek, elegant product design as its actual products, Apple firmly reiterates its value proposition in the copy about its i Phone range of products – specifically, the design of the device itself, the ease of use that has been a cornerstone of Apple’s design aesthetic since the launch of OS X, and the aspirational qualities that an i Phone supposedly offers the user. Apple states that it believes a phone “should be more than a collection of features” – yet this is precisely what a smartphone is.