Customer Value Proposition

In marketing, a customer value proposition  consists of the sum total of benefits which a vendor promises a customer will receive in return for the customer's associated payment

Customer Value Management was started by Ray Kordupleski in the 1980s and discussed in his book, Mastering Customer Value Management. A customer value proposition is a business or marketing statement that describes why a customer should buy a product or use a service. It is specifically targeted towards potential customers rather than other constituent groups such as employees, partners or suppliers. Similar to the unique selling proposition, it is a clearly defined statement that is designed to convince customers that one particular product or service will add more value or better solve a problem than others in its competitive set .

A good customer value proposition will provide convincing reasons why a customer should buy a product, and also differentiate your product from competitors. Gaining a customer's attention and approval will help build sales faster and more profitably, as well as work to increase market share. Understanding customer needs is important because it helps promote the product . We can do some survey ask them which they really need, how we can peo brand is the perception of a product, service or company that is designed to stay in the minds of targeted consumers. Customers often use “mental shortcuts” to make purchase decisions, meaning that they rely on brand familiarity to make faster decisions.

By Hu Qi (1534715)