Product Value Proposition



"You've got to start with the "Customer experience" and work back towards the technology - not the other  way around." As Steve Jobs advised, if you have a startup or you are managing an enterprise, then you have to understand that the key success of your product, solution or service to penetrate the market, is starting from market/customer side not from the technology or development backside.

Value Proposition
Refers to a business or marketing statement that a company uses to summarize why a consumer should buy a product or use a service which will add more value by solving a problem or satisfying a need.
 
In a different way, we can say that a value proposition of your product, service or may be your whole company or Startup is "What make it unique?"

The market differentiationof the introduced values that tells the ideal customer why they should buy from you and not from the competition.

Purpose alignment model:



Purpose aligned model is one of the best practice that might be used to help startups or any enterprise before getting in deep with development process of a new product or service to evaluate and predict where exactly their product will compete in the market.

"Why?" is the correct question which should be answered first, "why" means business values, market segmentation, potential customers, and all those parameters that tends to answer the next most important question "What we are going to build?" for them, and whether we agree or disagree with "Frederick Brooks, IBM Hifa research labs, " when he state that:
 "The hardest part of building any software system is determining precisely what to build.", we believe that it would be more easy and more precise when we define "Why we are going to build it?" at the beginning of everything before we start think about What to build to achieve those values.
By the value management process we should keep reviewing and re-evaluating any idea and it's value proposition, every while, to always make sure that we are on track and not losing the way.

Back to purpose alignment model and it's 3 main questions:

What project should we undertake?

What product/s should we build?

and, What approach should we use?


the model telling you where exactly you will put yourself in the market when you are about to introduce a product or a service.

One of the common mistakes that most of startups do, is going directly to define the product features before they be sure about the following:
  • Who are the target users? or market?
  • Who are competitors? And what are their competitive advantages?
This model would be too much helpful for them to define those things, that why it is highly recommended to consider this model and answers of it's 3 questions at the early beginning of their business plan.
Who cares:
When you are going to introduce a product or a service in a saturated, full of competition market, but you jus going to take some market share by filling some gaps.

Parity:
When your product or service can compete with peers in the market and your organization has become master in the field and own it's fingerprint in the market.
When our become leader and many are there following you.

Differentiating:
It's an innovation, a new idea, a unique product or service, or a unique way of how to introduce it.

Partner:
In the time that you already has the innovative idea or product which you are
quite confident that surely it will make a difference, but in the same time you
don't have the capabilities or may be the capacity to produce it yourself, then you
to find a 3ed party, who has not only the Now-How but he is excellent to introduce it.

What makes a good product?



Feasible:
As the name implies, a feasibility study is used to determine the viability of an idea or product, such as ensuring a project is legally and technically feasible as well as economically justifiable. It tells us whether a product is worth the investment—in some cases, it may not be doable, in terms of country regulations or missing the right technology to do it.
Sometimes a product could be feasible in one time, but it becomes no longer valid, or unfeasible.

Desirable:
A product should not just be made for profit, but for the benefit of customers and the in sometimes ıt goes even further to benefıt the society as a whole. 
In the sake of developing a desirable product, you should know who are your target customers, by defining different Personas, and which things, or features that provides satisfaction to each one, when? and how?

Valuable:
"Solving a problem or satisfying a need", as we stated earlier in this article, those are the most important objectives that make any product valuable to it's customers.
Your product must work to relieve customer pain, that no other company or product is solving.

Usable:
 It examines the way that the product will be used and whether it enables the user to do so in a pleasurable, simple (or as simple as possible) and effective manner.
Ease of use is a straightforward concept –it's a measurement of how easy the product is to use by its intended users. Design is often a battle between trying to deliver functionality and trying to deliver ease of use.

Finally, Honestly speaking the characteristics for a good product may be more than mentioned above, however, the main purpose of this article that we should always highlights that points before we start implementing or developing any product, whether you are a Start-up or an Enterprise, these things should be undertaken into consideration at the early beginning of any project.

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