L5: Value Proposition Design

Question 1

What is the value delivery system?

Answer 1

Customer oriented value chain
- Choose value > Provide value > communicate value

in contrast to the traditional product oriented system
- Create product > Make product > Sell product

Question 2

What is the business model test? (two tests)

Answer 2

The narrative test: Do we believe in the story?
The number test: Do the numbers add up? Can investors get a return?

Question 3

The Value Proposition Development Framework

Answer 3

Explain model

Question 4

Value development implementation framework

Answer 4

Explain model:
1. VP design and assesment
2. Value quantification
3. Value communication
4. Value documentation
5. Value verification & VP review

Question 5

What is the logic behind the VP development? (Linear or iterative)

Answer 5

Iterative

Question 6

What is value proposition

Answer 6

A statement of how the company provides value to its customers

Question 7

VP design characteristics

Answer 7

-Perspective: How do we view the VP? From a buyer, supplier, firm persepctive?
- Explicitness: Direct or indirect communication?
- Granularity: Firm (mission), customer (marketing), individual (sales context)
-Focus: Number and breath of VP’s one vs. many

Question 8

Consequences of the VP Framework (Firm based and market based ressoruces)

Answer 8

Explain model

Question 9

Explain the value map (canvas)

Answer 9

A tool to map out the how your product creates value for the customer and what pains it relieves (company view)

Question 10

Explain the customer profile (canvas)