Finding Value in Your Value Proposition

Finding Value in Your Value Proposition

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James AtkinsJuly 2014

Price is what you pay.Value is what you get.

– Warren Buffet, Chairman, Berkshire Hathaway

Price is what you pay.Value is what you get.

– Warren Buffet, Chairman, Berkshire Hathaway

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Clear & Concise

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Clear & Concise

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Evernote apps and products make modern life

manageable, by letting you easily collect and find

everything that matters

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Great tasting healthy juices & snacks made

and served by people who love life....

But how?

1. Being clear on your Total Offer

2. Having a Sustainable Competitive Advantage

3. Meeting Customer Needs & Problems

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1. Being clear on your Total Offer

2. Having a Sustainable Competitive Advantage

3. Meeting Customer Needs & Problems

BrandEssence

our DNA

Featureswhat we offer

Benefitsto our customer

Imagehow we want to be seen

CompetitiveAdvantagehow we will win

Value PropositionWheel

Valueshow we will work &what we hold true

BrandEssence

our DNA

Featureswhat we offer

Benefitsto our customer

Proof Pointshow we

demonstrate value

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Brand Essence

Features Benefits

Image

Competitive AdvantageCool

The Boost Experience

Fresh

Energetic

Feel Great

Have Fun

FreshIngredients

Love Life

Values

Proof Points

The Team New Products

Be Healthy

Have Fun

Can Do Attitude

Have Fun

Made inStore

Honesty

Love Life

98% Fat Free No Additives

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Great tasting healthy juices & snacks made

and served by people who love life....

Workbook Exercise

BrandEssenceour DNA

Featureswhat we offer

Benefitsto our customer

Proof Pointshow we

demonstrate value

Imagehow we want to be seen

CompetitiveAdvantage

how we will win1) Are there elements

missing or lacking

clarity?

2) Do they all work

together to create a

compelling value

proposition?

3) How would you

summarise in one

sentence?13

Valueshow we will work &what we hold true

Proof Pointshow we

demonstrate value

1) Are there elements

missing or lacking

clarity?

2) Do they all work

together to create a

compelling value

proposition?

3) How would you

summarise in one

sentence?

If you don’t have a competitiveadvantage,

DON’T COMPETEJack Welch

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Determining Competitive Advantage

• Sustainable

• Hard to copy

• Unique

• Superior to the competition

• Applicable to multiple situations

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• Sustainable

• Hard to copy

• Unique

• Superior to the competition

• Applicable to multiple situations

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Determining Competitive Advantage

Key SuccessFactor

(A)

Value ToCustomer

(B)

Current AbilityTo Beat

Competitor(C)

InternalImpact

(D)

Total

(E)

1. Service 72. Innovation 53. Price 64. Technology 7

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4. Technology 75. Quality 76. Management 37. Response Time 9 7 8 178. Best people 9 6 7 169. Brand name 610. Rate of change 8 6 5 13

We will win by...having the best response time

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Meeting Customer Needs and Problems

COREPRODUCT20% Impact80% Costs

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COREPRODUCT20% Impact80% Costs

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Gym

Not openwhen I want

Tied in foryears

Toocrowded

Old equipment

Weekly Fees

NoClasses

Start of the ArtEquipment

Open 24/7

NoContracts

GymTied in foryears

Full of musclebound gorillas

Can’t use whenI travel

Expensive

Not convenient

BigNetwork

Weekly FeesNo

Contracts

FamilyMemberships

Exercise

1) What are your customers

real problems and needs?

2) How could you refine your

offer to meet these needs

and solve the problems?

3) How could you deliver

across the customer touch

points?

COREPRODUCT20% Impact80% Costs

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1) What are your customers

real problems and needs?

2) How could you refine your

offer to meet these needs

and solve the problems?

3) How could you deliver

across the customer touch

points?

Wrapping Up

1. Being clear on your Total Offer

2. Having a Sustainable Competitive Advantage

3. Meeting Customer Needs & Problems

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1. Being clear on your Total Offer

2. Having a Sustainable Competitive Advantage

3. Meeting Customer Needs & Problems

Finding Value in Your Value Proposition

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Questions?

Subscribe: www.vantagemarketing.com.au

Contact: James Atkinsjatkins@vantagemarketing.com.au+61 3 9836 0491

Finding Value in Your Value Proposition

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Subscribe: www.vantagemarketing.com.au

Contact: James Atkinsjatkins@vantagemarketing.com.au+61 3 9836 0491

Copyright- Vantage Strategy & Marketing, 2014