GRADE 11 - ENTREPRENEURSHIP

1. VALUE
PROPOSITIONS

2. What is a Value Proposition
• Value : Establishing how important it is to
the customer – the BENEFIT: Note that this is
not always what we think it is
• Value Proposition – a statement that
explains the product offering and it’s value to
our customer.

3. Remember FAB?:
Features Advantages Benefits
Use FAB to get to the core of what makes a product sell
and help you craft your USP and Value Proposition
“F” Features: the tech specs – what’s in the box
“A” Advantages: what it does better than the
competition
“B” Benefits: How it relieves a problem or fulfills a
desire for the customer – this is always associated with
creating positive feelings or relief to a customer

4. Elements of Value for Customers
Quality,
Specs,
Affordability,
Cost
Transparency,
Guarantee
Ease of access
– ease of
purchase and
delivery
options
Status pricing
Image,
Brand Value
Money-saving
Combine
your
FAB
elements
Customer
service during
purchase
Tribe –
creating a
relationship

5. The Value Proposition
• The Value Proposition should make it easy for your customer to
identify THEIR DESIRE to purchase your item/brand:
• The term TRIBE is useful here; Your product is aimed at a
specific group of people – a ‘TRIBE’ if you want your customer
to easily identify THEIR desire to buy your products, you need
to know – WHO they are and what makes them tick – what are
their ‘CUSTOMS’?
• What age; gender; income; hobbies; habits; how do they
communicate; what music do they like…find the things that are
common to them so you can develop a way to effectively
communicate with them and build a TRIBE

6. :
The Value Proposition
• TRIBE:
• People like to feel like they belong
• People like to feel like their
individuality is recognized and catered
to
• If you can combine targeting both
these seemingly conflicting things, you
will be able to form a strong TRIBE of
your customers

7. The Value Proposition
• TRIBE – why does it matter?
• will drive both of these and build a
strong base from which you can build
your business you want to build brand
loyalty for
• Word of mouth promotion
• Repeat purchases

8. The Value Proposition
• To craft a Value Proposition that makes it easy for your
customer to identify their desire to purchase your
item/brand, you will need to:
• Clearly state who your tribe is
• Capture what that tribe wants or needs
• Briefly name and describe the product you have for this
• Bring it home with the key BENEFITS
• And clarify what makes it superior over the
competitors - ADVANTAGES

9. The Unique Selling Proposition
• An essential foundation of a good Value Proposition is
knowing what your USP really is:
• Remember that you will always have competitors
• Identify what makes your product different and
ideally, preferable to your competitors – what is your
Unique Selling Proposition?
• Our instincts are to be everything to everyone –
spread our nets as WIDE as we can
• But in fact, being able to refine, define and target a
very specific market sector is actually a much
stronger foundation for success

10. Crafting a Value Proposition
The Value Proposition should be:
• Concise
• Specific and
• Engaging to your customers

11. A great
example: