Ch04. Value Proposition Canvas (VPC).pptx

Value proposition

1. Prepared by: Jenelyn B. Refamonte-Asis Email: [email protected] Chapter 4 Value Proposition Canvas

2. Value Proposition Canvas

3. RECAP 1 Articulate Problem & Solution Identify Target Market 2 Empathy – Remember that the one who will pay us are the USER. So for us to make sophisticated solution UNDERSTAND THE WORLD OF THE USER. 3 Empathy - is the ability to understand and share the feelings of another.

4. INNOVATION =

5. STARTUP SUCCESS RATE Market Validation

6. Statistic Reports Market Validation

7. Lesson Outline Customer Profile Value Map ( Product )

8. After the presentation of this module, participants are expected to: Learn the importance of doing the Value Proposition Canvas; Thoroughly profiled the customer though identifying their pains and gains; and Provide gain creators and pain relievers to customer segments. Learning Outcomes

9. What is Value proposition? Value Proposition Canvas

10. Value Proposition It describes the unique benefits or value that a product, service, or business provides to its customers / clients. It explains why someone should choose a particular product or service over alternatives in the market.

11. How to provide value? What are my customers struggling with? 2. How can I make their lives easier?

12. ?

13. HOW YOU CREATE VALUE TO YOUR CUSTOMER?

14. * Understand what your customers care about.

15. Guide Questions 1. What are customers trying to get done. ( not what they want ) 2. What is preventing them from getting that done? ( pains, fears, struggles & problems ) 3. What are the outcomes / objectives they are looking for? ( the gains they are looking for in getting the job well done )

16. HOW? 1. Conduct empathy (e.g interview) 2. Conduct call-to-action survey & testing ( registration form, pre-subscription, etc.)

17. Value Proposition Canvas - is a strategic tool used to understand and articulate the value that a product or service offers to its customers.

18. Value Proposition Canvas The Value Proposition Canvas FIT Gains Creators Products Pain Relievers Gains Customer Job(s) Pains

19. The Value Proposition Canvas Gains Customer Job(s) Pains Customer Profile Describes a specific customer segment in your business model in a structured and detailed way. Observed Customers . The set of customer characteristics that you assume , observe, and verify in the market. Customer segment - refers to a group of customers with similar needs, characteristics, or behaviors. Customer segmentation is the process of dividing the market into smaller groups of customers who share similar needs or attributes.

20. Customer Segments Customer segmentation can be based on various criteria such as: Demographics: Age, gender, income, education, occupation, etc. Psychographics: Lifestyle, personality, values, interests, etc. Behavior: Purchase history, brand loyalty, product usage, etc. Needs: Specific needs or problems that customers are looking to solve.

21. Describe what customers are trying to get done in their work and in their lives, as expressed in their own words. Gains Customer Job(s) Pains Functional Job. Ex. getting from A to B Social Job. Ex. impressing friends and colleagues Emotional Job. Ex. gaining peace of mind Customer Jobs The Value Proposition Canvas

22. Types of Customer Jobs 1. Functional Jobs - refer to the practical tasks or problems that a customer needs to solve, such as completing a specific task or achieving a particular goal. 2. Social Jobs - refer to the customer's need to conform to social norms, to express their identity, or to connect with others. 3. Emotional Jobs - refer to the psychological or emotional needs of the customer, such as feeling happy, satisfied, or proud.

23. Identify Customer Jobs

24. Functional Jobs 1. ride a motorcycle / multicab on expected time. 2. report to the office on time. Social Jobs 1. wants to recognize as being punctual. 2. Like to see by her/his co-workers as discipline in time management. 3. Wants to demonstrate respect in his work ethics. 4. Wants to demonstrate productivity. Emotional Jobs 1. Gaining peace of mind. 2. Feeling fulfilled and confident. Customer Jobs

25. It refers to the problems, frustrations, or challenges that customers experience in their daily lives or when trying to achieve their goals. These pains can be related to various aspects such as emotional, social, or functional. Gains Customer Job(s) Pains 2. Customer Pains The Value Proposition Canvas

26. Customer Pains There are few multicab or already loaded with passengers. traffic, hot during travel, sitting tight between passengers. Sleeping late Salary deduction Always late Lack of confident Lack of trust from supervisor or bosses. stressed

27. It r efers to the benefits or outcomes that customers hope to achieve. These gains can be an outcome they are looking for or an objectives they want to achieve. Gains Customer Job(s) Pains 3. Customer Gains The Value Proposition Canvas

28. Customer Gains The more detailed the customer profile is, the better. Tip : Promotion Maintain work ethics Work happiness

29. Value Map ( Product ) Create Value - The set of benefits that you design to attract customers. Value Proposition Canvas Gains Creators Products Pain Relievers - is a visual representation of the relationship between the customer profile and the value proposition (product) . It shows how the products or services can create value for a specific customer segment. The Value Proposition Canvas

30. Gains Creators Products Pain Relievers What the product is all about ( product name) The Value Proposition Canvas

31. Value Proposition Canvas Gains Creators Products Pain Relievers Describe how your products alleviate / address customer pains The Value Proposition Canvas

32. Value Proposition Canvas Gains Creators Products Pain Relievers Describe how your products create customer gains The Value Proposition Canvas

33. Pain Relievers Products Gains Creators The Value Proposition Canvas Describe how your products alleviate / address customer pains Describe how your products create customer gains What the product is all about ( product name)

34. Value Proposition Canvas The Value Proposition Canvas FIT Gains Creators Products Pain Relievers Gains Customer Job(s) Pains

35. Uber - is a ride-hailing mobile application that allows users to request a ride from a nearby driver. Product

36. Pain Relievers

37. Gain Creators

38. Problem and Customer Segment Problem: 79% of the Fashion online shoppers population in the Philippines is experiencing dissatisfaction by receiving wrong size of the clothes or the selected size is not fitted to the actual size of their body. Market Validation Target Customer: Fashion clothes online shoppers . Fashion e-commerce business owner

39. Processed receive order Ship items Processed refund / re-shipping Inventory items Happy in receiving good feedback Hassle in return items Another shipping fee Receiving negative feedback If there are cancellation in orders Low number of sales profit Frustration of loss instead of sales Regular customer SIBO: The Sizing Body detection for fashion clothing Provide accurate sizes Prevent re-shipment Prevent receiving negative feedback More profit Save money Gain customer trust Cost-efficient

40. END! Market Validation