Value Proposition Fit and Business Fit.pptx

Understanding Value Proposition Fit, including key elements such as customer segments, pain points,
gains, and product/service solutions. Understanding Business Fit, covering revenue streams, cost structure, key resources, and channels.The significance of aligning value proposition and business fit for ensuring sustainability, enhancing customer satisfaction, and driving profitability. The significance of aligning value proposition and business fit for ensuring sustainability, enhancing
customer satisfaction, and driving profitability. Framework for achieving fit, focusing on identifying target customers, designing and validating the
value proposition, developing a business model, and the importance of testing and iterating.
• Common challenges and pitfalls in achieving alignment, such as misunderstanding customer needs, misalignment between value proposition and business model, and inadequate testing.

1. “Value Proposition Fit & Business Fit ” By, M. Muniraj, Asst. Prof./Mech, Innovation Ambassador, MoE’s Innovation Cell. A Workshop on

2. Objectives Value proposition fit Importance Measurement Improvement Communication Business Fit Problem-Solution Fit Product-Market Fit . Business Model Fit

3. Value Proposition Fit

4. Value Proposition Fit – An Overview Value proposition fit is the degree of match between what you offer and what your customers want . It's not enough to have a great idea or a unique feature ; you need to validate that your value proposition resonates with your customers and addresses their most important jobs, pains, and gains . Value proposition fit is not a static state; it's a dynamic and iterative process that requires constant testing and learning .

5. Value Proposition Fit – Importance Value proposition fit is crucial for your product innovation success , as it affects your customer acquisition, retention, and loyalty . If you have a high value proposition fit , you can attract and convert more customers, reduce churn, increase referrals, and create advocates . If you have a low value proposition fit , you risk wasting time and resources on developing a product or service that nobody wants, needs, or values . Value proposition fit also helps you differentiate yourself from your competitors and position yourself as a leader in your market .

6. Value Proposition Fit – Measurement Different methods and tools can be used to measure value proposition fit, depending on the stage of product innovation and the data desired .  Customer interviews and surveys  are qualitative methods to gain feedback and insights from customers about their problems, needs, desires, and perceptions . Open-ended or closed-ended questions, scales, or ratings can be used to measure relevance, clarity, uniqueness, credibility, and attractiveness . Landing pages and web analytics are quantitative methods to test and measure the interest and behavior of online visitors towards the value proposition. Minimum Viable Product

7. Value Proposition Fit – Improvement Measuring value proposition fit is not enough ; you need to act on the data and insights you collect and use them to improve your value proposition fit . To do so, you can iterate and refine your value proposition , such as adding or removing features, adjusting the benefits, clarifying the message, or changing the price . You can also segment and target the most attractive and profitable customer segments for your value proposition.  Business Model Canvas and Blue Ocean Strategy Canvas

8. Value Proposition Fit – Communication You need to craft a clear, compelling, and consistent value proposition statement that summarizes your offer, your target market, and your unique value . You also need to create a value proposition pitch that explains how your product or service solves your customers' problems, meets their needs, or delivers benefits. You can use tools such as the value proposition builder or the pitch canvas to structure and deliver your value proposition statement and pitch .

9. Value Proposition Fit - Infographics

10. Value Proposition Fit - Infographics

11. Value Proposition Fit - Sample

12. Value Proposition Fit – Sum and Substance

13. Business Fit

14. Business Fit – An Overview The first step is to assess the degree to which the application being assessed meets the requirements of the Business . If business requirements are changing, it is important to assess the Business ‘Fit’ at more than one point in time (e.g. today, six months, one year, two years). Types Problem-Solution Fit Product-Market Fit Business Model Fit

15. Problem-Solution Fit You can demonstrate that your customers care enough about what you think they care about and what your solution intends to address . For example , when Hilti, the construction power tool manufacturer , redesigned their business, they addressed their customers jobs and pains, such as meeting contract deadlines, power tool theft, tool repairs and penalty costs . Then Hilti addressed these with gains such as predictable costs, no delays, replacement tools and access to the latest technology .

16. Product-Market Fit The products or services you provide to customers create value for them by relieving pains or creating gains . There is a clear match between what you promise your customer and what they need; you have evidenced and validated the value. For example ,  Tesla  understood their customers ‘pain’ that the battery may run out , leaving people stranded from home. So, Tesla also installed thousands of fast-charging stations throughout North America and the world enabling customers to ‘go anywhere’.

17. Business Model Fit Customer Segments Channels Customer Relationships Value Propositions Key Activities Resources Partners, Costs Streams Revenue Streams Business Model Fit  is evidenced when you can take this value proposition and deliver it within a profitable and scalable business model . Business Model Fit addresses the 9 fundamental building blocks

18. Business Fit (v)s Technology Fit

19. SWOT Analysis SWOT stands for Strengths, Weaknesses, Opportunities, and Threats , and so a SWOT analysis is  a technique for assessing these four aspects of your business . SWOT Analysis is a tool that can help you to analyze what your company does best now, and to devise a successful strategy for the future .

20. Business Fit - Infographics

21. Business Fit - Infographics

22. Business Fit - Sample

23. Business Plan – Sum and Substance

24. Motivate Yourself

25. Smile. Your eyes Sparkle when you do.