Strategic Planning
Read this chapter, which examines the strategic planning process companies go through to develop, price, promote, and sell their products and services. The first section explains the value proposition and will help you understand why a company may develop different value propositions for different target markets. After reading the chapter, complete the discussion questions at the end of the chapter.
The Value Proposition
Key Takeaway
A value proposition is a thirty-second "elevator
speech" stating the specific value a product or service provides to a
target market. Firms may develop different value propositions for
different groups of customers. The value proposition shows why the
product or service is superior to competing offers and why the customer
should buy it or why a firm should hire you.