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Value Proposition

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A short, clear, and simple statement of how and on what dimensions a product concept will deliver value to prospective customers. The essence of “value” is embedded in the tradeoff between the benefits a customer receives from a new product and the price a customer pays for it. (see Chapter 3 of the PDMA ToolBook 1).

Alternative Meanings:
  • Value proposition

    The essence of the value that your product or service provides to the customer.

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