In contemporary societies, to start a business and lead it successfully, people should be aware of all the difficulties the entrepreneur may encounter during his or her activity. The value proposition is a tool to attract new customers with the prospect of further stable sales and popularizing the firm instantly. For a value proposition to attract buyers, it should be profitable for business and customer, as well as unique and affordable.
To interest a person in purchasing a product, one needs to show them the specific benefits they will receive. It is best to start by setting a price that will be advantageous for the entrepreneur and then look for ways to ensure the best possible conditions for the buyer (Harvard Business Review, 2018). This, first of all, covers the costs of the enterprise necessary for production and promotion, but at the same time, takes into account the interests of customers. Without the buyer’s interest in financial gain, the probability of successful sales falls significantly.
Unique products and services are more likely to attract customers’ attention than a large amount of the same things. Often companies make efforts to do many things simultaneously, but in this case, they need to do something qualitatively (Harvard Business Review, 2018). Focusing on a particularly unique product is a better idea, as it allows one to allocate forces and concentrate on something specific correctly. A passion for one unique firm brings the company more profit, as it can quickly attract the client’s attention.
Finally, the idea the entrepreneur has invested in production should be clear to the customer, and the concept of the product or service should be accessible to the person. To build the right business model, one needs to create a clear value proposition for the client who can be interested in it (Harvard Business Review, 2018). The customer needs a unique product to ensure better sales but clearly understands its idea. It is also essential to ensure the product’s availability to the target audience for its sale.
In conclusion, it is necessary to follow the rules to create a value proposition acceptable to business managers and customers. For a successful sale, the product should benefit both sides of the transaction, be unique, and, at the same time, be accessible to the target audience. By complying with these rules, the company can popularize its products or services and get real benefits from the products offered.
Reference
Harvard Business Review, Porter, M. E., Collins, J. C., Chan, K. W., & Mauborgne, R. A. (2018). HBR’s 10 must reads on strategy for healthcare. (M. E. Porter, & T. H. Lee, Ed.). Harvard Business School Press.