Target Customers, Value Proposition, and Product Offering

Cards (4)

  • Target Market - refers to a selected and well-defined client segment among the businesses' serviceable market. This market is whom the business wants to sell its products and services and direct its promotional effects.
  • How to define your market?
    1. Segment the market
    2. Identify the unique selling proposition (USP)
    3. Analyze the customer base
    4. Analyze the competitors' customer base
  • Value Proposition - Refers to the worth an organization guarantees to deliver to customer should they prefer to obtain their product, A declaration of intent or an announcement that introduces a company's brand to customer by telling them what the business stands for, how it operates, and why customers deserve their business.
  • A value proposition may be presented as a business or promotion statement that summarizes why a shopper should purchase a product or use a service.