{"id":24,"date":"2014-08-19T07:16:12","date_gmt":"2014-08-19T07:16:12","guid":{"rendered":"https:\/\/courses.candelalearning.com\/principlesmktg1x2kscope\/?post_type=chapter&#038;p=24"},"modified":"2019-06-25T12:19:55","modified_gmt":"2019-06-25T12:19:55","slug":"2-1-the-value-proposition","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/chapter\/2-1-the-value-proposition\/","title":{"raw":"The Value Proposition","rendered":"The Value Proposition"},"content":{"raw":"<div class=\"im_section\">\r\n<div id=\"fwk-133234-ch02_s01_n01\" class=\"im_learning_objectives im_editable im_block\">\r\n<h3 class=\"im_title\">Learning Objectives<\/h3>\r\n<ol id=\"fwk-133234-ch02_s01_l01\" class=\"im_orderedlist\">\r\n\t<li>Explain what a value proposition is.<\/li>\r\n\t<li>Evaluate whether a value proposition is effective.<\/li>\r\n<\/ol>\r\n<\/div>\r\n<div id=\"fwk-133234-ch02_s01_s01\" class=\"im_section\">\r\n<h2 class=\"im_title im_editable im_block\">What Is a Value Proposition?<\/h2>\r\n<blockquote><span data-sheets-value=\"[null,2,&quot;Kal wave 2&quot;]\" data-sheets-userformat=\"[null,null,513,[null,0],null,null,null,null,null,null,null,null,0]\">A business or marketing statement that summarizes why a consumer should buy a product or use a service. This statement should convince a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings. <\/span><\/blockquote>\r\nThe value proposition focuses marketing efforts on the unique benefit to customers. This helps focus the offering, but also guides organizations in determining which customers they should target and how best to describe their offerings to highlight the value.\r\n\r\nA value proposition needs to answer the question: why should someone buy what you are offering?\r\n\r\nIf you look closely at this question it contains three components:\r\n<ul>\r\n\t<li><strong>Who?\u00a0<\/strong>The value proposition does not name the target buyer, but it must show clear value to the target buyer.<\/li>\r\n\t<li><strong>What?<\/strong> The offering needs to be clearly defined in the context of that buyer.<\/li>\r\n\t<li><strong>Why? <\/strong>It must show that the\u00a0offering that is uniquely valuable to the buyer.<\/li>\r\n<\/ul>\r\n<h2>What Is An Effective Value Proposition?<\/h2>\r\nA value proposition should be clear, compelling and different.\r\n<ol>\r\n\t<li>Clear - Short and direct, to immediately identify both the offering and the value or benefit<\/li>\r\n\t<li>Compelling - Describing\u00a0the benefit in a way that motivates the buyer to act<\/li>\r\n\t<li>Different - Setting the offering apart, or differentiating it, from other offerings<\/li>\r\n<\/ol>\r\n<h2>The Value Proposition in Action<\/h2>\r\nLet's take a look at some real examples and evaluate them. Are they clear, compelling and direct? Keep in mind that you may not be the target market for all of these examples. Your role as a marketer is evaluate them from the perspective of the target market.\r\n\r\n[caption id=\"attachment_369\" align=\"aligncenter\" width=\"601\"]<a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest.png\"><img class=\"wp-image-369\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest-1024x685.png\" alt=\"Copyright held by Pinterest. Image used under Fair Use doctrine. View at http:\/\/pinterest.com\/.\" width=\"601\" height=\"402\" \/><\/a> Copyright held by Pinterest. Image used under Fair Use doctrine. View at http:\/\/pinterest.com\/.[\/caption]\r\n<h4>\u00a0Pinterest<\/h4>\r\nThis value proposition does not go into a lengthy description of what Pinterest is and how it works. It simply focuses on what benefit that offers its users.\r\n\r\nNotice the use of the phrase \"people like you.\" The value proposition connects you to the sites other users.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n[caption id=\"attachment_371\" align=\"aligncenter\" width=\"601\"]<a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype.png\"><img class=\"wp-image-371\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype-1024x817.png\" alt=\"Copyright held by Skype. Image used under Fair Use doctrine. View at http:\/\/Skype.com\/.\" width=\"601\" height=\"480\" \/><\/a> Copyright held by Skype. Image used under Fair Use doctrine. View at http:\/\/Skype.com\/.[\/caption]\r\n<h4><strong>Skype<\/strong><\/h4>\r\nThe value proposition first highlights Skype's broad use, which is an important feature for its network-based approach. Next it\u00a0describes the offering.\r\n\r\nAgain, notice the use of the word \"you\" in the value proposition.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n[caption id=\"attachment_372\" align=\"aligncenter\" width=\"601\"]<a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce.jpg\"><img class=\"wp-image-372\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce.jpg\" alt=\"Copyright held by Salesfoce.com. Image used under Fair Use doctrine. View at http:\/\/salesforce.com\/.\" width=\"601\" height=\"333\" \/><\/a> Copyright held by Salesforce.com. Image used under Fair Use doctrine. View at http:\/\/salesforce.com\/.[\/caption]\r\n<h4><strong>Salesforce.com<\/strong><\/h4>\r\nThe value proposition for Salesforce.com includes the acronym CRM, which stands for customer relationship management software. Not everyone knows this acronym but Salesforce is confident that its target market knows what a CRM is, and is seeking such a system to improve its sales management processes and results.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n[caption id=\"attachment_377\" align=\"aligncenter\" width=\"601\"]<a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition.jpg\"><img class=\"wp-image-377\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition-300x190.jpg\" alt=\"Copyright held by Uber.com. Image used under Fair Use doctrine. View at http:\/\/Uber.com\/.\" width=\"601\" height=\"382\" \/><\/a> Copyright held by Uber.com. Image used under Fair Use doctrine. View at http:\/\/Uber.com\/.[\/caption]\r\n<h4>Uber<\/h4>\r\nThis value proposition is very simple, but it describes enough about the value that you may want to learn more about how it works.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n[caption id=\"attachment_378\" align=\"aligncenter\" width=\"600\"]<a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition.jpg\"><img class=\"wp-image-378\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition-300x147.jpg\" alt=\"Netflix Value Proposition\" width=\"600\" height=\"296\" \/><\/a> Copyright held by Netflix. Image used under Fair Use doctrine. View at http:\/\/netlix.com\/.[\/caption]\r\n<h4>Netflix<\/h4>\r\nAgain, Netflix does not go into the detail of how its service works. It emphasizes why you should want the service, as well as the affordability.\r\n\r\n&nbsp;\r\n\r\n<\/div>\r\n<\/div>\r\n<h2 class=\"im_title im_editable im_block\">What Is Your Value Proposition?<\/h2>\r\nIt is helpful for students to develop their own personal value proposition. This can help you tell companies why they should hire you or why a graduate school should accept you. Show the value you bring to the situation. A value proposition will help you in different situations. Think about how your internship experience and\/or study abroad experience may help a future employer. For example, you should explain to the employer the benefits and value of going abroad. Perhaps your study abroad experience helped you understand customers that buy from Company X and your customer service experience during your internship increased your ability to generate sales, which improved your employer\u2019s profit margin. Thus you may be able to quickly contribute to Company X, something that they might very much value.\r\n<div id=\"fwk-133234-ch02_s01_s01_n01\" class=\"im_key_takeaways im_editable im_block\">\r\n<h3 class=\"im_title\">Key Takeaway<\/h3>\r\nA value proposition is a thirty-second \u201celevator speech\u201d 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.\r\n\r\n<\/div>\r\n<div id=\"fwk-133234-ch02_s01_s01_n02\" class=\"im_exercises im_editable im_block\">\r\n<h3 class=\"im_title\">Review Questions<\/h3>\r\n<\/div>\r\nhttp:\/\/www.openassessments.com\/assessments\/424","rendered":"<div class=\"im_section\">\n<div id=\"fwk-133234-ch02_s01_n01\" class=\"im_learning_objectives im_editable im_block\">\n<h3 class=\"im_title\">Learning Objectives<\/h3>\n<ol id=\"fwk-133234-ch02_s01_l01\" class=\"im_orderedlist\">\n<li>Explain what a value proposition is.<\/li>\n<li>Evaluate whether a value proposition is effective.<\/li>\n<\/ol>\n<\/div>\n<div id=\"fwk-133234-ch02_s01_s01\" class=\"im_section\">\n<h2 class=\"im_title im_editable im_block\">What Is a Value Proposition?<\/h2>\n<blockquote><p><span data-sheets-value=\"[null,2,&quot;Kal wave 2&quot;]\" data-sheets-userformat=\"[null,null,513,[null,0],null,null,null,null,null,null,null,null,0]\">A business or marketing statement that summarizes why a consumer should buy a product or use a service. This statement should convince a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings. <\/span><\/p><\/blockquote>\n<p>The value proposition focuses marketing efforts on the unique benefit to customers. This helps focus the offering, but also guides organizations in determining which customers they should target and how best to describe their offerings to highlight the value.<\/p>\n<p>A value proposition needs to answer the question: why should someone buy what you are offering?<\/p>\n<p>If you look closely at this question it contains three components:<\/p>\n<ul>\n<li><strong>Who?\u00a0<\/strong>The value proposition does not name the target buyer, but it must show clear value to the target buyer.<\/li>\n<li><strong>What?<\/strong> The offering needs to be clearly defined in the context of that buyer.<\/li>\n<li><strong>Why? <\/strong>It must show that the\u00a0offering that is uniquely valuable to the buyer.<\/li>\n<\/ul>\n<h2>What Is An Effective Value Proposition?<\/h2>\n<p>A value proposition should be clear, compelling and different.<\/p>\n<ol>\n<li>Clear &#8211; Short and direct, to immediately identify both the offering and the value or benefit<\/li>\n<li>Compelling &#8211; Describing\u00a0the benefit in a way that motivates the buyer to act<\/li>\n<li>Different &#8211; Setting the offering apart, or differentiating it, from other offerings<\/li>\n<\/ol>\n<h2>The Value Proposition in Action<\/h2>\n<p>Let&#8217;s take a look at some real examples and evaluate them. Are they clear, compelling and direct? Keep in mind that you may not be the target market for all of these examples. Your role as a marketer is evaluate them from the perspective of the target market.<\/p>\n<div id=\"attachment_369\" style=\"width: 611px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-369\" class=\"wp-image-369\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest-1024x685.png\" alt=\"Copyright held by Pinterest. Image used under Fair Use doctrine. View at http:\/\/pinterest.com\/.\" width=\"601\" height=\"402\" srcset=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest-1024x685.png 1024w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest-300x200.png 300w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest-65x43.png 65w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest-225x150.png 225w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest-350x234.png 350w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/pinterest.png 1500w\" sizes=\"auto, (max-width: 601px) 100vw, 601px\" \/><\/a><\/p>\n<p id=\"caption-attachment-369\" class=\"wp-caption-text\">Copyright held by Pinterest. Image used under Fair Use doctrine. View at http:\/\/pinterest.com\/.<\/p>\n<\/div>\n<h4>\u00a0Pinterest<\/h4>\n<p>This value proposition does not go into a lengthy description of what Pinterest is and how it works. It simply focuses on what benefit that offers its users.<\/p>\n<p>Notice the use of the phrase &#8220;people like you.&#8221; The value proposition connects you to the sites other users.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div id=\"attachment_371\" style=\"width: 611px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-371\" class=\"wp-image-371\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype-1024x817.png\" alt=\"Copyright held by Skype. Image used under Fair Use doctrine. View at http:\/\/Skype.com\/.\" width=\"601\" height=\"480\" srcset=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype-1024x817.png 1024w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype-300x239.png 300w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype-65x51.png 65w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype-225x179.png 225w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype-350x279.png 350w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/skype.png 1410w\" sizes=\"auto, (max-width: 601px) 100vw, 601px\" \/><\/a><\/p>\n<p id=\"caption-attachment-371\" class=\"wp-caption-text\">Copyright held by Skype. Image used under Fair Use doctrine. View at http:\/\/Skype.com\/.<\/p>\n<\/div>\n<h4><strong>Skype<\/strong><\/h4>\n<p>The value proposition first highlights Skype&#8217;s broad use, which is an important feature for its network-based approach. Next it\u00a0describes the offering.<\/p>\n<p>Again, notice the use of the word &#8220;you&#8221; in the value proposition.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div id=\"attachment_372\" style=\"width: 611px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-372\" class=\"wp-image-372\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce.jpg\" alt=\"Copyright held by Salesfoce.com. Image used under Fair Use doctrine. View at http:\/\/salesforce.com\/.\" width=\"601\" height=\"333\" srcset=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce.jpg 720w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce-300x166.jpg 300w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce-65x36.jpg 65w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce-225x124.jpg 225w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/salesforce-350x193.jpg 350w\" sizes=\"auto, (max-width: 601px) 100vw, 601px\" \/><\/a><\/p>\n<p id=\"caption-attachment-372\" class=\"wp-caption-text\">Copyright held by Salesforce.com. Image used under Fair Use doctrine. View at http:\/\/salesforce.com\/.<\/p>\n<\/div>\n<h4><strong>Salesforce.com<\/strong><\/h4>\n<p>The value proposition for Salesforce.com includes the acronym CRM, which stands for customer relationship management software. Not everyone knows this acronym but Salesforce is confident that its target market knows what a CRM is, and is seeking such a system to improve its sales management processes and results.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div id=\"attachment_377\" style=\"width: 611px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-377\" class=\"wp-image-377\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition-300x190.jpg\" alt=\"Copyright held by Uber.com. Image used under Fair Use doctrine. View at http:\/\/Uber.com\/.\" width=\"601\" height=\"382\" srcset=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition-300x190.jpg 300w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition-65x41.jpg 65w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition-225x143.jpg 225w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition-350x222.jpg 350w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Uber-Value-Proposition.jpg 720w\" sizes=\"auto, (max-width: 601px) 100vw, 601px\" \/><\/a><\/p>\n<p id=\"caption-attachment-377\" class=\"wp-caption-text\">Copyright held by Uber.com. Image used under Fair Use doctrine. View at http:\/\/Uber.com\/.<\/p>\n<\/div>\n<h4>Uber<\/h4>\n<p>This value proposition is very simple, but it describes enough about the value that you may want to learn more about how it works.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div id=\"attachment_378\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-378\" class=\"wp-image-378\" src=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition-300x147.jpg\" alt=\"Netflix Value Proposition\" width=\"600\" height=\"296\" srcset=\"https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition-300x147.jpg 300w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition-65x32.jpg 65w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition-225x110.jpg 225w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition-350x172.jpg 350w, https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/wp-content\/uploads\/sites\/4328\/2014\/11\/Netflix-Value-Proposition.jpg 720w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p id=\"caption-attachment-378\" class=\"wp-caption-text\">Copyright held by Netflix. Image used under Fair Use doctrine. View at http:\/\/netlix.com\/.<\/p>\n<\/div>\n<h4>Netflix<\/h4>\n<p>Again, Netflix does not go into the detail of how its service works. It emphasizes why you should want the service, as well as the affordability.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<h2 class=\"im_title im_editable im_block\">What Is Your Value Proposition?<\/h2>\n<p>It is helpful for students to develop their own personal value proposition. This can help you tell companies why they should hire you or why a graduate school should accept you. Show the value you bring to the situation. A value proposition will help you in different situations. Think about how your internship experience and\/or study abroad experience may help a future employer. For example, you should explain to the employer the benefits and value of going abroad. Perhaps your study abroad experience helped you understand customers that buy from Company X and your customer service experience during your internship increased your ability to generate sales, which improved your employer\u2019s profit margin. Thus you may be able to quickly contribute to Company X, something that they might very much value.<\/p>\n<div id=\"fwk-133234-ch02_s01_s01_n01\" class=\"im_key_takeaways im_editable im_block\">\n<h3 class=\"im_title\">Key Takeaway<\/h3>\n<p>A value proposition is a thirty-second \u201celevator speech\u201d 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.<\/p>\n<\/div>\n<div id=\"fwk-133234-ch02_s01_s01_n02\" class=\"im_exercises im_editable im_block\">\n<h3 class=\"im_title\">Review Questions<\/h3>\n<\/div>\n<p><iframe src=\"https:\/\/lumenoea.herokuapp.com\/assessments\/load?src_url=https:\/\/lumenoea.herokuapp.com\/api\/assessments\/424.xml&#38;results_end_point=https:\/\/lumenoea.herokuapp.com\/api&#38;assessment_id=424&#38;confidence_levels=true&#38;enable_start=true&#38;eid=https:\/\/courses.lumenlearning.com\/oakwood-principlesofmarketing\/chapter\/2-1-the-value-proposition\/\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:400px;\"><\/iframe><\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-24\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Provided by<\/strong>: Lumen Learning. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"http:\/\/lumenlearning.com\">http:\/\/lumenlearning.com<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Marketing Principles. <strong>Authored by<\/strong>: Anonymous. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"http:\/\/2012books.lardbucket.org\/books\/marketing-principles-v2.0\/\">http:\/\/2012books.lardbucket.org\/books\/marketing-principles-v2.0\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/4.0\/\">CC BY-NC-SA: Attribution-NonCommercial-ShareAlike<\/a><\/em><\/li><li>Marketing Principles. <strong>Authored by<\/strong>: Anonymous. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"http:\/\/2012books.lardbucket.org\/books\/marketing-principles-v2.0\/\">http:\/\/2012books.lardbucket.org\/books\/marketing-principles-v2.0\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/4.0\/\">CC BY-NC-SA: Attribution-NonCommercial-ShareAlike<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":7,"menu_order":8,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Marketing 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