#Reflection What Is your (Brand’s) Value Proposition? By Dolapo (Dolly) Otegbayi

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    #Reflection What Is your (Brand’s) Value Proposition? By Dolapo (Dolly) Otegbayi
    #Reflection What Is your (Brand’s) Value Proposition? By Dolapo (Dolly) Otegbayi

    In #Marketing101, Brand Managers are taught the concept of #valueproposition.

    This is important because prior to creating your marketing or creative strategy and execution plan, you first have to develop a Value Proposition (VP).

    A Value Proposition (VP) is a thirty-second “elevator speech” stating the specific benefits your Brand (product or service offering) provides the target customer / buyer (Principles of Marketing – University of Minnesota, 2010) It shows and tell why your Brand (product or service) is superior to competition, highlighting your distinctive assets.

    Value Proposition addresses the following why:

    – Why should consumers buy your brand?

    – Why should consumers visit your store / outlet?

    – Why should Organizations hire your Agency?

    – Why should the company hire you?

    – Why should you be admitted to your University/ college of choice?

    Value Proposition is a critical component in shaping your strategy.

    Implication:

    For Brand Managers, Q4 is a busy period where we collaborate with the Commercial Team to finalise the Brand’s Marketing Plan(s) for the next business year.

    The VUCA environment might have necessitated a change in Brand strategies and execution, or new consumer behaviour emerging/ identified; whatever the reason, it’s time to review your Brand’s Value Proposition! Remember! Your VP is not an encyclopedia about your Brand.

    Read Also:  Why Should You Opt For A Global MBA Over A Regular MBA?

    It is a 30-second “elevator speech” stating the specific benefits a product or service offering provides the target customer / buyer!