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Group 1 Entrep

The document discusses value propositions and unique selling propositions. It provides an example of a sari-sari store owner, Aling Charing, who wants to operate 24/7 to serve customers who shop late at night. Her proposed value proposition is "Charing Sari-sari Store, opens 24/7". The discussion then covers how to identify and create an effective unique selling proposition that emphasizes what differentiates a product or service from competitors and is specific, short, and simple. Both value propositions and unique selling propositions are important tools for entrepreneurs to explain why customers should purchase their offerings.

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Jaynee Josue
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114 views1 page

Group 1 Entrep

The document discusses value propositions and unique selling propositions. It provides an example of a sari-sari store owner, Aling Charing, who wants to operate 24/7 to serve customers who shop late at night. Her proposed value proposition is "Charing Sari-sari Store, opens 24/7". The discussion then covers how to identify and create an effective unique selling proposition that emphasizes what differentiates a product or service from competitors and is specific, short, and simple. Both value propositions and unique selling propositions are important tools for entrepreneurs to explain why customers should purchase their offerings.

Uploaded by

Jaynee Josue
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Group 1 Report

Jaynee: Value Proposition (VP) is a business or marketing statement that summarizes why a consumer should buy
a company’s product or use its service. This statement is often used to convince a customer to purchase a particular
product or service to add a form of value to their lives. In creating Value Proposition, entrepreneurs will consider the basic
elements:

Arc:

● Target Customer
● Needs/Opportunity
● Name of the Product
● Name of the Enterprise/Company

Jaynee: There are many competitors in the market to establish superiority to them. Entrepreneurs should think
some alternative and how it works better. An important aspect in Value Proposition must be truthful that will establish
credibility to the consumers.

Shemaiah (Narrator): Example: Potential Value Proposition is most common in small businesses of your locality.

Chester (Aling Charing) and Narrator: Aling Charing Sari-Sari Store Open only from 6:00am to 6:00pm, but Aling
Charing noticed that there are customers who go nearby town to look for a convenience store at around 10:00pm to
6:00am. She believes that this is a great opportunity for her store to operate 24/7. In this example, proposed value
proposition: “Charing Sari-Sari Store, opens 24/7”

Shemaiah: The business describes sari-sari store – a basic retail store. The assurance from this value proposition is
because of the phrase “opens 24/7”, Aling Charing Sari-sari Store opens 24/7, which make it different from other
competitors.

Princess: Unique Selling Proposition (USP) refers to how you sell your product or services to your customer. You will
address the wants and desires of your customers.

As an entrepreneur, you think of marketing concept that persuade your target customers. The following questions
you may ask in doing this, What the customers want? What brand does well? What your does well?

Chester: Some tips for the entrepreneur on how to create an effective unique selling proposition to the target customers:

· Identify and rank the uniqueness of the product or services character

· Very Specific

· Keep It Short and Simple (K.I.S.S.)

Bobby: Identifying the unique selling proposition requires marketing research that you will learn from other modules. In
promoting your products or services, make sure that it is very specific and put details that emphasize the differentiator
against the competitors. Keep it short and simple and think of a tagline that is easy to remember. Right now, the proposed
unique selling proposition: “Charing Sari-sari Sore, opens 24/7”.

Angel: Readers get confused between value proposition and unique selling proposition. The two propositions are used to
differentiate the products from competitors. For example, Jollibee is known to have a Filipino taste burger. This brand has
a unique selling point because of its tagline “Langhap Sarap”

Jaynee: Unique Value Proposition and Value Proposition are two most famous tools used to explain why prospect
customers buy each product and services. Based on each definition, we learn that USP and VP are frameworks of each
business industry. The two propositions are valuable for the entrepreneurs. After you understand the value proposition and
the unique selling proposition, now it’s time to understand the target market, customers requirement and market size.

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