You Can Find a Blue Ocean
- Which features the industry takes for granted should be eliminated?
- Which features should be reduced well below the industry’s standard?
- Which features should be raised well above the industry’s standard?
- Which features should be created that the industry has never offered?
Value Proposition Criteria
But being different is not enough. When constructing your value proposition, it is useful to think of it as a three-legged stool which is already somewhat wobbly. What happens if you remove one leg? The stool tips over. It’s the same with value propositions. To be strong, they must meet the following three criteria:
- Resonance: Customers must have a real need for the product.
- Differentiation: Customers should find it difficult to obtain a substitute the product.
- Substance: Customers must believe the product lives up to its promises.
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