A Value Proposition Canvas is a customer and provider model whereby the goods/organisation/service/outcome is devised to have a promise value. The idea is that when using this mode you are able to ‘convince’ your consumer that your product or whatever is much better, superior to that of its rivals product/creation.
Short history of the term
in 1988 the term Value Proposition (vp) was first used by Michael Lanning and Edward Michaels in a paper entitled ‘a business is a value delivery system’. The go on to define a VP as “a clear, simple statement of the benefits, both tangible and intangible, that the company will provide, along with the approximate price it will charge each customer segment for those benefits”.
The product or service that the business offers crosses over with what the customer requires. For a business in to have this type of model put in place would ideally help to generate product sales and likely create dedicated/committed customers. The model I can see will also help to successfully develop quick startups.
I am going to look at the VP canvas and deconstruct it with my own methods to see if there are any similarities between my instinctual way of working and the model that has been designed. I can already begin to see where my own methods of promoting an event such as a music night and how to deliver a good product fit into the diagram. I will be working on my value proposition canvas for my initial festival ideas for the next session.