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It's Time to Rethink the Value Proposition

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The very premise of what we know and do is changing. We need to realize that following the USP model and digitizing existing products and services through our current lens might not work in the long-term. With the evolving role of the consumer now interacting within a connected network of companies and other individuals to co-create value, value won’t necessarily be embedded in products and services, rather the products serve as an anchor by which compelling individual experiences are created.

Veröffentlicht in: Business

It's Time to Rethink the Value Proposition

  1. 1. IT'S TIME <br>TO RETHINK THE VALUE PROPOSITION<br>
  2. 2. 88% of companies <br>are undergoing a digital transformation <br>
  3. 3. DIGITAL IS NOT SLOWING DOWN <br>fueling the next generation of disruptors across their industries and markets.<br>
  4. 4. Could digitization <br>BE just the first stop on a greater journey of adapting to the change?<br>
  5. 5. THE CHANGE THAT'S OCCURING <br>HAS A LOT TO DO WITH THE WAY BUSINESSES CREATE AND CAPTURE VALUE<br>
  6. 6. THE VERY FOUNDATIONAL <br>PRINCIPLES THAT MANY COMPANIES HAVE BEEN BUILT ON<br>
  7. 7. are being challenged <br> EVERY DAY<br>
  8. 8. IN TRADITIONAL PRODUCTS &amp; SERVICES COMPANIES <br>CREATING VALUE = <br>
  9. 9. IDENTIFYING CUSTOMER NEEDS + <br>DESIGNING SOLUTION FOR THOSE NEEDS<br>
  10. 10. IN A CONNECTED ECONOMY <br>VALUE CAN BE CO-CREATED IN SO MANY DIFFERENT WAYS<br>
  11. 11. MOVING CONSUMERS FROM PASSIVE RECIPIENTS <br>TO ACTIVE CO-CREATORS OF VALUE<br>
  12. 12. COnsider Uber<br>
  13. 13. The 'job to be done' for a taxi is <br>getting from point a to point b<br>
  14. 14. The Value is limited to getting a passenger to their destination in a more convenient way over comparable options<br>
  15. 15. uber builds on this context <br>and allows consumers to co-create their experience<br>
  16. 16. choose your price and style <br>ECONOMIC VALUE: black suv or carpool?<br>
  17. 17. choose your driver <br>VALUE IN safety and effeciency<br>
  18. 18. and even more tailored experiences <br>WIFI, FLOWERS... ENDLESS POSSIBILITIES<br>
  19. 19. that's value co-creation<br>
  20. 20. &quot;One and done&quot; <br>as we move from<br>
  21. 21. into connected services <br>companies must evolve<br>
  22. 22. slowly <br>however, they are evolving too<br>
  23. 23. DROWINING in a sea of messages <br>using the same-old propositions THAT ARE<br>
  24. 24. part of the reason IS <br> that since the 60's, we've used the same concept<br>
  25. 25. THE USP <br>UNIQUE SELLING PROPOSITION<br>
  26. 26. invented by <br>rosser reeves, an ad agency chairman<br>
  27. 27. the USP IS BASED ON <br>3 key things<br>
  28. 28. &quot;buy this product and get this benefit&quot; <br>1 - makes a proposition to the consumer<br>
  29. 29. cannot or does not do or claim <br>2 - must be a proposition that the competition<br>
  30. 30. mass millions <br>3 - it must be strong to move<br>
  31. 31. THE USP IS STILL AT THE CUSP OF <br>MODERN DAY MARKETING<br>
  32. 32. BUT THE WORLD HAS CHANGED<br>
  33. 33. value is not <br> necessirly embbedd in products anymore<br>
  34. 34. the consumer is now <br>interacting within a connected network of companies<br>
  35. 35. WE are no longer <br>passive consumers of offerings<br>
  36. 36. WE are active <br>contributors to value creation<br>
  37. 37. for businesses <br>this represents a mindset shift<br>
  38. 38. that goes way beyond <br>just digitization<br>
  39. 39. welcome to a world<br>
  40. 40. that is rapidly shifting<br>
  41. 41. from a one-way transaction<br>
  42. 42. TO a reciprocal relationship<br>
  43. 43. where both parties <br>help each other and help each other help each other<br>
  44. 44. we need to think bigger <br>way beyond usp<br>
  45. 45. and right into a world where <br>value gets co-created<br>
  46. 46. chime in <br>www.reuvengorsht.com  |  @reuvengorsht<br>

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