Recognize and Understand the Market

Value refers to what the product does for customers that they’re

prepared to pay.

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Marketing concept that was first proposed as a theory to understand

the pattern in successful advertising called Unique Selling Proposition.

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In creating value proposition, entrepreneurs will consider the four (5)

basic elements.

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Unique selling proposition is specific, often citing numbers or

percentages.

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The effective selling using advertising and marketing is part of value

proposition.

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Identify and rank the uniqueness of the product or services character

is one tip for the entrepreneur on how to create an effective value proposition.

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The Entrepreneurs will not consider the health benefits of the

consumers as long as the gross profit is high.

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Consumers have common wants and needs in a product.

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The market targeting is a stage in market identification process that

aims to determine the set of buyers with common needs and

characteristics.

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Identifying the unique selling proposition will not require marketing

research.

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