Step 3: define value proposition

Focusing on a specific set of related needs is crucial to creating a great product. The Product Value Proposition helps select the needs to address and why it is better than the market alternatives.

The Must-have features are necessary for the product. Therefore, the core differentiators are the performance features to compete in and the delighters that are added.

A tool to create a Product Value Proposition is to make a table with the first column listing the must-haves, performance benefits, and delighters.

There must be columns for each competitor and one for the product. Must-haves and delighters are filled with a simple yes, while each performance feature is rated high, medium, or low. This table helps us clearly articulate the value proposition along with how it is differentiated from competitors.

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