Articulating your product’s value proposition

Understanding and articulating your product’s value proposition is a key concept in developing your marketing plan. The process usually begins with developing a SWOT analysis for your company and/or product. Video: Developing a SWOT Analysis (Links to an external site.). The value proposition is key to positioning your product in the mind’s eye of your customer relative to the competition. The most effective value propositions provide a powerful bond between the firm and its products and the customers it serves. Following the steps outlined in the video, above, develop a value proposition for Allround. Review relevant information to understand its applications and customer value. Once you are satisfied with your value proposition, share it herein with your peers. Constructively evaluate at least two of your peers’ value propositions, with regard to whether you believe the propositions will resonate with the customers and distinguish the firm from its competitors. Keep in mind the best value propositions are three to five words and rarely more than eight. Your responses to the discussion board must be well written according to the CSU-Global Guide to Writing & APA. (Links to an external site.)