Answer: value proposition
Explanation:
In simple terms, a value proposition makes a case for why a customer should pick one product over another, citing the unique value the product provides over its contenders.
The Business Model Canvas value proposition provides a unique combination of products and services which provide value to the customer by resulting in the solution of a problem the customer is facing or providing value to the customer. This is the point of intersection between the product you make and the reason behind the customer’s impulse to buy it. A product can have a single value proposition or multiple value propositions.
Most start-ups fail to define their value proposition before they launch their products. This is because entrepreneurs tend to give too much credence to the ‘idea’ they have and run with it as opposed to exploring how this idea would actually perform in the market.
When building a business model, the value proposition canvas is where the offering goes - how you plan to solve the pains or create the gains for your customer.
A value proposition canvas is defined as the study involving the problems faced by a consumer and the solutions provided by the business to obtain a level of equilibrium.
It is to be noted that a mere advertisement for the product does not help in setting the value proposition if it does not describe how the product is helpful in solving the difficulties of consumers.
Hence, value proposition canvas helps how a business plans to solve the problems and make revenue from selling such product to the customer while building a business model.
Learn more about value proposition canvas here:
https://brainly.com/question/3130122
