Let me define what I mean before I relate it to the lighting industry. Much has been written about the value proposition, the almost holy value proposition. You mean you do not know what your value proposition is….shame / shame! Read my lips: tell me what value you bring to the market. What makes you better than your competition? On and on and on…… We must teach it at the under-graduate and graduate level in any marketing course and I have often wondered that maybe we place too much emphasis on it. In its simplest terms, a value proposition is a positioning statement that explains what benefit your product or service provides for your customers and how you do it uniquely better than your competition. Simply, it’s what you actually provide that is tangible or intangible and everything else your customer needs to make it acceptable to them as a solution. Well, that does sound like VALUE! Warren Buffet tells us that we sell on price while customers buy on value.
With that said, I think I just justified why we must sell on the Whole Customer Value-Added Proposition, with emphasis on value-added. In the high-tech digital world that we now find ourselves, my view is that we must expand the concept and must address three (3) distinct offerings and they must work together:
1. The Product
2. The Solution
3. The Service
Now let’s look at the transition happening in the lighting industry…..and the Whole Customer Value-Added Proposition necessary if you intend to play in this new game. Well Folks, I did not finish this blog…….too much going on right now. The plan is to finish it this week……..stay tuned.
If you have any thoughts, let me know and I’ll credit your participation.