Identify Benefits of Your Business Idea in the Value Proposition. The value proposition addresses one question: why is your solution best? In our textbook, a value proposition is
Identify Benefits of Your Business Idea in the Value Proposition. The value proposition addresses one question: why is your solution best? In our textbook, a value proposition is defined as small business owners’ unique selling points (or benefits) that customers can expect from your goods or services including benefits that differentiate your offering from those of competition. The value proposition helps the entrepreneur focus on the most important aspects of your business.
In this assignment you will prepare a value proposition for the business idea that your instructor approved for your Unit #2 assignment. The value proposition should include the following information:
- For (target customer)
- Who (statement of need or opportunity)
- The (retail business name) is a (product or service category)
- That (statement of key benefit)
- Unlike (primary competitive alternative)
- Our business (statement of primary differentiation)
- Is available (where)
MGS3013
Unit 3 AS: Value Proposition
Example of Outline
Here is an example of the outline (please add as much details as you can):
Health Food Store Value Proposition serves residents of Union, NJ with a household income of $x and up who need advice regarding natural alternatives to health-related issues…
HFS is a health food store which provides the local community with vitamins and herbs …
Unlike our competition (an actual business name here), our business has a knowledgeable business owner on staff who is a nurse w/ 25+ yrs. experience running her own health food store …
Health Food Store will be located on Morris Ave in Union, NJ…
You will expand upon your value proposition when you write your business plan.
Rubric Detail A rubric lists grading criteria that instructors use to evaluate student work. Your instructor linked a rubric to this item and made it available to you. Select Grid View or List View to change the rubric's layout.
Superior Su"cient Minimal Unacceptable
Required Components
6 (40.00%) – 6 (40.00%)
Assignment includes all components and meets or exceeds all requirements indicated in the instructions. Each question or part of the assignment is addressed thoroughly.
4 (26.66666%) – 5 (33.33333%)
Assignment includes all components and meets all requirements indicated in the instructions. Each question or part of the assignment is addressed.
2 (13.33333%) – 3 (20.00%)
Assignment is missing some components and/or does not fully meet the requirements indicated in the instructions. Some questions or parts of the assignment are not addressed.
0 (0.00%) – 1 (6.66666%)
Either no assignment or assignment excludes essential components and/or does not address the requirements indicated in the instructions. Many parts of the assignment are addressed minimally, inadequately, and/or not at all.
Feasability of Value Proposition
8 (53.33333%) – 9 (60.00%)
Unique/well thought out value proposition that clearly demonstrates
5 (33.33333%) – 7 (46.66666%)
Well thought out value proposition that demonstrates a market need
2 (13.33333%) – 4 (26.66666%)
Value proposition has the potential for a good
0 (0.00%) – 1 (6.66666%)
The value proposition does not appear to be viable or likely to lead to
Name: Value Proposition Rubric Exit
Grid View List View
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demonstrates a market need for the product/service with a strong competitive advantage. The business has potential to be highly pro"table or do an excellent job of meeting the entrepreneur’s stated goals.
a market need for the product/service with a potentially strong competitive advantage. The business has potential to be pro"table or do a good job of meeting the entrepreneur’s stated goals.
a good business but needs further clari"cation in several areas. Competitive advantage is either not strong enough or not clear. The business would not be fundable or is not likely to be pro"table.
to lead to pro"ts, and the plan is substantially below average from a competitive standpoint.
Name:Value Proposition Rubric Exit
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