PGPM – NVP

Workshop
Designing Value Proposition
Associations:
 Group:1
Selected Idea: Home Gym Equipment
Submitted by:
PGPM-NVP
Rutvik Jitendrakumar FT214062
Parmar
Maryada Kashyap FT213048
Mini-workshop:3.2
Madhurima Das FT213046
Priyanka Mishra FT211057 Version: 1.01
Yogendra Singh FT214095
Samarth Lahoti FT213072 Design Value Proposition
Aditya Pradhan FT213005
Shakeel Saraf FT212073
Designing Value
Proposition
Simple and comprehensive process of designing and testing value
propositions. It takes the guess work out and helps you create products
and services that perfectly match customers’ needs and desires.

Step1: Define Your Customer segment

Step 2: Create Value Proposition and Assess Fit
Step 3: Analyze Competition, and
Step 4: Refine Value Proposition
Step 1 &
2
Define Your Customer
Segment
• You identified your niche. Use your learnings from the previous
exercise of Finding Your Niche to fill in the customer segment portion
of the value proposition canvas.
• Fill in the Customer Segment section on the right side which has three
sub-sections:
• Customer Jobs
• Pains
• Gains
• Use Post-it notes for this activity. Write on them and stick them onto
the segments of the circle.
Validation
Exercise
Once you have defined the Customer Segment of the Value Proposition
Canvas, i.e., Cutomer Jobs, Pains and Gains, you would validate the
same by interviewing potential customers and industry experts. You
would need to interview at least one industry expert and two
customers. You may record your interviews with the permission of the
interviewees, and then fill in the details in the next three tables
Validation: Customer
Jobs
Checklist Expert Customer 1 Customer 2
1. What problems are Mental blocks and early Lack of motivation to start Lack of knowledge about a
you trying to solve? fatigues that sets in during a workouts. suitable fitness regime.
prolonged workout.

2. What tasks are you Keep user engaged in a Bring the user slowly Inform the user about a
trying to perform or long workout session into fitness activities customized program
complete? through appropriate through interactive through interactive
visuals. games. tours and obstacle
tests.
 Validation: Customer
1. Pains
Checklist Expert Customer 1 Customer 2
What do you find too costly? The fitness booster program
membership.
2. What makes you feel bad? Upfront cost is high and the
gain is doubtful.
3. How are the current solutions The enrollment cost is
underperforming for you? discouraging.
4. What are the main difficulties Justifying the return on
and challenges you encounter? investment.
5. What negative social The workout may not be
consequences do you encounter or effective and fail to give a
fear? visible result.
6. What risks do you fear? Loosing the current fitness
level.
7. What keeps you awake at Dissonance about the
night? investment.
8. What common mistakes do Worry too much about the
you make? long term implications.
 Validation: Customer
Checklist
Gains
1. Which
happy?
savings would make you Time savings.
2. What outcomes do you expect
and what would go beyond your
expectations?
3. How do current solutions delight
you?
4. What would make your job or
life easier?
5. What positive social
consequences do you desire?
6. What are you looking for?
7. What do you dream about?
8. How do you measure success
and failure?
9. What would increase the
Expert Customer 1 Customer 2
A healthier lifestyle and
sustainability.
The promises made by the
Augmented Reality.
A smaller buy-in, possibly a
fremium try-out.
A visible change in health
noticed by colleague.
A higher fitness level.
Reaching the fitness level of
an athlete.
Stamina levels.
Small but perceptible
changes.
Value Proposition and
Fit
Value Proposition and
Fit
1. You have completed the Customer Segment portion of the canvas
which was the right section of the canvas. Now you will work on the
Value Proposition, the left side of the canvas, which has three sub-
sections:
• Products and Services
• Pain Relievers
• Gain Creators
Value Proposition and
Fit
2. Fill in the Products and Services sub-sections with all the products and services
that you offer.
3. Use the questions listed below to help you fill in the Pain Relievers sub-section:
• What would produce savings for your customers?
• What would make your customers feel better?
• What would fix underperforming solutions?
• What would put an end to difficulties and challenges that your customers encounter?
• What would wipe out negative social consequences your customers encounter or fear?
• What would eliminate risks your customers fear?
• What would help your customers sleep better at night?
• What would limit or eradicate common mistakes customer make?
• What would get rid of barriers that are keeping your customer from adopting solution?
Value Proposition and
Fit
4. Use the questions listed below to help you fill in the Gain Creators sub-section:
• What would create savings that make your customer happy?
• What would produce outcomes your customer expects or that go beyond their expectations?
• What would copy or outperform current solutions that delight your customer?
• What would make your customer’s job or life easier?
• What would create positive social consequences that your customer desires?
• What would do something customers are looking for?
• What would fulfill something that customers are dreaming about?
• What would produce positive outcomes matching your customers’ success or failure criteria?
• What would help make adoption easier?
5. Use Post-it notes to complete the exercise on Value Proposition segment.
Assessing
FitAfter you have filled in the Products and Services, Pain Relievers, and Gain Creators, you need
to assess if your value proposition is a good fit to your customer segment. Use the following
checklist:
1. Does it focus on the most important jobs, most extreme pains, and most essential gains?
Yes/No
2. Does it focus on unsatisfied jobs, unresolved pains, and unrealized gains? Y/N
3. Does it concentrate on only a few pain relievers and gain creators but does those extremely
well? Y/N
4. Does it align with how customers measure success? Y/N
5. Does it focus on jobs, pains, or gains that a large number of customers have or for which a small
number are willing to pay a lot of money? Y/N
6. Does it differentiate from competition in a meaningful way? Y/N
7. Does it outperform competition substantially on at least one dimension? Y/N
8. Is it difficult to copy? Y/N
PS: If you have answered with a “NO”to four or more questions, it is recommended you revisit and
tweak your Value Proposition.