C HAPTER T WO
Customer Value
A framework is offered to analyze the customer’s experience with the
product to identify customer pain points. The customer value design
involves an analysis of the customer pain points and the competitors’
weaknesses, and then selecting the target customers and a set of resonate-
focused value propositions in order to lower the barriers to market entry
and minimize the inherent resistance from competitors. The opportunity
scores are used to rank potential customer-value creation opportunities,
based not only on how important a value creation opportunity is to
the customer, but also on the level of customer dissatisf action with the
existing products. The customer value propositions can be further dis-
aggregated into three basic elements, the content, the context, and the
enabling infrastructure; then these three elements can be reconstructed
and re-aggregated to create a more powerful customer value offering.
The customer value offering links the customer pain point to the product’s
capabilities relative to the competitors’ weaknesses.
Customer value offered must serve the customer’s need and get the
customer’s job done. Customer value design requires an understanding of
the customer experience with the product and the customer pain points.
The customer value design process involves selecting the target customer
segments and constructing the value propositions to increase the likeli-
hood of product acceptance in a market while minimizing resistance
from the competition. An entrepreneur must be familiar with the target
customer’s needs and desires, the customer’s job-to-be-done and their
challenges, the customers who might value the new product offering,
the existing and potential competitors, the available substitute products
or services, and the basis of competition.Without a thorough knowledge
C. S. Mishra, Getting Funded
© Chandra S. Mishra 2015