This section explores the value proposition by examining its three components, starting with the product itself. Understanding what constitutes your value proposition is important, whether it involves hardware, software, books, or manufacturing goods. It could also include intangible products like copyrights and licenses, financial products such as guarantees or insurance policies, or even maintenance contracts. Additionally, digital features might be integrated into your offering. The key point is that your product and service extend beyond mere physical items or software; they encompass a range of elements that contribute to the overall value you provide. For companies selling services, the value proposition follows a similar principle. It's important to identify the core services that form part of your value proposition, whether it's consulting, haircuts, or investment advice. Even if you're selling software or hardware, there may be additional services that enhance the overall product experience, such as pre-sales and post-sales services, finding the right solution, financing options, or free delivery. Companies like Amazon have built successful businesses by offering services like one-day or two-day delivery which enhance their product offerings and differentiate them from competitors. After-sales services also play a role in the value proposition by contributing to the overall customer experience. These services might include free maintenance, disposal, or other support options that add value to the product. By considering all these aspects—product features, core services, and after-sales support—you can create a value proposition that meets customer needs while setting your offering apart from competitors. This approach ensures that your product or service delivers maximum value to your customers. ## Activities - Watch the video [Value Proposition Product](https://youtu.be/0lF7F7YA02g) ([[Udacity - How to Build a Startup]], Lesson 5.9) - Watch the video [Value Proposition Services](https://youtu.be/f2Gg1W6PAEY) ([[Udacity - How to Build a Startup]], Lesson 5.10) Next: [[Pain Killers and Gain Creators]] Back to: [[What Will Be Your Unique Value?]]