CHAPTER 5
Value Proposition
Content Summary
Value proposition is like a proposal for marriage. It’s an idea for a relationship between a customer and a company in which both sides give something of value. And if the value proposition is valuable for the customers, the relationship between them and the company can take the next level. However, keep in mind that a good relationship is always reciprocal: both sides need to give the other something of value.
This lecture explains what value proposition is with the example of IKEA’s “kids eat free” campaign. Multiple more examples of value propositions are introduced to illustrate the concept even better. Finally, the lecture explains the well-known value proposition canvas and shows how it fits the IKEA example.
Further readings
- Video: Jeff Gothelf: Lean, Agile & Design Thinking — Principles over process. YLE Areena.
- Kanter, R.M., 1989. Swimming in newstreams: Mastering innovation dilemmas. California Management Review, 31(4), pp.45–69.
- Schneider, J. Understanding Design Thinking, Lean, and Agile. O’Reilly 2017.
- Gothelf, J. Lean vs. Agile vs. Design Thinking. Sense and Respond Press, 2017.
- Wenger, E. Communities of Practice: Learning, Meaning, and Identity ,Cambridge University Press, 1998.
