Fig. 1: Value Disciplines trihedral
Innovation is the “combination” of inventive practices for these 3 pillars in order to meet and exceed the market expectations. As a company, you should be able demonstrate excellence for at least one of these 3 pillars.
Once you have selected a primary or secondary pillar, they will be the core of yourvalue proposition. Your value proposition is simply the translation of these key pillars into more specific benefits in your offer providing pains relievers and gains creators to a targeted audience, in a way to fill a need in your market in a unique way.
You may indeed find an unmet need in the market or you may realize that you need to find a better way to differentiate from your competitors that could be to reshape the boundaries of an existing market with a differentiated offer.
As a result, you may decide to promote a different attribute of your product, or you may find entirely new opportunities to create new products and services. Either way, you’ll strengthen your business in both the short and long term.