Value Proposition

A value proposition is an “elevator pitch” for a product or service – a clear and concise description that summarizes what the product is, who the target users are, what problem or need it solves, and what benefit or value it provides.

The value proposition is a quick way to communicate your product concept to outside people. In addition, the value proposition provides focus for the team designing and developing the product.

There are different formats or templates for creating a value proposition. Here is a commonly-used template that works well for most products and services:

• For [describe target users] who [describe problem or need], [name of product] is a [describe type of product] that [describe benefit or value].

Student Example

For teachers who struggle with taking attendance all day or find it disruptive to the beginning of class, Attendance Checker is a device that will help make attendance easier for every class period of the day where students initiate the check-in as they enter the classroom.