Value Proposition Canvas Analysis 2022

Venture Value Proposition Task: Develop a value proposition for a new venture of your own design. This venture value proposition should identify appropriate fit between product and market and be evidence based. The evidence base should employ desk research (e.g. to observe trends), and potential customer interviews or surveys (e.g. to isolate their needs or problems). The value proposition should clearly prioritise customer problems/needs/issues and list any alternative solutions currently available; identify targeted customer segments and the characteristics of potential early adopters; articulate a clear and compelling message that reveals a unique value proposition. Outcome: Prepare a Report that outlines the potential of the technology or business concept for your venture that communicates the value proposition and delineates a realistic customer profile. Consider using the frameworks, concepts and tools presented in the course to motivate your analysis.

Venture Value
Proposition
1

Table of Contents
1.0 Introduction................................................................................................................................3
2.0 Venture Concept Overview........................................................................................................3
3.0 Value Proposition Canvas..........................................................................................................3
3.1 Customer Profile....................................................................................................................4
3.1.1 Customisation....................................................................................................................4
3.1.2 Newness..............................................................................................................................4
3.1.3 Performance......................................................................................................................4
3.1.4 Getting the job done.........................................................................................................4
3.1.5 Design.................................................................................................................................5
3.1.6 Brand/ Status.....................................................................................................................5
3.1.7 Price...................................................................................................................................5
3.1.8 Cost Reduction..................................................................................................................6
3.1.9 Risk Reduction..................................................................................................................6
3.1.10 Accessibility.....................................................................................................................6
3.1.11 Convenience/ Usability...................................................................................................6
3.2 Value Proposition..................................................................................................................7
3.2.1 Products and Services.......................................................................................................7
3.2.2 Pain Relievers....................................................................................................................7
3.2.3 Gain Creators....................................................................................................................7
3.2.4 Marketing Strategy...........................................................................................................7
4.0 Recommendation and Conclusion.............................................................................................8
REFERENCES................................................................................................................................9
2

1.0 Introduction
It is the responsibility of organisation to solve problems and issues of society in proper way
(Baldassarre and et. al., 2017). For that purpose, new venture is established to fulfil need and
requirements of people and society. While analysing market, it has found that people living in
society are facing problem with gardening due to less space they have at their home. In order to
resolve this, vertical gardening concept has raised to solve issues of people. It is the concept of
gardening which is performed at walls, parks, grows upward rather than on grounds. This is very
unique and attractive way of gardening flowers and vegetables. The name of organisation is
“Bright Future” which provides customised gardening services to consumers.
2.0 Venture Concept Overview
The venture which is going to establish at market is vertical gardening in order to solve
problem of people so that they can grow crops, flowers at their house to make it more attractive
and unique at small space. This concept has arise at marketplace to solve issues of those people
who are staying at apartment and want to plants at their home but due to less space they are
unable to perform it. This venture will assist them to solve their problem and make their home
more attractive and unique. The name of venture is Bright Future which will provide products as
well as services to consumers. In case of UK, this business is earning profits of 5000 billon
pound and 5 out of 10 are ready for vertical gardening.
3.0 Value Proposition Canvas
This is the way of providing value to customers by solving their problems which they have
faced at marketplace (von Briel, Davidsson and Recker, 2018). It is the intersection among
product made by company and reason behind customer’s buy it. Products can have single as well
as multiple value propositions. In case of Bright Future, it is focusing on solving issues and
problems of their consumer to raise value proposition for their products and services. It is
focusing on different products such as GroVert Planters, Algreen Vertical Living Wall Planter,
Apex Intertrade Modular Living VPlant and so on. This provides customised services according
to consumers and increase value proposition. It is very important to consider elements of value
proposition as loophole.
3

3.1 Customer Profile
3.1.1 Customisation
Customers are regarded as king of market who prefers high quality value products and
services. Bright Future creates value proposition of their business through customisation service.
While above organisation provide vertical gardening to users they should show trial of services
at small place so that trust and loyalty is created towards business. Most of the business survives
at society due to customisation options. Requirements of every customer are different from one
another so they should be provided with option of customisation to fulfil their need and demand
in most effective manner for positive outcomes. Main target is to provide 6 out of 10 customers
with product and services of vertical gardening so that business can earn good amount of profits.
3.1.2 Newness
Value proposition should be based upon newness in terms of technology as well as
innovation (Cosenz and Noto, 2018). Bright Future is focusing on vertical gardening which is
new concept at marketplace. It has their own mobile app where consumers can see full details in
terms of product design, quality, review of consumers, prices, services and many more. It creates
easiness for consumers to use such app and get services as well as products liked by them in best
way. Therefore, respective organisation should focus on creating newness and innovation in their
existing products and services.
3.1.3 Performance
Value proposition is created through performance it has done at marketplace. Bright Future
is new venture so it is difficult to identify their performance as concept is very unique and
innovative which can be like by all people who loves gardening (Covin and et. al., 2015). With
the providing of products variety as well as service, it will create value proposition in terms of
performance. The most important thing is that it will provide customised services according to
requirements of different customers. In order to create high performance, it is very important to
have highly skilled and capable employees at organisation.
3.1.4 Getting the job done
When product assist business as well as consumers reaching end goal then value proposition
is getting the job done (Günzel-Jensen and Holm, 2015). In terms of Bright Future, first stage is
to establish business and then fulfilling need and requirements of consumer then it is called as
4

getting job done. It is important elements of value proposition to enhance productivity and
profitability of business. This is very important to work in effective manner for getting job done.
Bright Future as new venture has to get their job done by providing of premium value products
and services to their target customers and attain set outcomes.
3.1.5 Design
It is also regarded as important value proposition to enhance large number of customers in
an effective and efficient manner (Wood and Mckinley, 2017). Bright Future does not have
particular design but they mainly focus on their consumer’s requirement for designing product.
Design is made on vertical walls of house, park, balcony and others. According to availability of
space, design is performed as per instruction given by customers. Therefore, overall design made
by Bright Future is very attractive and unique which is liked by all types of consumers.
3.1.6 Brand/ Status
Brand and status are similar to each other. It is essential to create loyalty for brand so that
customer will buy that brand product only (Kirkley, 2016). In case of new venture, brand will be
created by doing promotional activities as well as awareness will be done among consumer
regarding uniqueness in their products and services. Bright Future will create brand value
through providing free trail of their products and services to consumers and create awareness
among users. This is the element which leads business to high success and growth at competitive
market.
3.1.7 Price
It is common elements of value proposition which is based on price. Before initiating
business, it is very important to decide prices for products as well as service (Margiono, Zolin
and Chang, 2018). Bright Future is new venture which has to enter into market with making of
low profit margins for their product. The price of product is different as it is customised based
company so as per requirements of users they provide them with service and product. It is very
important to render high quality services in effective manner. It is concluded that Bright Future
has reasonable strategy. The minimum prices start from 5000 pounds and goes up to 50,000
pounds. Apart from this, as per need and demand of customers products and services are
provided.
5

3.1.8 Cost Reduction
Products and services are catering towards enhancement of customer experience by reducing
cost to users which incurred to cost reduction value proposition. Technology plays effective role
in assisting consumers to reduce cost. Bright Future has their own app where customer can book
their first trail at free of cost and know more about their product, quality, services and other
factors. This will helps in saving time as well as cost to consumer as through help of app they
book their first trail free and avail services.
3.1.9 Risk Reduction
When product is of high value then there is reduction of risk. Bright Future provides high
quality products and services to their consumers (Meglio, Destri and Capasso, 2017). It has
employed skilled and trained staff for performing vertical gardening in innovative and unique
way so those requirements of users are fulfilled in effective and efficient manner. Respective
organisation focus on providing one year warranty for raw materials use while performing
vertical gardening. This helps to reduce risk of customer while availing services from respective
organisation. Product whose risk is less create value proposition for customer and are safer.
3.1.10 Accessibility
This is the way to make availability of products to consumers. In case of Bright Future, they
have application where area, location and place are clearly mentioned for service and product
availability (Neumeyer and Santos, 2018). This make easy for consumer to get product as well as
service at their place in most effective manner. Also Bright Future has their own website and
consumer can ask any query to business and get their problem solves in best manner. In future
time, it will cover large market segment with their brand value and product in effective manner.
3.1.11 Convenience/ Usability
The product should raise convenience of their consumer by possessing special
characterised within it so that they can gain value at marketplace. It is very important for Bright
Future to make convenience to their users along with good usability. In case of respective
organisation, it provides unique as well as creative designing products to consumer which
enhances value and beauty of their houses. Therefore, product should be combining of
convenience as well as usability for customers which help them to rise their profit and business
level.
6

3.2 Value Proposition
For designing product, it is very important to think out of box in terms of using
technology, innovation and so on (Park, LiPuma and Prange, 2015). Value proposition is
designed through utilising value proposition canvas which identifies three components. Firstly,
new venture has to understand pain and gain of customer’s profile, then product and services and
lastly matching customer profile and value profile.
3.2.1 Products and Services
This is essential in beginning to do evaluation of services and products in which
proposition is built. Products can be tangible or intangible and categorised as financial or digital
(Roma, Gal-Or and Chen, 2018). It is crucial to know about requirement of customer and
accordingly design products for them in most effective manner. Bright Future has manufactured
product after analysis of market and their requirements. Consumers were facing problem of
gardening so they chose vertical garden business so that they can design their home in attractive
and unique manner. Product should serve functional, emotional and social requirement.
3.2.2 Pain Relievers
It is another reason for designing value proposition. Product should solve problem of
customer which they are facing. This is regarded as chronic pain which is faced by customers
who are going through such pain. Bright Future has design value proposition for their consumers
to provide pain relievers to arise problems. The pain could be in form of emotional stress and
increase risk. Moreover, Bright Future has to keep on doing innovation in their existing products
and services to make customer complete pain relievers.
3.2.3 Gain Creators
It is the way of designing value proposition in which new venture has to evaluate how
products and services are leading towards customer gains (Scarlata, Zacharakis and Walske,
2016). This will help in understanding about how product enhances experience of customer
through fulfilling their expectations which they have faced at marketplace.
3.2.4 Marketing Strategy
This is also part of designing value proposition to create awareness among consumer
regarding product and service (Vogel, 2017). It is possible through marketing strategy which is
overall game plan to reach to final consumers. Bright Future has to consider overall plan and
7

strategy of business in effective manner so that goal and objectives are attained. It is very
important for respective organisation to use promotional tools, techniques, SWOT analysis,
PESTLE for marketing strategy so that products can be launch successfully at marketplace.
4.0 Recommendation and Conclusion
After analysis of above, it has recommended to Bright Future to analyse market in best
manner and according to need and demand of consumers products and services should be
provided so that they could sustain at marketplace. It is very important for respective
organisation to make proper changes and implement those in their daily working so that best
outcomes are attained.
The report concluded that new venture is established to fulfils requirements of consumers
and solve their issues and problems in effective way. Value proposition has created for rising
value in minds of consumers and users in positive manner. It has different elements which helps
new venture to establish business at marketplace. This includes product, design, brand, status,
cost reduction, risk reduction, accessibility and convenience and so on. It is also important to
design value proposition in terms of product, service, gainer benefits and pain relievers.
8

REFERENCES
Books and Journals
Baldassarre, B., Calabretta, G., Bocken, N. M. P. and Jaskiewicz, T., 2017. Bridging sustainable
business model innovation and user-driven innovation: A process for sustainable value
proposition design. Journal of Cleaner Production. 147. pp.175-186.
Cosenz, F. and Noto, G., 2018. A dynamic business modelling approach to design and
experiment new business venture strategies. Long Range Planning. 51(1). pp.127-140.
Covin, J. G., Garrett Jr, R. P., Kuratko, D. F. and Shepherd, D. A., 2015. Value proposition
evolution and the performance of internal corporate ventures. Journal of Business Venturing.
30(5). pp.749-774.
Günzel-Jensen, F. and Holm, A. B., 2015. Freemium business models as the foundation for
growing an e-business venture: a multiple case study of industry leaders.
Kirkley, W. W., 2016. Creating ventures: decision factors in new venture creation. Asia Pacific
Journal of Innovation and Entrepreneurship.
Margiono, A., Zolin, R. and Chang, A., 2018. A typology of social venture business model
configurations. International Journal of Entrepreneurial Behavior & Research.
Meglio, O., Destri, A. M. L. and Capasso, A., 2017. Fostering dynamic growth in new ventures
through venture capital: Conceptualizing venture capital capabilities. Long Range Planning.
50(4). pp.518-530.
Neumeyer, X. and Santos, S. C., 2018. Sustainable business models, venture typologies, and
entrepreneurial ecosystems: A social network perspective. Journal of Cleaner Production. 172.
pp.4565-4579.
9

Park, S., LiPuma, J.A. and Prange, C., 2015. Venture capitalist and entrepreneur knowledge of
new venture internationalization: A review of knowledge components. International Small
Business Journal. 33(8). pp.901-928.
Roma, P., Gal-Or, E. and Chen, R. R., 2018. Reward-based crowdfunding campaigns:
informational value and access to venture capital. Information Systems Research. 29(3). pp.679-
697.
Scarlata, M., Zacharakis, A. and Walske, J., 2016. The effect of founder experience on the
performance of philanthropic venture capital firms. International Small Business Journal. 34(5).
pp.618-636.
Vogel, P., 2017. From venture idea to venture opportunity. Entrepreneurship Theory and
Practice. 41(6). pp.943-971.
von Briel, F., Davidsson, P. and Recker, J., 2018. Digital technologies as external enablers of
new venture creation in the IT hardware sector. Entrepreneurship Theory and Practice. 42(1).
pp.47-69.
Wood, M. S. and Mckinley, W., 2017. After the venture: The reproduction and destruction of
entrepreneurial opportunity. Strategic Entrepreneurship Journal. 11(1). pp.18-35.
10

11