THE VENTURE VALUE PROPOSITION

Running head: VENTURE VALUE PROPOSITION
VENTURE VALUE PROPOSITION
Name of the Student
Name of the University
Author Note

VENTURE VALUE PROPOSITION1
Table of Contents
Introduction......................................................................................................................................2
Current customer problems..............................................................................................................2
Target customer segments and potential early adopters..................................................................2
Product message and unique value proposition...............................................................................3
Potential of the technology or business concept..............................................................................4
Value proposition.............................................................................................................................4
Products and service....................................................................................................................4
Pain Relievers..............................................................................................................................4
Gain creators................................................................................................................................5
Conclusion.......................................................................................................................................5
References........................................................................................................................................6
Appendix..........................................................................................................................................7

VENTURE VALUE PROPOSITION2
Introduction
The study is concerning a venture value proposition for a newly developed product. The
product is a fitness cum tech product that would come in three parts, a shoe, a smartwatch and a
wristband. The name of the product is proposed to be FitAcc Fitness Accessories. The gadgets
can be used to maintain personal health data along with their normal independent functions. The
following study is a value proposition that is focused on evaluating the product in view of the
markets that it would target. The idea of the product is being put forward through this report
before the formation of the actual business plan. The proposition is focused finding an accurate
fit between the market and the product. In order to propose the product value present trends have
been considered as well as the customer preferences. The study is an elaboration of the business
concept in accordance with its feasibility and effectiveness in the context of a recommendable
business venture. The value proposition framework has been used to enhance the value of the
analysis.
Current customer problems
There are various fitness oriented smart gadgets that are available in the market. These
include the apple watch or fitbit, which provide fitness information to the users. Users can know
how many steps they have taken or how much calories they have burnt. However, there are some
issues pertaining to the values that they are able to create for the customers. Often the customers
are limited with regard to the information that they can gain from these gadgets. Moreover, a
major issue is that the gadgets that can provide more health information to the user are
overpriced but provide only limited health data in return. Hence, the customers are unable to
easily get fitness gadgets that can provide them with optimal information about their fitness
levels. The global wearable device revenue was 26.43 billion USD in 2018 (Dutot, Bhatiasevi
and Bellallahom 2019). Moreover, the total number of smartwatch shipments in the same year
was 53 million. Hence, it can be said that the market is large enough to sustain its growth value
in the future.
Most of the target customers for the fitness gadgets are health oriented people. They care
about their body dynamics and want to remain fit. A problem is that they cannot get data of their
blood pressure. The new gadget would focus on this problem. The wristband would be specially
designed to be a portable blood pressure measuring equipment. The customers would be able to
get more information about their body which would include blood pressure, one of the most vital
health indicator. Customers have been using smart watches or gadgets for a long time. They want
things that can provide them with the next level values. Moreover, they also want these gadgets
to the completely compatible with other devices such as smartphones, tablets or laptops. They
want to know how fit they are and also get the information displayed to them as easily as
possible. Thus, this can be said to be a significant customer need or problem that should be
addressed by the newer products.