WOULD YOU BE ABLE TO ANSWER THIS IN REFERENCE TO VALUE PROPOSITIONING AS TO OUR FINANICAL SERVICE
The key elements of value propositioning are to:
(1) Define who the customer is and to define who the competitors are,
(2) Define the product category,
(3) Make a succinct statement as to how the product is differentiated in the market, in other words, why should the customer buy your product instead of the competitors.
I HAVE ATTACHED THE PAPER FOR THIS.
(1) Define who the customer is and to define who the competitors are:
A customer in our case is any individual residing in USA who belongs to one of the Asian communities and has a minimum net worth of US$ 1 million and has minimum investment capacity of $50,000. (Comment to Student: I have chosen exact amount, you can modify these figures if you wish). In other words, our potential customer will be a "high networth" individual possessing significant capacity to invest his surplus funds in one or more form of investment options and should belong to one of the Asian communities.
Since we are presuming that there is no other player like us who is focusing only on Ethnic markets and we are creating a new line of service within an existing industry, our competition is with every large and small financial services firm in USA. A typical large financial services firm will be Merrill Lynch, Morgan Stanley, TD Waterhouse. Another set of large financial ...
Value Proposition-Financial Services