A company’s value proposition summarizes why consumers should buy a product or service from the company. But In order for a company to overcome the noisy competitive world market, one must have a unique feature that differentiates it form other competitors. A unique value proposition communicates to customers the special contribution that is not featured by other company.
Unique value propositions, varies from one company to others, it mainly depends on what kind of business the company is selling. Product based companies, would look for high perceived values such as beautiful design, sophisticated technology, ease of use, and the ability to fill a need better that other competitors. Such examples can be seen with TD Bank’s coin counting feature, Jansport’s backpack lifetime warranty, BestBuy’s price match guarantee, etc. Service provider companies does it in a different way, through faster response time, higher level of expertise, and the ability to time the service offering that you have with a particular need. However, a value proposition can also be intangible. The Body Shop is one case, it gained a rapid growth from its ethical approach, which was to distinguish themselves from other beauty products that mostly ignore ethical values.
Sources:
http://www.widerfunnel.com/value-proposition/how-to-create-an-awesome-value-proposition