An explanation on Value Proposition, Market Size, and Market Traction
- Miguel Virgen, PhD Student in Business
- Jul 10
- 5 min read
In regards to a value proposition, A value proposition is the central element of a business model, and is critical for this purpose. However, how entrepreneurial ventures modify their value propositions to increase the attractiveness of their comparatively inferior offerings is not well understood (Antonio, J.L. et al., 2024). In other words, A value proposition is a statement that describes why should a consumer purchase your product or service. It is an explanation about the unique benefits being offered. Having a strong value proposition is essential in order to be able to clearly identify the target customer and how the offering solves a customers pain points. Passion for ones work allows entrepreneurs to engage in the development and implementation of new value propositions, including customer relationships. Hence, innovativeness has a positive impact on offerings and markets within new value propositions (Turulja, L. et al., 2025). To have an effective value proposition it should include; Target audience, and Specific benefit.
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