IIC Cell of IMS, Jammu organized session on Achieving Value Proposition Fit

Dr. Meenakshi Sharma, Director of IMS, led the session, diving into the critical concepts of Product-Market Fit and Value proposition fit. She explained that product-market fit refers to the idea that a product should meet market demand, whereas value proposition fit emphasizes the value a product provides to customers, including its benefits and the needs it satisfies. She outlined the essential steps for creating a value proposition, which include understanding customer struggles, listing the benefits your product offers, establishing a connection between those benefits and customer value, and differentiating your product from competitors.

She introduced the value proposition canvas as an effective tool to help businesses better understand their customers. This tool involves three primary steps: understanding the customer profile, which includes customer jobs, pains, and gains; creating a value map for your product and services by identifying unique gains; and evaluating your value proposition fit to ensure it aligns with customer needs. In the session, examples from Airbnb and Tesla were fiscussed to illustrate the process. For instance, Tesla’s value proposition targets higher-class individuals with a focus on high-performance luxury electric cars, addressing pain points such as lack of space, fear of battery depletion, and long charging times, while offering gains like exceptional performance, attractive design, high safety standards, and the latest features.

The session concluded with an interactive Q&A segment, where speaker addressed the students’ questions and clarified their doubts. The day ended on a positive note with a vote of thanks given by Miss Gurshish Kour, Assistant Professor at IMS. The session provided valuable insights into creating a strong value proposition, leaving the students