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Lean Product Playbook
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Lean Product Process

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3. Define Value Proposition

After identifying the various Customer Needs, in this step we need to identify the needs that the Product will address. We may not be able to address all the problems or the needs, but you need to solve that is right enough for the users we want to solve for.
Example : Swiss Army knife - Has enough tools to solve most of the use case but if the tools increases then it becomes complex to use and less valuable
Focus is critical when defining a new product.

“Strategy Means Saying - “No”

Based on Kano Model, you can identify the Must-haves, Performers & Delighters.
Classify the needs in the context of your relevant competitors.
Must-haves will likely be the same and there will probably be significant overlap among the performance benefits

Product Value Proposition Template

We need to list down the benefits that are must have’s, PBs and delighters offered by competitors and your product. You need to rate each one of the benfits against the competitors. All the Must-Have’s should be “YES”, if it’s “No” then thats the first thing to be built Performance Benefits should be rated : High, Medium, Low Delighters are generally Unique , so just list it and mark it as “Yes”
Each company might have their own PB that they want to focus ON based on their target customers
Key differentiators are the Performance Benefitors & Unique delighters where you must plan to outperform competitors
Product Value Proposition Template
0
Name
Competitor 1
Competitor 2
Your Product
1
Must Haves
Must Have 1 Must have 2 Must-have 3

Yes Yes Yes

Yes Yes Yes

Yes Yes Yes
2
Performance Benefits
PB 1 PB2 PB3
​High Medium Low
Low ​High Medium
Medium Low ​High
3
Delighters
Delighter 1 Delighter 2
Yes
​
Yes
There are no rows in this table
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Example of Product Value Proposition with Expected Future States
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image.png
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