Value Proposition & Adding Value in Products: A Case Study of Coca-Cola & Pepsi, Assignments of Entrepreneurship

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COMSATS UNIVERSITY ISLAMABAD

Assignment number 1 Submitted By: Class: EEE- Registration number: Subject: Entrepreneurship (MGT403) Submitted to: Submission date: 17th^ September, 2019

What is value proposition?

How you can add value in different products to motivate people to buy a product?

 Value proposition: A value proposition is a promise of value to be delivered in a product so that it will become more efficient for the users. A value proposition is a riot that a company uses to upgrade its product. Product makers should keep the problems relating to different objects in their mind while making or revolute the object in order to attract their customers. This effectiveness convinces a customer that one particular product or service the company offers will add more value or better solve a problem for them than other similar offerings will. The ideal value proposition is more effective and efficient Example: Consider an example of a product that is solving one problem of customer, and consider the same product made by another company solving more than one problems. Then a buyer will absolutely going to attract towards the one that have more benefits. Let’s consider a practical example of Coca cola and Pepsi, companies of beverages. Previously in an effort to appeal to consumers, Coca-Cola printed names on its cans with the hashtag, #ShareaCoke. By sharing a Coke, thousands of people have unknowingly provided Coca-Cola with free marketing. The global campaign brought people together by facilitating the thought of a friend while walking by Coca-Cola products. When consumers see their names or their friends’ names on a Coca-Cola can, they are more likely to purchase it. But Pepsi at that time have no value proposition.  How you can add value in different products to motivate people to buy a product? Uniqueness in product: If you add an important distinction in your product, you’re operating in a crowded market with several similar competitors, then people are more likely to attract the product which has some kinda distinctiveness in it. Launch your product time to time: By launching a same product with different valuable changes in it, after intervals, can add a dynamic value in your product. Efficiency and Effectiveness: If a product have great efficiency to solve the problems of the customers timely and with effective results then it has a greater chance of a large amount of sale. Sale and discounts: People are more likely to attract towards the sale or discounts rather to buy the same product with high (original) price. By one get one free: a value in any product can be increased by presenting your customers a sample of another product you are selling with a product they are buying. In this way people will attract towards your products and the advertisement of your other product can be done.